NEW REPORT: The State of CLM and AI-Powered Contract Intelligence

Icertis Announces Record Momentum in Europe During Second Half of 2021

AkzoNobel, EMAG Group, Red Bull GmbH, and Others Select Icertis Contract Intelligence, Company Deepens Expertise in Automotive, Consumer Goods, and Manufacturing

FRANKFURT, Germany – 9 March, 2022 –Icertis, the contract intelligence company that pushes the boundaries of what's possible with contract lifecycle management (CLM), today announced significant sales momentum across Europe. In the second half of 2021, innovators in The Netherlands, DACH, France, Ireland, and the UK, selected Icertis to transform their contract management. These customers join an impressive roster of existing Icertis customers in Europe, including a world leader in cosmetics and beauty, as well as a manufacturer of confectionery and chocolate products.

The Icertis announcement follows the company's 08 March, 2022 press release announcing record performance in the second half of 2021, highlighted by almost half of its existing customers expanding their relationship with Icertis and a record number of market-leading brands joining its customer roster.

Contracts are the single source of truth for all commercial, operational, and legal entitlements and obligations of a company. Icertis structures and connects this business data so that customers gain the transparency and agility to move faster and deliver on their commitments. Icertis Contract Intelligence (ICI) digitizes the contracting process, extracts the critical structured and unstructured data in contracts, connects this data to operational surround systems, and uses artificial intelligence (AI) to ensure the intent of every contract is fully realized.

Icertis has long celebrated working with leading automotive, aviation, and transportation manufacturers including Daimler and Porsche. In the 2H 2021, the company further deepened its expertise in the automotive space with Icertis' first customer in Ireland, and a Germany-based global supplier to the automotive and industrial sectors. The newly added brands to the Icertis customer base underscore the organization-wide value that Icertis Contract Management delivers across all industries, including:

  • AkzoNobel — The manufacturer and distributor of world-class paints and coatings, based in the Netherlands, will use ICI to digitize the commercial, supplier and distributor contracts. With the platform, the company will provide transparency about risks and obligations across the organization, enabling legal, procurement and sales teams to visualize contract data, analyze risks and obligations, and fully realize the intent of every contract – helping to modernize contracting.
  • EMAG Group — A mid-size German manufacturer, focused on manufacturing systems for the end-to-end process chain, from soft to hard machining. EMAG chose Icertis Contract Intelligence to accelerate purchasing and sales and to address compliance and risk management challenges.
  • Red Bull GmbH – Red Bull will work with Icertis Contract Intelligence across both matter management and contract lifecycle management.

Icertis also saw significant expansion of solution use with its existing customers in Europe. For example, long-standing France-based customer Sanofi expanded its use of Icertis with Icertis DiscoverAI.

"Deploying the Icertis Contract Intelligence (ICI) solution has been a critical enabler to our Contracting Centre of Excellence (CCoE). It has significantly improved our performance, decreasing cycle times on various contract categories" said Sandrine Fleischman, Global Head of Contracting Centre of Excellence, Sanofi. "ICI provides a single tool and a streamlined process to facilitate contract management and improves monitoring and standardization across contracting operations. We are now building on this success by rolling out Icertis AI technology to maximize the value of our contract data. With AI, we will be able to import third-party contracts at scale, control data quality and facilitate monitoring of contractual obligations."

About Icertis

With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what's possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs. Today, the world's most iconic brands and disruptive innovators trust Icertis to govern the rights and commitments in their 10 million+ contracts worth more than $1 trillion, in 40+ languages and 90+ countries.

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