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Contract Intelligence Blog
Jul 19, 2021
Icertis and Microsoft: Celebrating a Decade of Partnering and Winning
Icertis’ relationship with Microsoft runs deep. We’ve long been a Microsoft customer–our platform was built natively on Azure. And Microsoft has long been an Icertis customer—in fact, they were our first!
But more important has been the partnership we’ve formed over the last decade, working together to deliver AI-powered contract intelligence to some of the most iconic brands and innovative disruptors in the world.
The Microsoft Partner of the Year Award comes from the most respected software and digital services company on the planet. Over the last 10 years, Icertis and Microsoft have built a successful partnership based on continuous innovation. This award recognizes the momentum we’ve gained in the marketplace, and that the measurable benefits to our customers specifically from our leadership in delivering Icertis AI applications.
Likewise, Icertis’ innovation as a Microsoft partner has been recognized by a variety of other vendors and organizations. We recently won SAP’s Pinnacle Partner of the Year for SAP Store, just a year into the availability of our solutions listings on the SAP Store. We received the Forbes AI 50 award for three years running and recognition as a category leader in both the Forrester Wave and Gartner Magic Quadrant, with the latter citing our Microsoft integration as a core Icertis strength.
Contract data is empowering
At Microsoft Ignite 2021, Microsoft CEO Satya Nadella highlighted how AI and machine learning models can be used to improve business processes. “Business logic will move from being code that is written to code that is being learned from data, creating a complete new generation of processes and business systems,” Nadella said.
Icertis AI applications use Microsoft Azure AI, Machine Learning and Cognitive Services to help customers ramp up quickly, streamline their contracts, and ultimately achieve their business objectives faster by enabling key contracting outcomes to be addressed with AI technology.
DiscoverAIidentifies contract attributes and clauses, semantically matching them to our customer’s contract type definitions and enterprise clause library, including legacy and third-party contracts.
NegotiateAI analyzes high volumes of contracts to empower companies to optimize contract negotiation, reduce risk, and negotiate better outcomes.
VisualizeAI enables users to quickly find and load large volumes of contract data, navigate complex relationships and easily discover patterns. Allows users to group and link contracts based on status, risk level, or other attributes and then take action across their entire contract portfolio.
In sum, the power of AI enables Icertis to solve previously intractable contract lifecycle management (CLM) challenges that are uniquely suited to AI-powered solutions.
By leveraging access to millions of contracts managed on the Icertis Contract Intelligence (ICI) platform, we train our AI to harness petabytes of contract data to make the entire system smarter and faster.
With natural language processing and other powerful AI capabilities, ICI users can rapidly digitize their legacy and third-party contracts. Because the system has been trained to identify different components of a contract, this digitization process includes tagging and structuring contract data for high-impact insights that help ensure the full value of the contract is realized. Other benefits include fewer errors, faster contract turnaround time, and better negotiation outcomes.
Our customers have seen the difference that Icertis AI applications make for their business.
“Icertis DiscoverAI app rapidly digitized and analyzed more than 70,000 legacy HERE and third-party contracts,” says Simon Anolick, Director Legal Counsel, HERE Technologies, “allowing us to unlock critical contractual terms to improve our business.”
Jyoti Ruparel, Chief Risk Officer at Genpact, notes the power of AI to run a more compliant business. “Using artificial intelligence to improve contract obligation management will help us deliver better value to our stakeholders,” he says. “We are looking forward to Icertis AI capabilities delivering meaningful impact on Genpact’s contract management processes.”
Icertis has come a long way since we started building our platform on Azure. We are now the undisputed CLM leader, and we are delivering category-defining innovation to customers.
Through it all, our relationship with Microsoft has only grown stronger. Our unique customer/partner relationship enables us to build and benefit from joint innovations that we then jointly deliver to customers — a true win/win/win. 10 years into this partnership with Microsoft, we are incredibly proud to be awarded the Azure AI Partner of the Year – and believe the best is yet to come from Icertis and Microsoft.
To learn more about the ongoing Icertis-Microsoft partnership, read the Microsoft + Icertis Innovation eBook, downloadable here.
Icertis Remains a Leader in the Q1 2021 Forrester Wave
Icertis has again been recognized as a Leader in the Forrester Wave: Contract Lifecycle Management For All Contracts Q1 2021 report. This is the second consecutive Wave report to recognize Icertis as a Leader. Read the report and learn more about the impact of CLM and why Icertis has been named a Leader.