Sanofi has selected the Icertis contract management platform to help redesign and streamline its contracting processes. The move is intended to drive increased business velocity, and improve monitoring and standardization across the company’s contracting operations.

Sanofi said it chose the Icertis platform due to its ease of use, which will increase adoption and improve contracting speed, and due to its support for many contract types, which will provide greater visibility and help manage risk.

“We are thrilled to have Sanofi, a company that is committed to making a real difference in the lives of people every day, as a customer,” said Samir Bodas, co-founder and chief executive officer, Icertis. “As global enterprises like Sanofi look to transform their commercial foundation, treating contracts as valuable assets rather than static documents is a critical component of that transformation. We are excited to partner with Sanofi as they reimagine contract management for the digital era.”

The Icertis platform’s intelligent risk management capabilities allow companies to identify, assess and automatically mitigate risk, while region-based variations in workflow and support for multiple languages allow companies to monitor regulatory compliance across the globe.

“Of all the information entities in a business, there is nothing more foundational, or business critical, than the contract,” said Pierre Mitchell, chief research officer and managing partner of Spend Matters. “A contract is the ultimate commercial system of record, and as value chains become increasingly complicated and outsourced, the required business agility must get translated into commercial agility. From our analysis of the product, Icertis seems well positioned to serve large enterprises looking for deep and flexible Contract Lifecycle Management support.”

ICM is now used by 4 of the top 7 pharmaceutical companies including Roche, AbbVie, and now Sanofi. In March, the company also introduced an upgrade to their Icertis Clinical Trial Agreement and Budgeting solution designed to improve clinical trials contract management.