AI-Powered Contract Intelligence Platform Achieves Leader Status for Second Consecutive Report on CLM, Highest Scores in Both Current Offering and Strategy Categories
BELLEVUE, Wash., February 25, 2021 – Icertis, the contract intelligence company that pushes the boundaries of what's possible with contract lifecycle management (CLM), today announced its platform was recognized as a leader in Forrester's recent report, The Forrester Wave™: Contract Lifecycle Management For All Contracts, Q1 2021. The report credits Icertis' laser focus for its position as a leader, also noting its advanced AI capabilities, high-profile customer list, and giving it the highest score possible in the partner ecosystem criterion.
Remains A Leader in CLM
The Icertis Contract Intelligence (ICI) platform received the highest score of all vendors in both the Current Offering and Strategy axes, according to Forrester's rigorous grading scale. The ICI platform also earned the highest score possible (5.0/5.0) in 27 out of 32 criteria including Implementation Strategy, Scalability and Security, and Usability. In its vendor profile of Icertis, the report states, "Icertis has strengths across all the CLM functional areas, including contract creation, contract repository and analytics, supported contract types, contract management, and technology aspects."
"Receiving the highest scores for both the Current Offering and Strategy validates our unrivaled expertise and unmatched technology," said Samir Bodas, CEO and Co-founder, Icertis. "Icertis is delivering contract intelligence to the most innovative and disruptive companies around the world and our customers are proof that organization-wide, AI-powered, contract intelligence delivers exceptional business value. This is a testament to our enduring commitment to our customers and driving innovation to improve business in ways never imagined."
Recognized for "Very Advanced" AI Capabilities
Icertis was especially recognized in the artificial intelligence (AI) strategy criterion with the highest score possible (5.0/5.0). "Its AI capabilities are very advanced and benefit from the willingness of most of its clients to let Icertis use their contract data on an aggregated, anonymous basis to train its AI engines," wrote Forrester in the report.
Icertis harnesses the power of AI for contract management by leveraging the unmatched quantity, quality, and variety of data in the ICI platform to create innovative applications that allow organizations to connect the contracted obligations and entitlements to delivery and transaction data, ensuring the intent of every contract is fully realized. With Icertis AI, customers can maximize revenue, manage costs, and reduce risks in real time.
Receives Top Score Possible in Partner Ecosystem
Icertis also received the top score possible for the Partner Ecosystem criterion (5.0/5.0), a component of the Strategy category in the report.
Icertis' technology partners, such as Microsoft, Salesforce, and SAP, provide the right experiences, products, and tools to extend the value of ICI for our joint customers. Its services partners, such as Accenture, Deloitte, PwC, and Wipro serve as trusted advisors who are extensively trained on the ICI platform to deliver high quality strategic consulting, implementation, support, and managed services. These deep connections with leading technology and services partners enable Icertis to deliver a best-in-class end-to-end solution ensuring its customers achieve their business objectives.
Customer and Market Momentum
Amid the commercial turbulence typified by COVID-19 and continuous change in the regulatory landscape, CLM has emerged as a must-have technology for companies of all sizes. CLM is no longer confined to siloed processes within the legal, procurement, or sales functions, but now informs decisions made by the entire C-suite. CLM is today the core system of intelligence to manage customer, supplier, partner, R&D, and employee contracts across the enterprise.
The ICI platform brings a new level of intelligence and transparency through innovative technologies such as AI and Blockchain which enable businesses to ensure accuracy and compliance across the entire contract lifecycle. That is why a growing list of iconic brands and disruptive innovators trust Icertis. On this momentum the Forrester report noted, "Rated as a leader in our 2019 CLM Forrester Wave, Icertis has attracted a long list of more than 200 high-profile clients, including Airbus, Cognizant, Daimler, Johnson & Johnson, and Microsoft." In the last twelve months alone Icertis has announced significant wins, expansions, and implementations with incredible organizations from startups to global leaders including companies like Aldi,Auth0, Best Buy, Boeing, Elkem, Humana, L'Oréal, Porsche, Regeneron, ServiceNow, and more.
For more information, visit www.icertis.com.
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 7.5 million+ contracts worth more than $1 trillion, in 40+ languages and 90+ countries.