Not three, not four, but FIVE years in a row! Agiloft, the global standard for data-first Contract Life Cycle Management, has been named a Leader in the Gartner® Magic Quadrant™ for Contract Life Cycle Management for the fifth consecutive year. Read on to learn more about the Magic Quadrant for CLM and why Agiloft is recognized as a Leader.
Why has Agiloft been named a Leader?
According to Gartner, “Leaders are in the strongest position to influence the market’s growth and direction. They demonstrate a market-defining vision for how CLM technology can help companies achieve the business objectives of managing compliance and reducing process bottlenecks. Leaders can execute against that vision through products and services and have demonstrated business results in the form of revenue and earnings. They excel in their combination of market understanding, innovation, product features and functions, and overall viability.
While maintaining a well-established base of long-term customers, Leaders show a consistent ability to win new deals. They have customers in many geographic regions, cover a wide variety of industries and serve customer organizations of a range of sizes. Leaders are often the vendors that other providers measure themselves against.”
Agiloft believes this Leader recognition is the result of consistent hard work and a steadfast commitment to customer success, said Agiloft CEO Eric Laughlin.
“To us, it’s a huge acknowledgment of the hard work our team puts in and the trust our customers place in us,” Eric said. “We’re always striving to make contract management easier and more powerful for businesses, and this recognition pushes us to keep going to help more organizations agree and thrive.”
What is the Gartner® Magic Quadrant™ for CLM?
The Magic Quadrant is split into four quadrants:
- Leaders – These companies execute comparatively well and are well positioned for tomorrow.
- Visionaries – These vendors understand where the market is going or have a vision for changing market rules, but do not yet execute well or do so inconsistently.
- Niche Players – This category of businesses either focus successfully on a small segment or are unfocused and do not out-innovate or outperform others.
- Challengers – These companies execute well today or may dominate a large segment, but do not demonstrate an understanding of market direction.” 1
More innovation at Agiloft
To us, the Gartner recognition is only one of many exciting things happening at Agiloft. We’ve been busy at work growing our team, recently adding to the roster VP of Global Alliances Aaron Koenderman.
Additionally, this April, Agiloft was thrilled to announce a new partnership with Oracle, delivering seamless, end-to-end workflows that integrate contracts into all systems and records, including CLM. The partnership brings many benefits to organizations, including risk mitigation, enhanced decision-making, and improved efficiencies. Now, Oracle customers can now access Agiloft’s top-tier functionality, ensuring their contract management needs are met with precision and expertise. This collaboration is not just about software; it’s about creating an ecosystem where contracts are no longer static documents, but dynamic assets that drive business growth.
And if Agiloft’s CLM solutions weren’t convenient enough all on their own, this May we also announced an industry-leading new solution, our Generative AI (GenAI) Prompt Lab. With Prompt Lab, you can use public or private large language models (LLMs) to boost any contract data in your Agiloft setup. It’s the first time you get organization-specific AI features for every stage of the contract management process, truly enabling you to do AI your way.
In the market for a new CLM solution? Grab a copy of the report here and learn why Agiloft has been named a Leader for the fifth year in a row.
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Gartner disclaimer:
Gartner “Magic Quadrant for Contract Life Cycle Management” by Kaitlynn Sommers, Lynne Phelan, Kerrie McDonald. October 14, 2024.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
1 – Gartner Methodologies, “Magic Quadrant,” https://www.gartner.com/en/research/methodologies/magic-quadrants-research
Published October 24, 2024.
