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MGI 360 Ratings - Icertis in Contract Lifecycle Management (CLM)

MGI 360 Ratings LogoSUMMARY: We initiate the MGI 360 Rating of Icertis in Contract Lifecycle Management (CLM) with a score of 60 and a POSITIVE outlook. 


OPINION: Icertis emerged as one of the leaders in the enterprise segment of CLM with a demonstrable base of buy-side and sell-side references in high tech, life sciences, industrials and automotive sectors. Icertis is among a few CLM suppliers that is actively pushing towards CLM Stage 5-6 capabilities such as AI/ML and Blockchain. Icertis management team has an ambitious enterprise-wide vision of the CLM opportunity and has been aggressively aiming at both vertical and geographic markets. The company has a diverse set of marketing and implementation partnerships, but all of the sales are carried out by the direct sales force in North America, Europe and Asia. Field references give Icertis generally positive marks for implementation and support experience but also reflect the current state of company maturity.  Rating detail is in the research note attached below.

USE CASE: A mid to large services or industrial enterprise or a government organization with a wide variety of revenue and procurement models and mid-to-high levels of contract complexity. 

COMPANY DESCRIPTION: Founded by Samir Bodas and Monish Darda, Icertis is a supplier of cloud-based CLM solutions built around Microsoft Azure platform. Fueled by 5 rounds of venture funding that exceed $200 Million, the company grew rapidly since inception. Its customer base is highly international (90+ countries) with a focus on large complex multinational organizations.  Icertis provides CLM solutions for buy-side, sell-side and enterprise contexts. The company has been augmenting its offerings with features and capabilities that move it away from pure document management towards a data orientation for CLM. The company operates in North America, Europe, India, Australia and Singapore. We estimate headcount of around 900. 

COMPETITORS: Apttus,  Ironclad, SAP, Thomson Reuters Legal, Concord, Exari (Coupa), Jaggaer, Conga


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The MGI 360 ratings are on a scale from 0 to 100 and reflect company opinions of MGI analysts in five key areas on a scale of 0 to 20:

  • PRODUCT: How strong is the product competitive position
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Note: This initial rating utilizes the overall MGI 360 Peer averages

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