Annual Awards Program Recognizes Icertis for Delivering Strategic Outcomes to the Legal Industry
Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), announced it has received the “Contract Management Innovation of the Year” award in the third annual LegalTech Breakthrough Awards program, further strengthening Icertis’ market leadership. LegalTech Breakthrough, a leading independent market intelligence organization, conducts the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions, and products in the legal technology industry. This year’s program attracted more than 1,450 nominations from over 12 countries worldwide.
The Icertis Contract Intelligence (ICI) platform was recognized for its ability to mitigate risk and support data-driven decisions for legal teams by extracting critical structured and unstructured data within contracts, connecting the data to key systems of record, and harnessing AI’s power to ensure every contract’s intent is fully realized. Icertis’ AI-powered technology also enables legal departments to automate and streamline contract processes and closely align with sales, financial, and procurement leaders for greater visibility into contracts across the enterprise.
“As legal departments strive to do more with less, there is ever-increasing pressure on leaders to advance digital transformation to better manage work and contract flow,” said Bryan Vaughn, Managing Director of LegalTech Breakthrough Awards. “The Icertis platform is a breakthrough in contract management and legal technology because its AI-powered solution unlocks the power of contract data to help legal move faster, smarter, and more efficiently.”
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Contracts are the foundation of commerce, defining the obligations and entitlements between vendors, customers, and employees. ICI is built for every type of contract, allowing legal teams to deploy templates organization-wide for greater consistency while also automating workflow functionality to promote efficiency and transparency across jurisdictions, geographies, and the most complex client accounts. With contract intelligence, legal decision-makers can address complex challenges for their business, leveraging data and AI to inform future strategies that drive revenue while reducing costs.
“Today’s increased business complexity and demand for economic efficiencies put unprecedented pressure on corporate legal teams. Negotiating contracts is an art, but the science of contract management can enable legal departments to service contracting with flat or reduced resources and to safely permit the end client to self-service appropriate tasks. ICI-enabled self-serve guided contract generation and negotiations, drop-down fallback clauses, and conversion of contract data into a shared knowledge base enables an efficient, safe, and collaborative contract lifecycle,” said Samir Bodas, Chairman and CEO of Icertis. “Receiving this recognition from LegalTech Breakthrough is a testament to the business value that Icertis provides legal departments as they look to ensure the intent of every contract is correctly memorialized and fully realized.”
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Icertis was the first company to grasp the true potential of contract lifecycle management (CLM) and has boldly pursued the vision of organization-wide contract intelligence for over a decade. The company has continued to build momentum as market-leading brands across 19 countries and numerous industries choose to build trust, strengthen bonds, and create a better world with Icertis.