Schaeffler Group Drives Commercial Transparency With Icertis
Total visibility into contractual obligations improves compliance and performance for leading German manufacturer.
Looking for a Better Approach to Contracts
Schaeffler Group is a major manufacturer of auto parts. In today's fast-paced business environment, Schaeffler recognized the paramount importance of possessing comprehensive knowledge about the contents of their contracts. This encompassed understanding rights, obligations, and opportunities embedded within these legal agreements. Such insight was not merely a matter of compliance with regulations but also a strategic response to the dynamic landscape of commercial pressures that modern enterprises face.
Going Beyond Contract Management
To address this imperative, Schaeffler made it a top priority to implement a cutting-edge contract intelligence solution.
“To have comprehensive knowledge about your contractual details – about rights and obligations, risk and opportunity, is crucial in these times, and that’s why we decided to prioritize digitally transforming contracts,” says Christoph Ehemann, Head of Legal Operations, Schaeffler Technologies AG & CO. KG
They embarked on a journey to find the ideal partner who could help them achieve a unified and streamlined approach to contract management. This search led them to select Icertis.
Achieving a ‘Single Source of Truth’
With Icertis, Schaeffler now enjoys a single source of truth for all contracts within the organization. This transformative achievement ensures that Schaeffler's contract management is not only compliant but also agile and responsive to the evolving needs of the business.
Summarizing the benefits of Icertis, Ehemann comments: “One headline: Transparency out of a single point of truth.”
