Businessmodel of Icertis

Customer Segments

Icertis has a mass market business model, with no significant differentiation between customer groups. The company targets its offerings at firms of all industries and sizes.

Value Proposition

Icertis offers four primary value propositions: accessibility, convenience, performance, and brand/status.

The company creates accessibility by providing a wide variety of options. Its platform works seamlessly with Microsoft Office and integrates easily with all major CRM, ERP, PLM, CPQ, Sourcing Procurement, Service Management, Project Management, and Document Management solutions.

It can also be implemented across different markets and geographies thanks to multilingual support. Lastly, its solution can manage any type of contract – including sell-side, buy-side,  corporate, MSA, NDA, SOW, MoUs, and employment.

The company offers convenience by making life simpler for clients. It features a configurable dashboard that adapts to the role of the user and provides only the metrics and data that that person needs. New workflows, fields, and rules can be configured without custom development. Lastly, its “smart search” feature saves key data specific to the user’s contracts.

The company demonstrates strong performance through tangible results. Specific positive outcomes for clients include the following:

• ABB used Icertis’ solutions to reduce the amount of time its strategic procurement contracts waited at each internal stage, resulting in a drop in average cycle time from 24 days to four
• Abbvie Canada used Icertis’ solutions to change its procurement contracting process, resulting in a reduction in contract cycle time by more than 90%
• KPIT used Icertis’ solutions to establish alerts and escalations and centralize enforcement, resulting in a 50% improvement in contract turnaround
• MindTree used Icertis’ solutions to introduce a new contract management system, resulting in a 40% improvement in contract turnaround times

• Microsoft used Icertis’ solutions to streamline its contract management, resulting in a reduction in contract administration costs by 40% and an improvement in contracting speed by 60% The company has established a strong brand due to its success. It bills itself as the leading provider of contract lifecycle management in the cloud. Its ICM solution manages over 2.5 million contracts by more than 750,000 users in over 90 countries and over 40 languages. It has many prominent customers, including Becton Dickinson, Daimler AG, Hyndai, Microsoft, and Roche. Lastly, it has won many honors, including the following:

• Recognition as a “Leader“ in The Forrester Wave: Contract Life-Cycle Management
• Recognition as a Top 50 Private Cloud Company to Work For by Glassdoor and Battery Ventures
• Recognition as one of Gartner’s Cool Vendors in Procurement and Sourcing Technology
• Recognition as Procurement Software Solution Provider of the Year by ELSC ### Channels

Icertis’ main channel is its direct sales team. The company promotes its offerings through its website, social media pages, sponsorships, and participation in summits and conferences.

Customer Relationships

Icertis’ customer relationship is primarily of a self-service, automated nature. Customers utilize its software products while having limited interaction with employees.

The company’s website features a “Resources” section that includes useful tools such as white papers, analyst reports, and case studies. The site also provides answers to frequently asked questions.

That said, there is a personal assistance component in the form of phone and e-mail support.

Key Activities

Icertis’ business model entails designing and developing software products for its customers.

Key Partners

Icertis maintains partnerships with the following companies:

·         Adobe Sign