Says its subscription revenues grew more than 300% yoy
Icertis, a provider of enterprise solutions in the Microsoft cloud, said it has posted another year of strong gains and market penetration in 2014. Fueled by the momentum behind its suite of born-in-the-cloud ERP surround products and marquee customer acquisitions, including Hyundai, AbbVie, Becton Dickinson, and Chemonics, overall product subscription revenues grew by 300% year-over-year.
In 2014, Icertis’ flagship product Icertis Contract Management (ICM), further asserted market leadership in the Contract Lifecycle Management domain. John Yates, CIO, Chemonics, said, “We selected Icertis because of ICM’s intuitive user interface, robust configurability, and the company’s agility to respond to our complex global contracting needs. We are delighted with the implementation – the product has enhanced our contracting process and made it even smoother and more efficient.”
In the Gartner research report “Predicts 2015: A Maturing Procurement Technology Market Creates New Opportunities for Value Creation”, published on November 20, 2014, Nigel Montgomery and other analysts write, “By the close of 2017, contractual complexity and audit scrutiny will drive a 40% or higher increase in contract lifecycle management (CLM) solution adoption.”
“We are excited to deliver yet another year of solid growth. These results reflect the execution of our laser-focused strategy of being a customer-centric organization,” said Samir Bodas, CEO, Icertis. “As more large enterprises adopt the cloud, we foresee a positive outlook for the coming year, especially in contract management, where our ability to adapt to our customers’ contracting complexity and compliance needs drives growth. We will continue to accelerate our momentum with proven products and domain expertise, further strengthening our foothold in the market.”