Contract Life-Cycle Management Market to grow at a CAGR of 16.35 % over the period 2014-2019 : Radiant Insights , Inc
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 sellside 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 .
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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 .
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