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Global Contract Life-Cycle Management Market 2015-2019

About contract life cycle management (CLM)

Traditionally, contracts were documented on paper and presented for any revisions or amendments till the final version was prepared. Lawyers used to review the contracts manually, which was a time consuming and error prone process. With evolution in technology, companies started managing contracts via the electronic media. However, the electronic format of contracts have not enhanced the visibility of the contracts, resulting in poor management of those contracts. With the adoption of CLM software, companies enhanced the visibility of the contracts and, hence, were able to provide timely information to make informed decisions.

CLM software allows companies to streamline the contracting process by automating the drafting of contracts. It also helps negotiate, track, manage, and obtain optimal value from buy-side as well as sell-side contracts. Demand for CLM software comes from sectors involving complex contracts, such as the financial services, healthcare, manufacturing, and public sectors. Large enterprises as well as small enterprises in these sectors are adopting CLM software to manage their contracts.

Technavio's analysts forecast the global CLM market to grow at a CAGR of 16.35% over the period 2014-2019.

Covered in this report

The global CLM market is segmented on the basis of products and geography.

Technavio's report, Global CLM Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the landscape of the global CLM market and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.

Key vendors

  • Apttus
  • CLM Matrix
  • Exari
  • IBM Emportis
  • Oracle
  • SAP
  • Selectia
Other prominent vendors
  • BravoSolution
  • CMA Contiki
  • ESM Solutions
  • GEP
  • Great Minds Software
  • Icertis
  • Ivalua
  • OpenText
  • Optimus BT
  • Prodagio
  • Revitas
  • SciQuest
  • Symfact
Market driver
  • Reduced cycle time and cost savings
  • For a full, detailed list, view our report
Market challenge
  • Dearth of talent
  • For a full, detailed list, view our report
Market trend
  • Cloud-based CLM
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2019 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?

Press Release

Technavio Announces the Publication of its Research Report – Global Contract Life-Cycle Management (CLM) Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Contract Life-Cycle Management Market: Apttus, Exari, SAP, Oracle, SAP and Selectia
Other Prominent Vendors in the market are: BravoSolution, CMA Contiki, ESM, GEP, Great Minds, Icertis, Ivalua, OpenText, Optimus BT, Prodagio, Revitas, SciQuest and Symfact
Commenting on the report, an analyst from Technavio’s team said: “A cloud-based CLM solution offers an easy-to-use interface, which is familiar to most users. In addition, as it uses a web-enabled editor, companies can customize templates as per their requirements. These templates ensure that sales users create consistent contracts, and thus help the companies present a professional image to clients. Cloud-based CLM also enables dynamic workflow approvals. For instance, some contracts include non-standard terms and conditions. These will be automatically routed to select approvers such as legal or finance managers for further amendments. The CLM process ensures that contracts meet the required standards before coming up with the final version. Also, cloud-based CLM offers seamless integration with popular CLM systems. This allows sales users, channel partners, value-added resellers, and distributors to populate preloaded templates and generate contracts in a digital format.”
According to the report, the deployment of CLM software will enable lawyers to view documents virtually in any format, including Word, Powerpoint, image, and Excel, and pull up similar contracts from a library for reference. This is essential from the lawyers' perspective, as it reduces their review times and the contract cycle times considerably. Also, CLM solutions streamline the entire CLM process and enable companies to identify loopholes in the system, which results in huge cost savings. Based on these factors, we believe that the global CLM market will register healthy growth globally.
Further, the report states that the supply and demand gap of skilled talent is hampering the market growth.

Companies Mentioned

Apttus, Exari, SAP, Oracle, SAP, Selectia, BravoSolution, CMA Contiki, ESM, GEP, Great Minds, Icertis, Ivalua, OpenText, Optimus BT, Prodagio, Revitas, SciQuest, Symfact

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Overview: CLM
    • Market size and forecast
      • Table Global CLM Market 2014-2019 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by CLM offerings
    • Market segmentation
      • Table Market segmentation by CLM offerings 2014
    • Licensing and subscription
      • Table Global CLM market: Licensing and subscription revenue 2014-2019 ($ millions)
    • Services
      • Table Global CLM market: Services revenue 2014-2019 ($ millions)
  • Market segmentation by end user
    • End-users
  • Geographical segmentation
    • Table Geographical segmentation for 2014
    • The Americas
      • Table CLM Market in Americas 2014-2019 ($ millions)
    • EMEA
      • Table CLM market in EMEA 2014-2019 ($ millions)
    • APAC
      • Table CLM market in APAC 2014-2019 ($ millions)
  • Market drivers
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Vendor analysis
    • Other prominent vendors
  • Key vendor analysis
    • Apttus
    • CLM Matrix
    • Exari
      • Table Exari: Products
    • IBM Emptoris
      • Table IBM Emptoris: Product segmentation
    • Oracle
    • Determine (Selectica)
      • Table Determine (Selectica): Geographical segmentation by revenue 2015
    • SAP
      • Table SAP: Business segmentation by revenue 2014
      • Table SAP: Business segmentation by revenue 2013 and 2014 ($ billions)
      • Table SAP: Geographical segmentation by revenue 2014
  • Appendix
    • List of abbreviations
  • Explore Technavio

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