German packaging and bottle manufacturer Krones has selected Icertis Contract Intelligence (ICI) to streamline and unify contract lifecycle management (CLM) for its headquarters in Neutraubling, Bavaria.
The partnership aims to enable increased visibility and compliance with contractual obligations across both buy-side and sell-side contracts for the packaging company.
Krones systems analyst Melanie Feldmeier said: “Every day, millions of glass bottles, cans, and PET containers run through Krones lines. We needed an AI-powered CLM solution to modernise our legacy processes, improve visibility, and process third-party contracts faster while reducing risk.
“Icertis goes well beyond traditional CLM by offering intelligent clause identification and AI-powered insights to ensure compliance with all required terms and clauses. This significantly reduces liability for our business.”
Krones can reportedly create a single source of truth with ICI by consolidating existing contracts into a single, enterprise-wide repository providing speed, compliance, and value at every step in their contracting process.
Icertis vice-president Roman Howe said: “Central to enterprise-wide digital transformation, given the role that contracts play across a myriad of critical business operations.”
A GlobalData report confirms the increased use of AI in the packaging sector, as digitisation can improve forecasting and planning processes across merchandising, supply chains, and operations.
Krones and plastic manufacturer ALPLA collaborated to develop a returnable PET container for sensitive extended shelf-life products in 2021.
