FRANKFURT, Germany, May 1, 2019 /PRNewswire/ -- Icertis, the leading provider of enterprise contract management in the cloud, today announced that it was named one of the top three suppliers in the Innovation category for the 2018 Daimler Supplier Awards, which acknowledge key contributions to Daimler's success from the company's 500,000 vendors.
Icertis, which was upgraded to Key Supplier status last year, was recognized based on the delivery of cutting-edge technology and solutions as part of a New Procurement System transformation. This includes the deployment of the Icertis Contract Management (ICM) platform; co-developing an advanced sourcing application on top of ICM; and the successful development of a blockchain-prototype for transparency in complex supply chains for Mercedes-Benz Cars.
"With the Daimler Supplier Award, we honor suppliers with outstanding achievements in the past year," said Andreas Burkhart, Vice President International Procurement Services, Daimler AG. "Icertis is known as a leading provider of cloud-based contract lifecycle management. They are an expert in fast implementation of software within our projects, providing additional value with innovative services and technologies."
Icertis' strategic blockchain-prototype, which is underway with Mercedes-Benz Cars, will leverage smart contracts built on the Icertis Blockchain Framework. The project will help ensure global sourcing and contracting practices adhere to Mercedes-Benz Cars' strict requirements for working conditions, human rights, environmental protection, safety, business ethics, and compliance, without compromising contract confidentiality. The Blockchain prototype allows a transparent mapping and understanding of this transmission across the entire supply chain. Should one of the sub-suppliers deviate from the contractual obligations, this becomes visible in the Blockchain, similar to a secure accounting system.
"As global supply chains become more complex, leading companies are reimagining their source-to-contract processes," said Samir Bodas, CEO and Co-founder at Icertis. "We are delighted to be recognized as a key partner by Daimler, one of the most innovative companies in the world, for our role in their contracting and sourcing foundation."
The awards were presented by members of the Daimler AG Board of Management and the heads of the Daimler procurement groups in a ceremony attended by over 450 strategic partners and key suppliers representing 30 countries.
For more information about Icertis, visit www.icertis.com.
Icertis, the leading enterprise contract management platform in the cloud, solves the hardest contract management problems on the easiest to use platform. With Icertis, companies accelerate their business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize their commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Management (ICM) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft and Roche to manage 5.7 million contracts in 40+ languages across 90+ countries.
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