Gartner, Inc. recently announced the results of their 2021 Magic Quadrant for Contract Life Cycle Management. Last year, the firm analyzed 12 vendors and their performance in the CLM market for the first time ever. This year, the field grew to 15 vendors with Agiloft once again making an appearance in the Leaders quadrant for the second year in a row.
If the past year of the global pandemic has taught us anything, it’s that business processes and cycle times need to be adaptable and effective under any conditions. In the report’s market overview, Gartner points out that “CLM appeals to companies of all sizes in all industries. Implementing it can lead to significant improvements in revenue management, cost savings and efficiency. Understanding and automating CLM can also limit an organization’s liability and increase its compliance with legal requirements.”*
As we pointed out last year, a CLM Solution Leader can make a difference in many areas of the business, including procurement, sales, and legal operations; this still holds true today as the world emerges to a brand new “normal” across the supply chain and beyond. Businesses of all sizes are facing the need for increased speed, accuracy, and proactive management of information, especially the important details in contracts across the organization.
Case in point: J.B. Hunt Transport Services, Inc., one of the world’s largest supply-chain solution providers, turned to Agiloft to help manage its 100,000 plus documents and more than 25,000 contracts just prior to the pandemic. As their workforce and operations transitioned out of their headquarters due to pandemic facility shutdowns, the legal team was able to use Agiloft to seamlessly manage and oversee changes to supplier terms related to the impact of COVID-19. Learn more about their journey with Agiloft in this case study.
Choosing Agiloft means choosing a CLM Leader who brings overall value and market responsiveness combined with our no-code platform that is customizable for a customer’s needs. Our core strengths extend beyond our platform to include opportunities to learn more about the value of effective contract management, the tactics to build a globally scalable contract management process, and how frictionless contracts are the future.
Get your complimentary copy of the Gartner 2021 Magic Quadrant for Contract Life Cycle Management to learn how Agiloft’s CLM leadership can help drive your business.
*Gartner "Magic Quadrant for Contract Life Cycle Management" by Analysts Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, Jim Murphy. May 10, 2021.