Icertis Announces Icertis ExploreAI


Next Generation AI-powered Contracting Partner to Optimise Performance by Empowering Business Users with Contract Intelligence

Icertis announced Icertis ExploreAI, its next-generation AI-powered contract intelligence partner, with generative, assistive, natural language capabilities that enable even greater customer value from unstructured and structured contract data connected across the enterprise.

ExploreAI combines the power of large language AI models and Icertis proprietary AI models to derive insights from a customer’s contract data, enterprise data, the Icertis Data Lake, and ChatGPT to deliver new, powerful, material business outcomes. The new AI capabilities build on the strong momentum Icertis customers experience, leveraging Icertis AI products to accelerate the drafting, negotiating, and execution of commercial agreements, derive deep insights from their contracts, and ensure the full intent of those agreements is realised.

Developed in collaboration with Microsoft, Icertis ExploreAI uses both Icertis AI services and Microsoft Azure OpenAI Service so customers can trust that their contracts’ valuable, unique business data remain secure while responsibly leveraging generative AI technology. Icertis was a launch partner for the Azure OpenAI Service.

“Icertis was the first to recognise contracts as the fifth System of Record. Over the last decade, we built the most diverse and largest contracting data lake in the world, which today has more than 2 billion contract-specific metadata and transactional elements and growing. The current suite of Icertis AI products, built on the Icertis Data Lake, has enabled some of the world’s most iconic brands and disruptive innovators to drive contracting efficiencies and derive contracting insights to power bottom-line results,” said Monish Darda, Co-Founder and CTO of Icertis. “With Icertis ExploreAI, Icertis is expanding our AI offering, applying natural language via Azure OpenAI Service to unlock exciting new contract intelligence use cases further, driving significantly higher value to customers and continuing to transform contracting – the foundation of commerce.”

With the Icertis Contract Intelligence platform and Icertis ExploreAI, Icertis is helping its global customer base to:

  • Drive better business performance with unprecedented visibility
    • Intelligently and conversationally query their contract portfolios in new ways that surface key insights to increase revenue, reduce costs, drive compliance, and manage risk.
  • Accelerate the pace of business by empowering users to “naturally” work with contracts
    • Summarise and demystify contracts and provisions so business users and contracting teams can partner even more closely and reduce cumbersome and expensive legal review cycles that slow the pace of business.
  • Make better business decisions faster
    • Analyse contracts and contracting performance in the context of the core business processes they drive by integrating contract data and enterprise data from ERP, SCM, CRM, and HCM systems, as well as the Icertis Data Lake.
  • Realise the full intent of every contract every time
    • Uncover, monitor, and ensure entitlements and obligations within every type of contract are delivered to maximise the value of all commercial agreements.
  • Trust that they are using generative AI responsibly
    • Responsibly integrate generative AI in everyday contracting processes with the security, scalability, and reliability of Icertis AI and Microsoft Azure OpenAI Service.

“Azure OpenAI Service delivers on what enterprise customers have come to expect from our Azure cloud and computing infrastructure—security, reliability, compliance, data privacy, and built-in Responsible AI capabilities – with the power of large-scale generative AI models,” said Nicole Dezen, Chief Partner Officer and Corporate Vice President, Global Partner Solutions, Microsoft. “It’s great to see Icertis building on this platform with their proprietary AI and data lake to bring AI-powered contracting efficiencies and insights to enterprise customers.”

“We are excited about GenAI for legal services. Based on our working relationship with Icertis, we have been engaging with their team to assess the opportunities of GenAI,” said Ulrike Schwarz-Runer, Global General Counsel at Boston Consulting Group.