Agiloft Named a Leader in IDC MarketScape: Worldwide Contract Life-Cycle Management Software for Corporate Legal 2021 Vendor Assessment
REDWOOD CITY, Calif., Nov. 8, 2021 /PRNewswire/ — Agiloft, the global standard in no-code contract lifecycle management (CLM), today announced it has been positioned as a leader in the IDC MarketScape: Worldwide Contract Life-Cycle Management Software for Corporate Legal 2021 Vendor Assessment.
This IDC MarketScape assessment covers major vendors participating in the worldwide CLM market with a focus on functionality for the corporate legal department. Based on a comprehensive and rigorous framework, the report identifies the key software factors that are expected to be the most significant for achieving success over the short term and long term, dividing them into capabilities and strategies. Both quantitative and qualitative characteristics are assessed according to user interviews, buyer surveys, and the input of IDC experts.
Agiloft scored on the top end for both its capabilities and strategies and was also recognized for the customization capabilities of its no-code platform, which allows users to easily configure their Agiloft functionality without the need of a service provider. The authors also highlighted Agiloft’s data-centric approach that provides a holistic view of each contract, enabling the relationships that exist between the contract record and other important associated assets to provide a bigger picture. Customers indicated that they were able to more easily identify and track obligations, measure and track risks, and implement improvements to optimize the contract lifecycle process, while the data insights gave them the tools needed to improve their CLM maturity.
“We are excited to rank as a leader in the IDC MarketScape for 2021,” said Eric Laughlin, Agiloft CEO. “The data in contracts is the DNA of a business. Delivering insights to legal departments based on that data is a key advantage of the Agiloft platform and we’re pleased that IDC recognized that. Our no-code platform continues to stand out for its ease of use and ability to organize the most complex workflows.”
Contract lifecycle management helps businesses drive long-term revenue growth, maintain cost discipline, and reduce security and compliance risk by managing the commercial processes that surround contracts. With its robust AI capabilities, Agiloft’s user-friendly CLM platform offers unmatched possibilities for the configuration and automation of the complex contract and commercial workflows—from one-click creation of proposals and agreements to tracking performance obligations, contract expirations, and invoicing. Through its recent product integrations, Agiloft is easier than ever to use across the enterprise, enabling teams to easily work and collaborate on contracts from within their established applications and ecosystems.
This announcement follows on the heels of other significant recognitions. Most recently, Agiloft was ranked a top vendor in 2021 Gartner Critical Capabilities for CLM, as well as being named a leader in Gartner 2021 Magic Quadrant for Contract Life Cycle Management. Agiloft also received a 2021 BIG Innovations Award and a Silver Stevie in the 2020 American Business Awards, and was named value and customer leader in Spend Matters’ Fall 2021 SolutionMap for CLM.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,100 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company.
As the global leader in contract lifecycle management (CLM) software, Agiloft is trusted to provide significant savings in purchasing, enable more efficient legal operations, and accelerate sales cycles, all while drastically lowering compliance risk. Agiloft’s adaptable no-code platform ensures rapid deployment and a fully extensible system. Using contracts as the core system of commercial record, Agiloft’s CLM software leverages AI to improve contract management for legal departments, procurement, and sales operations. Visit www.agiloft.com for more information.
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