Across all industries, today’s enterprises manage increasingly complex ecosystems of suppliers, partners, and customers globally. As this ecosystem expands, so does the number of business relationships – and contracts – that a company must manage.
Contracts govern every dollar in and out of the enterprise and provide a legal framework for ongoing business relationships. This makes contract data one of the most valuable assets to inform decision-making and accelerate strategic outcomes for enterprises.
According to World Commerce & Contracting estimates, poor contract management can cost companies nearly 9% of their bottom line, creating significant revenue leakage alongside the risk and compliance concerns that come with a lack of visibility into commercial agreements.
Streamline procurement with contract intelligence from Icertis and SAP Learn moreSAP understands the value of balancing risk and profitability in the contracting process. To complement our solutions and provide additional advanced contract management capabilities to our customers, we partner with Icertis in a joint development effort that includes technological integration between SAP and Icertis solutions. This innovation complements a full suite of integrations designed to help SAP customers turn contracts into strategic assets. It can enable global enterprises to realize the true intent of their commercial agreements while managing and automating core processes with their SAP solutions.
Introducing the Latest Version of Icertis Contract Intelligence for SAP S/4HANAOne outcome of our joint development efforts with Icertis is the latest version of Icertis Contract Intelligence for SAP S/4HANA (Buy Side), an SAP endorsed app available on SAP Store. Originally launched at SAP Sapphire in 2023, the solution integrates SAP S/4HANA and the Icertis contract lifecycle management (CLM) platform. It can empower procurement teams to realize more profitable and compliant sourcing processes by optimizing supplier relationships and accelerating source-to-pay cycle times.
The new iteration of Icertis Contract Intelligence for SAP S/4HANA takes the integration one step further, deepening the connection with SAP S/4HANA for enterprise contract management. This can enable greater efficiency and visibility along with the ability to create a legal transaction in SAP S/4HANA that can automatically initiate a contract in the Icertis solution. Through richer contract data pools and seamless connectivity across the agreement lifecycle, procurement decision-makers can track obligations after the contract is signed, discover clauses, and negotiate more beneficial commercial terms to mitigate revenue leakage and ultimately create cost savings for their enterprises.
Expanding Our Partnership to Benefit SAP CustomersIcertis and SAP expanded their partnership in 2022 and have continued to provide automation and analytics at scale by connecting AI and data that represents every business transaction within ERP, finance, procurement, sales, and HR solutions from SAP. Additional SAP endorsed apps available on SAP Store include Icertis Contract Intelligence for SAP Ariba, Icertis Contract Intelligence for SAP Fieldglass, and Icertis Contract Intelligence for SAP CPQ with SAP S/4HANA (Sell Side). Each solution is designed to provide enterprise leaders with a deeper understanding of what’s driving their business, as well as powerful new levers to steer future success.
To learn more about the transformative capabilities of SAP S/4HANA with Icertis Contract Intelligence, listen to this on-demand SAPInsider webinar.
Priya Wenzel is vice president and global head of Partner Ecosystem Success for Digital Supply Chain and Intelligent Spend & Business Network Solutions at SAP.
Get the latest SAP news delivered to your inbox once a week Subscribe to the SAP News Center newsletterIn the modern business environment, the critical need to effectively harness data is undeniable. Companies that fail to become data-driven risk falling behind in a world where agility and informed decision-making are paramount. In the recent SAP Data Unleashed event we explored strategies to help organizations access data from any source, transform planning and analysis with a business data fabric, and foster trusted artificial intelligence (AI) across their businesses. Central to this transformation are SAP partners.
For decades, our partners have leveraged their industry expertise and technological know-how to bring immense value to companies of all sizes. They possess a rare fusion of deep industry insights and technological expertise, which they leverage to guide businesses through the delicate process of modernization while ensuring that the essence of their identity remains intact.
We recently asked several of our strategic SAP partners how they’re helping customers take better advantage of their organization’s data. Our partners have observed a significant shift in the way data is perceived and utilized. It’s no longer just a byproduct of business operations but a core asset that, when effectively distributed and made accessible, can revolutionize customer experiences and enable a more strategic, company-wide approach to decision-making.
SAP Partners Bring Out Your Best as a Data-Driven OrganizationClick the button below to load the content from YouTube.
Always allow YouTube Always load all embeds-->However, the mere availability of data is not a panacea. The crux of the matter is transforming data into actionable insights. This is where our partners excel, mapping out advanced use cases and facilitating the transition to cutting-edge platforms like SAP Datasphere and SAP Analytics Cloud. These solutions can empower organizations to evolve into entities where data is not just present but central to every action and decision.
The practical implications of data are vast and deeply rooted in the operational successes of our clients. AI, for instance, is a frontier rich with potential, but its success is inextricably linked to the quality and accessibility of data. Recognizing this, SAP partners are investing in building AI capabilities that can not only propel new business functions but also deliver substantial value.
Another key area of focus for our partners is the concept of a business data fabric, which is critical in developing a flexible enterprise architecture. Such an architecture allows for co-innovation and customization of solutions, ensuring that data is not just an afterthought but a driving force in business operations.
The journey toward a data- and AI-centric business model is an ongoing one, marked by evolving needs, emerging challenges, and a relentless pursuit of innovation. The ultimate aim is to convert potential into lasting business success.
The essence of our relationship with our partners is rooted in a shared vision. We are united in our pursuit of discovery, innovation, and improvement as we navigate the future together. Be sure to watch the videos with our seven strategic partners and discover how the SAP partner ecosystem can help your company become a data-driven organization.
Karl Fahrbach is chief partner officer at SAP.
SAP partners are helping their clients solve critical business challenges Discover howContinuously advancing and amplifying the value of ERP, SAP offers a dynamic portfolio of flagship solutions that meet the evolving needs of organizations worldwide. The RISE with SAP offering continues this multi-decade legacy, guiding customers throughout their transformative journey to our modular cloud ERP – SAP S/4HANA Cloud Private Edition – with steadfast support and continuous innovation.
With the introduction of RISE with SAP add-on packages for critical lines of business, customers using RISE with SAP can reap significant value from their cloud ERP investment. Each targeted package augments the complete offering of cloud solutions, infrastructure, and services, creating a strategic arsenal for addressing uniquely nuanced challenges and opportunities.
The first two sets of packages that are now available focus on the needs of finance and supply chain organizations. To advance critical functions from digital banking and treasury and risk management to product lifecycle management and logistics, these packages are designed to be versatile allies in the quest for greater efficiency, sustainability, and growth.
Strengthening Financial Empowerment for Business GrowthFinancial management stands as a critical pillar for business growth. Within RISE with SAP, its impact can be heightened with add-on packages finely tuned for the office of the CFO.
Digital Banking: Simplify connections with customers, banks, and payment service providers while meeting the highest security standards.
The digital banking package streamlines financial transactions and helps ensure a comprehensive and secure banking interface, supporting payment processes integrated with SAP S/4HANA Cloud Private Edition. Read the blog for more details.
Treasury and Risk Management: Invest, borrow, and hedge exposures more confidently with a comprehensive solution for centralized treasury and risk management.
Through the RISE with SAP advanced treasury and risk management package, smooth integration with trading platforms allows finance organizations to streamline, automate, and unify trading activities and make more strategic decisions with real-time and predictive cash insights. Read the blog for more details.
Financial Three Lines of Defense: Let standardization and automation take center stage to address key activities in enterprise risk management, regulatory compliance, and audit processes.
The three lines of defense package empowers finance professionals to anticipate and respond to potential economic risks, identify and resolve issues faster, and gain near-real-time visibility into their company’s compliance status and control effectiveness. Read the blog for more details.
Billing and Revenue Innovation Management: Accelerate the monetization of innovative business models and billing processes for bundled-usage services, products, projects, and recurring services billed on a single invoice.
Using the billing and revenue innovation management package helps establish the foundation for supporting subscription order management, convergent charging and invoices, and contract accounting. It also facilitates incentives and revenue shares for business partners with high-volume customer billings. Read the blog for more details.
Building Resilient Bonds Across the Supply ChainCompanies that connect their processes, contextualize their decisions, and collaborate with each supplier, partner, and stakeholder are well-positioned to run risk-resilient and sustainable supply chains. RISE with SAP brings this competitive edge by setting the proper foundation with the following add-on packages.
Advanced Product Lifecycle Management: Empower your development organization with the best capabilities for collaboration, visualization, requirements definition and specification, and change management.
The RISE with SAP advanced product lifecycle management (PLM) package equips product-centric companies with solutions that keep information flowing across each PLM activity and engage suppliers through digital networks. In return, design decisions are made more accurately, and delays give way to accelerated time to market. Read the blog for more details.
Advanced Supply Chain Planning: Build an agile, intelligent, and risk-resilient supply chain.
With the RISE with SAP advanced supply chain planning package, supply chain organizations can automate and tightly coordinate their planning processes, leverage AI-driven intelligence and planning capabilities, and identify disruptions and shortages early to respond faster and more effectively. Read the blog for more details.
Advanced Logistics: Increase resilience against constant change and deliver as promised at the right time – every time.
Through the RISE with SAP advanced logistics package, supply chain organizations gain best-practice logistics capabilities in warehousing, transportation, robotics, and yard management to reduce costs, avoid stock-outs, and improve order accuracy and on-time delivery. Read the blog for more details.
Advanced Manufacturing: Drive productivity safely and sustainably with intelligent manufacturing planning and execution.
The RISE with SAP advanced manufacturing package assists supply chain organizations in meeting demand with automated, flexible manufacturing processes that support risk-resilient operations and improve sustainability performance. Read the blog for more details.
Advanced Asset and Service Management: Enter a new world of optimized, AI-powered maintenance and service capabilities.
The RISE with SAP advanced asset and service management package opens the door to innovative technologies that maximize asset performance, reduce maintenance costs, and deliver service excellence. This approach allows asset owners and service providers to handle everything from asset strategy and planning to maintenance scheduling and field service management on mobile devices. Read the blog for more details.
Navigating the Future with Digital SynergyThe RISE with SAP offering is not only emerging as an enabler for migrating on-premises ERP systems to SAP S/4HANA Cloud Private Edition; it’s also a transformative force shaping the future of businesses.
And with the addition of add-on packages meticulously crafted for finance and supply chain challenges, the offering stands to become a strategic partner, propelling SAP customers into a new era of efficiency, resilience, and sustained growth.
Eric van Rossum is chief marketing and solutions officer for Cloud ERP at SAP.
RISE with SAP add-on packages can help transform your business at your preferred pace and timeline Get startedFast-growing organizations are increasingly turning to cloud ERP, such as SAP S/4HANA Cloud Public Edition, as a strategic investment for long-term business success. These businesses stand to benefit from the technology’s ability to simplify everyday work, steer regulatory compliance, and help optimize the workforce — all supported by continuous innovation and steadfast guidance.
SAP is pleased to introduce add-on packages for the GROW with SAP offering, which are uniquely tailored to the needs of finance and HR functions. These packages integrate the latest cloud solutions, infrastructure, and services into a strategic toolkit, addressing the challenges and opportunities growing companies face.
The add-on packages provide a dependable, company-wide view that strengthens financial and HR management practices as strategic pillars for growth. In return, businesses can operate more efficiently, sustainably, and effectively — even when expanding their operations.
Here is a summary of our new add-on packages.
Digital Banking Package for GROW with SAPConnect your banks, financial institutions, and payment service providers directly to SAP S/4HANA Cloud Public Edition through a single, centralized platform: The digital banking package provides a multi-bank, digital channel between ERP systems and banks with optional embedded SWIFT connectivity. Integrated payment and statement processes are also available, bringing more comprehensive visibility across the payment value chain.
With the digital banking package, businesses gain critical capabilities; for example:
Read the blog for more details .
GROW with SAP Advanced Treasury and Risk Management PackageInvest confidently and mitigate financial risks while doing more with fewer resources: The GROW with SAP advanced treasury and risk management package gives treasurers the comprehensive solution they need to capture exposure data, classify and qualify risks, and trigger trade actions. Predefined connectivity and integration capabilities are available as well, connecting businesses to trading platforms and providers and supporting cash, investment, and risk processes in SAP S/4HANA Cloud Public Edition.
The package includes proven solutions, such as:
Read the blog for more details.
GROW with SAP Advanced Compliance Automation PackageAddress evolving regulatory and industry compliance requirements with greater ease and confidence: The GROW with SAP advanced compliance automation package empowers finance teams to transform and standardize their processes globally while adhering to local standards efficiently. Furthermore, the package helps meet e-invoicing mandates while keeping order-to-cash processes efficient and internal controls adequate.
The advanced compliance automation package features proven compliance offerings, including:
Read the blog for more details.
GROW with SAP, Core HR Add-OnDrive continuous alignment between HR and finance to achieve better business outcomes: The GROW with SAP core HR add-on provides a modern cloud-based core HR system that serves as the source of people data in SAP S/4HANA Cloud Public Edition. It contains the SAP SuccessFactors Employee Central solution, allowing organizations to use a common data model for HR and finance.
The core HR add-on helps businesses realize key benefits, such as:
Read the blog for more details.
Business Growth with the Best of Finance and HRAdd-on packages for GROW with SAP provide fast-growing organizations with the tools they need to not only enhance their finance and HR operations, but also lay a solid foundation for future success. They can navigate an increasingly complex and competitive landscape with the insight and power to confidently embrace change, fuel innovation, and achieve ongoing growth in an ever-evolving economy.
Eric van Rossum is chief marketing and solutions officer for Cloud ERP at SAP.
The add-on packages for GROW with SAP can help transform your business at your preferred pace and timeline Explore your optionsThree of the more than 40 predominantly AI-based tools that SAP digital hubs use to serve large numbers of customers through insights-driven and robust self-service capabilities won silver and bronze at the 2024 Stevie Awards for Sales & Customer Service.
Enterprise GPT and digital launchpad, powered by Joule, won silver in the Best Use of Technology in Sales category, while SAP Digital Value Discovery won bronze for Value-Based Selling Techniques.
Courtesy of The Stevie Awards.Digital customer engagement at SAP is executed via digital hubs located at 15 locations across six continents. The hubs are home to more than 1,000 digitally skilled, multi-disciplinary teams that innovate with and apply AI capabilities to serve personalized and immersive engagements, whenever and wherever needed.
“SAP digital hubs were able to support more than 22,000 customer engagements last year – primarily virtually – thanks to a plethora of AI tools we adopt internally to drive wider customer coverage and faster execution of digital customer engagements,” explains Sam Masri, global head of Digital for Customer Success at SAP.
“We are scaling and expanding our digital customer engagement capabilities to every customer-facing role and function in SAP, ensuring everyone uses multiple AI tools to outsource administrative, repetitive, and manual activities to AI,” he elaborates. “This way, we have more capacity to focus on strategic activities that address customer needs and increase customer satisfaction. We engage with SAP customers of all sizes and industries at a pace that matches their pressing business requirements, accelerating business outcomes they get from our cloud solutions.”
The Stevie Awards encompass several of the world’s leading business award programs, including the prestigious American Business Awards® and International Business Awards®. More than 2,300 nominations from organizations of all sizes across all industries from 47 nations and territories were evaluated in this year’s competition. Finalists were determined by the average scores of more than 200 professionals worldwide.
Put customers at the center of your business with connected data and AI-fueled insights Explore the SAP Customer Experience portfolio