Contract intelligence company Icertis has launched a new Supplier Onboarding and Diversity Compliance application built on the Icertis Contract Intelligence platform, enabled by Microsoft Azure.
The application provides a self-service onboarding process coupled with rule-based routing, allowing organisations to evaluate large numbers of suppliers. Integration with third-part data sources and supplier risk management software will allow supplier information to be cross-referenced to inform qualification decisions. Other features include ability to automatically add clauses related to disadvantaged business enterprise programs, define supplier policies, and documentation and data requirements to ensure compliance, among others.
“Being able to effectively manage the supply chain is vital to an organisation’s long-term success, and the importance has only increased as the Covid-19 pandemic disrupted assured supplier relationships, resulting in a rush to identify new suppliers and onboard them quickly,” said Neal Singh, COO of Icertis. “This application helps companies struggling to conform to multiple supplier management policies and protocols. Companies can now leverage their contract intelligence to capitalise on new opportunities and rapidly respond to challenges today and long after the current crisis has passed.”
Norwegian materials manufacturer Elkern has already selected the application to evaluate and onboard their suppliers.
“Our mission at Elkem is to contribute to a sustainable future by providing advanced silicon, silicones and carbon solutions, and adoption of new digital capabilities is a central part of our strategy,” said Marg Goldberg, general counsel at Elkem. “We saw significant opportunity to compete more effectively in our global markets by connecting the data in our contracts to commercial and supply chain systems. Icertis’ advanced capabilities will drive analytic-based decision making and additional commercial opportunities as we continue to grow.”