PUNE, India, Sept. 21, 2020 /PRNewswire/ -- Icertis, the contract intelligence company that pushes the boundaries of what's possible with contract lifecycle management (CLM) software, today announced it won The Peak Tech Laureates 2020 Artificial Intelligence (Established Enterprises) award. With entries from across the globe, Icertis was recognized for the most comprehensive AI solution for digitally transforming contracts and the processes that touch them to deliver greater competitive advantage, operational efficiency, enhanced productivity, and improved customer experiences.
Contracts underpin commercial relationships and define how businesses run and analysts estimate digitally transforming contracting is a more than $20 billion market. The AI-powered Icertis Contract Intelligence (ICI) platform turns contracts from static documents to strategic advantage, by structuring and connecting the critical contract information that defines how an organization runs. To unleash the transformative power of AI in contract management, Icertis leverages the unmatched quantity, quality and variety of data in the ICI platform today – 7.5 million contracts and related artifacts in 40+ languages, from 90+ countries, across 25+ industry verticals, and have a contract value of more than $1 trillion.
"The Icertis Contract Intelligence (ICI) platform helps customers digitally transform how they manage their contracts worldwide and solve previously intractable contracting challenges with the transformative power of modern AI technology," said Glen Francis, Chief Technology Officer, Singapore Press Holdings Limited.
In today's changing market environments, companies need to ensure that high-value commercial insights are available in real time, all agreements are in compliance, all commitments are upheld, and new information makes the whole system smarter. Icertis' award-winning AI solutions digitize legacy contracts and import third-party contracts up to 80% faster, analyze past negotiation history to gain insights for improvement, and provide deep data visualization capabilities that provide unprecedented intelligence into contract relationships and performance.
"We are honoured to receive The Peak Tech Laureates 2020 award for our AI-powered platform," said Monish Darda, CTO & Co-founder Icertis. "This recognition underscores the growing importance of next-gen solutions for contract management across the globe and the massive potential unleashed when AI is incorporated into critical business processes. We are continually enhancing the AI capabilities of the ICI platform and applying contract intelligence to business processes to benefit our customers now and in the future."
The Peak Tech Laureate awards seek to recognize the best and brightest across fields as diverse as artificial intelligence, big data, analytics, cybersecurity, and e-commerce, among others. The awards recognize the very best across the technology landscape. The esteemed judging panel of 33 C-suite leaders from highly successful companies across multiple industries, selected the solution providers that have successfully implemented products or solutions leveraging modern technologies to deliver tangible business impacts.
With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what's possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs. Today, the world's most iconic brands and disruptive innovators trust Icertis to fully realize the intent of their combined 7.5 million+ contracts worth more than $1 trillion, in 40+ languages and 90+ countries.
About The Peak Tech Laureates
The Peak Tech Laureates seeks to honour technology partners who empower corporations with their most innovative and compelling services and solutions. This inaugural event celebrates the best of what Singapore's tech industry has to offer.
About The Peak Magazine
The Peak is Singapore's leading luxury lifestyle magazine read by an esteemed audience comprising C-suite executives, professionals, entrepreneurs, diplomats, and captains of industry. Celebrating its 36th anniversary this year, The Peak is committed to supporting the future shapers of our digital tomorrow.