Ivalua Cited as a ‘Leader’ in Contract Lifecycle Management by Independent Research Firm
Scored highest in evaluation in strategy among the 8 most significant providers
Ivalua, a global leader in cloud Spend Management solutions, today announced that it has been recognized as a Leader by Forrester Research Inc. in “The Forrester Wave™: Contract Lifecycle Management for Buy-Side Contract Suites, Q4 2021.”
The report evaluated the 8 CLM providers Forrester believed to be most significant on 37 criteria and scored Ivalua as a leader based on its scores in both the current offering and strategy categories. Ivalua received the highest score of all vendors evaluated in the strategy category and the second highest in the current offering category, positioning Ivalua in the Leaders band.
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According to the report, “Ivalua competes successfully on innovation, integration, and insights.” Its “CLM platform balances ease of use with sophistication of function across the contract lifecycle.” The report also noted that “Ivalua demonstrates the strength of its current offering with features like auto contract creation with IVA, a chatbot that takes voice commands; a native authoring tool that requires no Microsoft integration; the ability to support concurrent review by locking down specific sections of the document; and native AI function to autoextract clauses and key terms from third-party contracts.”
This report continues Ivalua’s record of top analyst recognition as a spend management software leader across the source-to-pay spectrum. Most recently, Ivalua was recognized as a Leader in “The Forrester Wave™: Supplier Risk And Performance Management (SRPM) Platforms, Q3 2020” and the Gartner Magic Quadrant for Procure-to-Pay Software Suites 2020
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“Effective management of contracts is critical to business agility in times of crisis, and successful buyer-supplier relationships,” said David Khuat-Duy, Corporate CEO of Ivalua. “We are proud to be recognized as a leader in this critical area by Forrester. With Ivalua, companies don’t need to compromise between the rapid adoption that comes from a highly intuitive interface and the full value realized from robust, innovative capabilities.”
