Icertis, the global leader in AI-powered contract intelligence, today announced a new partnership with Evisort to accelerate customers’ journey to contract intelligence. This strategic partnership enhances value from the Icertis platform, enabling new and existing Icertis customers to leverage Evisort’s contract-specific AI engine to accelerate the ingestion and analysis of contract data to deliver actionable insights and optimized workflows.
The Icertis platform transforms contracts into strategic assets that drive key business outcomes including revenue growth, cost control, risk mitigation, and compliance. By extracting the critical information contained in contracts, structuring it into a common data model, and connecting it seamlessly with operational systems like ERP, SCM, CRM, and HCM, Icertis can ensure the intent documented in every contract is fully realized in practice.
"Contracts are foundational to every business relationship, documenting the critical obligations and entitlements between an enterprise and its customers, suppliers, and partners," said Samir Bodas, CEO of Icertis. "With the pace of innovation in AI and across CLM, to deliver the best value to customers, we are embracing an open platform approach that leverages best-of-breed LLMs and partner capabilities across industry verticals, functions, languages, and hyperscalers to extend the proven, secure, and scalable Icertis platform wherever doing business intersects with contracts. I am excited to announce our partnership with Evisort so our joint customers gain material and unique value from the power of Icertis Contract Intelligence and Evisort AI."
Jerry Ting, CEO of Evisort commented, "By integrating our contract-specific AI engine with the Icertis Contract Intelligence platform, we can enable joint customers to rapidly ingest and analyze both legacy and new agreements, accelerating insights that drive business performance. Our collaboration with Icertis will set new standards for how contracts are managed and executed, and deliver exceptional outcomes to our joint customers."
As part of this new partnership, Evisort’s contract-specific AI engine works in concert with Icertis Discover Copilot to ingest and analyze contract data from new and legacy contracts with the correct semantic meaning to increase the speed, scale, and accuracy of the insights provided by the Icertis platform. This enhanced capability, which is currently used by leading enterprises including Microsoft, allows businesses to leverage their contract data to drive strategic business decisions and operational excellence.
"Achieving contract intelligence requires a robust central platform for structured and connected contract data that can be mined for insights by artificial intelligence. Working with Icertis and Evisort has significantly advanced our ability to perform contract analytics that drive the business forward," said Tom Orrison, senior director of Legal Operations at Microsoft.
Icertis is continually recognized by industry analysts for its completeness of vision in contract intelligence. In addition to Evisort, Icertis has a robust ecosystem of partners that are in position to extend and enhance its platform including SAP, Microsoft, Accenture, Deloitte, KPMG, and PwC.
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, 33% of the Fortune 100 trust Icertis to realize the full intent of millions of commercial agreements in 90+ countries.
About Evisort
Evisort is the leader in providing customizable, AI-native contract lifecycle management solutions that transform legal challenges into business opportunities. Its Contract Intelligence Platform, trained on 11M+ contracts and 1B+ data points, parses the nuanced context and meaning of legal language and helps operational teams at global organizations including Microsoft, Workday, McKesson, BNY Mellon and NetApp know everything about their contracts so they can expedite deals, cut contract-related risk and costs, and turn contract management into a powerful tool for enterprise success.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240508554729/en/
Contacts
Icertis: Michelle Rodriguez
Senior Manager, Corporate Communications
corpcomm@icertis.com
Evisort: Kelli Negro
media@evisort.com
