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PwC, Microsoft and Icertis have formally announced a new strategic collaboration that will provide C-suites with a “powerful, innovative AI-driven approach” to contract management that enables accelerated enterprise-level digital transformation.
The firms said the new collaboration builds on the strength of existing relationships Microsoft has with both PwC and Icertis. It offers a contract intelligence platform that provides C-suites with the ability to unlock critical business insights from data embedded in contracts and use it to automate end-to-end business processes.
As a result, PwC said C-suites should realise “significant cost savings” and reduced revenue leakage, more visibility into the delivery of ESG commitments, better compliance and risk management, and greater transparency.
It added AI digitises the contracting process from contract creation to realising the contract’s intent to help enterprises navigate today’s economic climate, including inflation and supply chain disruptions.
PwC, serving as the transformation partner, will integrate Icertis into Microsoft Azure powered solutions, to help clients achieve enterprise-wide transformational value.
Bob Moritz, PwC global chairman, said: “We know from our most recent PwC CEO Survey that 40% of CEOs think they will need to transform their organisation to be economically viable in a decade.
“As the world continues to increase in complexity, technology will play a critical role in creating opportunities for organisations to build trust and deliver sustained outcomes. This new collaboration offers C-suites a unique opportunity to implement and leverage an AI-powered approach to contracting that will drive efficiency, increase profitability and reduce risk.”
Nicole Dezen, chief partner officer at Microsoft, added: “Our expanded collaboration with PwC and Icertis will deliver innovative tools and solutions, built on the Icertis Contract Intelligence platform, powered by Microsoft Azure, that will transform the way global businesses approach contract intelligence and analytics. As Icertis and Microsoft further integrate generative AI into contracting, customers will realise even more increased productivity, improve bottom-line performance and drive growth.”
