Trakti: Vendor Analysis — Solution Overview for Contract Management, Roadmap, Customer Feedback, Competitors, Analyst Insights

This Spend Matters PRO Vendor Analysis provides an overview of Trakti and its solution for contract management.

With the rise of the contract lifecycle management (CLM) market, contract management has slowly become more digital. The same cannot be said, however, of contracts.

The contracts that CLM solutions deal with are in practice electronic versions of prose. A few more advanced vendors venture into the electronic representation of contract elements, but as a rule most aspects of a contract are either included in an attached document or modeled as metadata tags with the system.

Trakti, in contrast, is a step toward CLM that is digital native — that is, agreements modeled and managed in a fully electronic format. Via a combination of contract management expertise and targeted use of blockchain technology, Trakti offers smart contracts functionality in an end-to-end CLM system it has applied across enterprise use cases, at real customers, at supply chain scale.

The brief explores the concept behind Trakti; the platform, application and supporting services the vendor delivers; a verified customer reference analysis; and a competitive market analysis, complete with key analyst takeaways.