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Icertis: Vendor Analysis, 2020 Update (Part 1) — Background and Solution Overview [PRO]

contract

This three-part Spend Matters PRO Vendor Analysis provides an update to our previous review of Icertis, adding new assessments of core capabilities and introducing new functionality in the Icertis Contract Intelligence platform that’s relevant to buy-side and enterprise CLM use cases.

The technology providers that define the contract lifecycle management (CLM) space are the ones that have continuously pushed the boundaries of what such solutions can do. No longer simply concerned with document storage, search and standardization, leading CLM systems have evolved their focuses to include capabilities such as granular obligation modeling, performance management and AI-assisted process automation.

Icertis, one of the top-performing CLM providers in Spend Matters’ CLM SolutionMap since our vendor rankings began, is at the forefront of this development.

The vendor has for several years demonstrated deep support for advanced CLM use cases, from obligation management to multi-tier subcontracting support, many of which have set the functional bar within our SolutionMap evaluation process.

And in the two years since we published our last Vendor Analysis on Icertis, the product’s innovation vision has only continued to grow. Most notably, Icertis has released several AI applications designed to bridge the gap between the contract analytics space and traditional CLM, as well as a set of unique business applications that overlay distinct business processes on top of the contract-based platform, including an RFX application that enables contract-centric sourcing.

Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Icertis. The remainder of this multipart research brief covers product strengths and weaknesses; competitors and a market analysis; a SWOT analysis and tech selection tips.

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