icertis Strengths, Domain Expertise, and Key Differentiators
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. The Icertis platform revolutionizes contract management, equipping customers with powerful insights and automation to grow revenue, control costs, mitigate risk, and ensure compliance - the pillars of business success. Today, 30% of the Fortune 100 trust Icertis to realize the full intent of millions of commercial agreements in 90+ countries.
icertis Recent Developments
In July 2023, Icertis launched Icertis Contract Intelligence (ICI) Copilots, the first generative AI applications for enterprise contract management. These copilots, including ICI Interactive Insights Copilot and ICI Risk Assessment Copilot, empowered executives, legal teams, and business users to leverage the transformative power of generative AI, turning commercial agreements into interactive assets for enhanced contract efficiency and insights.
icertis Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying icertis applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of icertis and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Icertis Contract Intelligence customers.
icertis Overview
14711 NE 29th Place Suite 100
Bellevue, WA, 98007, United States
1 425-869-7649
https://www.icertis.com/
Ownership: - x
Number of Employees: 2200
Functional Markets: Collaboration, Content Management, Procurement, SCM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
icertis Key Enterprise and Cloud Applications
Icertis Contract Intelligence
icertis Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
icertis Revenue Breakdown By Type, $M:
icertis Enterprise Applications Revenues By Functional Markets, $M:
icertis Enterprise Applications Revenues By Verticals, $M:
icertis Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
icertis Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
icertis Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified icertis Customers
No. of icertis Customers: x
No. of icertis Enterprise Applications Customers: x
No. of icertis Cloud Customers: x
No. of icertis Cloud Subscribers: x
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.
Icertis applies AI to 7,000+ contract types across 11 verticals, with 100,000+ contracting attributes, clauses, and obligations, effectively curating one of the largest, most advanced collections of contract data in the world. Industry leaders including Cigna, HERE Technologies, PacSun, and Sunstate Equipment use the Icertis Contract Intelligence Platform (ICI) and its AI applications to power transformation efforts, applying AI to integrated contract data to help their organizations discover new revenue and savings, improve negotiations with suppliers, and better manage risk by ensuring contracts contain critical clauses for compliance.
icertis Market Opportunities, M&A and Geo Expansions
Icertis has strategically expanded its offerings with tailored contract intelligence solutions for specific industries. Their recent announcement of Icertis Contract Intelligence for Government Contractors (ICI GovCon) on September 12, 2023, highlights their commitment to serving enterprises in the U.S. Federal Government sector. Preceding this, on October 12, 2022, Icertis launched ICI for Banking and Financial Services, followed by ICI for Healthcare Providers on March 15, 2022. These moves signify Icertis' proactive approach in addressing industry-specific needs, solidifying its position as a leader in contract lifecycle management (CLM) across various sectors. br> In October 2022, Icertis secured $150 million in funding. The investment, comprising a revolving credit facility and convertible financing from Silicon Valley Bank, positions Icertis to reinforce its leadership in the expanding CLM sector. These funds will fuel the acceleration of transformative technologies such as artificial intelligence, machine learning, and Blockchain, aimed at delivering substantial value to customers through innovative solutions.
icertis Risks and Challenges
Expanding its product portfolio across different functional markets could be a key for ongoing success.
icertis Ecosystem, Partners, Resellers and SI
The strategic alliances formed among industry leaders such as Accenture, Deloitte, KPMG, Microsoft, PwC, and SAP signify a concerted effort to leverage collective expertise and resources in addressing market challenges and opportunities. Complemented by a diverse range of service partners including Apsolut, Carahsoft, Cloudmoyo, Cognitus, Consilio, MPC Consulting, ThoughtStorm, and Wipro, these collaborations aim to deliver comprehensive solutions tailored to client needs. Furthermore, the inclusion of prominent technology partners like Adobe, Box, DocuSign, Pros, Salesforce, Whatfix, and Workday underscores a commitment to incorporating cutting-edge technologies into service offerings. In May 2023, Icertis unveiled a groundbreaking integration that merges AI-powered contract intelligence with SAP S/4HANA, enhancing the efficiency and compliance of procurement operations. The newly introduced solution, Icertis Contract Intelligence (ICI) for SAP S/4HANA (Buy Side), has been designated as a premium certified SAP Endorsed App. This collaboration marks a significant advancement on the joint product roadmap of SAP and Icertis, as both companies strive to revolutionize contract-driven processes by seamlessly integrating contract intelligence with SAP solutions.
icertis Cloud Infrastructure Insights
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- icertis Public Cloud and Infrastructure (IaaS)
- icertis Platform (PaaS)
- icertis Application Delivery
- icertis Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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