PUBLISHER: QKS Group | PRODUCT CODE: 1637592
PUBLISHER: QKS Group | PRODUCT CODE: 1637592
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 above average by 2028 in China.
China is expected to see above-average growth in the Buy Side-Contract Lifecycle Management (CLM) market by 2028. The country's rapid economic growth, coupled with its aggressive digital transformation initiatives, is driving the demand for advanced CLM solutions. Chinese enterprises are increasingly recognizing the importance of efficient contract management to maintain compliance, mitigate risks, and streamline operations. The government's supportive policies and investments in digital infrastructure further bolster this trend. Consequently, the Chinese market is witnessing heightened interest and investment in CLM solutions, positioning it for robust growth in the coming years.
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 above average by 2028 in China.
The future of the Buy Side-Contract Lifecycle Management (CLM) market in China looks bright, with continued digital adoption and technological advancements. Cloud-based CLM solutions will become increasingly popular due to their scalability and cost-effectiveness, catering to the diverse business landscape in the country. The integration of AI, ML, and blockchain technologies will further enhance contract management processes, providing better insights, automating routine tasks, and ensuring data security. As Chinese businesses strive to remain competitive and compliant, the demand for sophisticated and scalable CLM solutions will drive sustained market growth and innovation.
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.