Icertis Wins 2024 Artificial Intelligence Excellence Award for Generative AI Innovation

Awards Program Honors Icertis as Standout in Enterprise Contracting

BELLEVUE, Wash.--(BUSINESS WIRE)--Icertis, the global leader in AI-powered contract intelligence, today announced it was named a winner in the 2024 Artificial Intelligence Excellence Awards program led by the Business Intelligence Group. Icertis was the only contract lifecycle management (CLM) vendor selected for its commitment to AI innovation with the delivery of Icertis Copilots, the market’s first enterprise-grade generative AI applications that automate high-volume contract reviews, protect businesses from risk, and deliver data-driven insights to create value in commercial relationships.

The Artificial Intelligence Excellence Awards celebrate organizations, products, and people who bring AI to life and apply it to solve real problems. Icertis stood out from fellow nominees for its ability to enable material business outcomes with generative AI by combining large language AI models and Icertis proprietary AI models to derive interactive insights from contract data, enterprise data, the Icertis data lake, and ChatGPT. Built on Microsoft Azure OpenAI, Icertis Copilots also provide the reliability large-scale enterprises need to responsibly integrate AI into core business operations while keeping valuable contract data safe and secure.

“In today’s fast-paced business environment, enterprise leaders face increasing pressure to not only adopt generative AI but also demonstrate clear, measurable returns from their investments. Icertis Copilots leverage the power of our platform and the years of experience gleaned from solving some of the most complex contracting process problems on the planet to deliver an immediate impact on growing revenue and reducing risk,” said Monish Darda, Co-founder and CTO, Icertis. “Winning the Artificial Intelligence Excellence Award not only validates our leadership in AI-driven enterprise innovation but also affirms our commitment to delivering even greater value from our platform in the gen AI era.”

Icertis is at the forefront of AI transformation and continues to reimagine the role of contracts in the enterprise to accelerate the pace of business across all industries. Icertis Copilots are now the fastest-growing products in the company’s history, recently propelling Icertis above $250 million in annual recurring revenue (ARR) as customers seek to unlock the rich data contained in commercial agreements with the power of generative AI.

“We are truly honored to recognize Icertis with this prestigious award,” stated Maria Jimenez, Chief Nominations Officer for the Business Intelligence Group. “Their team’s unwavering commitment to excellence and innovative AI applications that deliver bottom-line results for the world’s largest enterprises have catapulted Icertis to this remarkable achievement. Congratulations to the entire organization!”

This recognition marks the second consecutive year that Icertis has been named an Artificial Intelligence Excellence Award winner, building on the company’s continued momentum with AI technology by bringing together purpose-built AI with contract data that reflects every business transaction. Last year, Icertis celebrated its fifth consecutive year on the Forbes Cloud 100 list, was honored by the Financial Times as one of the fastest-growing companies in the Americas, and won the Gold Stevie® Award for Achievement in Technology Innovation from the International Business Awards Program.

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, 30% of the Fortune 100 trust Icertis to realize the full intent of millions of commercial agreements in 90+ countries.