Read Gartner’s 2020 Magic Quadrant for Contract Lifecycle Management to find out how Conga’s solution performed—and why we’ve been recognized as a Challenger.
Inaugural report recognizes Conga among 12 total vendors for completeness of vision and ability to execute
Today we are proud to announce that Conga has been named a Challenger in Gartner’s Magic Quadrant for Contract Lifecycle Management.*
Gartner Magic Quadrants evaluates vendors within a given market according to their ability to execute and the completeness of their vision. The evaluation includes more than 15 criteria, and includes factors like Product/Service, Overall Viability, Market Responsiveness, and Customer Experience.
We were one of 12 vendors evaluated in the space, and were placed in the Challenger Quadrant because of our ability to execute, according to the report.
It is our belief that we were named a Magic Quadrant Challenger because our CLM products are easy to implement, integrate, and customize, allowing our customers to create value more quickly for their organizations.
We believe our focus on the customer, and creating a tool that is primarily designed on customer success, came through in Gartner’s evaluation. Our focus is on execution so we can get customers what they need, when they need it. We know that providing the fastest time-to-value gets our customers the greatest good from their CLM implementation—fast. When customers choose Conga, they get to that ROI more quickly than with any other platform or vendor.
Why does CLM matter?
So why does time to value matter when it comes to CLM (contract lifecycle management)? The legal documents that affect organizations set the terms of nearly every business relationship, so nothing is more critical to how well—and how quickly—organizations can get things done, while also maintaining legal safeguards and protecting against risk.
As technologies continue to evolve, becoming ever more effective and intelligent, contract life cycle management technologies will continue to evolve as well. The Gartner Magic Quadrant report projects that, “by 2023, artificial intelligence (AI) will enable 30% faster contract negotiation and document completion processes in organizations that deploy leading CLM solutions.”
That’s a big number. We believe, accelerated contract lifecycles can affect multiple parts of a business, from sales to legal to procurement. Looking down the road, if your organization can negotiate contracts and execute agreements 30% faster, you will be ahead of your competitors.
Where we’ll go from here
We’re proud of how we’ve done in the very first Gartner CLM Magic Quadrant. At the same time, there is always room for improvement. The Gartner report analyzes a product’s strengths and also provides cautions for areas that are not as developed. We’re looking to learn from the results and improve our offering. In fact, we’ve already started down that path.
We believe we’ve already taken steps to improve our offerings to customers and we’ll continue to work to improve our customer experience and support. When Gartner evaluated Conga Contracts for the Magic Quadrant, we had just set up a dedicated customer success (CSM) team that is now fully launched and actively supporting our customers to address any issues that arise. We’ve since introduced additional product-related communications and are working to continue supporting customers with more in-person and online user education and training. In 2020 and beyond, we’ll keep working to develop our resources and platform to better serve our customers.
In our Fall 2019 release, we introduced a new user interface (UI) deepening our search capabilities within Conga Contracts. This new one-step search allows for full text search including enhanced preview capabilities and filtering. With this new UI, we have already addressed many of the areas where our scores were below average in the Gartner evaluation.
Being named a Challenger is a fantastic start. We’re delighted with our accomplishments, but we aren’t resting on our successes. We’re pushing forward, already working to improve both the areas where we’re strongest and the areas where we need to improve.
We’re looking forward to next year’s report!
*Gartner “Magic Quadrant for Contract Life Cycle Management” by Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, Micky Keck. 25 February, 2020.
Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.