How AI and NLP accelerate contract lifecycle management (CLM), Icertis raises $150M

Join us on November 9 to learn how to successfully innovate and achieve efficiency by upskilling and scaling citizen developers at the Low-Code/No-Code Summit. Traditional contract lifecycle management (CLM) tools focus on improving document workflows. However, Icertis seeks to take the field to the next level with contract intelligence that uses artificial intelligence (AI) and machine learning (ML) to automatically extract contract data at scale. These tools are designed to structure contracts' commercial, legal and operational data and connect that data to procurement, ERP and human capital management apps to help companies accelerate revenue, reduce costs, improve risk management and ensure compliance. When VentureBeat previously covered Icertis in 2019, the CLM market was expected to be worth $3.16 billion by 2023.