Conga Named a Leader in the IDC MarketScape Buy-Side Contract Lifecycle Management Assessment
Conga also ranked in the top 5 for Customer Communication Management Software 2019 Market Share
SAN MATEO, Calif. – April 14, 2021 – Conga, the global leader in commercial operations transformation, today announced it has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Buy-Side Contract Lifecycle Management Applications 2021 Vendor Assessment 1.
The IDC MarketScape analyzed 13 major providers in the market based on vendors’ contract lifecycle management applications from the buy-side perspective. According to the report, Conga’s Contract Lifecycle Management (CLM) platform is highlighted for its ability to apply artificial intelligence (AI) and machine learning (ML) to optimize contract lifecycles, transforming commercial operations for businesses. The strengths highlighted in the report include:
360-degree visibility of the entire contract cycle, including negotiations, emails, and documents
Innovation in AI for enterprise CLM focused on three key areas: contract lifecycle time forecast, third-party paper handling, and intelligent import of contracts/documents in bulk
Built on Force.com, making integration with Salesforce simple, seamless, and fully included at no extra cost.
Conga’s digital document capabilities help organizations transform their commercial operations by simplifying and automating their approach to the essential quotes, contracts, and documents that drive commerce. Conga CLM applies AI and machine learning (ML) to optimize the contract lifecycle, ensuring legal teams follow the most effective path to close deals via innovative technologies including conversational user interfaces, intelligent import, and automated orchestration, among other capabilities.
“The past year has highlighted not only the need for organizations to adopt digital solutions to ensure business continuity but the importance of utilizing trusted and reliable platforms such as Conga to streamline workflows,” said Noel Goggin, CEO of Conga. "The recognition of the Conga CLM platform as a Leader in the market serves as a true testament to our ongoing efforts to help businesses transform and automate commercial operations to drive more efficient revenue processes and ultimately better business outcomes, no matter their priorities.”
Being named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Buy-Side Contract Lifecycle Management Applications 2021 Vendor Assessment follows Conga being ranked in the top 5 for 2019 market share in the IDC, Worldwide Customer Communications Management Software Market Shares, 2019: Shifting to Cloud-Based Communication Services report2. IDC highlighted Conga’s breakthrough as one of the top five vendors in the customer communications management software market. With one of the fastest growth rates at 25.5%, Conga’s growth has landed Conga a 4.8% market share after extending Conga Composer’s document generation capabilities to address creation, collaboration, workflow automation, and analysis of digital documents — all under one Conga suite.
“Investment in and the implementation of digital solutions, such as CLM technology, to drive business procurement forward has increased exponentially over the recent years,” said Mickey North Rizza, Program Vice President, Enterprise Applications and Digital Commerce at IDC Research. “Conga CLM has proven to be a leader in the digital procurement buy-side contract lifecycle market through its innovative technology capabilities and ability for customers to have a holistic view of the entire contract cycle — all of which is essential for companies looking for an effective solution to manage global procurement operations.”
To download an excerpt of the IDC MarketScape Report, visit: https://conga.com/resources/IDC-MarketScape-CLM-vendor-assessment-report
Conga, the global leader in commercial operations transformation, helps businesses simplify and automate their approach to the essential quotes, contracts, and documents that drive commerce. We help our customers become more agile, so they can adapt quickly to change and create a fluid, connected customer experience. Companies choose Conga for the most comprehensive solution set in the market and expert guidance, enabling them to transform the processes and documents surrounding customer engagement, configure price quote (CPQ), contract lifecycle management (CLM), and the complete commercial operations lifecycle. With Conga, businesses evolve their commercial operations to streamline their revenue processes and derive the meaningful insights that lead to sustained growth.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.