AI-enabled Apttus CLM platform is recognized for the strong performance across performance parameters of the technology excellence and customer impact in the SPARK Matrix Analysis
Apttus, the leading provider of AI-enabled enterprise contract management, announced it has been named a technology leader in the SPARK Matrix analysis of the global contract lifecycle management (CLM) market by Quadrant Knowledge Solutions.
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Contract management is evolving from the use of an operational contract repository system that manages contracts for audit, legal, and compliance purposes to a strategic investment for improving contract performance and minimizing business risks across an enterprise environment, according to Quadrant Knowledge Solutions’ Market Outlook: Contract Lifecycle Management (CLM), 2019-2024, Worldwide. The CLM application’s value proposition of automating the contracting processes is driving market growth across the geographical regions and industry segments. A centralized repository that includes consistent metadata tagging of contract terms and conditions, collaboration portals, negotiation intelligence, and contract analytics optimizes contract performance, improves compliance, and minimizes administration costs.
The SPARK Matrix evaluation examined the performance of thirteen vendors, including Apttus, in the categories of technology excellence and customer impact. Performance in technology excellence was measured by several parameters, like the sophistication of technology, technology application diversity, scalability, competitive differentiation, and industry impact. Customer impact was measured by factors such as addressing unmet needs, product performance, ease of deployment, and customer service excellence.
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“Apttus has been positioned amongst the top three technology leaders after receiving strong overall ratings across the performance parameters of technology excellence and the customer impact of its comprehensive end-to-end Apttus CLM platform,” said Akshaysingh Chandel, Analyst at Quadrant Knowledge Solutions. “Apttus’ comprehensive technology value proposition across contract creation, repository, and analytics is well recognized to deliver strong customer ownership experience, especially to mid-market to large enterprise organizations across industries.”
“We are honored to be recognized by Quadrant Knowledge Solutions as a technology leader for global contract lifecycle management,” said Frank Holland, CEO of Apttus. “Our goal is to optimize contract lifecycle processes using robust AI and machine learning capabilities to ensure our customers are using the most effective and efficient solution for their legal needs.”
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