October 14, 2019
Icertis, experts in cloud-based enterprise contact management, has undertaken a survey using advanced machine learning looking at a sample of its 6.5 million-strong database of contracts managed within its Icertis Contract Management (ICM) platform. The reason: to identify the level of exposure of companies to Brexit-related contract risk and the implications of non-compliant contracts in a post-Brexit world. Read More
October 8, 2019
An analysis of 6.5m contracts on the Icertis Contract Management platform has found that, for enterprises with operations spanning the EU, more than 10% of contracts may be impacted by regulatory, freedom of movement, tariff, customs and other jurisdictional issues associated with a no-deal Brexit. Read More
October 7, 2019
Analysis uncovered that, for enterprises with operations spanning the European Union, more than 10 percent of their contracts may be impacted by regulatory, freedom of movement, tariff, customs and other jurisdictional issues created by Brexit. With the average Global 2000 corporation having tens of thousands of active contracts in the EU, the number of affected agreements could be massive, and the effort to amend them significant. Read More
September 23, 2019
Dan Adams, from the CLM specialist Icertis, talked about a procurement-specific trend — contract-centric sourcing. The idea is that technology is at the stage now that contracts can be put at the center of all transactions. Doing so will pull contracts from dusty file cabinets and make them dynamically connected to the business. Read More
September 17, 2019
Icertis ranks number 7 in Forbes annual list of the most promising American artificial intelligence companies. It’s offerings “have brought on clients from more than 90 countries, including Airbus (France), Daimler (Germany) and Microsoft.” Read More
September 16, 2019
“The implementation of a category strategy is seen as best practice in procurement. But contracts themselves hold the key to success.” Vivek Bharti General Manager of Product Manager at Icertis explains some of the solutions and strategies procurement professionals can employ for better category management. Read More
September 11, 2019
Tech’s hottest category is transforming how we communicate, collaborate at work and protect our identities in the digital age. For the fourth consecutive year, the Forbes Cloud 100, produced in partnership with Bessemer Venture Partners and Salesforce Ventures, recognizes the best private cloud companies in the world. Read More
September 9, 2019
In the lead-up to the 2019 Frankfurt Motor Show, Microsoft is touting its Connected Vehicle Platform (MCVP) and Microsoft for Startups: Autonomous Driving. BMW is continuing to work on the Open Manufacturing Platform with Microsoft, while Icertis sets up its Contract Management blockchain on Azure. Read More
September 4, 2019
Blockchain in supply chain. In February 2019, Daimler announced a partnership with enterprise contract software company Icertis to implement blockchain in its supply chain. Daimler intended to use blockchain to keep track of whether suppliers were meeting the control standards it requires from suppliers, particularly surrounding working conditions and ethics standards. Read More
August 30, 2019
Icertis, the leading provider of enterprise contract management in the cloud, announced Flight Centre Travel Group – The Americas (FCTG-The Americas), an industry leading travel agency group, has retained the Icertis Contract Management (ICM) platform as its contract management solution across its Americas operations, including the United States, Canada and Mexico. The travel services provider expects the platform to accelerate contracting and optimize its commercial relationships with the company’s thousands of travel partners. Read More
August 26, 2019
Let me start by saying you can never get blockchain right — you have to get your business case right to make practical use of the technology. Read More
August 2, 2019
“Contract management startup Icertis has just raised $115 million, achieving unicorn status with a valuation exceeding $1 billion. Samir Bodas, Co-founder and CEO of Icertis, joined Cheddar to discuss how blockchain technology ensures security in contract management.” Watch Here
July 30, 2019
“Samir Bodas and I co-founded Icertis ten years ago and soon realized the untapped potential of the Contract Lifecycle Management (CLM) market. We embarked on this journey to become the enterprise contract management platform of the world.” Read More
July 18, 2019
“Icertis has become the latest software-as-a-service (SaaS) firm to be valued at more than $1 billion, after the enterprise contract management software provider raised $115 million in fresh funding led by US-based venture capital firm Greycroft and Premji Invest.” Read More
July 17, 2019
“Icertis announced today that its latest funding round raised $115 million and that the provider of contract lifecycle management (CLM) is now valued at more than a billion dollars, reaching proverbial ‘unicorn’ status.” Read More
July 17, 2019
“Icertis, welcome to the unicorn club. The Bellevue, Wash. contract management startup today announced a whopping $115 million investment, the second-largest funding round for a Seattle-area startup so far this year, to push its valuation past $1 billion. The 10-year-old company has now raised $211 million to date as it aims to fend off an ever-growing list of competitors.” Read More
July 17, 2019
“Billionaire Azim Premji has helped create India’s latest tech unicorn: a fast-rising software startup that symbolizes the growing investor interest in the Asian nation’s enterprise technology space.
Icertis, which competes with SAP SE and Oracle Corp. to help businesses manage contracts in the cloud, has raised $115 million, propelling it to unicorn status as investors flock to enterprise software makers.” Read More
July 1, 2019
“As 31 October draws closer, organisations across all sectors are putting contingency plans in place for whatever the impact of Brexit may be. However, for pharmaceutical organisations already operating in a heavily regulated, highly competitive landscape, the future looks a lot more uncertain than for most. Here, Neal Singh discusses digital initiatives that could help companies to get ahead of the curve.” Read More
July 1, 2019
“Enterprise contract management company Icertis announced that it will collaborate with Microsoft to extend its Icertis Blockchain Framework for Azure. The offering is intended to help coordinate blockchain systems, ensuring that data reads and writes to the right places. Out of the box, it supports Ethereum and Hyperledger, with the option to build adaptors for other blockchain systems.” Read More
June 17, 2019
“EBG was able to interview Peter Tull, Director Group Supply Chain at Lantmännen and ask him about how they choose to develop procurement in general and contract management in particular.” Read More
June 14, 2019
“Major enterprise contract management service Icertis will collaborate with Microsoft to expand its blockchain-based contract solution, the company announced on June 11. By entering the collaboration, Microsoft will help Icertis to extend its Icertis Blockchain Framework, which is designed to enhance the transparency and efficiency of contractual frameworks using smart contracts technology.” Read More
June 14, 2019
“Three prominent Seattle-area CEOs — Kristina Bergman of Integris Software, Samir Bodas of Icertis, and Arif Kareem of Extra Hop — discussed a wide variety of topics during a session on our business track last week at the GeekWire Cloud Summit. Just before piercing the hype around artificial intelligence, they also discussed how tech infrastructures spread across multiple cloud providers and on-premises infrastructure are what customers want from their services.” Read More
June 13, 2019
“The contracting system, Icertis Blockchain Framework, is hosted on Microsoft’s Azure cloud platform. This week’s announcement claims that it is the first framework to link DLT to enterprise contract management “in a meaningful way”.” Read More
June 13, 2019
“The Icertis Blockchain Framework was built on Azure, Blockchain Workbench, Cognitive Search and Cognitive Services. As such Icertis believes the Blockchain Framework is the first to connect blockchain and distributed ledger systems (like Ethereum and Corda) to an enterprise CLM system in ways that have a broad-based and productive effect.” Read More
June 12, 2019
“Icertis, provider of enterprise contract management in the cloud, has collaborated with Microsoft to expand blockchain for increased sustainability. By enhancing the link between blockchain and distributed ledger technology, the firms aim to improve critical business areas.” Read More
June 6, 2019
“Icertis, the leading provider of enterprise contract management in the cloud, announced it has been recognized by CB Insights, a technology market intelligence platform that analyzes startup data, as the most well-funded startup in Washington State developing products infused with Artificial Intelligence (AI) capabilities. Icertis’ $96 million in funding led to top billing in the state-by-state analysis.” Read More
June 5, 2019
“The world’s biggest technology companies are pouring billions of dollars into developing sophisticated artificial intelligence capabilities, but its usefulness in all but the most complex scenarios may be a bit overblown, according to a group of startup CEOs.” Read More
May 15, 2019
“Icertis on Wednesday announced DenizBank selected the Icertis Contract Management (ICM) platform to serve as its contract management foundation. To support its growing operations, DenizBank was looking for an easy-to-use enterprise contract management platform that would integrate with the company’s home-grown financial application.” Read More
May 10, 2019
“Enterprise cloud-based contract lifecycle management specialists, Icertis, have been on a tear lately. Over the past few months, they have been announcing new wins and new products at an accelerating pace. The recent slew of announcements include new customer wins with Centennial Coal and Treasury Wines in Australia, Lantmännen and Bertelsmann in Europe and Norfolk Southern in the US.” Read More
May 6, 2019
“Norfolk Southern has selected the Icertis Contract Management platform as its contract management system. Icertis said this offers the ability to automatically create contract amendments when business conditions change, enabling the railway to respond to fluctuations in the market.” Read More
May 3, 2019
“Consisting of more than 400,000 suppliers, Daimler’s supply chain is a complicated beast. Throw in creaking procurement software that’s a quarter of a century old, and supply chain management can start to look like the stuff of nightmares. As one of the world’s biggest automotive forms, Daimler knew it needed to modernise.” Read More
May 1, 2019
“Icertis recently announced that Norfolk Southern Corp. has selected the Icertis Contract Management (ICM) platform to serve as its enterprise-wide contract management system. The ICM platform will help NS modernize its contract management processes to accelerate contract velocity, protect against risk and better optimize commercial relationships, Icertis officials said in a press release. The platform will standardize contracting for several thousand enterprise users in all contracting scenarios across the railroad. ICM is designed to automatically create contract amendments when business conditions change, enabling NS to respond to market fluctuations. The platform can integrate with other enterprise systems and automatically update contracts based on pre-defined business rules.” Read More
April 24, 2019
The “pilot follows other automakers’ blockchain announcements where, for instance, Mercedes-Benz said earlier this year it has partnered with Icertis to help document supply chains and gain visibility into third-party suppliers.” Read More
April 23, 2019
“Fellow German car manufacturer Mercedes-Benz made headlines when it announced its latest blockchain pilot in February.
The company partnered with Icertis, a contract management provider for enterprise businesses, to leverage blockchain technology to help with the documentation of contracts in the supply chain, in a bid to vet third-party suppliers.” Read More
April 10, 2019
“Microsoft is fleshing out its AI platform for developers creating AI-enabled applications. The platform includes open source machine learning frameworks such as Tensorflow and Pytorch, integrated with an Apache Spark service called Azure DataBricks.” Read More
April 17, 2019
Icertis, den ledande leverantören av lösningar för kontrakthantering i molnet, berättar idag att Lantmännen, en av norra Europas ledande aktörer inom jordbruksprodukter, bioenergi, och livsmedel, har valt Icertis Contract Management (ICM) platform för att digitalisera all administration och hantering av kontrakt. Read More
April 16, 2019
“Icertis, den ledande leverantören av lösningar för kontrakthantering i molnet, berättar idag att Lantmännen, en av norra Europas ledande aktörer inom jordbruksprodukter, bioenergi, och livsmedel, har valt Icertis Contract Management (ICM) platformför att digitalisera all administration och hantering av kontrakt.” Read More
March 25, 2019
“The first step to augmentation for a CPA is to shift the mindset from one of a compliance and process emphasis to one of seeing the benefits of automation and data
One example of this is Icertis, a company that Ignition has been an investor in since Leap Day of 2016. Icertis provides an intelligent Contract Lifecycle Management (CLM) platform that allows enterprises to turn their contracts into valuable corporate assets by increasing contracting velocity, mitigating risk, and managing vendors.”
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March 19, 2019
“Ganguly’s and Saverin’s big idea was to provide much of the benefit with no strings attached. BCG is a passive investor in B Capital, meaning they only call in the consultants when founders ask. “It’s the cherry on top of the cake,” says Samir Bodas, CEO of Bellevue, Washington-based Icertis, a contract management software maker that has signed at least three multimillion-dollar deals from connections made by senior partners at BCG.”
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March 15, 2019
“For Icertis this is a good win for two reasons. The first is that it will be able to gain specific domain knowledge of the Australian mining industry. As one of the key industries in the country it will then be well poised to take more market share. Especially if it can demonstrate success and business success at Centennial.
The second is that the wider Banpu group will watch this project with interest. One of the parent companies key strategies is to get smarter. If Icertis delivers at Centennial this may open up further opportunities in the wider group.”
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March 14, 2019
“For businesses looking for Blockchain projects that can offer real value, contract management offers fertile ground to use this new technology to accelerate the business, protect against risk and optimize commercial relationships. For any company managing multiple contracts, contract management makes perfect business sense – especially in today’s highly regulatory, compliance-heavy and high-risk environment.”
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March 13, 2019
“Icertis said the platform will be a driver in progressing the operator’s buy-side contracting, which will in turn boost Centennial’s compliance and optimise the on-site performance of its commercial contractors.
It is also focusing on driving efficiency and transparency in the effort. Increasing transparency into the contracting process will improve Centennial’s efficiency by flagging contract expirations and giving the company the ability to properly plan for upcoming projects, it said.”
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March 9, 2019
“The business world is changing. It’s no longer enough for procurement organisations to balance risk with accelerating business; they need to find ways to actually reduce risk and accelerate the pace of business themselves. Contract-centric sourcing provides a new approach that drives value and improves efficiency of the sourcing process.”
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March 6, 2019
Supply chain and ethical supply chain management are a growing issue, especially for large enterprises with significant brand exposure.
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February 25, 2019
Mercedes and software company Icertis teamed up to create “a consistent documentation of contracts in the supply chain”. The carmaker said it “requires its direct suppliers to vigorously pass on and control standards and contractual obligations with regard to working conditions, human rights, environmental protection, safety, business ethics and compliance within the supply chain.”
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February 25, 2019
“Mercedes-Benz Cars is testing a prototype blockchain project with strategic partner Icertis focusing on consistent documentation of contracts in the supply chain.
It said: “Daimler requires its direct suppliers to vigorously pass on and control standards and contractual obligations with regard to working conditions, human rights, environmental protection, safety, business ethics and compliance within the supply chain.”
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February 25, 2019
“Mercedes-Benz Cars has announced that it has entered into a partnership with Icertis, a leading provider of enterprise contract management solutions, to implement a blockchain solution for consistent documentation of contracts in the supply chain.
The partnership is part of Daimler’s supply chain visibility initiative, which requires direct suppliers to “vigorously pass on and control standards and contractual obligations with regard to working conditions, human rights, environmental protection, safety, business ethics and compliance within the supply chain.”
Read More
December 11, 2018
“If your only knowledge of Seattle tech came from reading the national news, you’d be forgiven for thinking this was a two-horse kind of town. And yes, with employee counts and square footage to rival a small European kingdom, Amazon and Microsoft cannot be ignored.
But while the world trains its eye on two of Puget Sound’s most famous exports, a galaxy of growth-stage companies are developing cutting-edge technologies all over the city, transforming the worlds of cybersecurity, gaming, cannabis, business operations and the Internet of Things — among many, many other verticals. The scene here is characterized by smart people quietly working to solve incredibly difficult problems.”
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December 10, 2018
“The ICM product portfolio, consisting of the platform and dedicated applications, enables companies to achieve this goal by more effectively connecting business opportunities with their supply chain, filling one of the biggest gaps in companies of the digital age,” says Samir Bodas, co-founder of Icertis.
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December 7, 2018
“But using technology to optimise previously complex, time consuming processes is not a new concept. However, employing artificial intelligence (AI) for the analysis and management of traditionally unstructured information, has the potential to not just unlock more value for users but also provide insights that have not been possible before. That is why artificial intelligence for the lawyer or for legal workers is beginning to gain traction. Indeed, the future of legal profession may well be AI and the impact of technology on legal profession will be significant indeed.”
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December 4, 2018
“Levvel Research, formerly known as PayStream Advisors, is proud to announce the winners of its ninth annual Innovation Awards.
In this year’s selection process, Levvel Research judged leading software providers’ ability to meet organizations’ top back-office transformation goals using emerging technology. The team evaluated over 90 providers and used product demos, customer testimonials, and in-depth interviews to help identify the most innovative companies.”
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November 30, 2018
“Icertis announced it had hired tech finance veteran Curt Anderson as its chief financial officer. He replaces former CFO Dan Kaltenbach who, according to our sources, has exchanged Bellevue’s bright lights for the peace and quiet of a farm in eastern Washington.”
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November 5, 2018
“Curt Anderson, who was CFO of startup Chef Software and had a long career at Microsoft prior to that, has come onboard as chief financial officer of Icertis. Icertis, which is based in Bellevue, Wash., provides enterprise contract management in the cloud. The company said Anderson will lead all financial operations including strategic planning, financial analysis, accounting and compliance, and core business systems and processes.”
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October 28, 2018
“Derived from French for ‘beautiful view’, Bellevue is the second largest city centre in Washington state with 1,300 businesses and 45,000 employees. Home to many large and small businesses, this is where Samir Bodas and Monish Darda built a global organisation over the past few years.
The journey of Icertis – from a company that built multiple cloud-based applications to a leading enterprise contract management platform in the cloud – has been serendipitous. It took a chance meeting to put the founders on this track.”
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October 24, 2018
“Contract management systems are slowly becoming ubiquitous in organizations and are helping them to invigorate sales, increase cost-efficiency, and in adhering to the ever-changing regulatory compliance rules. Albeit contracts are foundational to commerce, the contracting process is often unorganized, which makes it tedious to execute and increases downtime when multiple owners and departments are involved in a deal. Often, lengthy contract cycle times slow down revenue recognition, and in many cases, companies lose revenues due to poor contract management.”
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October 23, 2018
“Software firm Icertis which provides enterprise contract management in the cloud to enterprise businesses is doubling down on the Asia Pacific region driven largely by India.
The firm which counts IT giants like Infosys, Wipro, Genpact, Cognizant as also Lupin and Mindtree amongst its clients in India is looking to widen its clientele in the country for which it is in talks with leading firms in the banking, manufacturing and pharma industries.”
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October 20, 2018
“The Supply Chain Matters blog continues to highlight current signpost examples in the deployment of artificial intelligence, predictive analytics, and other advanced technologies in the evolution toward supply chain digital transformative process capabilities.
As an end-to-end supply chain management blog focused on business process and technology, we field a lot of questions related to viability of machine-learning (ML) and artificial intelligence (AI) or overall digitally based information architecture strategies applied to enhancing various supply chain decision-making processes. Some rightfully question whether this is more vendor hype or whizz-bang technology seeking a solution.”
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October 19, 2018
“The pharmaceutical industry is undergoing a period of rapid change. Merger and acquisition activity is high, regulations are becoming more stringent, and companies are forced to be evermore focused on cost. Regulation challenges were recently made more complex by the introduction of GDPR and uncertainty in Europe around Brexit.”
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October 17, 2018
“As of Q3 2018, Spend Matters SolutionMap provides functional and customer satisfaction benchmarks for more than 50 software providers within the procurement, finance and legal technology sectors. To date, we have rated 13 providers for the contract lifecycle management (CLM) benchmark. Not every provider, however, has yet appeared in the CLM SolutionMap ranking charts and SolutionMap Insider subscription publications, because some are simply too far off the functional mark to make the cut.”
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October 16, 2018
“Bellevue-based Icertis announced on 17 October that it has been selected by Airbus to implement its digital transformation solutions across the aerospace manufacturer’s global supply chain
The firm, a leading provider of cloud-based enterprise contract management, will leverage the Icertis Contract Management (ICM) platform and the ICM Sourcing application to develop Airbus’s source-to-contract solution across its various divisions.”
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July 30, 2018
“Icertis has announced that Australian Unity has selected Icertis to transform the management of its contracts. Australian Unity is a leading national health, wealth and living mutual company founded more than 175 years ago. It offers a diverse range of services and signs a large volume of contracts every year.
Australian Unity selected the Icertis Contract Management (ICM) platform to shift the focus from signing and storing to actively using contracts for greater benefit. As companies are realising, contracts should be living documents that can help generate both insights and income. Instead, they are often left languishing in a filing system or cupboard and only referred to at the renewal stage.”
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June 27, 2018
“With all this overuse the general public is becoming AI intolerant now, says Monish Darda, CTO of Icertis. He’s a purist who offer genuine artificial intelligence based on a deep process of machine learning and data science. Understandably, he’s appalled at all the posers parading around these days, showing off their unearned medals.
Darda’s intelligence (he attributes it to serendipity) is obviously the genuine article because people keep buying the companies that he’s involved in. Websym Technologies was ahead its time, Storability was bought by Sun Microsystems and Blade Logic provided the server management leader that BMC Software had to acquire.
At Icertis Darda and co-founder, Samir Bodas seem to have anticipated the next big wave and put aboard in place in anticipation of a massive swell of energy in enterprise contract management”
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June 5, 2018
“Icertis, the leading provider of enterprise contract management in the cloud, has announced that MODEC, a leading specialist of floating production systems for the offshore oil and gas industry, has selected the Icertis Contract Management (ICM) platform to replace their manual contract management processes in Ghana with an enterprise-wide solution.”
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May 22, 2018
“Icertis has announced two new applications powered by Artificial Intelligence for the Icertis Contract Management (ICM) platform: ICM DigitizeAI and ICM DiscoverAI. The new applications leverage the Microsoft AI services from the Azure platform to leverage the data found in contracts.
ICM DigitizeAI imports legacy contracts and maps attributes and clauses contained therein. This allows better analysis of contracts, mapping similarities and identifying variations between clauses.
ICM DiscoverAI analyses the data collected and matches clauses and attributes found in every clause to common clause libraries. It enables business to identify non-standard and key contract clauses during the contract review process.”
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April 30, 2018
“The ICM GDPR Compliance App automatically identifies contracts that are not GDPR compliant, creates the appropriate Data Protection Addendums and routes them for approval.
It also assesses whether new contract drafts fall under the regulation before inserting the appropriate data privacy terms and clauses, monitors contractual commitments and tracks data processor obligations.”
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April 17, 2018
“Whether through custom configuration solutions like PROS Configure Price Quote (CPQ), or streamlined contract management through Icertis Contract Management, these opportunities enable businesses to get the most from their IoT investment and customer interactions.”
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February 27, 2018
“Tech company Icertis, which recently closed on a $50 million round of venture capital, plans to open an office in the Minneapolis-St. Paul area. The Bellevue-based startup wants to be closer to clients, including manufacturing giant 3M Co.”
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February 15, 2018
“Icertis, the Seattle, Washington-based provider of contract management solutions in the cloud, received $50 million in Series D funding from Meritech Capital Partners, as well as PSP Growth and Cross Creek Advisors. The latest investment brings their total investment to $96 million. With its Series D Funding, Icertis plans to invest in integrating AI capabilities within its Icertis Contact Management (ICM) platform’s risk management, compliance, and revenue optimization tools in order to enable end users to become more agile, proactive vis-a-vis contract and supplier risks.”
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February 8, 2018
“Samir Bodas, co-founder and CEO of Bellevue-based Icertis, thinks the contract-lifecycle management industry his company serves could become as large as the customer-relationship management industry that propelled Marc Benioff into the Salesforce Tower. He just raised $50 million in additional funding to prove that theory.”
– Tom Krazit, GeekWire
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December 20, 2017
“Business travel payments provider Lufthansa Airplus announced Wednesday it had selected Icertis to manage the contracting foundation of its global sales operation, according to a press release. ‘The Icertis Contract Management platform will accelerate a process that used to take weeks thereby improving revenue recognition, gaining efficiency and delighting our customers,” said Spencer Hanlon, chief operating officer at AirPlus International. “The ICM platform equips our team with an intelligent, enterprise-wide solution that allows us to optimize our commercial relationships and speed time to revenue.”
– Nick Heinzmann, Spend Matters
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February 8, 2018
“Bellevue software company Icertis has pulled in $50 million from investors and added a board member who previously invested in Facebook and Salesforce. The latest financing round brings Icertis’ total funding to $96 million since it was founded in 2009. Icertis develops cloud-based software that helps companies manage contracts — letting them create, sign and validate contracts with suppliers, from large vendors to caterers.”
– Rachel Lerman, Seattle Times
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February 8, 2018
“Cloud-based enterprise technology startup Icertis has mopped up $50 million (about Rs 321 crore) in its fourth round of fund raising, as the Seattle and Pune-based contract management software provider looks to expand its presence across the globe and delve further into artificial intelligence.
The latest round has been led by Meritech Capital Partners, the growth-stage investment firm that has also backed social media and technology giant Facebook and software powerhouse Salesforce, among others, with PSP Capital Partners and Cross Creek Advisors also participating.”
– Biswarup Gooptu, Economic Times
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December 27, 2017
“Icertis, the provider of enterprise contract management in the cloud, has announced that Lufthansa AirPlus, a provider of payment solutions for the day-to-day management of business travel, has selected the Icertis Contract Management (ICM) platform to serve as the contracting foundation for AirPlus´ digital transformation of its global sales operations. Because contracts are foundational to commerce, the ICM platform is a core element of AirPlus´ effort to transform its lead-to-cash process to more aggressively compete in the rapidly moving financial services market. The ICM platform will increase contract velocity for the company´s field sales team, decrease operating costs, ensure global compliance, and speed time to revenue.”
– Gulli Arnason, Financial News
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November 17, 2017
“Icertis, provider of enterprise contract management in the cloud, has released an app that ensures contracts between data controllers and data processors meet Europe’s strict new information security guidelines. ICM GDPR Compliance app works with legacy contracts, using AI-enabled tools to identify problems with contracts and provide the appropriate Data Protection Addendum (DPAs) and routes for approval and execution. As new contracts are drafted, the app assesses if they fall under GDPR regulations, and appropriate European commission-approved data privacy terms and clauses based on predefined rules.”
– Kat Powers, CabinetM
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November 17, 2017
“There were 33 different vendors cited as those used by the 84 companies that said they do have a contract management system. Six vendors account for 58 per cent of the market share among respondents with a contract management system. In the top five were Apttus, Ariba, a custom or homegrown system, SpringCM and Icertis with Salesforce in sixth spot.”
– Jennifer Brown, Canadian Lawyer
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November 13, 2017
“Icertis is a contract management software designed to make project management an automated process. Companies operating on a contractual basis with their clients have thousands of moving parts. With some contracts spanning an entire year, managing and fulfilling all obligations is a huge task. Icertis automates that all by tracking crucial elements of the contract and syncing it with project management information. Instead of scanning through page after page of data, it’s all itemized with Icertis’ platform.”
– James Paine, Inc.
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October 30, 2017
“Spend Matters tracks CLM solution providers today — primarily from the “buy side” (i.e., procurement and supply chain), but also select best-of-breed enterprise CLM providers that can meet complex buy-side needs and broader enterprise requirements. This inaugural solution analysis features many of the largest providers, including source-to-pay application suite vendors BravoSolution, Determine, GEP, Ivalua, Jaggaer, SAP Ariba, and Zycus — as well as two best-of-breed CLM leaders, Exari and Icertis. This report provides details on the key CLM requirements and buying considerations for this critical area.”
– Analyst Team, Spend Matters
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October 26, 2017
“Icertis, a Bellevue, Wash.-based startup that offers cloud-based contract management services, announced the addition of former Microsoft group health leader Tami Lamp, who will serve as the company’s Chief People Officer. Lamp spent over nine years in Microsoft’s HR leadership and also most recently served as the EVP of human resources at Group Health.”
– Clare McGrane, GeekWire
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October 5, 2017
“We recently participated in a webinar with Icertis, the contract life-cycle management (CLM) cloud solution provider. It was titled “Accelerating Time to Value with Icertis Contract Management”, but really it provided an overview of CLM thinking, the latest technology developments and the benefits that can be obtained through a structured approach to CLM. If you missed it live, you can catch the webinar now on demand here.”
– Peter Smith, Spend Matters
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September 18, 2017
“Icertis announced that global automotive and vehicle manufacturer Daimler AG recently went live with the Cloud-based application in what is described as record- time. We were informed that this deployment was characterized as 80 percent faster than Daimler’s historic software installations. A legacy Lotus Notes software technology supported the former contract management processes. The new Icertis-based application leverages the Microsoft Azure Cloud platform and integrates to the auto manufacturer’s other backbone customer support systems. The new application also leverages cognitive analytics to speed the migration of contracts.”
– Bob Ferrari, Supply Chain Matters
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September 6, 2017
“As the manufacturing sector undergoes digital transformation, poorly integrated ERP systems will soon be a thing of past, driving ERP vendors to reinvent…Nagi Prabhu, chief product officer at Icertis, a provider of contract management software in Bellevue, Wash., said that to determine if ERP systems are meeting the digital transformation needs of manufacturers, it’s important to first figure out why digital manufacturing is happening in the first place.”
– Linda Rosencrance, SearchERP
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September 5, 2017
“What are you doing next Wednesday (13th September)? Well, if you have any interest in contract management, you might like to spend the first hour of your working day from 9 am to 10 am (for UK readers anyway) taking part in a webinar with Icertis and Spend Matters. It is titled “Accelerating Time to Value”, and will look at how organisations can get real benefits – and quickly – from contract management technology solutions.”
– Peter Smith, Spend Matters
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August 4, 2017
“New revenue recognition rules issued by the Financial Accounting Standards Board (FASB) in Revenue from Contracts with Customers (ASC 606) are scheduled to take effect over the next two years. But with just a few months to go until public companies are required to make the switch, the majority are dragging their feet. The 2016 PwC Revenue Recognition Survey revealed just how unprepared some businesses are.”
– Samir Bodas (Icertis), Today’s General Counsel
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July 26, 2017
“According to the company, global healthcare leaders including Abbvie, Roche, and BD are also using its Contract Management (ICM) platform to help consolidate and manage contract lifecycles. ‘Icertis’ pharmaceutical customers are using the ICM platform to accelerate contracting velocity, increase visibility through a single, easy-to-use enterprise wide contracting system and ensure compliance,’ said Prabhu.” – Melissa Fassbender, Outsourcing-Pharma
July 4, 2017
“We are half-way through 2017 and it’s time to take stock of the hottest startups so far this year. For that we turned to Pitchbook, the website that tracks financial investments. Pitchbook sifted through its vast database to uncover the 383 startups that received funding so far in 2017 and that sell products or services to businesses, aka enterprise startups…No. 18: Icertis, 2.88X more valuable.” – Julie Bort, Business Insider
May 24, 2017
“Call it the app phenomenon. Much like our personal relationship with the Internet is driven by specific applications on our mobile devices and our desktops, the trend in the digital procurement arena is for very specific software applications that either supplement, or replace, complex ERP systems. Rapidly changing technologies, coupled with an evolution in digital procurement, forces procurement organizations to stay on the cutting edge of available technologies that help them do their jobs.” – Rich Weissman, SupplyChainDIVE
May 22, 2017
“Compliance will mean more than simply implementing new software. It will also require you to, “Inventory all contracts for revenue recognition requirements, match the revenue with expenses for the cost of goods sold, identify elements of contracts that will matter to this, and analyze obligations for performance,” according to Dan Kaltenbach, CFO of Icertis a company that specializes in automating the contracts effort. That’s the short version, too. – Denis Pombriant, Diginomica
May 16, 2017
“Technology outsourcing company Wipro has selected the Icertis Contract Management (ICM) platform to ensure uniformity across buy and sell-side agreements and manage contract risk. Icertis, a provider of enterprise contract management in the cloud, said Wipro will gain from main features such as intuitive user interface, strong system performance, scale to support contracting around the globe.”
– InfoTechLead
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May 8, 2017
“Cloud-based contract management firm Icertis plans to strengthen its presence in Europe this year, followed by the Asia-Pacific region in 2018. The Seattle-headquartered firm, which recently raised Series C funding of $25 million led by Capital B Group, has set up an office in Stuttgart and will add offices in Frankfurt, Paris, Stockholm and London over the course of the year.”
– Priyanka Sangani, Economic Times
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April 6, 2017
“Cloud-based enterprise software firm Icertis raised $25 million (Rs 175 crore) in Series C funding led by B Capital Group, the company said in a media statement. Existing investors Ignition Partners, Greycroft, e.ventures and Eight Roads Ventures also participated in this round, the statement added. The company will use the funds to accelerate R&D investment and is looking to double its workforce in its offices in Seattle, San Jose, Pune and Stuttgart.”
– Nishant Sharma, Bloomberg Quint
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April 3, 2017
“Icertis, a provider of enterprise contract management in the cloud, has announced $25 million in Series C funding, bringing Icertis’ total funding to $46 million. Taking a holistic approach, Icertis helps global Fortune 500 enterprises mitigate compliance risks due to improper contract management – an issue that, the company contends, will only grow for global enterprises as scrutiny of contractual relationships with international customers, employees, suppliers, and partners increases.”
– Joyce Wells, KM World
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March 29, 2017
“Bellevue cloud software company Icertis has raised $25 million from investors, less than a year after the firm pulled in $15 million in funding. Icertis makes software that helps companies track contracts across all departments, whether they are deals with large vendors or for office supplies. The company, led by Microsoft veteran Samir Bodas, plans to double its workforce this year, growing from 300 to at least 600 people.”
– Rachel Lerman, The Seattle Times
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March 30, 2017
“Startups the likes of Icertis have been progressively using machine learning and artificial intelligence to advance [contract management, compliance and regulation] to a new level. Icertis has been using chat bots and automated alerts to help manage vast swaths of contracts.”
– Olga Razumovskaya, The Wall Street Journal
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March 27, 2017
“Icertis had upgraded its Clinical Trial Agreement and Budgeting solution – which the company says can reduce contract cycle times by up to 80%. Nagi Prabhu, Chief Product Officer at Icertis, told us the upgrade to the Icertis Clinical Trial Agreement and Budgeting solution consolidates the contract lifecycle workflow and enables tracking of trials and visibility into their financial performance. The upgrade also includes multi-lingual trial agreement clause language and templates to support global operations.”
– Melissa Fassbender, Outsourcing-Pharma.com
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March 23, 2017
“Clinical trials are a massive, often global undertaking that can suck up years and tens of millions of dollars. The good news? There are plenty of areas for improvement and streamlining… Enterprise contract management involves streamlining and systematizing the different contracts and related documentation required for a clinical trial (or any other large-scale project for that matter). Icertis manages this through a single platform with an emphasis on “contract intelligence.” In other words, the user can access and analyze the documents at any point for risk reports, obligation tracking and more. The information becomes a tool, not a dead-end filing cabinet. The platform is well-suited to working at scale, having won over the likes of Roche, Becton Dickinson and AbbVie, along with dedicated CROs.”
– Juliet Preston, MedCity News
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February 22, 2017
“Icertis, Yellow Messenger, Vymo, OYO Rooms, Enlightiks, Tarnea, Precimetrix and others are on the long-list of 2,000 plus startups that have adopted Microsoft cloud and infrastructure services in past 12 months… Icertis, one of the largest ISVs on Microsoft Azure cloud in India has expanded its SaaS platform using Microsoft’s India datacentres. It has over 750,000 users and manages more than 2.5 million contracts across 90 countries in 40 languages on the Icertis Contract Management (ICM) platform, which also includes top companies like Cognizant, Airtel, MindTree, Genpact and Lupin.”
– Pankaj Maru, Economic Times CIO.com
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January 24, 2017
“Daimler AG has selected the Icertis Contract Management (ICM) platform built on Microsoft Azure as the platform of choice to launch the redesign of its worldwide procurement. Icertis provides enterprise contract lifecycle management in the cloud. In the rapidly changing world of auto manufacturing, procurement teams are at the forefront of transforming their supply chains. To meet this challenge, Daimler is overhauling the procurement process for its 400,000 suppliers.”
– InfoTechLead
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January 8, 2017
“…the basics of AI and its relevance to Contract Lifecycle Management (CLM) so that practitioners can derive greater commercial intelligence from their contracts and set themselves up for the coming innovation in this exploding area…”
- Part 1: Considerations for Practitioners
- Part 2: Knowledge Representation
– Pierre Mitchell, Spend Matters
December 27, 2016
For Nagi Prabhu, chief product officer at Icertis, a provider of contract management software based in Bellevue, Wash., a procure-to-pay system is only as good as the contracting system that is associated with it.
“If the contract solution is not robust enough, the procure-to-pay solution just becomes a process organizer and doesn’t really provide a lot of benefits,” he said.
– Linda Rosencrance, TechTarget Search Financial Applications
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November 30, 2016
At the Icertis customer advisory board meeting, we dug into when companies hit the “breaking point” that caused them to adopt a CLM solution.
“… the primary reason companies decide to look into CLM solutions is the same reason they typically take an interest in risk management technologies: they get burned. Most organizations don’t take action until they’re hit by an event, whether that’s a tsunami or a a broken contract.”
“Today’s off-the-shelf nature of delivery and immediate ROI is going to become too obvious to ignore. Also: dashboards and diagnostics tying to dollars, where you can actually show senior management how much is at risk based on specific data.”
– Sheena Smith, Spend Matters
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