Contract lifecycle management (CSM) automates the drafting, negotiating, tracking and managing of contracts, in order to streamline the entire process.
The market was valued at $611 million in 2014, and is expected to reach $1.30 billion by 2019, growing at a CAGR of 16.35%.
Technavio analysts have identified 20 key players that are expected to make waves in the global contract lifecycle management market through the forecast period:
Apttus
Apttus delivers Software as a Service (SaaS) applications, allowing you to rapidly and simply deploy enterprise class applications. The functionality allows you to gain complete visibility and end to end management of your business function. The Suites are “out of the box” allowing for extremely rapid deployment. Additionally, configuration tools allow for fast and easy extensibility. You can begin to use the applications immediately, but can change them as you learn more about what you need.
BravoSolution
BravoSolution is a leading global strategic procurement solution provider. BravoSolution is trusted by many of the world’s largest and most successful companies, and recognized by key industry influencers as one of the top integrated procurement suites available today. Our collaborative procurement technology platform, BravoAdvantage, integrates supplier lifetime value at every stage of the procurement process to improve strategic business decisions. It delivers an advanced, transformational and proven approach which provides our customers with a measurable advantage over their competitors. Our long standing commitment to customer satisfaction is evidenced by the fact that we have enabled BravoSolution customers in more than 600 companies, in over 70 countries, unlock the power of procurement to drive financial performance, build procurement organizational excellence, manage risk, and influence innovation.
CLM Matrix
Now in its 8th major release, CLM Matrix best practice software tools enable organizations to increase process efficiency and recapture lost profits while driving revenue velocity. By continually staying at the forefront of emerging technologies, CLM Matrix delivers the most cost effective business critical solutions demanded by today’s challenging business environment.
CMA Contiki
Established in 1989, CMA Contiki is Europe’s leading Enterprise Contract Lifecycle Management (ECM) software vendor and the world’s leading ECM software provider to the Oil & Gas/Energy industries. The Contiki ECM application is being used in more than 60 enterprises in more than 50 countries in a broad range of industries, including: Oil & Gas, Energy & Utilities, Finance, Engineering, and the Service and Public sector.
ESM Solutions
ESM Solutions is a leading provider of cloud-based eProcurement and spend management solutions, offering sourcing, purchasing, invoicing, analytics, and contract management applications. Our fully integrated business automation solutions are tailored to help you manage your organization’s spend and leverage your business practices.
Exari
As a global leader in Contract Lifecycle Management (CLM) solutions, we give companies around the world the ability to automatically assemble contracts, track every contract in their organization, and analyze those contracts to ensure compliance and enhance revenues. Our powerful technology is the most flexible CLM system anywhere in the world.
GEP
GEP provides CLM software for sourcing management.
Great Minds Software
Great Minds Software, Inc. (GMS) is a leading supplier of contract management solutions since 1989, with over 500 implementations and 10,000+ users worldwide. We are a privately held professional services, software consulting and contract management software company. We offer both off-the-shelf solutions as well as semi-customized solutions based on our core product. The Contract Advantage™ product line is offered in a range of scalable versions, from small Departmental systems to client-server and Enterprise-class web-enabled applications. We offer both installed systems and hosted solutions.
IBM Emptoris
Emptoris®, a leading provider of strategic supply, category spend and contract management solutions, is now part of IBM®. IBM Emptoris Strategic Supply Management solutions help procurement organizations improve performance, capture sustainable cost savings, mitigate risks, improve compliance and directly impact financial performance.
Icertis
“Of all the vendors we evaluated, the Icertis CLM product had the best architecture, the most inspired user interface, and a compelling and innovative approach to managing the contract lifecycle process. We have deployed the product globally, including in India, with great user adoption and high satisfaction.” – Michel Gahard, Associate GC & GM, Microsoft
Icertis Contract Management (ICM) is an innovative, easy-to-use platform that is highly configurable and continually adapts to complex business needs. With its intelligent workflow and built-in analytics, ICM provides ongoing contractual insights and best-of-breed contract management. ICM enables customers to increase compliance, improve governance, mitigate risk, and enhance user productivity, thereby maximizing ROI and accelerating time to value across the global enterprise.
Ivalua
Ivalua provides a unique technology experience and highly differentiated value proposition to Procurement and Finance organizations looking to bring more spend under management and achieve a lower total cost of ownership.
Ivalua is a global provider of spend management solutions and a leader in Gartner’s 2015 Strategic Sourcing Magic Quadrant. Ivalua’s cloud-based software is used by procurement and finance organizations in large, global companies, and every day more than 500,000 users and millions of suppliers from over 70 countries log into the Ivalua platform.
Ivalua offers a single platform solution with highly configurable functionality across all major procurement and finance processes, including performance and risk tracking, sourcing, contracts, procure to pay, invoice automation and analytics. The breadth and flexibility of Ivalua’s offering accelerates user adoption, spend category coverage and bottom-line savings.
OpenText
OpenText provides enterprise information management. The company announced a new contract management solution to automate contract related tasks in March, 2015.
Optimus BT
Optimus BT is a dynamic organization building a generation of enterprise business applications for leading enterprise platforms like Office 365 and SharePoint that enable businesses to automate processes, gain insight, manage workflow and personalize business processes across the enterprise.
Oracle
Contract Lifecycle Management (CLM) is a fully integrated procure-to-pay system. It provides automated and auditable processes from PR Generation through solicitation to entitlement to payments. With an integrated view of finance, acquisition, and supply it facilitates the ultimate closeout of the award. It was designed with the intent to help government organizations to achieve business efficiency by transitioning from disconnected operations, characterized by stove-piped systems, to ones that are cost effective and executed in the fewest steps possible. CLM enables business process standardization, and because it is an integrated with E-Business Suite Financials and Advanced Procurement and is designed with funds control and auditability in mind.
Prodagio
Prodagio’s products enable operational and strategic excellence for two of the most important back-office functions in any company, contracts and payables. Our motivation is to make our customers the most well-run operation in their respective organizations. Whether it’s a legal department pushing for adoption of contracting best practices or a finance department driving accounts payable to be best-in-class, Prodagio and our solutions will be there to help.
Revitas
Revitas helps organizations accelerate revenue through diverse, multi-level sales channels, by delivering enterprise-class solutions that tailor channel management and contract management to the needs of the business. For over 25 years, Revitas has enabled companies in the most challenging, channel-intensive industries to achieve best-in-class performance and sustainable competitive advantage.
SAP
Our contract lifecycle management software supports your entire contract lifecycle – from contract creation through renewals. Get a better handle on your contract creation process, repository and compliance by addressing issues such as inconsistent language, incomplete approvals, long contract completion cycles, limited visibility, and non-compliance.
SciQuest
SciQuest (Nasdaq: SQI) spend management solutions enable procurement, sourcing and financial professionals to focus on strategic decisions that transform business processes. Our feature-rich products and expert services help hundreds of organizations, including leading global companies, drive bottom line results by improving, automating and optimizing their source-to-settle processes. To join the conversation, please visit our blog at http://www.sciquest.com/blog or follow us on Twitter @SciQuest.
Selectica
Selectica is a global provider of SaaS contract management and end-to-end source-to-pay supply management software solutions. As a recognized leader in the industry, Selectica provides deep innovative capabilities in Enterprise Contract Management, Strategic Sourcing, eProcurement, eSourcing, Spend Analysis, and Procure-to-Pay. Since 1996, Selectica has helped global companies actively manage their contracts throughout the sales, procurement, and legal life cycle. Selectica’s contract lifecycle management, strategic sourcing, and procure-to-pay software solutions drive critical operational business value that effectively accelerate revenue opportunities and minimizing risk through compliance. A recognized leader in the industry, our patented technology assists customers across a myriad of industries—including high-tech, telecommunications, manufacturing, healthcare, and financial services. Selectica also provides a powerful configuration engine, which Fortune 500 companies use to increase revenue by facilitating the right combination of products, services and price.
Symfact
Symfact provides Contract Management and Compliance Management Solutions, enabling enterprise customers around the world to maximize revenues, minimize costs and actively manage contractual terms and risks, all on a single technology platform.
As enterprises grow and change, the Symfact platform easily scales from departmental to enterprise implementations. In addition, Symfact solutions are readily configured to the enterprise’s business processes and integrated with required IT infrastructure.
Unlike the previous generation of hardcoded, rigidly-defined solutions, the Symfact Contract and Compliance Product Suite is built to support and leverage the latest international document and open technology standards.
