PUBLISHER: QKS Group | PRODUCT CODE: 1637586
PUBLISHER: QKS Group | PRODUCT CODE: 1637586
This product includes two reports: Market Share and Market Forecast.
QKS Group Reveals that Buy Side-Contract Lifecycle Management (CLM) Market is Projected to Register a CAGR of 12.30% by 2028.
The Buy Side-Contract Lifecycle Management (CLM) application's value proposition of automating the contracting processes along with providing a centralized repository with consistent metadata tagging of contract terms & conditions, collaboration portal, negotiation intelligence, and contract analytics to optimize contract performance, improve compliance, and minimize administration costs are driving the market growth across the geographical regions and industry segments. Contract lifecycle management is evolving from an operational contract repository system to manage contracts for audit, legal, and compliance purposes, to a strategic investment for improving contract performance and minimizing business risks across an enterprise environment. Organizations are increasingly integrating CLM with their sourcing, procurement, CRM, ERP, e-signature, and other systems to enhance the performance of operational, financial, and risk management processes.
Quadrant Knowledge Solutions defines Contract Lifecycle Management (CLM) as software that automates and streamlines the end-to-end contract lifecycle from creation, negotiation, approval, execution, analysis, and compliance to renewal/expiry. The CLM software also provides a centralized contract repository for all types of contracts and agreements, including contracts from vendors, business partners, customers, employees, and others. The CLM software often stores supplier data, contract terms, negotiated prices, and other information to provide centralized visibility, enabling companies to execute contractual agreements faster and more efficiently. The CLM software helps the organization minimize administration costs and improve contractual performance, operational efficiency, and regulatory compliance.
QKS Group Reveals that Buy Side-Contract lifecycle management (CLM) Market is Projected to Register a CAGR of 12.30% by 2028.
The Buy Side-Contract Lifecycle Management (CLM) application's value proposition of automating the contracting processes along with providing a centralized repository with consistent metadata tagging of contract terms & conditions, collaboration portal, negotiation intelligence, and contract analytics to optimize contract performance, improve compliance, and minimize administration costs are driving the market growth across the geographical regions and industry segments. Contract lifecycle management is evolving from an operational contract repository system to manage contracts for audit, legal, and compliance purposes, to a strategic investment for improving contract performance and minimizing business risks across an enterprise environment. Organizations are increasingly integrating CLM with their sourcing, procurement, CRM, ERP, e-signature, and other systems to enhance the performance of operational, financial, and risk management processes.