BELLEVUE, Wash., – Nov. 21, 2022 – Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), was named a Value Leader by Spend Matters in its Fall 2022 SolutionMap for CLM. Icertis garnered a top position as one of the best fit vendors for both mid and large-sized enterprises, receiving strong scores from analysts for integration functionality, analytics, user experience, and services.
The Spend Matters’ SolutionMap is one of the most rigorous data-based assessments of procurement technology functionality in the industry, delivered by a leading source of solutions intelligence for the global procurement, finance, and supply chain technology ecosystem. Spend Matters has recognized Icertis as a Value Leader in the CLM SolutionMap for four consecutive years, citing its security, data management and reporting, and automation capabilities as top tier in the market.
“Icertis on its own merits has maintained its pole position in the CLM space, but in 2022 it made a strategic move that put it on a different strategic path entirely: taking on a minority investment from SAP. Icertis is increasingly positioning itself as a central platform for unifying agreements in a manner similar to our framework for commercial value management (CVM),” said Nick Heinzmann, Vice President of Research at Spend Matters.
Icertis is setting a new standard for CLM and pioneering contract intelligence by connecting contract data across the enterprise and applying artificial intelligence to ensure the intent of every business relationship is correctly captured and fully realized. Delivering company-wide visibility into contract data with the scale to manage complex contract portfolios, Icertis enables new insights with every transaction to support efficiency and more strategic decision-making for finance, legal, and procurement teams.
“Industry experts like Spend Matters recognize the critical role that contracts play in digital transformation strategies and predict the pace of innovation will only continue to accelerate as vendors look to meet evolving business needs,” said Niranjan Umarane, Executive Vice President of Product Management at Icertis. “That’s why we are continuing to apply a long-term mindset to the functionality we deliver for our customers through the Icertis Contract Intelligence platform, helping them harness the power of data and AI to ensure the intent of every contract is correctly captured and fully realized, transforming the way contracts impact crucial outcomes around revenue, risk, and compliance."
Icertis was recently selected as a Spend Matters “50 to Know” organization, recognizing the company as one of the 50 technology providers delivering enterprise-level solutions to drive better procurement outcomes. Icertis was also named a Leader in the 2022 Gartner Magic Quadrant for CLM, honored as a 2022 Microsoft Partner of the Year, and named a winner in the 2022 International Business Awards.
Spend Matters’ SolutionMap contains 500+ RFI requirements across 10 source-to-pay (S2P) module and suite categories highlighting the real capabilities of each vendor. Customer feedback also factors into the vendor rankings.
About Spend Matters — Solution Intelligence for Procurement
Spend Matters started as the first blog and social media site in the procurement and supply chain sector and has since grown into the leading source for data-backed technology and solutions intelligence. Serving private and public sector organizations, consultants, private equity and services and solution providers, Spend Matters drives strategic technology purchasing decisions and superior marketing, product, sales and investment outcomes for clients. Spend Matters is the only tech-enabled, proprietary data platform with exclusive IP that serves the global procurement, finance, and supply chain technology ecosystem.
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 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 ten million+ contracts worth more than $1 trillion in 40+ languages and 90+ countries.
Senior Manager, Corporate Communications