Inaugural Report Places Company Highest for Its Ability to Execute, and Recognizes the Company for Its Completeness of Vision
Following its acquisition of contract lifecycle management (CLM) provider SpringCM in 2018 and the subsequent launch of its flagship DocuSign CLM solution, DocuSign was named by Gartner, Inc. as a Leader in the 2020 “Magic Quadrant for Contract Lifecycle Management”1 research report.
DocuSign placed highest for its ability to execute and was also recognized for its completeness of vision.
This is the first time that Gartner has released a Magic Quadrant report for the CLM category, with 12 vendors rigorously evaluated across 15 criteria.
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This news reflects the increasing importance that mid-market and enterprise organizations are placing on managing the lifecycle of their contracts. DocuSign believes it is also another milestone in the company’s delivery on its Agreement Cloud strategy—that is, its ability to offer a broad suite of solutions that help customers around the world to prepare, sign, act-on and manage the agreements that are the very foundation of their business.
According to Gartner, “CLM solutions are software, installed on-premises or delivered as a service, that proactively manages contracts from initiation through award, compliance and renewal … CLM spans all processes associated with the life cycle of every contractual agreement … Following a discovery, uploading and extraction phase, the CLM workflow begins with a request and continues through the stages of authoring; redlining (negotiation); approval; execution; billing/fulfillment compliance; obligation management, auditing, monitoring and reporting; amendment, closure and renewal; and eventual archiving.”
“Since announcing the DocuSign Agreement Cloud almost a year ago, we have worked tirelessly to ensure that our CLM solution offering is best-in-class,” said Scott Olrich, chief operating officer at DocuSign. “We have also listened closely to our customers so we can deliver solutions to their CLM challenges. We’re proud that Gartner has named DocuSign a Leader in this Magic Quadrant and believe that the positioning reflects our commitment to CLM as a pillar product in the DocuSign Agreement Cloud.”
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To be a Leader, “Leaders are in the strongest position to influence the market’s growth and direction. They demonstrate a market-defining vision of how CLM technology can help companies achieve business objectives for managing compliance and reducing process bottlenecks. Leaders have the ability to execute against that vision through products and services and have demonstrated business results in the form of revenue and earnings. They excel in their combination of market understanding, innovation, product features and functions, and overall viability. While maintaining a well-established base of long-term customers, Leaders show a consistent ability to win new deals with successful implementations. Their customers are deployed in the largest number of geographic regions and cover a wide variety of industry verticals and sizes of organization. Leaders are often the vendors that other providers measure themselves against.”
1Source: Gartner, Inc. “Magic Quadrant for Contract Lifecycle Management,” Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, Micky Keck, 25 February 2020. The company is listed as DocuSign (SpringCM) in the report since DocuSign acquired SpringCM in September 2018.
2Source: Gartner, Inc. “Market Guide for Contract Life Cycle Management,” Kaitlynn Sommers, Patrick Connaughton, 17 December 2018.
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