Icertis contract managment tool - good for standardized contract processes
March 29, 2018
Icertis contract managment tool - good for standardized contract processes
Score 6 out of 10
Vetted Review
Verified User
Overall Satisfaction with Icertis
It is being used by our legal department to manage contracts, and by other business teams (mostly sales) to request contract review. The goal was to have a platform that could house all contracts and allow us to also get data on those contracts (i.e., notice of expiration, tracking terms agreed to, etc.).
- A good way to organize your contracts by type/business line/etc.
- Contract provision library is useful for reviewers of contracts - helps standardize language and approach.
- Some features are unnecessarily limiting. For example, the inability to delete records or change fields later if it turns out there has been a mistake in how the contract was entered or the term was described. The Icertis form fields are NOT the contract record that is required to be kept. If someone makes an error, they should be able to fix it. The contract itself doesn't change, and that is the business record.
- Too much is built on the assumption that the person requesting the contract is the one with the control or ownership of the contract. It would be better if the person to whom the contract is submitted for review was the owner in the system.
- Not all requests will in fact end with a contract. Sometimes requests are started and the project is abandoned or put on hold for a period of time. More status fields that reflect the reality of contracting would be helpful.
- Too new to product to have ROI estimates. Less than 1 year of implementation. But, I would say we have better ways to track our existing agreements with this tool.
I think that all three of these platforms are solid products. I was not the decision maker in choosing Icertis over the other two products - that was handled by our IT department.