Microsoft Ready To Collaborate With Icertis To Expand Its Blockchain-Based Contract Solution

The recognized contract management company Icertis is going to be collaborating with Microsoft to expand its blockchain-based contract solution. The information was released by the company on June 11 in a blog post.

Icertis and Microsoft Work Together

The leading provider of enterprise contract management in the cloud, Icertis, is going to be working side by side with Microsoft so as to expand the Icertis Blockchain Framework. In this way, it will be possible for the company to create a more sustainable, ethical and open world.

The collaboration will be enhancing the connection between blockchain technology and contract management, which will help deliver more transparency, speed of execution and improved compliance in some of the most important business areas.

As reported by Icertis, one of the firms that have already been working with this technology is Mercedez-Benz Cars. They are working with it to create an immutable distributed ledger of transactions, ensuring global sourcing and contracting practices adhere to the requirements of the firm. Furthermore, customers will have the possibility to address other issues that require transparency.

Using Microsoft Azure Blockchain Workbench, it would be possible to use blockchain solutions on the Icertis Blockchain Framework for Icertis Contract Management (ICM) platform. Moreover, they will also be providing business solutions that leverage AI and ML and blockchain technology.

Monish Darda, the CTO and co-founder at Icertis, said:

“More than ever, enterprises must maintain sophisticated governance and contract compliance, and blockchain technology has a critical role to play. We are thrilled to work with Microsoft to extend the Icertis Blockchain Framework to solve the most critical contracting challenges.”

It is also possible for firms to deploy the IBF to track contractual requirements, obligations, commitments and many other things. This provides users with a new level of collaboration and accountability. It is worth mentioning that the IBF was built on Azure, Blockchain Workbench, Cognitive Search and also Cognitive Services.