Icertis Wins "Best Contract Management Solution" Award from FinTech Breakthrough
Global Awards Program Honors Icertis for Innovative Contract Intelligence Technology that Enables Strategic Outcomes for Finance Teams
BELLEVUE, Wash., March 23, 2023 /PRNewswire/ -- Icertis, the contract intelligence company that pushes the boundaries of what's possible with contract lifecycle management (CLM), today announced it has received the "Best Contract Management Solution" award in the seventh annual FinTech Breakthrough Awards program. This honor follows the company's recognition as the LegalTech Breakthrough award winner for "Contract Management Innovation of the Year" and is a testament to the strategic outcomes enabled by contract intelligence for finance teams across all industries.
Icertis was selected from more than 4,000 nominations worldwide for its ability to help companies rapidly digitize contracts, structure the information within them into data, and connect that data to the surrounding ERP, SCM, CRM, and HCM systems that contracts touch. By applying artificial intelligence to contract data, Icertis is establishing contract intelligence as the fifth enterprise system of record and enabling businesses to increase revenue, reduce costs, ensure compliance, and manage risk.
"Today, digital solutions that can read contracts, structure their data, and connect that data across the enterprise are changing how businesses look at their contracts – not as cumbersome documents to be managed but as a strategic advantage to be leveraged," said James Johnson, Managing Director, FinTech Breakthrough. "By applying AI to the critical business information contained in contracts, Icertis has created a new breakthrough category of software – contract intelligence – and a new approach to contract lifecycle management tat supports speed, scale, and new insights with every transaction. Congratulations to the Icertis team on winning the 'Best Contract Management Solution' award for 2023!"
Contracts are the foundation of commerce, acting as the single source of truth for relationships between companies and their suppliers, customers, partners, and employees. The Icertis Contract Intelligence (ICI) platform is built for every type of contract, allowing finance departments to partner with legal and procurement teams to digitally transform contracts and leverage data and AI to inform long-term strategies. With contract intelligence, companies can achieve the transparency and automation needed to realize critical revenue and compliance outcomes vital to the current business environment.
"Top banks and finance departments are thinking differently about how contracts impact their businesses in every way – they are navigating economic uncertainty, evolving competition, heightened oversight and increasing regulations, complex investments, and operational inefficiencies," said Jim Burnick, Senior Director of Financial Services, Icertis. "At the core of digital transformation initiatives, Icertis centralizes contract management and integrates contract data with intelligence into other systems of record for unimagined insights across the entire organization. Receiving this recognition is a testament to the business value that Icertis provides as companies look to ensure the intent of every contract is correctly captured and fully realized."
Icertis was the first company to grasp the true potential of CLM and has boldly pursued the vision of organization-wide contract intelligence for over a decade. The company has continued to build momentum as 30 percent of the Global 500 choose to build trust, strengthen bonds, and create a better world with Icertis.
The awards program is led by Tech Breakthrough, a leading independent market intelligence organization that conducts the industry's most comprehensive analysis and evaluation of the top technology companies, solutions, and products.
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