Icertis, the contract intelligence company pushing the boundaries of what’s possible with Contract Lifecycle Management (CLM), has been named a Value Leader by Spend Matters in its Fall 2022 SolutionMap for CLM. Icertis earned a top position as one of the most suitable vendors for medium and large enterprises, receiving strong ratings from analysts for integration functionality, analytics, user experience, and services.
The Spend Matters SolutionMap is one of the industry’s most rigorous data-driven assessments of procurement technology functionality, provided by a leading source of solution intelligence for the global procurement, finance, and supply chain technology ecosystem. Spend Matters has recognized Icertis as a Value Leader in the CLM SolutionMap for four consecutive years, calling its capabilities in security, data management, reporting, and automation the best in the market.
“Icertis maintained its pole position in the CLM space on its own, but in 2022 it made a strategic move that put it on a completely different strategic path: acquiring a minority stake in SAP. Icertis is increasingly positioning itself as a single enterprise platform for unifying agreements, similar to our Commercial Value Management (CVM) framework,” said Nick Heinzmann, vice president of research at Spend Matters.
Setting a new standard for CLM, Icertis is pioneering contract intelligence, connecting contract data across the enterprise and using artificial intelligence to ensure the intent of every business relationship is correctly captured and fully executed. Icertis provides enterprise-wide visibility into contract data with the scale to manage complex contract portfolios, enabling new insights into every transaction to support efficiencies and more strategic decision-making for finance, legal, and procurement teams.
“Industry experts like Spend Matters recognize the critical role that contracts play in digital transformation strategies and predict that the pace of innovation will only accelerate as vendors seek to meet evolving business needs,” said Niranjan Umarane, executive vice president of Product Management at Icertis. “That’s why we continue to take a long-term mindset in the capabilities we provide to our customers through the Icertis Contract Intelligence platform, helping them harness the power of data and AI to ensure each contract’s intent is accurately captured and fully implemented, and to transform the way contracts impact critical outcomes related to revenue, risk, and compliance.”
Icertis was recently selected as a Spend Matters “50 to Know” organization, recognizing the company as one of the 50 technology providers that deliver enterprise-level solutions to drive better procurement outcomes. Icertis was also recognized as a Leader in the 2022 Gartner Magic Quadrant for CLM, recognized as a 2022 Microsoft Partner of the Year, and recognized as a winner at the 2022 International Business Awards.
