Contract Intelligence Company Recognized in Gartner Magic Quadrant for Fourth Consecutive Year
BELLEVUE, Wash., Oct. 25, 2023 - Icertis announced today that it has been named a Leader in the 2023 Gartner Magic Quadrant for Contract Life Cycle Management (CLM)1. Gartner analysts identified the contract intelligence vendor as a Leader among 16 CLM vendors, positioning Icertis furthest right on the Completeness of Vision axis for the fourth consecutive year.
Gartner evaluates a vendor's ability to "grasp current and future market and technology trends, customer needs, and competitive forces — their Completeness of Vision. Ultimately, vendors are assessed on their understanding of how market forces can be exploited to create opportunities for growth. This is a qualitative assessment based on Gartner's interactions with end users and consequent understanding of the market." Icertis attributes its position on this axis to a rich history of AI innovation, industry-specific solutions that address the complex contracting needs of customers, and an expansive partner ecosystem that reinforces strategic outcomes by integrating contract data into core systems across the business.
Icertis harnesses the power of AI to help the world's largest enterprises realize unmatched value from their commercial relationships, reimagining the role of contracts in automating operations, accelerating digital transformation, and driving strategic decision-making around revenue, savings, and risk. Global leaders such as Accenture, Best Buy, Humana, Johnson & Johnson, Mercedes-Benz, and Microsoft – and 30 percent of the Fortune 100 – trust Icertis to deliver the speed and scale they need to manage complex contract portfolios.
"Our vision at Icertis to transform the foundation of commerce through contract intelligence continues to resonate with business leaders that are seeking strategic advantage and new opportunities to capture value in today's market," said Monish Darda, Chief Technology Officer and Co-founder at Icertis. "Icertis delivers the only enterprise-grade CLM platform that's equipped with generative AI Copilots and the security businesses need to trust their data is being used responsibly. That's why we continue to set the tone for the future of contracting and the role that commercial agreements play as one of the most advantageous assets in the enterprise."
Icertis believes the Gartner Magic Quadrant follows a landmark year of innovation, including milestones such as:
Delivering the market's first generative AI Copilots for enterprise contract management with Icertis Contract Intelligence (ICI) Copilots. Built on Icertis ExploreAI™ Service and backed by the security of Microsoft Azure, ICI Copilots turn commercial agreements into interactive assets that increase the speed and effectiveness of negotiations and accelerate high-volume contract reviews while minimizing risk and noncompliance.
Continuing to execute on its joint product roadmap with SAP by integrating ICI into SAP S/4HANA®. Available as a premium certified SAP Endorsed App, ICI for SAP S/4HANA enables more profitable and compliant procurement operations by empowering teams to streamline sourcing, negotiate better commercial terms, and improve adherence to regulatory and corporate policies.
Expanding its list of transformative vertical solutions to address contracting needs across key sectors with the launch of ICI for Government Contractors. Equipped with industry-specific AI capabilities, ICI for Government Contractors is designed to help businesses increase win rates, optimize contracts, and improve compliance with critical federal regulations.
In addition to its position as a Leader in the Gartner Magic Quadrant, Icertis is also recognized as one of the fastest growing companies in the Americas by the Financial Times, a top private cloud company according to the Forbes Cloud 100, and the 2023 Gold Stevie® Award winner for Technology Innovation in the International Business Awards.
Read a full copy of the 2023 Gartner Magic Quadrant for CLM here: www.icertis.com/gartner
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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 ten million+ contracts worth more than $1 trillion in 40+ languages and 90+ countries.
Media Contact
Michelle Rodriguez
Senior Manager, Corporate Communications
corpcomm@icertis.com
Gartner Magic Quadrant for Contract Lifecycle Management, 25 October 2023, by Kaitlynn Sommers, Lynne Phelan, Kerrie McDonald.
SOURCE Icertis
