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Enterprise solution provider Icertis has announced the release of Icertis Contract Management (ICM v3.0.1). This release will provide customers with support for third-party paper-based contracts, as well as contract risk and compliance management. As an additional benefit, ICM v3.0.1 will allow for collaboration between internal and external stakeholders.

BusinessSoftware.com named the company a “Top Ten” provider of contract lifecycle management software. Icertis recently won the award for “Best Software Solution in Contract Management” at Mumbai’s Logistics and Supply Chain Awards (ELSC Awards), so this newest release can only improve upon an already great honor.

According to company representatives, that is just what v3.0.1 is doing. Anand Veerkar, the executive vice president of global sales at Icertis says that with this new release, “…customers can enforce the control they desire no matter what the contract type and paper across the enterprise.” He adds, “This release brings a differentiating capability in the marketplace with the products’ ability to track and report on compliance on contracts to reduce risk. The increased depth of functionality of ICM and its cloud native architecture puts us in a unique position to address the customer needs most effectively and efficiently as well." One of their customers, a finance manager at Janney, stated that his company expects to be able to leverage these new features to help their growing business.

Some of the features of the new release include: greater integration features, an enhanced feature set (which the company says improves the visibility and usability of the system), governance and control on third-party contracts (which utilizes language tracking and deviation analysis to reduce risk), improved risk mitigation capability (the company says that customers are able to “plug leakages that occur as a result of inconsistent terms across a set of contracts with a customer or supplier”), and improved compliance.