Technology edit
Icertis provides cloud-based software to digitize, organize, and centralize business contracts, and licenses it to companies using a software-as-a-service model.[1][2][3] The company's flagship product, Icertis Contract Intelligence, is a contract lifecycle management platform.[4] The software platform allows a company to digitize and store all of its contracts in the cloud.[1][3] This simplifies the process of managing contracts by creating a centralized digital library containing all of a company's contracts, as opposed to a filing cabinet filled with paper copies.[1][3] This digital library is supported by artificial intelligence (AI) technology, which can search for and identify problematic contract clauses and flag potential compliance issues.[5][3] Its machine learning capabilities can read contracts and offer insight about what its terms might mean for a company's finances.[6] It can also aid in quickly drafting new contracts.[4]
The Icertis platform integrates with Salesforce, Workday, Microsoft Dynamics, SAP Ariba, and SAP Customer Experience.[7][8]
In 2019, Icertis worked in collaboration with Microsoft to develop blockchain technology for Mercedes-Benz.[9] This technology enabled Mercedes-Benz to launch a blockchain prototype that recorded each individual action within in its supply chain, which Mercedes could then review to ensure that its suppliers were conforming with Daimler AG's quality and ethics standards.[10] As of 2021, Icertis's contract management software has been used by large multinational companies such as Microsoft, Sanofi, Daimler AG, and Cognizant.[11][12]
References edit
- ^ a b c Dearton, Thomas Hector (March 11, 2021). "This Pune-based startup tripled its valuation in less than two years". Business Insider India. Retrieved January 5, 2021.
- ^ Merten, Paxtyn (October 21, 2019). "Cloud company expands Bellevue HQ amid hiring wave". Puget Sound Business Journal. Retrieved January 5, 2021.
- ^ a b c d Berthiaume, Dan (January 18, 2022). "Pacsun digitally transforms contract management". Chain Store Age. Retrieved January 5, 2021.
- ^ a b Raval, Abhishek (August 5, 2021). "KPIT solves pandemic related contractual complexities with CLM solution". Express Computer. Retrieved January 5, 2022.
- ^ Labbe, Mark (March 12, 2021). "Icertis raises $80M for AI-powered contract management". Tech Target. Retrieved January 5, 2021.
- ^ Levy, Nat (June 17, 2019). "Contract management startup Icertis hits $1B valuation with massive $115M funding round". GeekWire. Retrieved January 5, 2022.
- ^ Brooks, Steve (January 26, 2022). "SAP invests in Icertis and strengthens partnership". EnterpriseTimes. Retrieved January 30, 2022.
- ^ Shu, Catherine (March 10, 2016). "Contract management software maker Icertis raises $15M Series B". TechCrunch. Retrieved January 5, 2022.
- ^ Wheatley, Malcolm (July 4, 2019). "Blockchain: Potential unlocked?". Automotive Logistics. Retrieved January 5, 2021.
- ^ Sturman, Catherine (May 16, 2020). "Mercedes-Benz launches a breakthrough blockchain-prototype to deliver sustainable supply chains". Manufacturing Global. Retrieved January 5, 2021.
- ^ Bhalla, Kritti (September 1, 2021). "After Freshworks, Icertis is looking for an IPO for next year in the US". Business Insider India. Retrieved January 5, 2022.
- ^ Fassbender, Melissa (August 30, 2017). "Sanofi Taps Icertis". Outsourcing Pharma. Retrieved January 5, 2022.