ICI Overview - Revision history

Shefali DK at 13:34, 23 December 2021

2021-12-23T13:34:38Z

WikiSysop at 04:54, 13 September 2020

2020-09-13T04:54:10Z

WikiSysop: Created page with " = Overview of ICM = Icertis Contract Management (ICM) is a very robust and powerful cloud-based contract management system designed for global enterprises. Contract man..."

2020-09-13T04:52:23Z

Created page with " = Overview of ICM = Icertis Contract Management (ICM) is a very robust and powerful cloud-based contract management system designed for global enterprises. Contract man..."

New page

= Overview of ICM =

Icertis Contract Management (ICM) is a very robust and powerful cloud-based contract management system designed for global enterprises. Contract management or administration is the management of agreements and contracts with customers, vendors, partners or any stakeholders of an organization. It is the process of systematically and efficiently managing contract creation, execution and analysis for maximizing financial and operational performance and minimizing risk. 

ICM uses a simplified workflow that is easy to use and highly configurable. Icertis understands the need to analyze and minimize contract related risk and empowers businesses to effectively manage compliance, enhance efficiency and lower costs.

Key capabilities of ICM include:

*Create enterprise-wide contracts: Powerful configuration capabilities allow you to manage sell-side, buy-side, corporate, HR and a whole host of other contracts - all from a single platform.
*Rules based execution: The built-in and strong business rules capabilities enable you to author, approve, execute, manage the entire contract life cycle and automate parts of it.
*Enterprise integration: Connect with other enterprise systems to seamlessly exchange contract data and terms.
*Best-in-class intuitive user interface.
*Risk and Compliance: Leverage strong approval and review processes to enable effective contract compliance and risk management.
*Support Multi-party agreements: Manage all contracts from a single system.

 

=== Elements of an Agreement in ICM ===

An Agreement in ICM is based on these main concepts:

*'''Template''' is a predefined format that gets used for a given agreement. It consists of the text that is relevant to the type of agreement being created. Templates in ICM are used to organize clauses and give a certain structure to all the attributes.
*'''Attribute''' can be defined as a variable or placeholder for the actual data for the agreement. This  data  changes for each agreement. For example, [Company Name] and [Legal Address] can be attributes that will be replaced by the actual name and address of the company the agreement is being signed with. These attributes are defined in the Contract Types and create a structure of your agreement.
*'''Clauses''' contain the terms and conditions of the agreement. For example, the payment terms will be 45 days from the date of invoice. Clauses can be rule or attribute based.
*'''Rules''' help automate the workflow and define conditions that must be met for an agreement to get executed and stay in force. They enforce specific roles for certain users and comply with predefined business conditions. For example, if the payment is not received within 45 days of the date of the invoice, a 10% penalty on the outstanding amount will be levied.
*'''Approvers and signatories''' are an integral part of creating an agreement and are rule based. The rules determine who must approve and sign the agreement throughout it's life cycle.

This figure shows these building blocks of an Agreement in ICM:

[[File:Agreement Components.png|RTENOTITLE]]

 

=== '''Support Information''' ===

Every effort has been made to ensure the completeness and the accuracy of the contents in this Help. If you have comments, ideas, suggestions or questions that are not addressed here, let us know at  '''icm-support@icertis.com'''.

 

=== '''About this Help''' ===

This Online Help is written for users who are involved with any part of the contract management process and related activities. It contains videos, diagrams and detailed expalanation of all the ICM features.

@@ Line 33: / Line 33: @@
 &nbsp;
-=== <br/> '''Support Information''' ===
+=== <br/> Support Information ===
 <font face="Segoe UI">Every effort has been made to ensure the completeness and the accuracy of the contents in this Help. If you have comments, ideas, suggestions or questions that are not addressed here, let us know at &nbsp;'''icm-support@icertis.com'''.</font>
@@ Line 39: / Line 39: @@
 &nbsp;
-=== <font face="Segoe UI">'''About this Help'''</font> ===
+=== <font face="Segoe UI">About this Help</font> ===
 <font face="Segoe UI">This Online Help is written for users who are involved with any part of the contract management process and related activities. It contains videos, diagrams and detailed expalanation of all the ICI features.</font>

@@ Line 1: / Line 1: @@
-= Overview of ICM =
+= Overview of ICI =
-Icertis Contract Management (ICM) is a very robust and powerful cloud-based contract management system designed for global enterprises.&nbsp;Contract management or administration is the management of agreements and contracts with customers, vendors, partners&nbsp;or any stakeholders&nbsp;of an organization. It is the process of systematically and efficiently managing contract creation, execution&nbsp;and analysis for maximizing financial and operational performance and minimizing risk.&nbsp;
+Icertis Contract Intelligence (ICI) is a very robust and powerful cloud-based contract management system designed for global enterprises.&nbsp;Contract management or administration is the management of agreements and contracts with customers, vendors, partners&nbsp;or any stakeholders&nbsp;of an organization. It is the process of systematically and efficiently managing contract creation, execution&nbsp;and analysis for maximizing financial and operational performance and minimizing risk.&nbsp;
-ICM uses a simplified workflow that is easy to use and highly configurable. Icertis understands the need to analyze and minimize contract related risk&nbsp;and empowers businesses to effectively manage compliance, enhance efficiency&nbsp;and lower costs.
+ICI uses a simplified workflow that is easy to use and highly configurable. Icertis understands the need to analyze and minimize contract related risk&nbsp;and empowers businesses to effectively manage compliance, enhance efficiency&nbsp;and lower costs.
-Key capabilities of ICM include:
+Key capabilities of ICI include:
 *Create enterprise-wide contracts: Powerful configuration capabilities allow you to manage sell-side, buy-side, corporate, HR and a whole host of other contracts - all from a single&nbsp;platform.
@@ Line 17: / Line 17: @@
 &nbsp;
-=== Elements of an Agreement in ICM ===
+=== Elements of an Agreement in ICI ===
-An Agreement in ICM is based on these main concepts:
+An Agreement in ICI is based on these main concepts:
-*'''Template''' is a predefined format that gets used for a given agreement. It consists of the text that is relevant to the type of agreement being created. Templates in ICM are used to organize clauses and give a certain structure to all the attributes.
+*'''Template''' is a predefined format that gets used for a given agreement. It consists of the text that is relevant to the type of agreement being created. Templates in ICI are used to organize clauses and give a certain structure to all the attributes.
 *'''Attribute''' can be defined as a variable or placeholder for the actual data for the agreement. This &nbsp;data &nbsp;changes for each agreement. For example, [Company Name] and [Legal Address] can be attributes that will be replaced by the actual name and address of the company the agreement is being signed with. These attributes are defined in the Contract Types and create a structure of your agreement.
 *'''Clauses''' contain the terms and conditions of the agreement. For example, the payment terms will be 45 days from the date of invoice. Clauses can be rule or attribute based.
@@ Line 27: / Line 27: @@
 *'''Approvers and signatories''' are an integral part of creating an agreement and are rule based. The rules determine who must approve and sign the agreement throughout it's life cycle.
-This figure shows these building blocks of an Agreement in ICM:
+This figure shows these building blocks of an Agreement in ICI:
 [[File:Agreement Components.png|RTENOTITLE]]
@@ Line 41: / Line 41: @@
 === <font face="Segoe UI">'''About this Help'''</font> ===
-<font face="Segoe UI">This Online Help is written for users who are involved with any part of the contract management process and related activities. It contains videos, diagrams and detailed expalanation of all the ICM features.</font>
+<font face="Segoe UI">This Online Help is written for users who are involved with any part of the contract management process and related activities. It contains videos, diagrams and detailed expalanation of all the ICI features.</font>
 &nbsp;