Icertis Again Named a Leader in Gartner Magic Quadrant for Contract Life Cycle Management

AsiaNet 89638

 

BELLEVUE, Wash., May 24, 2021 /PRNewswire=KYODO JBN/ --

 

     -  For the second consecutive year, Icertis was named a Leader in the

Gartner Magic Quadrant for Contract Life Cycle Management for its ability to

execute and completeness of vision

 

    - Icertis is positioned furthest right on the Completeness of Vision axis

and higher than its already-strong 2020 position on the Ability to Execute axis

 

    - CLM is one of the fastest-growing enterprise software categories and is

increasingly recognized as a universal, critical asset for businesses of all

sizes across industries

 

    Icertis [https://www.icertis.com/contract-management/platform/], the

contract intelligence company that pushes the boundaries of what's possible

with contract lifecycle management, today announced it has been named a Leader

in the 2021 Gartner Magic Quadrant for Contract Life Cycle Management (CLM) for

its ability to execute and completeness of vision. Gartner analysts considered

15 CLM vendors, across 15 criteria, to determine the placement of each vendor.

 

    This is the second year in a row that Icertis has been named a Leader in

the Gartner Magic Quadrant, which Icertis attributes to the bold vision,

unrivaled expertise, and enduring commitment it brings to the CLM category. In

addition to being named a Leader, Icertis placed furthest right for its

Completeness of Vision and advanced even higher for its Ability to Execute.

Gartner defines completeness of vision as: "Vendors' ability to grasp current

and future market and technology trends, customer needs and competitive forces."

 

    Icertis was the first company to grasp the true transformative potential of

CLM and has boldly pursued the vision of organization-wide contract

intelligence for more than a decade. Hundreds of the world's most iconic brands

[https://www.icertis.com/contract-management/customers/] and disruptive

innovators, including Apple, BASF, Daimler, Gateway Health, Google, Herman

Miller, Merck, Microsoft, and Sanofi, trust Icertis' unrivaled expertise and

enduring commitment to fully realize the intent of their combined 10 million+

contracts.

 

    Built to work seamlessly with most major ERP, CRM, and procurement systems,

the Icertis Contract Intelligence (ICI) platform

[https://www.icertis.com/contract-management/platform/] turns contracts from

static documents into strategic advantage by structuring and connecting the

critical contract information that defines how an organization runs,

streamlining contracts and processes, reducing risk, and accelerating business.

Icertis brings a new level of intelligence and transparency to CLM through its

AI and Blockchain innovations, which empower businesses worldwide to ensure

accuracy and compliance across the entire contract lifecycle.

 

    "Just like every serious company needs CRM to manage its customers and SRM

to manage its suppliers, every serious company needs CLM to manage its

contracts," said Samir Bodas, CEO and Co-founder, Icertis. "Icertis is the

vendor of choice for organizations looking for the CLM partner with the

clearest vision for the future and the proven ability to execute and take them

there. With ICI, companies can easily digitize their contracting processes

across the enterprise, mine the gold in their contracting data, and crucially,

ensure every entitlement is fully realized and every commitment is fully

delivered after the contract is signed."

 

    According to Gartner, "Leaders are in the strongest position to influence

the market's growth and direction. They demonstrate a market-defining vision

for how CLM technology can help companies achieve the business objectives of

managing compliance and reducing process bottlenecks. Leaders can execute

against that vision through products and services and have demonstrated

business results in the form of revenue and earnings. They excel in their

combination of market understanding, innovation, product features and

functions, and overall viability, while maintaining a well-established base of

long-term customers. Leaders show a consistent ability to win new deals with

successful implementations. They have customers in the largest number of

geographic regions and cover a wide variety of industries and sizes of

organization. Leaders are often the vendors that other vendors measure

themselves against."

 

    The analyst report comes at a time of explosive growth for Icertis and the

CLM market overall. CLM is increasingly recognized as a universal, critical

asset for businesses of all sizes. The category has ballooned to an addressable

market of over $20B*, growing at a rate of over 35% year-over-year.

 

    Icertis has achieved unprecedented momentum in the CLM market, exemplified

by a crescendo of growth milestones, top-tier awards, analyst reports, and

other highlights, including:

 

    - Icertis received the 2021 SAP(R) Pinnacle Award: SAP(R) Store Partner of

the Year

[https://www.icertis.com/news/icertis-receives-2021-sap-pinnacle-award/] from

among more than 20,000 SAP partners, demonstrating Icertis' ability to help

enterprise customers worldwide achieve their goals

    - Delivering tailored contract intelligence solutions for mid-market

[https://www.icertis.com/news/icertis-brings-contract-intelligence-to-mid-market

/] companies in response to 400% increase in demand from the segment over three

years

    - $80M Series F round of funding

[https://www.icertis.com/news/icertis-series-f/], bringing the company's total

valuation to $2.8 billion – nearly triple the valuation at its last funding

round in 2019.

    - Third consecutive year on the exclusive Forbes AI 50 list

    - Ranked 250th on Deloitte's Technology Fast 500(TM), a list of the

fastest-growing technology, media, telecommunications, life sciences, and

energy tech companies in North America.

 

    Gartner Magic Quadrant for Contract Life Cycle Management, 10 May 2021, by

Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, and Jim Murphy.

 

    Readers can access a full complimentary copy of the report here:

https://www.icertis.com/gartner-2021-leader-in-clm/

 

    *MGI Research 2019:

https://www.mgiresearch.com/research/mgi-forecasts-contract-lifecycle-management-clm-total-addressable-market-tam-forecast-2018-2022/

 

 

    Gartner Disclaimer*

 

    Gartner does not endorse any vendor, product or service depicted in its

research publications, and does not advise technology users to select only

those vendors with the highest ratings or other designation. Gartner research

publications consist of the opinions of Gartner's research organization and

should not be construed as statements of fact. Gartner disclaims all

warranties, expressed or implied, with respect to this research, including any

warranties of merchantability or fitness for a particular purpose.

 

     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 10

million+ contracts worth more than $1 trillion, in 40+ languages and 90+

countries. For more information about Icertis, visit www.icertis.com.

 

    Contact

 

    Liza Colburn  

    Director of Corporate Communications, Icertis

    CorpComm@icertis.com

 

    Logo: https://mma.prnewswire.com/media/1515204/icertis_Logo.jpg

 

    Source: Icertis