MindTree Improves Contract

Turnaround Times by 40%

Company Profile with a Contract Management
MindTree is a $400 million global
information technology solutions Solution From Icertis
company and a strategic partner to
over 40 Fortune 500 enterprises.
They employ 11,000 experts to
engineer meaningful technology The Icertis Contract Management system was
solutions to help businesses and
societies flourish.
designed to meet MindTrees unique contract
management challenges. It allowed them to manage
worldwide consulting business, and delivered
Objective
Create a new contract management measurable results in the areas of cost reduction,
system to support MindTrees global
improved compliance and timely revenue recognition.
consulting business.

Business Challenge
Results
Searchable centralized repository MindTree had a large number of customer contracts, created by
of all contracts and supporting business units around the globe. The entire contract lifecycle
documentation
process was manual, which meant that meeting contractual
End-to-end automation for both
template-based and 3rd party obligations was people dependent. Without a centralized repository,
contracts it was difficult to track commitments, expiries and other milestones.
Approval rules engine ensures
There were frequent instances of non-compliance.
that contracts conform to
organizational standards
Deviations are tracked and routed
for approval based on rules engine
New reporting features enable
advanced risk assessment
capabilities
SAP integration enables contract
checks on invoicing
 Icertis unique approach to building
software is evident in its Contract
Management product. Managing
complex contracts across all our
business units and getting a single
view of various contracts was very
important to us. MindTree selected
the Icertis 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.
Rajesh Narang,
Vice President Legal
& Company Secretary,
MindTree
About Icertis
Icertis is the leading provider of
contract lifecycle management in the
cloud. Icertis Contract Management is
an innovative, easy-to-use platform that
is highly configurable and continually
adapts to your complex business needs.
Solution
MindTree selected Icertis the Contract Management solution
based on its end-to-end functionality, ease of use, and quick
time to deployment. The solution was specifically designed to
meet MindTrees unique contract management challenges. The
new system covers all contracts, across all business units around
the globe. Some of the new features developed for MindTree
includes a rules engine for negotiation and execution, a contract
repository, role-based alerts and a customizable dashboard for
reporting key performance indicators.
Results
The Icertis contract management system improved contract
turnaround times by 40%, resulting in substantial productivity
improvements and most importantly, shorter order-to-cash
cycles. Different functional areas found it easier to work
together. Timely contract renewals had a positive impact on
revenue recognition. MindTree gained tremendous value through
cost reductions, and achieved 100% compliance.

Today, the Icertis platform is used

to manage 2+ million contracts, by
500,000+ users, in 90+ countries and
40+ languages. With its intelligent
workflow and built-in analytics, the
Icertis platform provides ongoing
contractual insights and best-of-
breed contract management enabling
customers to increase compliance,
improve governance and mitigate risk.

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