REDWOOD CITY, Calif., June 24, 2021 /PRNewswire/ -- Agiloft, the global standard in no-code contract and commerce lifecycle management (CLM), today announced its recognition as a top vendor for the second year in a row in the 2021 Gartner Critical Capabilities for Contract Life Cycle Management.* This year, 13 vendors were evaluated by research and advisory firm Gartner and Agiloft once again ranked among the top across all four use cases identified in the CLM analysis: Procurement, Sales, Legal, and Enterprise. Get a complimentary copy of the report here.

As the second Critical Capabilities report for contract life cycle management produced by Gartner, this is an essential companion to the 2021 Gartner Magic Quadrant for Contract Life Cycle Management, in which Agiloft was recognized as a Leader. The 2021 Gartner Critical Capabilities report provides deeper analysis into each provider's products and service offerings to determine which are a best fit for the most common contract management use cases.

Based on research that includes product demonstrations, vendor surveys, verified customer feedback from Gartner Peer Insights, and interacting with key industry contacts as well as end users, Gartner rigorously analyzed the leading usage scenarios for the products or services in the market, then identified and compared the most critical capabilities to help create a vendor shortlist for evaluation.

For its analysis of CLM, Gartner identified four use cases—Procurement, Sales, Legal, and Enterprise—with 12 critical capabilities. Agiloft scored consistently well across all use cases, receiving highest scores for requesting a contract, running standard reports, and enabling sales workflows.

As stated in the Gartner report, "Contract life cycle management (CLM) continues to be a high priority technology investment for midsize and large enterprise organizations. Gartner experienced a 40% increase in CLM inquiry volume in 2020 in the midst of a global pandemic." The report also states, "Application leaders responsible for CLM can use this research to differentiate between vendor capabilities and shortlist vendors most suitable for their organizational needs."

"We are thrilled to be ranked again as one of the top vendors in the Gartner Critical Capabilities report," said Eric Laughlin, Agiloft CEO. "CLM is increasingly being viewed as pivotal in helping businesses across industries increase sales, drive efficiencies, and reduce security and compliance risk. We believe the unmatched configurability of our user-friendly platform is the differentiator for businesses dedicated to digitizing contracts, while our continuous product development and commitment to implementation success ensure long-lasting satisfaction for our customers."

As the only no-code CLM platform that also provides open AI capabilities, Agiloft integrates with enterprise systems and is easily extensible to the commercial processes adjacent to contracts, allowing organizations to simplify the intake and organization of existing contracts and to customize the most complex workflows—all without writing a single line of code.

To learn more about Agiloft's Contract Management Suite, please visit the product information page.

For a complimentary copy of the Gartner Critical Capabilities report, click here.

*Gartner "Critical Capabilities for Contract Lifestyle Management," by Kaitlynn Sommers, Patrick Connaughton, Marko Sillanpaa, Jim Murphy, 14 June 2021.

Gartner Disclaimer

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.

About Agiloft

As the global leader in agile contract lifecycle management 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.  

Media Contact:
Jeffrey Miesbauer
Agiloft
650-587-8615 ext 4003

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SOURCE Agiloft