Global industry analyst firm, Gartner, recently released its 2020 Critical Capabilities for Contract Life Cycle Management*. This third-party report measures the strengths and capabilities of a dozen leading vendors that deliver contract management solutions. By breaking down the capabilities by use case, Gartner scores solutions based on their ability to fit user needs in Procurement, Sales, Legal, or Enterprise.
In its report, Gartner says:
“The three main stakeholder groups making strategic contract decisions in an organization are procurement, sales and legal. Depending upon the scope of your contract initiative, one or more of these organizations will be involved in the vendor evaluation process. Enterprise CLM initiatives will always involve legal and often all other departments engaging in contracts with a third party. Each stakeholder group has specific priorities and roles to play in the life cycle of a contract. Gartner has aligned the use cases in this research to the core CLM stakeholders.”
But how do we define these use cases? And what capabilities did Gartner include in each use case? Read more in the full report here.
Use Case: Procurement
In the above image we see how Gartner scored each vendor on a five-point scale for the Procurement Use Case. In the report, Gartner defines the Procurement Use Case as:
“A use case focused on the needs of procurement stakeholders.
This use case is characterized by the priorities of procurement in the contract management process. Key capabilities needed by procurement organizations include searching contracts, updating and renewing contracts, and enabling procurement workflows with applications like e-sourcing and procure-to-pay suites. Procurement also typically needs the ability to manage contract requests, run reports and store supplier contracts. It may also need to support the negotiation of business terms, but broader contract negotiations are typically handled by the legal department. Procurement contracts are often also referred to as buy-side contracts.”
Read the full 2020 Gartner Critical Capabilities for Contract Life Cycle Management to learn how each vendor scored per capability and also explore the Use Cases for Legal, Sales, and Enterprise.
Get a complimentary copy of the report here.
*Gartner “Critical Capabilities for Contract Life Cycle Management” by Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, Micky Keck. 17 March, 2020.
Disclaimer: This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Agiloft.
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