Icertis Celebrates Record Performance in 1H 2021 With 60% YoY Revenue Growth, Customer Expansions, and CLM Accolades
BELLEVUE, Wash., July 30, 2021 /PRNewswire/ -- Businesses today are measured not only by what they do, but how they do it. High expectations around sustainability, privacy, equality, supplier diversity and responsible sourcing require an unprecedented level of transparency into a company's customer and supplier relationships so it can build trust in the market. These mandates come as accelerating innovation and disruptions reward mature organizations able to respond quickly to new challenges and opportunities with strong digital processes and on-demand data. They are also driving demand for mining the data gold within contracts, leading to Contract Lifecycle Management (CLM) market leader Icertis adding a record number of new customer logos and seeing 40% of its deployed customers expand platform use in the 1H 2021.
"Innovative organizations know that contract intelligence is as critical to their business as ERP or CRM."
"Contracts define a business—what it buys, what it sells, and how it runs. Icertis structures and connects this critical business data so that our customers gain the transparency and agility needed to move faster and deliver on their commitments," explained Icertis CEO and Co-founder, Samir Bodas. "Icertis has taken the lead in the *$20.8B CLM market because innovative organizations know that contract intelligence is as critical to their business as ERP or CRM. Many of the world's most iconic brands are already using Icertis to digitize contracts, analyze risks and obligations, and fully realize the intent of every contract."
Icertis leads the booming CLM space, a sector growing *35% YoY, with future-proof artificial intelligence (AI)-driven solutions that are transforming the foundation of commerce. The company's growth milestones for January to June 2021 are highlighted by 60% YoY revenue growth, leadership additions, analyst and partner accolades, Icertis Contract Intelligence (ICI) platform innovations, and record customer selection and expansions deals that underscore worldwide demand for deeper business insights and accelerated collaboration across enterprises and supply chains.
Building a World-Class SaaS Organization
Icertis has become a critical system of intelligence for the C-suite and emerged as the clear leader in the rapidly growing CLM enterprise SaaS category. In the first half of 2021, Icertis added a record number of new logos to its customer roster and saw over 40% of its live customers expand ICI use.
Scores of marquee brands and mid-market organizations, such as Allina Health, Harley-Davidson, Moda Health, RAC Western Australia, and Sierra Oncology, selected Icertis or expanded their scope of ICI use—whether extending contract intelligence to new departments or geographies, or increasing the scale of their initiative. These enterprises keep company with hundreds of market leaders on Icertis' impressive customer roster, including Accenture, Chemonics, Cognizant, Daimler, Gateway Health, Gordon Food Service, Microsoft, Sanofi, and ServiceNow, among others.
AI Awards, Analyst Accolades, and Partner Praise
Innovations Deliver Deeper, Faster Contract Intelligence
In the first half of 2021, the company delivered multiple advancements to its core platform that make contract data and insights more accessible and greatly speed contract authoring and completion. Newly released solutions and ICI features include:
With the largest R&D organization in the CLM sector, Icertis has also invested significantly this year to develop Icertis Contract Intelligence for vertical sectors, as well as a series of business applications, to be rolled out throughout the 2H of the year.
For more information about Icertis, visit www.icertis.com.
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