Magic Quadrant for Contract Life Cycle Management
Vendors or products added in this year’s report may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
Vendors or products dropped from one year to the next may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
No vendors were dropped in this report.
The enterprise CLM market continues to be both dense and dynamic. Many vendors are backed by venture capital/private equity (VC/PE), thus allowing for robust product development and deployment of new features at an accelerated pace. An example of this is newly emerging generative AI use cases. The hype around generative AI has grown over the last 18 months and fuels exploration in CLM. Gartner inquiries show that customers of all maturity levels are exploring investment in AI use cases. AI has gone from a future 'nice to have' to a key feature evaluated in vendor selection in 2024. All vendors that qualified for this Magic Quadrant provide some level of AI support in the contracting process. Gartner expects vendors to continue making significant and rapid investments in this area. As AI capabilities expand and mature, a new focal point around contract risk will come into focus. Leading vendors are exploring how and where contract risk can be incorporated into broader enterprise processes to improve compliance. Connected contract data will serve an important role in enterprise decision making.
A: We review and adjust our inclusion criteria for Magic Quadrants as markets change. As a result of these adjustments, the mix of vendors in any Magic Quadrant may change over time. A vendor's appearance in a Magic Quadrant one year and not the next does not necessarily indicate that we have changed our opinion of that vendor. It may be a reflection of a change in the market and, therefore, changed evaluation criteria, or of a change of focus by that vendor.