Icertis Sets the Bar with Standout Enterprise-Wide Platform
BELLEVUE, Wash., October 24, 2018 – Icertis, the leading provider of enterprise contract management in the cloud, today announced Spend Matters, the leading publication for procurement and supply chain professionals, named Icertis as the functionality leader in its latest SolutionMap benchmark for contract lifecycle management (CLM). Icertis was recognized for its enterprise-wide platform and the breadth and depth of its functional capabilities.
"Based on its demonstrated technological capability, Icertis delivers the strongest performance for a contract management software vendor across all buying personas," said Pierre Mitchell, Chief Research Officer at Spend Matters. "Its performance provides compelling evidence the company is a must-shortlist candidate for all contract management software buying scenarios."
As competition continues to accelerate in the wider procurement and supply chain software market, Spend Matters sees relatively small functional gaps between most competitors. However, the publication discovered this is not the case in CLM and ranked Icertis significantly ahead of all other providers. In addition, Spend Matters found that Icertis is actually extending its lead in the segment by consistently innovating in its core platform and releasing new capabilities such as artificial intelligence (AI) apps built on the Icertis Contract Management (ICM) platform.
"Icertis sets the functional bar for CLM," said Mitchell. "Across all the providers Spend Matters ranks in SolutionMap, only Icertis stands out as the undisputed leader, putting considerable distance between itself and the second-place provider. Furthermore, the functional gap between Icertis and its competitors is widening as the company continues to outpace others in releasing new capabilities."
As part of their rigorous analysis of 11 CLM software companies, Spend Matters ranks Icertis in the top tier for both the breadth and depth of their contract management platform's features. This includes top marks for all requirements related to the process-oriented aspects of the CLM lifecycle, plus the ICM platform's ease of configurability and powerful business rules engine. Finally, Spend Matters notes that Icertis is rapidly moving beyond "core CLM" with advanced capabilities for extended supply chain contract support and risk management.
"The contract management space is experiencing explosive growth as more and more companies realize the need to digitally transform their commercial foundation to accelerate performance, protect against risk and optimize business relationships," said Samir Bodas, CEO and Co-founder of Icertis. "We are excited and honoured Spend Matters recognized Icertis as the front runner in contract lifecycle management."
Spend Matters' SolutionMap Analysis is based on a rigorous evaluation process and customer reference reviews. Each report describes where a vendor excels and provides hard data on where it beats the SolutionMap benchmark. Spend Matters is a global content community dedicated to examining a range of procurement and supply chain issues. The firm provides industry insight from former senior practitioners, consultants and true technology experts. To read the full report, visit Spend Matters' website.
Icertis, the leading provider of enterprise contract management in the cloud, solves the hardest contract management problems on the easiest to use platform. Icertis helps companies transform their commercial foundation ensuring compliance, improving governance, mitigating risk and enhancing user productivity, thereby improving the bottom line. The Icertis Contract Management (ICM) platform is used to manage 5+ million contracts by 2+ million subscribers at companies like 3M, Daimler, Microsoft, Roche and Wipro in 40+ languages across 90+ countries. The AI-powered platform allows customers to increase contract velocity and agility, proactively manage entitlements and obligations as well as surface commercial insights and intelligence.
Icertis Media Contact:
Manager of Corporate Communications, Icertis
+1 (425) 869-7649