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 Disclaimer
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.
Media Relations:
Adrian
Wainwright
Head of Communications
media@docusign.com
Investor Relations:
Annie
Leschin
VP Investor Relations
investors@docusign.com
About DocuSign
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
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SOURCE DocuSign, Inc.