Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), was named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Buy-Side Contract Life-Cycle Management Applications 2023 Vendor Assessment. The IDC MarketScape named Icertis a Leader based on its strategies and capabilities.
“Icertis was early to adopt and infuse AI capabilities in its platform and is viewed as an industry trendsetter with respect to advanced-level discovery and data mining capabilities,” said Patrick Reymann, Research Director, Procurement and Enterprise Applications, IDC. “We positioned Icertis as a Leader because they are taking contract management beyond efficiency and visibility to reimagine the impact of every commercial transaction, enabling customers to tap into contract data as one of the largest strategic resources of value for their business.”
“Enterprise leaders are challenged to identify savings while ensuring supply chain continuity and managing risk in today’s market. Digitally transforming contracts enables procurement teams to drive these strategic priorities and realize process efficiencies,” said Monish Darda, Chief Technology Officer and Co-founder at Icertis. “Applying purpose-built AI to structured and unstructured contract data unlocks unique insights to ensure the intent of every business relationship is fully realized, helping procurement decision-makers avoid revenue leakage and better control spending, even amidst concerns like inflation and price shocks that are driven by today’s macro environment.”
Icertis is widely recognized as a leader in CLM by the foremost analyst firms and was previously named a Leader in the IDC MarketScape: Worldwide Contract Life-Cycle Management Software for Corporate Legal 2021 Vendor Assessment (doc #US46965921, November 2021). Icertis is also noted as one of the Fastest Growing Companies in the Americas by the Financial Times and one of the world’s top private cloud companies on the Forbes Cloud 100 list, the statement said.
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