Tag: Samir Bodas

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The Financial Times Names Icertis one of the Fastest Growing Companies in the Americas

April 4, 2023 Published by

 

Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), today announced its recognition on the 2023 Americas’ Fastest Growing Companies list by the Financial Times (FT). Based on its revenue growth rate, Icertis ranked #239 on the prestigious list of 500 companies across 20 countries in North, Central, and South America.

“Icertis surpassed $200 million in annual recurring revenue in 2022, growing at over 40% year-over-year, and we are uniquely positioned to transform the foundation of commerce through contracts as we continue to build a consequential and enduring company,” said Samir Bodas, Chairman and CEO of Icertis. “By applying artificial intelligence to contract data, Icertis has established contracts as the fifth system of record, capturing a company’s entitlements and obligations for all its customers, partners, suppliers, and employees. The Icertis Contract Intelligence platform gives finance, legal, procurement, and sales teams enterprise-wide visibility into commercial commitments, enabling optimal outcomes in a competitive, rapidly changing environment. This recognition by FT is a testament to our continued momentum as we lead the burgeoning CLM market and the skyrocketing demand for contract intelligence.”

Icertis is transforming the CLM category by applying proprietary and generative artificial intelligence (AI) to the whole lifecycle of a contract, incorporating contract data into core business processes to surface unique insights that support more informed decision-making. With robust AI models and strategic partnerships, Icertis enables companies to rapidly digitize contracts, shape the information within them into structured data, and connect that data to the surrounding ERP, SCM, CRM, and HCM systems across the business. By overlaying AI on its rich enterprise data lake of more than two billion metadata and transactional elements, Icertis creates exponential value for customers, enabling enterprises to increase revenue, reduce costs, ensure compliance, and manage risk by anchoring its operations on what matters most in every commercial relationship – the company’s contractual entitlements and obligations.

This recognition follows a multitude of analyst accolades, industry awards, and partner recognitions that exemplify growth milestones at Icertis, further showcasing the company’s continued global leadership in the CLM market. Most recently, Icertis:

Icertis was the first company to grasp the true potential of CLM and has boldly pursued the vision of enterprise-wide contract intelligence for over a decade. The company continues to build momentum as global enterprises, and the most disruptive innovators, choose to turn their commercial agreements into strategic advantage.

Now in its fourth edition, the Americas’ Fastest Growing Companies list is presented by FT and Statista Inc., a world-leading statistics portal and industry ranking provider. Rankings are based on the compound annual growth rate (CAGR) in revenue between 2018 and 2021 submitted by over 7,000 companies.

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Icertis Recognized as the Winner of 2021 Microsoft AI Partner of the Year

July 15, 2021 Published by

 

Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), announced today that it has won the Artificial Intelligence (AI) 2021 Microsoft Partner of the Year Award and been named a Finalist of the Global ISV Microsoft Partner of the Year Award for the fourth year in a row. Icertis was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.

“We are elated to be recognized with the top honor for AI innovations by the most-respected software company in the world. No Microsoft partner in the contract management space has been named a finalist or winner in this category—until today,” said Samir Bodas, CEO and Co-founder of Icertis. “In a world of endless data, contract data reigns supreme. Contracts are the foundation of all commerce, and the Icertis Contract Intelligence (ICI) platform sets the standard for AI use in discovering, visualizing, and optimizing this critical resource across enterprises and ecosystems.”

The Microsoft Partner of the Year Awards recognize partners that have developed and delivered outstanding Microsoft-based solutions during the past year. Awards were classified in various categories, with honorees chosen from among 4,400 submissions across more than 100 countries worldwide. Icertis’ decade-long and growing Microsoft relationship, was recognized in two award categories this year:

1.  AI Partner of the Year: This award recognized the top Microsoft partner that designed, developed, and deployed high- value, customer-centric AI Solutions using Azure AI. Icertis AI applications apply machine learning to build predictive models that optimize contracting processes and uncover contracting insights that are critical in strategic decision making. The models are trained on the more than 10,000,000 contracts Icertis manages for its customers worldwide.

A recent McKinsey survey on “The State of AI in 2020” found that 50% of respondents have implemented AI in at least one business function and some leading adopters of these technologies attribute 20% or more of their organizations’ earnings before interest and taxes (EBIT) to AI. Icertis’ high-value AI applications enable companies to address previously intractable contract challenges, including digitizing legacy contracts at scale and analyzing contract terms to improve sales negotiations and gain intelligent insights about terms, obligations, and risks. Notable examples of customers that are benefiting from the Microsoft and Icertis partnership and solutions in AI include:

  • HERE Technologies – “The Icertis DiscoverAI app rapidly digitized and analyzed more than 70,000 legacy HERE and third-party contracts, allowing us to unlock critical contractual terms to improve our business.” — Simon Anolick, Director Legal Counsel at location data and technology platform company HERE Technologies.
  • Sanofi – “With its intuitive interface and the ability to be customized to suit an individual’s unique requirements, users have quickly adopted the new system and are now creating 400 contracts within ICI each month.” — Celine Arquizan, Head of Strategy and Development for the Contracting Center of Excellence at Sanofi.

2.  Global ISV Partner of the Year: This award recognized the top Microsoft globally managed Independent Software Vendor (ISV) that has demonstrated strong customer focus and success by partnering deeply with Microsoft on a global scale. Icertis was named a Finalist in this category for the fourth consecutive year, standing out among the more than 100,000 partners in Microsoft’s extensive ecosystem. This builds on Icertis’ previous Microsoft award recognitions, including the 2018 Microsoft US Partner of the Year Award and the 2019 Microsoft US Partner of the Year Award for Manufacturing & Resources.

The relationship that Icertis has with Microsoft empowers every organization to transform their contracts into strategic advantage by connecting them to the systems and processes they touch organization-wide. The Icertis Contract Intelligence (ICI) platform is natively-built and runs exclusively on Microsoft Azure and integrates with Microsoft products and more than 60 Azure services including Azure AI, Microsoft 365, Dynamics 365, and Microsoft Teams.

“I am honored to announce the winners and finalists of the 2021 Microsoft Partner of the Year Awards,” said Rodney Clark, corporate vice president, Global Partner Solutions, Channel Sales and Channel Chief, Microsoft. “These remarkable partners have displayed a deep commitment to building world-class solutions for customers—from cloud-to-edge—and represent some of the best and brightest our ecosystem has to offer.”

The award recognitions follow numerous CLM market leadership accolades so far this year, including being the only CLM vendor named to the Forbes AI 50 list every year since its inception, winning SAP Partner of the Year: SAP Store Category, and being named a Leader in both the 2021 Gartner Magic Quadrant for Contract Life Cycle Management (CLM), as well as The Forrester Wave™: Contract Lifecycle Management for All Contracts, Q1 2021.

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

May 24, 2021 Published by

 

Icertis, 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 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 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® Pinnacle Award: SAP® Store Partner of the Year 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 companies in response to 400% increase in demand from the segment over three years
  • $80M Series F round of funding, 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™, 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.

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