AI-Powered Contract Intelligence Reshapes Procurement
Icertis stands out as a worldwide beacon in the realm of AI-powered contract intelligence.
The company provides innovative solutions that are transforming how businesses handle contract management, delivering profound automation and insights. These advancements help in boosting revenues, curbing expenses, managing risks and bolstering compliance regulations.
In a joint venture with ProcureCon Insights, Icertis has publicised its latest ‘2025 ProcureCon Chief Procurement Officer Report’, an annual survey illuminating the significant tilt towards AI adoption among procurement leaders.
According to the survey, a staggering 90% of these leaders are considering or already utilise AI agents to enhance operations in the coming years.
Furthermore, 40% of CPOs are setting their sights on elevating their organisational value beyond just cost savings by embracing advanced analytics and artificial intelligence.
Boosting Enterprise Profitability
By incorporating such cutting-edge technologies, the procurement sector is elevating its role in influencing overall enterprise profitability.
It is seizing opportunities to directly affect commercial outcomes through well-strategised contracts.
Bernadette Bulacan, Chief Evangelist at Icertis, elaborates on this dynamic, stating, “Global commerce is comprised of relationships between customers and suppliers, each embodied in a contract that starts at the negotiation table in procurement.
"With AI agents, procurement teams have tremendous potential to action smarter decisions about those relationships and ensure optimal commercial outcomes for all parties.
Bernadette goes on to explain the transformative capabilities of these AI agents: “By automating complex contracting tasks at scale while keeping financial goals at the forefront, these agents will fundamentally transform the foundation of commerce in 2025, empowering enterprises to realise the full potential of every relationship and bringing data-driven strategies to life across core functions like procurement, legal and finance.”
Challenges and AI Integration
The year 2025 forebodes specific challenges for Chief Procurement Officers (CPOs) including the diversification of supplier bases and management of supply chain disruptions.
35% of CPOs also emphasise the necessity to focus on inflationary pressures and associated cost increments, making these some of the primary concerns for the near future.
Moreover, the reduction of maverick spend remains a priority; even though 64% have seen improvements in their spend over the last year, 62% report that their Return on Investment (ROI) has either stagnated or deteriorated.
Icertis accentuates the crucial role of AI in refining contract terms and introducing revenue-enhancing clauses within every contract as a solution to these ongoing issues.
The report also ranks AI utilisation in procurement processes and decision-making (66%) and improving ROI and speed-to-value (55%) as top priorities, even above environmental, social, and governance (ESG) concerns, sustainability and compliance enhancements.
Chris Rand, Head of Research at ProcureCon Insights, comments on this shift: “We’re witnessing a substantial shift in the procurement function from reactive to proactive as CPOs look to anticipate challenges and build resilience for their businesses with new strategies and technologies.
“The next generation of leaders is not only embracing AI, but demanding a tech-first approach to sourcing and contracting processes that welcomes AI as a coworker in the ongoing race to capture more revenue.”
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