MindTree Considers Leading Enterprise Contract Management Software

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MindTree Case Study

• Company Profile
• Mindtree is a global information technology
  solutions company with revenues of over USD 400
  million. Mindtree's consulting-driven approach
  makes it a strategic partner to over 40 Fortune
  500 enterprises.
• More details
• Employs 11,000 experts to engineer meaningful
  technology solutions to help businesses and
  societies flourish.
• Mindtree's ability to devise solutions is equally
  matched by their ability to execute. Their
  market differentiation stems from a unique
  balance of human perspective with deep strategic
  thinking.

• Difficult to control and manage a distributed
  contracting operation leading to potential
  contracting risks, particularly third party
  contracts
• No central repository of contracts and related
  information. Difficult to trace a contract or its
  related information resulting in reduced ability
  to do analysis and prepare for renewal
  negotiations.
• Difficult to get visibility into non-standard
  clauses signed on third party MSA documents,
  critical to assess the overall risk

Business Challenges

• Large number of customer contracts (MSA/SOW)
  spread globally
• Essentially contracts created and managed on a
  manual process across business units making it
  inefficient
• Difficult to abstract, track and manage contract
  commitments, expiries, contract
  milestones.
• Contractual obligations were people dependent and
  not captured on any system leading to
• instances of non-compliance, audit comments
  whenever there was a people failure or change

Solution Icertis Contract Management system was
designed and implemented to meet MindTrees
unique contract management challenges. The
system covered all the contracts in business
across all business units globally. Icertis
Contract Management system for MindTree included
Contract Setup, Approval Rules Engine, Contract
Negotiation, Contract Execution, Contract
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Repository, Roles Based Access, Visibility
Alerts, KPI Dashboard and Reporting.

• Ensured 100 compliance to contractual
  obligations on a consistent basis by bringing in
  the obligations on the system
• Ensured timely contract renewals which resulted
  in a positive impact on revenue recognition
• Improved collaboration and visibility between
  different functions
• Integrated processes for invoicing accuracy

Some of the key solution features delivered to
meet the business challenges are as below -

• Automated end-to-end process for template based
  as well as third party contracts
• Approval rules engine to ensure contracts getting
  reviewed as per organizational policies
• Abstract all contract commitments and assign
  owners, escalate if missed deadlines. This
  ensured contractual obligations are captured and
  assigned to owners with the system driving
  alerts and visibility to actionable from
  business
• System enables tracking deviations and routing
  for approvals based on nature of deviation
  leading to better control
• Abstract non-standard clauses from executed
  contracts to deliver search and reporting
  capability to enable risk assessment and review
  of contracting policies
• Integrate to SAP for contract checks on
  invoicing, project creation
• Dashboard reporting, notifications on key
  milestones expiries. Dashboard visibility
• Searchable centralized repository of all
  contracts and supporting documentation

About Icertis Icertis is the leading provider of
enterprise solutions in the Microsoft Cloud. The
companys cloud-native products and services
address specific enterprise business needs by
fully leveraging the clouds elasticity,
ubiquity, and availability. Icertis product
suite includes comprehensive ERP-surround
solutions for contract lifecycle management and
transportation management.
The products have flexible deployment models
on- cloud, on-premises and hybrid options to
ensure that diverse requirements for cost,
compliance, and security are met. Icertis
cloud-native services help customers build
innovative, secure, and easy-to-use applications,
leveraging prefabricated frameworks and adapters
and modules to integrate data from multiple
locations.
Icertis products and solutions are deployed in
multiple Fortune 500 companies and have received
great reviews from both users and analysts alike.
Benefits MindTree selected Icertis Contract
Management solution based on its end-to-end
functionality, ease of use, and quick time
to deployment. The system has
Client Testimonial
contract benefits
significantly improved management capability
highlighted below -
MindTrees
with
some key
Rajesh Narang Vice President Legal Company
Secretary MindTree

• Over 40 improvement in

contract turnaround

• times leading to substantial productivity
  improvements and most importantly ability to
  shorten the order to cash cycles
• System delivered tremendous value to MindTree
  through cost reduction, compliance and timely
  revenue recognition

Icertis
unique
approach to building
software is evident in its
Contract Management product. Managing complex
contracts across all our business units and
getting one single view of various
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contracts was very important to us MindTree
selected Icertis Contract Management solution
based on its end- to-end functionality, ease
of use, and quick time to deployment. Their
product will help take our contract management
processes to the next level
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