Lewes, DE -- (SBWIRE) -- 09/10/2015 -- 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.

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 sell-side 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.

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

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 includes a discussion on the key vendors operating in this market.

According to the report, the deployment of CLM software will enable lawyers to view documents virtually in any format, including Word, Powerpoint, image, and Excel, and pull up similar contracts from a library for reference. This is essential from the lawyers' perspective, as it reduces their review times and the contract cycle times considerably. Also, CLM solutions streamline the entire CLM process and enable companies to identify loopholes in the system, which results in huge cost savings. Based on these factors, we believe that the global CLM market will register healthy growth globally.

Key players in the Global Contract Life-Cycle Management Market: Apttus, Exari, SAP, Oracle, SAP and Selectia

Other Prominent Vendors in the market are: BravoSolution, CMA Contiki, ESM, GEP, Great Minds, Icertis, Ivalua, OpenText, Optimus BT, Prodagio, Revitas, SciQuest and Symfact

Market driver
- Reduced cycle time and cost savings
- For a full, detailed list, view our report

Market challenge
- Dearth of talent
- For a full, detailed list, view our report

Market trend
- Cloud-based CLM
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 67 pages "Global Contract Life-Cycle Management Market 2015-2019" report covers Executive Summary, Scope of the Report, Market Research Methodology, Introduction, Market landscape, Market segmentation by CLM offerings, Market segmentation by end user, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For further information on this report, please visit-
http://www.marketresearchreports.com/technavio/global-contract-life-cycle-management-market-2015-2019

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