We recently carried out research into the use of artificial intelligence and data analytics within Legal Contract Management, an important process for financial institutions.  This included insights on the leading solution vendors in this field.

This short article in our Distinctive Insights Intelligence Vault series provides insights into one of the key vendors in this field.  Our aim in publishing this content is to help finance professionals further understand how artificial intelligence and data analytics are being applied to support key business processes within financial institutions.

In creating this report, we analyzed data for the period 1^st January 2023 to 28^th February 2025.

Icertis

Vendor’s Self-description:

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

Key Highlighted Insights:

Contract Lifecycle Management

AI-powered Contract Management Solution with PwC and Microsoft: Extracting insights, automating processes, and enhancing business transparency.

• PwC, Microsoft, and Icertis have collaborated to introduce an AI-powered contract management solution aimed at enhancing digital transformation, ESG commitment delivery, and business transparency. The contract intelligence platform will enable businesses to extract insights from contracts, automate processes, achieve cost savings, enhance ESG commitment delivery, improve risk management, and increase transparency. The collaboration involves Icertis providing the contract intelligence platform, Microsoft contributing the Azure platform for powering the solution and integrating generative AI into contracting, and PwC acting as the transformation partner to facilitate enterprise-wide transformation.

Partnership with Harvey for AI-driven Contract Analysis: Enhancing contract lifecycle management through AI integration.

• Harvey has entered a partnership with Icertis, a prominent Contract Lifecycle Management (CLM) company. This collaboration is aimed at integrating Harvey’s specialized AI technology into Icertis’ platform to provide enterprise users with enhanced capabilities for contract analysis.

Contract Intelligence

Icertis ExploreAI: A generative AI-powered tool designed to provide deep insights into contract data, enabling faster and more informed decision-making.

• Icertis launched Icertis ExploreAI, a new solution that incorporates ChatGPT into its Contract Intelligence platform, developed in collaboration with Microsoft. This integration enhances contract intelligence by utilizing generative, assistive, and natural language capabilities to help users understand complex contract clauses and reduce legal review time. The solution aggregates contract data from various systems into the Icertis Data Lake, allowing for faster contract analysis, and the identification of anomalies and opportunities.

Generative AI Applications for Contract Lifecycle Management: Optimizing contract drafting, negotiation, and execution through AI-driven automation.

• Icertis unveiled two new generative AI applications, Interactive Insights Copilot and Risk Assessment Copilot, on its Icertis Contract Intelligence (ICI) platform. These applications, powered by Microsoft OpenAI and Icertis’ proprietary AI model on the Azure platform, aim to enhance decision-making during negotiations and assess contract risk efficiently. The Interactive Insights Copilot offers insights for decision-makers, while the Risk Assessment Copilot helps organizations evaluate new contracts against standard playbooks, providing a risk score for quick risk assessment.

OmniModel Strategy with DeepSeek R1: Leveraging AI to enhance operations, mitigate risks, and improve revenue recovery.

• Icertis integrated its contract intelligence platform with DeepSeek R1 as part of its OmniModel strategy, allowing enterprises to leverage AI to enhance operations, mitigate risks, and improve revenue recovery. This collaboration aims to provide deeper insights into contract data, facilitating informed decision-making and better contract performance.

SAP Integration: Enhancing contract intelligence with seamless connectivity between platforms.

• Icertis has introduced a new integration, Icertis Contract Intelligence (ICI) for SAP S/4HANA (Buy Side), which connects AI-driven contract intelligence with SAP S/4HANA to enhance procurement operations. This premium certified SAP Endorsed App aims to empower procurement teams to streamline sourcing, negotiate better commercial terms, and improve compliance with regulatory and corporate policies. The ICI platform aims to accelerate value and increase savings by automatically suggesting clauses based on historical business relationships and tracking obligations.

Expanded Partnership with Grant Thornton LLP: Implementing AI-powered contract intelligence for procurement, legal, and finance functions.

• Grant Thornton LLP has expanded its partnership with Icertis. The firm will be implementing the Icertis Contract Intelligence (ICI) platform across its procurement, legal, and finance departments. This platform leverages artificial intelligence to automate and enhance business contracts, ultimately driving revenue growth, cost reduction, compliance improvement, and risk mitigation. Furthermore, Grant Thornton intends to utilize the Icertis NegotiateAI application to accelerate contract negotiation processes through the identification of contract term and clause patterns.

Strategic Partnership with BearingPoint: Enhancing operational efficiency by integrating contract intelligence with core business systems.

• Icertis has entered into a strategic partnership with BearingPoint to enhance operational efficiency by integrating its platform with BearingPoint’s core systems, including CRM. This integration aims to optimize internal contracting processes, thereby expecting to boost revenue and reduce operational costs.

Strategic Partnership with Evisort: Expanding AI-driven contract capabilities by integrating best-in-class technologies for more comprehensive contract solutions.

• Icertis announced a strategic partnership with Evisort to enhance contract intelligence through the integration of AI technology, allowing customers to benefit from faster analysis and insights. The collaboration aims to improve contract data analysis and insights, leveraging Evisort’s AI-native contract lifecycle management solutions and Icertis’ AI-powered contract intelligence platform.

Integration with Microsoft Dynamics 365 Supply Chain Management: Enhancing procurement processes with real-time visibility into supplier contracts.

• Icertis has integrated its platform with Microsoft Dynamics 365 Supply Chain Management to enhance procurement processes by providing real-time visibility into supplier contracts, which will help businesses control costs and mitigate risks. This collaboration aims to streamline workflows, improve decision-making, and bolster compliance management.

Example Comparison Vendors:  Evisort, Ironclad

The full report can be purchased here: https://distinctiveinsights.ai/product/ai-in-legal-contract-management-spotlight-report/