DocuSign named a Leader in 2020 Gartner Magic Quadrant for Contract Lifecycle Management
SAN FRANCISCO, Feb. 28, 2020 /PRNewswire/ -- Following its acquisition of contract lifecycle management (CLM) provider SpringCM in 2018 and the subsequent launch of its flagship DocuSign CLM solution, DocuSign (NASDAQ: DOCU) was today named by Gartner, Inc. as a Leader in the 2020 "Magic Quadrant for Contract Lifecycle Management"1 research report.
DocuSign placed highest for its ability to execute and was also recognized for its completeness of vision.
This is the first time that Gartner has released a Magic Quadrant report for the CLM category, with 12 vendors rigorously evaluated across 15 criteria.
This news reflects the increasing importance that mid-market and enterprise organizations are placing on managing the lifecycle of their contracts. DocuSign believes it is also another milestone in the company's delivery on its Agreement Cloud strategy—that is, its ability to offer a broad suite of solutions that help customers around the world to prepare, sign, act-on and manage the agreements that are the very foundation of their business.
According to Gartner, "CLM solutions are software, installed on-premises or delivered as a service, that proactively manages contracts from initiation through award, compliance and renewal … CLM spans all processes associated with the life cycle of every contractual agreement … Following a discovery, uploading and extraction phase, the CLM workflow begins with a request and continues through the stages of authoring; redlining (negotiation); approval; execution; billing/fulfillment compliance; obligation management, auditing, monitoring and reporting; amendment, closure and renewal; and eventual archiving."
"Since announcing the DocuSign Agreement Cloud almost a year ago, we have worked tirelessly to ensure that our CLM solution offering is best-in-class," said Scott Olrich, chief operating officer at DocuSign. "We have also listened closely to our customers so we can deliver solutions to their CLM challenges. We're proud that Gartner has named DocuSign a Leader in this Magic Quadrant and believe that the positioning reflects our commitment to CLM as a pillar product in the DocuSign Agreement Cloud."
To be a Leader, "Leaders are in the strongest position to influence the market's growth and direction. They demonstrate a market-defining vision of how CLM technology can help companies achieve business objectives for managing compliance and reducing process bottlenecks. Leaders have the ability to execute against that vision through products and services and have demonstrated business results in the form of revenue and earnings. They excel in their combination of market understanding, innovation, product features and functions, and overall viability. While maintaining a well-established base of long-term customers, Leaders show a consistent ability to win new deals with successful implementations. Their customers are deployed in the largest number of geographic regions and cover a wide variety of industry verticals and sizes of organization. Leaders are often the vendors that other providers measure themselves against."
To read more about the company's position among others—and to learn more about the CLM category as a whole—a complimentary copy of the Gartner, Inc. "Magic Quadrant for CLM" is available for download here.
1Source: Gartner, Inc. "Magic Quadrant for Contract Lifecycle Management," Patrick Connaughton, Kaitlynn Sommers, Marko Sillanpaa, Micky Keck, 25 February 2020. The company is listed as DocuSign (SpringCM) in the report since DocuSign acquired SpringCM in September 2018.
2Source: Gartner, Inc. "Market Guide for Contract Life Cycle Management," Kaitlynn Sommers, Patrick Connaughton, 17 December 2018.
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.
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DocuSign helps organizations connect and automate how they prepare, sign, act on, and manage agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature: the world's #1 way to sign electronically on practically any device, from almost anywhere, at any time. Today, more than 560,000 customers and hundreds of millions of users in over 180 countries use DocuSign to accelerate the process of doing business and to simplify people's lives.
For more information, visit www.docusign.com
SOURCE DocuSign, Inc.