Gartner Magic Quadrant for Contract Lifecycle Management (CLM)

The Gartner Magic Quadrant for Contract Lifecycle Management (CLM) is an Gartner Magic Quadrant research report for a Contract Lifecycle Management (CLM) Market.

• Context:
  • It can (typically) classify CLM vendors into four quadrants: Leaders, Challengers, Visionaries, and Niche Players.
  • ...
  • It can be based on a rigorous set of criteria, including product functionality, market presence, customer satisfaction, and innovation.
  • It can be a critical resource for IT and legal professionals involved in the selection and implementation of CLM systems.
  • ...
• Example(s):
  • The Gartner Magic Quadrant for Contract Lifecycle Management (CLM), 2023, which placed Icertis CLM, DocuSign CLM, and SirionLabs CLM as Leaders, with ContractPodAi recognized as a Visionary.
  • The Gartner Magic Quadrant for Contract Lifecycle Management (CLM), 2022, which positioned DocuSign CLM, Icertis CLM, and SirionLabs CLM as Leaders, highlighting DocuSign's integrations with Salesforce and its advancements in AI-driven contract analytics.
  • The Gartner Magic Quadrant for Contract Lifecycle Management (CLM), 2021, where DocuSign CLM, Icertis CLM, and Conga CLM were recognized as Leaders, emphasizing the growing importance of CLM in digital transformation.
  • The Gartner Magic Quadrant for Contract Lifecycle Management (CLM), 2020, which recognized Icertis CLM, DocuSign CLM, and Agiloft CLM as Leaders, marking a pivotal year for AI and automation in CLM solutions.
  • ...
• Counter-Example(s):
  • A Forrester Wave Report that evaluates CLM vendors but uses different criteria and a distinct methodology.
  • An IDC MarketScape report, which offers a similar vendor assessment but through a different analytical framework.
• See: Gartner Magic Quadrant Report, Contract Lifecycle Management (CLM), Gartner Hype Cycle, Contract Workflow Management (CLM) Platform.

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References

2024

• Perplexity
  • The Gartner Magic Quadrant for Contract Lifecycle Management (CLM) is a comprehensive research tool that provides a graphical competitive positioning of technology providers in the CLM market[1]. This report is designed to help organizations make informed decisions when selecting CLM solutions for their business needs.
  • Key Features of the Gartner Magic Quadrant for CLM: The Magic Quadrant evaluates CLM vendors based on two primary criteria:
    1. **Ability to Execute**: This assesses the vendor's capability to deliver on their vision and meet market demands.
    2. **Completeness of Vision**: This evaluates the vendor's understanding of market trends and their strategic approach to addressing future needs.
  • Based on these criteria, vendors are positioned in one of four quadrants: Leaders, Challengers, Visionaries, and Niche Players[4].
  • Significance and Usage: The Gartner Magic Quadrant for CLM serves several important purposes:
    1. **Market Analysis**: It provides a comprehensive evaluation of the CLM market, typically analyzing 16 providers of CLM software[2].
    2. **Decision Support**: Organizations use this report as an essential tool when evaluating CLM solutions for their business[2].
    3. **Vendor Comparison**: It allows for easy comparison of different CLM vendors' strengths and capabilities.
    4. **Industry Recognition**: Being named a Leader in the Magic Quadrant is considered a significant achievement for CLM vendors[5].
  • Annual Updates: The Magic Quadrant for CLM is updated annually to reflect changes in the market and ensure its relevance. For example, the 2023 edition is the fourth consecutive year that Gartner has produced this specific Magic Quadrant[2][5].
  • Evaluation Criteria: While the specific criteria may vary, the Magic Quadrant typically considers factors such as:
    • Product functionality
    • Market presence
    • Customer satisfaction
    • Innovation
    • Regulatory compliance capabilities
    • Authoring, negotiation, and signoff cycle times[3]
  • It's important to note that Gartner's research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact[5]. Organizations are advised to use this tool in conjunction with other resources when making CLM purchasing decisions.
  • Citations:

[1] https://www.gartner.com/en/documents/4852531
[2] https://www.icertis.com/research/analyst-reports/gartner-magic-quadrant/
[3] https://www.gartner.com/en/documents/4001421
[4] https://contractpodai.com/news/contractpodai-named-visionary-2023-gartner-magic-quadrant-contract-lifecycle-management/
[5] https://www.docusign.com/gartner-magic-quadrant-contract-lifecycle-management
[6] https://www.gartner.com/reviews/market/contract-life-cycle-management 

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