BELLEVUE, Wash., Nov. 17, 2016 /PRNewswire/ -- Icertis, the leading provider of enterprise contract lifecycle management in the cloud, today announced a partnership with Thomson Reuters, one of the world's most innovative providers of intelligent information and solutions for businesses and professionals. Enterprises using the Icertis Contract Management platform (ICM) will now have access to data from the Thomson Reuters World-Check risk intelligence screening solution, from within ICM, enabling a seamless due diligence screening process. Icertis is the only contract lifecycle management provider helping enterprises proactively uncover counterparty risk during the contracting process, with the added ability to auto-monitor agreements throughout their lifecycles.
With this partnership, ICM customers can further improve contract compliance and reduce contractual risk across their global contract portfolio. With Thomson Reuters World-Check's extensive network of hundreds of thousands of reputable sources, the joint solution allows enterprises to seamlessly incorporate counterparty screening into the contract management workflow. The new capabilities in the ICM platform will help companies mitigate the risk of doing business with partners, suppliers or customers, by checking if they've appeared on watch lists, have unwitting association with illicit entities, or represent any risk associated with trafficking, fraud, bribery, corruption and organized crime. The ICM system will also raise internal alerts and initiate workflows to draw attention to the risk associated with the company before any business agreement is reached. "Contracts are the foundation for every material commercial relationship in any enterprise, and Icertis' partnership with Thomson Reuters will help our customers better manage their contractual risk, as well as ensure regulatory compliance," said Nagi Prabhu, Chief Product Officer of Icertis. "Icertis is on a mission to be the contract management platform of choice for every enterprise, in every geography, and in every industry. We will achieve this mission by building a great platform and strengthening it through partnering with industry-leading companies, like Thomson Reuters, in complementary categories."