Anand Subbaraman: Transforming Procurement Contracts with AI
As the landscape is constantly evolving especially with this advancement in AI, Anand Subbaraman, appointed as the Chief Operating Officer at Icertis has outlined his plans to be at the forefront of this transformation.
With his wealth of experience in enterprise applications and supply chain management, Anand brings with him a strategic vision to Icertis' mission of revolutionising contract lifecycle management (CLM).
Anand discusses how Icertis is leveraging generative AI to enhance contract compliance, mitigate supplier risks, and drive unprecedented value for customers.
Key contracts
Icertis is the global leader in AI-powered contract intelligence, delivering powerful results that enable customers to grow revenue, cut costs, mitigate risk, and ensure compliance.
Anand views contracts as “the definitive source of truth for the relationships a business has with its suppliers, partners, and customers – making contract data one of the most valuable untapped assets in the enterprise.”
The Icertis platform transforms these documents from static digital files into assets that propel business operations. By extracting vital information from contracts, organising it within a unified data model, and effortlessly integrating it with the operational systems that support finance, sales, and procurement, Icertis enables customers to fully leverage the potential of each business relationship.
What are your immediate goals now that you are the COO?
"Icertis platform has achieved significant success and momentum, consistently empowering our customers to achieve measurable results with our solutions. As our customers explore new possibilities with our offerings, we remain committed to simplifying our core platform, enhancing its value, and expanding our technology to meet the demands of the world’s largest enterprises - now trusted by a third of the Fortune 100.
"Icertis is entering a new chapter that requires us to continue scaling our platform. My immediate priorities include continuing to embed GenAI into the fabric of everything we do with our product platform, creating a seamless customer experience, increasing adoption of our solutions, and driving greater value for our customers."
What do you have in mind for your procurement process?
"Internally we use SAP Ariba and use Icertis for contracts. Ensuring contract compliance and having four-way matching in our procurement process is paramount. Most customers use Icertis as an integral part of their procure-to-pay (P2P) process. Out focus in on supplier risk - jointly with SAP Ariba, and our insights include four-way matching."
- Strategically look at our overall product platform and what we build
- Operationally focus on our customers across the delivery and consumption channels to ensure they are satisfied; and
- Build a world class team with the right talent and attitude to help us scale.
What are your goals for the next 12 months?
"My goal for the next year is to continue establishing our robust scale and efficiency, focusing on standardisation, repeatability, and containerisation. From an engineering perspective, we want to increase automated support for customers and further scale customer operations, with a key focus on metrics so we can measure outcomes for our buyers. We want to ensure our customers see value in our platform and boost their Net Promoter Score (NPS). I also want to ensure high adoption, especially with the latest GenAI technology, and improve the customer experience with our products and services."
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