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December 14, 2021

IBM's 2021 AWARD FINALIST CASE STUDY: Best Achievement in Process Automation

Read this article about IBM, Finalist in the Best Achievement in Process Automation (RPA, Intelligent Automation, Digital Process Automation, Machine Learning, Cognitive Learning, Blockchain etc), selected by the independent judging panel, for the 2021 Digital Transformation & Operational Excellence Industry Awards program.

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IBM - Infusing AI in Enterprise Contract Lifecycle Management (ECLM)

The goal of this initiative is to integrate artificial intelligence (AI) into ECLM processes providing a seamless user experience to drive productivity & speed. The aim is to accelerate and scale cognitive initiatives and practices across IBM and its clients, re-imagining IBM business platforms, intelligent workflows, and employee experience – treating IBM as "client zero" and showcasing it as the gold standard for Cognitive Enterprises. 

Awards CTA

Enterprise Contract Lifecycle Management (ECLM) is a key component of Lead to Cash organization for managing contracts. It includes:

  • Template Administration - Streamlined development, localization and maintenance of standard contract templates
  • Contract Lifecycle Management Enablement
    • Draft Content - Quickly assemble contracts from a controlled set of pre-defined templates
    • Execution - Optimize the contract lifecycle from creation to signature, with backend integrations
  • Enterprise Contract Repository (ECR) - A single location to store, manage, and gain insights on signed contracts performance 

Screenshot_30IBM has infused AI in all three stages of contracting by developing a major solution powered by IBM Watson, IBM research deep learning, and multiple machine learning (ML) models. These components are used by different persona (sellers, offering managers, C&N professionals, risk managers, lawyers) in various stages of contracting and have proven to be successful in all phases of ECLM.

This AI solution is aligned with the corporation's strategic priority of accelerating its path towards the Cognitive Enterprise. 

  • Prepare templates phase is addressed by a component that suggests which clauses to use in a contract based on recommendations powered by AI model. 
  • Contract preparation and execution benefits from the analyzer component that leverages natural language processing (NLP) and analytics capabilities to analyze unstructured contract language to identify and mitigate risks prior to contract signing. It also makes the identified risks readily available to the opportunity owners and the delivery teams once the contracts are signed.
  • Enterprise Contracts Repository is enabled with the Contract AI, which is a cognitive layer providing AI powered search capability within and across universe of signed contracts in IBM.

New Awards CTA

IBM’s AI in ECLM is designed to offer a fully cognitive-enabled sales experience through the use of embedded AI, natural language processing, and advanced analytics within the end-to-end contract lifecycle management to drive productivity and speed. This initiative introduced AI driven automation and delivered yearly productivity savings equal to $9M USD, largely due to reduced cycle time, improved quality and speed.

IBM is transforming contracting processes and technology to delight its customers with best-in-class user experience by reducing complexity and risk and increasing transparency in the contract lifecycle. AI in ECLM helps IBM reduce cycle time in contracts processes, improve the quality of contracts being signed, resulting in higher client satisfaction.

 

Digital Transformation & Operational Excellence Industry Awards 2021

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About the Awards

The Digital Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding achievements through the application of Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs. Click here to view the Press Release.

The winners will be announced at the Awards Ceremony at The Digital Transformation & Operational Excellence World Awards (DTOES) on Wednesday, December 15th, 2021, from 6:30 PM at the Loews Portofino Bay Hotel at Universal Orlando Resort.

The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs to deliver outstanding business results.

The Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit, BTOES 2021 on December 15, 2021, at the Renaissance Orlando at SeaWorld®. Click to access the agenda, view the current speakers, and watch the highlights video from last year.

Speakers

Agenda

Highlight Video 

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BTOES.com

The issues in this article are just one of topic areas that are going to be discussed at the Business Transformation & Operational Excellence World Summit & Industry

BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.

With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level. 

Quick Links

Speakers

Agenda

BTOES Awards 

There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.

The agenda is designed to encourage active meaningful conversations though all day enhanced networking and interaction opportunities, including

For more information please email info@proqis.com


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BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120