Elkem Selects Icertis to Reduce Risk and Stay Out in Front with Contract Intelligence

Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), announced today that Elkem, a global leader in fully integrated silicone manufacturing, has selected the Icertis Contract Intelligence (ICI) platform to digitally transform its global commercial and supply chain contracting processes and ensure compliance. By unifying and connecting vital contract information with other enterprise systems, Elkem will gain critical insights into its supplier and customer relationships in order to accelerate its business and reduce risk.

Headquartered in Oslo, Norway, Elkem is one of the world’s leading companies in the environmentally responsible of metals and materials. With over 6,700 employees located at 31 productions sites and an extensive network of sales offices around the world, the company was looking for contract management software that could support both its process and discrete manufacturing businesses. Elkem needed a system that could connect vital contract information to its people and processes in order to increase the quality of insight and decision making while reducing risk and ensuring compliance.

“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, 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.”

Elkem selected Icertis for its ability to integrate with core business platforms including Salesforce, SAP ECC, Infor M3 and the company’s supplier relationship management system. To provide a seamless lead-to-contract process for its commercial organization, Elkem has added the ICI Experience for Salesforce so that its teams can create, view, approve, and collaborate on contracts within the customer relationship management (CRM) environment their sales teams use every day.

To reduce risk and improve agility in its supplier onboarding process, Elkem will use the ICI Sourcing application as well as the recently launched ICI Supplier Onboarding and Diversity Compliance application. The ICI Sourcing application places contracts at the center of the sourcing process to ensure compliance, minimize risk, and to get a complete view of supplier relationships. The Supplier Onboarding and Diversity Compliance application will enable Elkem to quickly evaluate suppliers and rapidly onboard them, while providing collaboration capabilities to ensure suppliers are compliant with organizational and customer policies, including supplier diversity initiatives.

“We are excited to empower Elkem with the high-value contract insights they need to develop the advanced materials that will shape our future,” said Samir Bodas, CEO and Co-founder of Icertis. “Manufacturing companies around the world are recognizing the need for a contract intelligence platform that allows them to act on all their contracts organization-wide, so the intent of every contract is fully realized. The ICI platform structures and connects contracts to business processes to create substantial strategic advantage now and into the future.”

The recent disruption to global trade caused by the COVID-19 pandemic is forcing manufacturers to reevaluate their commercial and supply chain systems to meet changing customer and marketplace demands. Icertis is the trusted partner for global manufacturing corporations embracing the need for real-time visibility into the relationships defined by their contracts. Elkem joins the growing roster of manufacturers including Airbus, BASF, Daimler AG, Rheem, Saint Gobain, Vertiv, and others that have deployed the ICI platform.

For more information about Icertis, visit www.icertis.com.

About Icertis

With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what’s possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs. Today, the world’s most iconic brands and disruptive innovators trust Icertis to fully realize the intent of their combined 7.5 million+ contracts worth more than $1 trillion, in 40+ languages and 90+ countries.