Icertis, a provider of enterprise contract management in the cloud, has announced it has been named a Leader in the 2020 Gartner Magic Quadrant for Contract Life Cycle Management (CLM) for its ability to execute and completeness of vision. The Icertis Contract Management (ICM) platform manages the “world’s largest portfolio” of contracts with a total contracted value of over $1 trillion.
This is Gartner’s first Magic Quadrant report for the CLM market. “Historically, the CLM vendor market has been highly fragmented, with vendors narrowly focused on specific groups of stakeholders (e.g. legal, procurement or sales), making it difficult to evaluate them side by side,” said Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa and Micky Keck, analysts at Gartner, adding, “That has begun to change, as vendors evolve into enterprise-level solutions that can be used across all contract types. Customers expect that the capabilities of any leading CLM solution, regardless of its target audience, should excel at all stages of the contract life cycle.”
“We are delighted to be recognised by Gartner as a Leader in the CLM market. This recognition reinforces our long-standing and enduring leadership in this transformational $20 billion category,” said Samir Bodas, CEO, and Co-founder, Icertis, adding, “Icertis’ passion for delivering value and unrivaled vision helps customers optimize their commercial relationships through the entire lifecycle of every contract in the enterprise. We are proud to be at the forefront of transforming contracting – the foundation of commerce.”
“Icertis was the first company to recognize the value businesses could realize from managing all their contracts globally on a single platform in the cloud,” said Monish Darda, CTO, and Co-founder, Icertis, adding, “Using artificial intelligence, machine learning, and other proprietary technologies, we then converted these static contracts to live assets. And finally, by connecting the ICM platform to transactional, customer, employee and supplier data, companies can now optimise all their relationships, and every dollar coming into and every dollar going out of the enterprise.”