Icertis, a specialist in AI-powered contract intelligence, is honoured with the 2024 Artificial Intelligence Excellence Award from the Business Intelligence Group for its innovative Icertis Copilots application. The award recognises Icertis’s use of generative AI to streamline contract reviews, manage risks, and extract valuable data insights for enhanced commercial activities.
Icertis Achieves Recognition for AI Innovation with 2024 Award
Enterprise Contracting Platform Honoured for AI Excellence
March 25, 2024 – BELLEVUE, Wash.
Icertis, a company specialising in AI-powered contract intelligence, has received the 2024 Artificial Intelligence Excellence Award from the Business Intelligence Group. It was recognised specifically for its Icertis Copilots, a generative AI application designed to streamline contract review processes, mitigate risks, and extract valuable data insights to enhance commercial activities.
The Artificial Intelligence Excellence Awards aim to honour organisations, products, and individuals making significant advancements in AI and utilising the technology to address real-world challenges. Icertis distinguished itself among other nominees by successfully integrating generative AI to produce tangible business results. The Icertis Copilots combine large language AI models with the company’s proprietary AI to extract and analyse data from contract information, enterprise data, and external sources such as ChatGPT, all built on the Microsoft Azure OpenAI infrastructure.
Monish Darda, Co-founder and Chief Technology Officer at Icertis, commented on the achievement, “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.”
Icertis has positioned itself as a significant player in the AI and contract management space, achieving over $250 million in annual recurring revenue (ARR). The company’s AI applications are aimed at helping organisations tap into rich contract data to inform business decisions, manage risks, and drive compliance.
Maria Jimenez, Chief Nominations Officer for the Business Intelligence Group, acknowledged Icertis’s contributions, stating, “We are truly honoured to recognise Icertis with this prestigious award. 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 award marks the second consecutive year that Icertis has been named an Artificial Intelligence Excellence Award winner. The company has been recognised multiple times for its innovations, including its placement on the Forbes Cloud 100 list for five consecutive years, recognition by the Financial Times as one of the fastest-growing companies in the Americas, and a Gold Stevie® Award for Achievement in Technology Innovation from the International Business Awards Program.
As the demand for AI-driven solutions in enterprise operations continues to grow, Icertis’s platform exemplifies how generative AI can be effectively implemented to enhance business processes. The award reflects the broader trend of integrating advanced AI models to manage vast amounts of data and automate complex operational tasks across various industries.
About Icertis
Icertis is a global leader in AI-powered contract intelligence. Its platform aims to revolutionise contract management by offering insights and automation designed to help clients increase revenue, control costs, manage risks, and ensure compliance. Icertis’s solutions are trusted by approximately 30% of the Fortune 100 companies, spanning over 90 countries.
Contacts
For media inquiries, please contact:
Michelle Rodriguez
Senior Manager, Corporate Communications
[email protected]
