Leading Procurement Analyst Firm conducts in depth review of ContractAI
App Orchid, a leading enterprise AI platform company announced that it received its first in-depth analyst coverage for ContractAI, a fast-growing AI-powered contract management tool in the CLM (Contract Lifecycle Management) space that leverages AI to transform the contracting process, dramatically improving the analysis, creation and negotiation of contracts.
Spend Matters, a leading procurement analyst firm conducted an extensive profile of ContractAI which included product analysis and voice of customer studies. Spend Matters assessed solution and technology capabilities in context of the CLM market today. Built on App Orchid’s enterprise AI platform, ContractAI was recognized by Spend Matters as having the most sophisticated AI model as compared to its peers.
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“We are thrilled to be a part of Spend Matters’ analyst coverage. Spend Matters has been the leading source for procurement solutions intelligence. The positive feedback for ContractAI is a huge testament to our amazing team that has built this truly transformative solution on our enterprise AI platform,” says App Orchid’s chief executive officer, Vaibhav Nadgauda.
“The time since its initial conception and pilot has been only a couple of years, and in that time, it has managed to produce a respectable set of customer references,” said Nick Heinzmann, Research Analyst, Spend Matters. “It would seem the solution is well-positioned to address a key procurement pain point readily — if it can more deeply break into an already highly competitive CLM market with a lot of “noise” about the promise of AI. ContractAI certainly has the technical bona fides to do so.”
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