Icertis Named a Leader in 2024 Gartner® Magic Quadrant™ for Contract Life Cycle Management

Barchart · 10/15 10:20

Icertis, the global leader in AI-powered contract intelligence, today announced that it has been named a Leader in the 2024 Gartner Magic Quadrant for Contract Life Cycle Management (CLM)1. Gartner analysts identified Icertis as a Leader for the fifth consecutive year, recognizing the company for its Completeness of Vision and Ability to Execute among 17 CLM vendors.

Icertis believes the Gartner Magic Quadrant follows a landmark season of GenAI innovation, growth, and partner ecosystem expansion designed to deliver material value for customers. Enterprises across 90 countries, including more than 30 percent of the Fortune 100, continue to achieve contract intelligence with Icertis as a critical pillar of their long-term digital transformation strategies to drive profitability and impact the bottom line, while improving compliance and reducing risk.

“Gartner has consistently positioned Icertis furthest to the right on the Completeness of Vision axis in this report. We believe this is a testament to our bold approach of powering business processes with contract intelligence and enabling customers to realize the full potential of every business relationship,” said Monish Darda, CTO and Co-founder, Icertis. “By combining the ability to execute with a platform approach to GenAI, we are transforming the role of contracts to deliver a tangible use case that unlocks significant value across the enterprise through AI-driven insights. This transformation not only enhances core business outcomes around revenue, cost savings, risk management, and compliance, but also redefines the strategic importance of contracts in today’s economic environment.”

Contracts form the foundation of commerce and act as the single source of truth for the relationships an enterprise has with its suppliers, partners, and customers. By connecting millions of contracts and integrating their data into core operations, Icertis creates AI-powered insights that inform better decision making and speed the pace of business.

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. They have customers in many geographic regions, cover a wide variety of industries and serve customer organizations of a range of sizes. Leaders are often the vendors that other providers measure themselves against.

In addition to its position as a Leader in the Gartner Magic Quadrant, Icertis is also recognized by Gartner as a Customers’ Choice Vendor in the 2024 Gartner Peer Insights™ Voice of the Customer for Contract Life Cycle Management Report, among the Forbes Cloud 100, and as one of the Financial Times’ Fastest Growing Companies in the Americas.

[1] Gartner Magic Quadrant for Contract Life Cycle Management, 14 October 2024, by Kaitlynn Sommers, Kerrie McDonald, Lynne Phelan.

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About Icertis

Icertis is the global leader in AI-powered contract intelligence. The Icertis platform revolutionizes contract management, equipping customers with powerful insights and automation to grow revenue, control costs, mitigate risk, and ensure compliance - the pillars of business success. Today, 33% of the Fortune 100 trust Icertis to realize the full intent of millions of commercial agreements in 90+ countries.