Conga named a Leader in the Gartner Magic Quadrant for Contract Lifecycle Management, 2021
We are proud to announce that Conga has been recognized as a Leader in the Gartner Magic Quadrant for Contract Lifecycle Management, 2021 report.
Gartner Magic Quadrants evaluate vendors within a given market based on their completeness of vision and their ability to execute. In this second year of CLM Magic Quadrant reporting, Gartner analyzed 15 vendors in the CLM space. Conga is one of just four companies positioned as a Leader in this report.
We believe our ability to streamline SMB and enterprise business operations through end-to-end contract automation contributed to Gartner’s evaluation. Conga’s Commercial Operations Suite—which includes both Conga CLM and Conga CPQ—gives companies greater control over their operations and provides a powerful, flexible approach to digital transformation. In addition, we believe our focus on the customer experience and investment in enhancing our customer-facing teams played a role in Conga’s position.
This recognition from Gartner comes on the heels of the announcement that Conga was named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Buy-Side Contract Lifecycle Management Applications 2021 Vendor Assessment (Doc # US45016019, February 2021). We believe these recognitions demonstrate Conga’s ability to help companies of any size, in any industry, to digitally transform their commercial operations—for both buy-side and sell-side use cases.
Why is CLM important?
Contracts govern more than 80% of transactions in the average organization. That’s why it’s so critical to get contract management right. CLM solutions allow companies of any size to automate contract creation, negotiation, and approval—ultimately leading to better outcomes, improved efficiency, and faster sales cycles.
As demand for a comprehensive CLM solution increases, the global market for CLM software is on the rise—from $1.25B in 2020 to a projected $2.7B in 2026. In our opinion, the Gartner Magic Quadrant can help to streamline the selection process for companies who are in the market for a CLM solution, by identifying various vendors in the space and discussing strengths that may set them apart from others.
We believe Conga was also recognized as a Magic Quadrant Leader due to our unique overall product portfolio designed to scale along with companies on their path to digital maturity. Conga brings together CPQ, eCommerce, eSignature, and more, allowing us to address what will bring our customers the most value, streamline their processes, and automate workflows to transform their business. For customers who may not need a full CLM but are looking for a contract repository, our Composer product provides an intuitive interface with fast time-to-value. This robust and varied offering allows us to address varying levels of CLM complexity.
What comes next
We’re incredibly proud to be named a Leader in the Gartner 2021 Magic Quadrant for CLM, and as our product roadmap continues to evolve, we are committed to enhancing our CLM solution and providing outstanding service to our customers. Our recognition as a Leader in this report provides even greater motivation to double down on our strengths, continue improving our customer experience and overall product, and solve for our clients’ most critical contract management needs.
Download the full Gartner Magic Quadrant for Contract Lifecycle Management, 2021.
Gartner, Magic Quadrant for Contract Life Cycle Management, Kaitlynn Sommers, Marko Sillanpaa, Jim Murphy, Patrick Connaughton, May 10, 2021
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