Contract Lifecycle Management (CLM) Software Space in 2020

Contract Lifecycle Management space is evolving at a rapid pace. Both the number of providers as well as the overall spend on contract lifecycle management has increased significantly over the past few years. A space that has traditionally been championed by the likes of SAP Ariba and IBM Emptoris is now being redefined by a new generation of technology companies who have taken a fresh outlook and are breathing in new life to CLM technology.

These new generation providers have given a tough competition to the existing leaders and have made their mark by consistently by quickly acquiring noteworthy market share coupled with significant startup financing. 

Here's what the CLM space looks like in 2020. 

Disclaimer: Please note that the below categorization is not a comparative listing and is simply an independent perspective on the CLM space based on various parameters.

The Undisputed Leaders 

This comprises of contract lifecycle management vendors that are frequently cited as the top providers with strong CLM capabilities and noticeable market share in various independent research reports.

• Apttus
• Agiloft
• DocuSign (SpringCM)
• Exari (Coupa)
• Icertis

Leaders of Tomorrow

Providers that are frequently recognized for their strong CLM capabilities and proven ability to deliver strong value for their clients. 

• Conga (Apttus)
• GEP
• SirionLabs

The Deep-Rooted Chiefs

Providers with significant market share, influential customer relationships, service delivery capabilities, support structure, and/or unique capabilities that enable them to hold a strong place. 

• Exigent
• Legal Suite CLM
• Oracle Contract Management
• SAP Ariba
• Seal (Docusign)

The Challengers

Providers with strong capabilities, demonstrated strength, noteworthy clients, and top of the mind recall in CLM space. Some of them offer CLM capabilities as part of the bigger software suites (

• CLM Matrix (Wolter Kluwer's)
• CobbleStone
• Concord
• Coupa
• Determine (Concentric)
• Ivalua
• Jaggaer Contracts+
• Symfact
• SynerTrade
• Zycus

Emerging Players

CLM vendors that have started to make their mark in this space, or have been present for sometime but aren't necessarily the most cited ones. One or more of these providers may have higher market share or revenues than players cites in some of the previous categories.

• Brightleaf Solutions
• Corridor Contracts 365
• Contract Express
• ContractRoom
• ContractPodAi
• ContractSafe
• Contract Wrangler
• Gatekeeper
• Ironclad
• Kira Systems
• Medius (Wax Digital)
• Onit
• OpenWindows
• OptimusBT
• Outlaw
• Ultria
• Volody

Icertis, HighRadius, AppDirect and AvidXchange featured in the 2020 Forbes Cloud 100 List

Forbes recently released the fifth annual listing of world's 100 top private Cloud companies. The list, accessible here, takes into account various factors such as growth, sales, valuation, and culture, as well as a reputation score that's derived in consultation with 43 CEO judges and executives from their public-cloud-company peers. 

The listing comprises a diverse set of cloud companies from various sectors such as Enterprise AI, sales enablement, sales engagement, data management, analytics, payments, security and risk management, customer communications, and more.

Fig. Forbes 2020 Cloud 100 List

Several companies from Contract Management, Source to Pay, Procure to Pay, and related fields have been featured in this list in the past. Examples include Coupa which now is publicly listed and Apttus which acquired Conga and subsequently branded itself as Conga. It is noticeable that both Apttus and Conga were ISV partners of Salesforce.

This year too some of the leading companies from CLM, procurement, accounts payable and related fields have been featured in the list.

• AvidXchange - Featured at 42nd place in the list, AvidXchange is the industry leader in automating invoice and payment processes for mid-market companies. It was founded in the year 2000, and processes over $140 billion transactions annually across its network of more than 600,000 suppliers.

• Icertis - Featured for the second time, Icertis is the only contract management company that's found a place in this list. More than 900 employees out of a total of about 1250+ of Icertis employees are based in India (Pune and Mumbai).

• High Radius - HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The company is headquartered in Houston, Texas with a significant presence in Hyderabad, India for product, engineering, and product marketing operations.

• AppDirect - AppDirect offers a subscription commerce platform that removes the complexity of building a recurring business model. Key investors of AppDirect include StarVest Partners, J.P.Morgan, Foundry Group, and Mithril.