Agiloft contract lifecycle management (CLM) suite recognized for “easy workflow configuration and extensions” by independent research firm.
Agiloft, the global standard in no-code contract and commerce lifecycle management, today announced that global research and advisory firm Forrester recognized the company as a Strong Performer in The Forrester Wave™: Contract Lifecycle Management for All Contracts, Q1 2021.
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Forrester identified the 11 top vendors in the space, researching, analyzing, and scoring their products on 32 evaluation criteria broken into three categories: current offering, strategy, and market presence.
According to the report, “Agiloft’s BPM platform supports easy workflow configuration and extensions,” wrote Andrew Bartels, Forrester VP, principal analyst, and author of the report. “Clients gave Agiloft an above-average score for usability (especially for ease of configuring workflow) …”
The report also highlights that Agiloft’s “support for buy-side and sell-side contracts is very good…On the sell side, it has integration with and emulation of Microsoft Dynamics CRM and Salesforce as well as its apps for configure-price-quote (CPQ) and related modules.”
On the technology side, Forrester advises potential CLM customers to look for “mature and well-developed AI functions” for importing and adding metadata tags to data, drafting contracts, engaging with users, and managing risk both in existing contracts and surfacing unidentified risks. Agiloft’s open AI engine uses a containerized (Docker) architecture to combine multiple ML models to give customers out-of-the-box, pre-trained AI models across common contract types that allow them to instantly reap the benefits of AI from data import and metadata tagging to risk analysis.
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“We have made big strides in the CLM space, advancing both our product strategy and market presence and are pleased to be recognized in Forrester’s list of strong performers,” said Eric Laughlin, CEO of Agiloft. “Our first round of external investment in August 2020 has helped us accelerate the development of our CLM product and we expect to release major innovations in the weeks and months ahead.”
Agiloft will host guest speaker Andrew Bartels, Forrester VP and Principal Analyst and the author of the CLM Wave report, on a webinar titled “Elevating Contracts” with Agiloft CPO Andy Wishart on March 10th at 11AM PST.
Industry awards and recognition for Agiloft have been growing steadily, including, most recently, a 2021 BIG Innovations Award for Agiloft’s AI Core as well as a Silver Stevie for AI-powered CLM from the 2020 American Business Awards. Agiloft is also ranked a leader in the 2020 Gartner Magic Quadrant for Contract Life Cycle Management, received the highest scores in every use case in the 2020 Gartner Critical Capabilities for Contract Life Cycle Management, and was named value and customer leader in Spend Matters’ Fall 2020 SolutionMap for Contract Lifecycle Management.
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