Icertis Listed as a Vendor to Watch; Only CLM Vendor Mentioned in Recent Gartner Report
Legacy vendors in the $36-billion-dollar* Enterprise Resource Planning (ERP) market are under pressure from agile, cloud-based providers like Icertis. We’ve seen an increasing number of customers ditching the built in functionality in their ERP suites to adopt solutions like ours.
Traditional, monolithic ERP deployments focused on stability and standardization at the expense of agility. Like a slow-moving oil tanker, those deployments, while vital for business operations, were expensive to maintain and slow to turn. Today, they are perceived to be bloated, inflexible and unable to keep pace with rapidly shifting business requirements in the emerging digital economy.
Today’s companies have to move quickly to capture market opportunities and drive higher valuations and can’t be held back by technology. Gartner continues:
Over the last 25 years, the single monolithic vision of a comprehensive, integrated, end-to-end ERP suite has been rendered obsolete as organizations have rapidly shifted and begun adopting cloud-based specialist solutions that better support their requirement for agility and user centricity.
Cloud platforms like Microsoft Azure allow companies to couple a variety of cloud services together – each one a best-of-breed solution. One of the key requirements of a best-of-breed solution is the ability to exchange data with existing enterprise applications.
In this new era of business software, customers aren’t asking for the solution with the broadest offering. They’re asking for a cloud-based, specialty solution that integrates into any existing system involved in managing the contract lifecycle.
* Gartner, Market Opportunity Map: Enterprise Resource Planning Worldwide, December 2016 (“ERP is a $36 billion market worldwide, with a five-year CAGR of 6.4%. The top 10 ERP vendors account for 50% of total market share.”)
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.