target audience: TECH BUYER Publication date: Nov 2021 - Document type: IDC MarketScape - Doc Document number: # US46965921
IDC MarketScape: Worldwide Contract Life-Cycle Management Software for Corporate Legal 2021 Vendor Assessment
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Abstract
This IDC study represents a vendor assessment of providers offering contract life-cycle management software for corporate legal through the IDC MarketScape model. The assessment reviews both quantitative and qualitative characteristics that define current market demands and expected buyer needs for contract life-cycle management for corporate legal. The evaluation is based on a comprehensive and rigorous framework that assesses how each vendor stacks up, and the framework highlights the key factors that are expected to be the most significant for achieving success in the CLM software market over the short term and long term.
"Legal buyers should ensure that the technology meets their needs and is not too heavily focused on the needs of the other departments. Many CLM providers often add functionality for legal as an afterthought. CLM needs to be a team effort, but legal buyers need to make sure that their needs are met. CLM is a key part of the overall operationalization of legal." — Ryan O'Leary, research manager, Privacy and Legal Technology at IDC