SPARK Matrix™: Contract Lifecycle Management (CLM), Q3, 2024

QKS Group defines Contract Lifecycle Management (CLM) as “software that automates and streamlines the end-to-end contract lifecycle from creation, negotiation, approval, execution, analysis, & compliance to renewal & expiry. The CLM software also provides a centralized contract repository for all types of contracts & agreements, such as contracts from vendors, business partners, customers, and employees.” The CLM software often stores supplier data, contract terms, negotiated prices, and other information to provide centralized visibility, enabling companies to execute contractual agreements faster and more efficiently. It helps the organization minimize administration costs and improve contractual performance, operational efficiency, and regulatory compliance.

QKS Group’s Contract Lifecycle Management (CLM) market research includes a detailed global market analysis of major vendors. The research comprises vendors’ product features and functionalities and competitive differentiating factors. The research provides competitive landscape and vendor analysis to enable technology vendors to enhance their understanding of the market and implement a growth-oriented technical roadmap.

The research includes detailed competition analysis and vendor evaluation with the proprietary SPARK Matrix analysis. SPARK Matrix includes the ranking and positioning of the leading Contract Lifecycle Management (CLM) vendors with a global impact. SPARK Matrix also includes an analysis of vendors, including Agiloft, CobbleStone Software, Conga, ContractPodAi, Coupa, DocuSign, Evisort, GEP, Icertis, Ironclad, Ivalua, JAGGAER, SirionLabs, SAP Ariba, Scanmarket (Unit 4), and Zycus

According to Akshat Shah, Analyst at QKS Group, “Contract Lifecycle Management (CLM) has progressed significantly to cope with business-critical scenarios. They include automation, advanced analytics, and artificial intelligence (AI) capabilities to enhance contracting performance, minimize risks, and reduce administration costs. These growing technological advancements are ushering in complete digitalization of the contracting processes, enabling organizations to achieve higher operational efficiency. CLM evolved from an operational contract repository system to a system that manages contracts for audit, legal, and compliance purposes. It then evolved into a strategic investment for improving contract performance and minimizing business risks across an enterprise environment.”

2024 Contract Lifecycle Management SPARK Matrix

Source: QKS Group

Table of Contents

Executive Overview

Market Dynamics and Overview

• Market Definition
• Market Overview
• Key Contract Lifecycle Management capabilities

Competition Landscape and Analysis 

• Competitive Overview and Analysis
• Factors and Technology Differentiators

SPARK Matrix™: Contract Lifecycle Management (CLM), Q3, 2024

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