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Icertis: Vendor Analysis, 2020 Update (Part 3) — Competitors and CLM Market Analysis

09/10/2020 By

The third and final installment of this Spend Matters Vendor Analysis provides a look at Icertis’s competitors and a market analysis of vendors in contract lifecycle management (CLM).

As contract management has become a hot topic in the B2B tech sphere, competition between CLM vendors has increased. Customers are looking for an expanding list of capabilities from their CLM solutions, to include not only core clause library and repository support but also automated contract data extraction and ongoing compliance management tools. 

Icertis has maintained a top spot in the contract management market due to its deep support for both the essentials and its continuing expansion of what a CLM platform can do. Organizations evaluating potential vendors will find that Icertis is a strong fit for many cross-enterprise use cases and that the firm does not shy away from complexity where alternatives might falter. At the same time, several CLM vendors are beginning to compete with Icertis on its key vulnerabilities, and a surge of investment in contract analytics, either via acquisition or native development, has kicked off an AI arms race with multiple fronts. 

Part 3 also includes an objective SWOT analysis of the provider, tech selection tips and a summary analysis. Part 1 provided an in-depth look at Icertis as a technology provider and its specific solutions, and Part 2 gave a detailed analysis of Icertis's solution strengths and weaknesses and a review of the product’s user experience.

Now, let’s take a deeper look at the company and Icertis’s competitors.

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Vendor Analysis