Press release
Global Contract Life-Cycle Management Market to grow at a CAGR of 16.35% over the period 2015-2019
About contract life cycle management (CLM)Traditionally, contracts were documented on paper and presented for any revisions or amendments till the final version was prepared. Lawyers used to review the contracts manually, which was a time consuming and error prone process. With evolution in technology, companies started managing contracts via the electronic media. However, the electronic format of contracts have not enhanced the visibility of the contracts, resulting in poor management of those contracts. With the adoption of CLM software, companies enhanced the visibility of the contracts and, hence, were able to provide timely information to make informed decisions.
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CLM software allows companies to streamline the contracting process by automating the drafting of contracts. It also helps negotiate, track, manage, and obtain optimal value from buy-side as well as sell-side contracts. Demand for CLM software comes from sectors involving complex contracts, such as the financial services, healthcare, manufacturing, and public sectors. Large enterprises as well as small enterprises in these sectors are adopting CLM software to manage their contracts.
Technavio's analysts forecast the global CLM market to grow at a CAGR of 16.35% over the period 2014-2019.
Covered in this report
The global CLM market is segmented on the basis of products and geography.
Technavio's report, Global CLM Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the landscape of the global CLM market and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.
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Key vendors
• Apttus
• CLM Matrix
• Exari
• IBM Emportis
• Oracle
• SAP
• Selectia
Other prominent vendors
• BravoSolution
• CMA Contiki
• ESM Solutions
• GEP
• Great Minds Software
• Icertis
• Ivalua
• OpenText
• Optimus BT
• Prodagio
• Revitas
• SciQuest
• Symfact
Market driver
• Reduced cycle time and cost savings
• For a full, detailed list, view our report
Market challenge
• Dearth of talent
• For a full, detailed list, view our report
Market trend
• Cloud-based CLM
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2019 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
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