Market Study- Contract Life-Cycle Management Market Report Up to 2019 by Hexa Reports, Inc

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Global Contract Life-Cycle Management Market 2015 Market

Share, Size, Industry Profile, Market Prize, Forecast and

Overview

Traditionally, contracts were documented on paper and presented for any revisions or amendments till

the final version was prepared. Lawyers used to review the contracts manually, which was a time

consuming and error prone process. With evolution in technology, companies started managing

contracts via the electronic media. However, the electronic format of contracts have not enhanced the

visibility of the contracts, resulting in poor management of those contracts. With the adoption of CLM

software, companies enhanced the visibility of the contracts and, hence, were able to provide timely

information to make informed decisions.

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CLM software allows companies to streamline the contracting process by automating the drafting of

contracts. It also helps negotiate, track, manage, and obtain optimal value from buy-side as well as sellside contracts. Demand for CLM software comes from sectors involving complex contracts, such as the

financial services, healthcare, manufacturing, and public sectors. Large enterprises as well as small

enterprises in these sectors are adopting CLM software to manage their contracts.

Technavio's analysts forecast the global CLM market to grow at a CAGR of 16.35% over the period 20142019.

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Covered in this report

The global CLM market is segmented on the basis of products and geography.

Technavio's report, Global CLM Market 2015-2019, has been prepared based on an in-depth market

analysis with inputs from industry experts. It covers the landscape of the global CLM market and its

growth prospects in the coming years. The report also...