Best Buy has deployed a platform to accelerate its rebate and promotional contracting with key partners to drive efficiency and reduce risk across the organization.
Contracts form the commercial foundation of an enterprise, managing every dollar in and out of a company. Best Buy chose the Icertis Contract Management (ICM) platform to digitize its manual contracting processes, thereby increasing velocity, creating a single source of truth for tens of thousands of supplier agreements and improving the vendor experience.
Many retail and drug manufacturing companies struggle with the effective management of promotions, rebates and royalty payments. Managing these promotional programs, from initial contracting between partners all the way through to settlement, can create challenges including lost revenue and reduced margins, wasted time on manual promotion tracking and poor visibility across the contract value chain. Icertis's adaptable, AI-infused Icertis Contract Management (ICM) platform quickly turns contracts from static documents into strategic assets.