Archives

New Agiloft CEO talks about scaling up its CLM platform that ‘can live and grow’ as a business transforms

Following the announcement that specialist contract lifecycle management (CLM) provider Agiloft, had secured a $45 million growth equity investment from FTV Capital, Spend Matters spoke with its new CEO, Eric Laughlin, about his vision for the firm in the coming 12 months.

He also foresees a future for contracting that reaches into the realms of wider business-process improvement for every node in an organization that contracting touches.

“Contracts are no longer considered documents,” Laughlin said in a Q&A. “They are data, and that data is the construction manual for the entire business.”

Agiloft: Vendor Analysis, 2020 Update (Part 3) — Agiloft Competitors, SWOT, Commentary, Tech Selection Tips

contract

The third and final installment of this Spend Matters PRO Vendor Analysis looks at Agiloft’s competitors and provides an objective SWOT analysis of the provider.

The contract lifecycle management (CLM) technology market is highly fragmented today, with customers having significant choice between broad-based suite providers and independent vendors. Within this mix of full lifecycle solutions — from analytics to authoring to compliance — there are also specialized providers that stand out for unique capabilities, specialization or unique technology approaches to CLM. One CLM provider that is differentiated from other options — owing both to its business rules and business process management (BPM) foundation and to its adjacent capability in asset management and related areas — is It’s also at the forefront of contract and commerce lifecycle management (CCLM), which means putting contracts at the center of numerous digital business processes. Spend Matters calls this area commercial value management (CVM).

Part 3 also includes provider selection guidance, recommendations for companies that can best take advantage of Agiloft’s capabilities, and a summary analysis. Part 1 provided an in-depth solution overview of Agiloft’s offering and a company profile. Part 2 gave a detailed analysis of Agiloft’s solution strengths and weaknesses as well as a review of the user experience.

Agiloft: Vendor Analysis, 2020 Update (Part 2) — Product Strengths and Weaknesses, Tech Selection Tips

digital signatures

This installment of our Spend Matters PRO Vendor Analysis explores Agiloft’s strengths and weaknesses, providing facts and expert analysis of its solution to help procurement organizations decide whether they should shortlist the vendor. It also offers a critique (pros/cons) of the user interface.

Most procurement organizations have only started to explore the full set of capabilities that integrated contract lifecycle management (CLM) capabilities can bring. Yet in most cases today — outside of procurement organizations deploying integrated suite-based contract management technologies, many of which offer limited capabilities relative to independent CLM vendors — CLM remains loosely coupled from overall procurement processes, including sourcing, supplier management, transactional buying, contract compliance and risk management.

Agiloft, one of dozens of independent CLM providers in the market today, offers a means of creating a synthetic process-driven and data-driven “hub” beyond providing core contract management capabilities alone. To do that, the vendor uses a unique term to describe its approach to putting contracts at the center of numerous business processes: contract and commerce lifecycle management (CCLM). And it’s not alone in its thinking. What Agiloft calls CCLM we at Spend Matters call commercial value management (CVM), a concept of contract management where granularly modelled contract obligations form the basis for managing enterprise-wide value creation via a centralized CLM system.

Admittedly, CCLM or CVM is at this time more conceptual than actionable strategy. But we feel that the most mature organizations are moving in this direction with their contract management practices, and, perhaps as a proof point, Agiloft’s most advanced competitors each have their own version of the CCLM/CVM vision that they are articulating with their own roadmaps.

Part 1 of our analysis provided a company background and detailed overview of the Agiloft solution, as well as a summary recommended fit suggestion for when organizations should consider Agiloft in the CLM area. Next up, this series will offer a look at Agiloft’s competitors, a company SWOT analysis, user selection guide, and more tech selection tips.

Agiloft: Vendor Analysis, 2020 Update (Part 1) — Background & Solution Overview

The contract lifecycle management (CLM) market can have many inroads. Some vendors position themselves as fluent with the sales and CPQ world, basing their value props on enablement of frontline business users and acceleration of agreement execution. Others are buy-side specialists, prioritizing the ability to deeply model and track the quantities and conditions for manufacturing agreements to ensure continuity of supply. And still more are more legal specialists, built around the idea of empowering in-house counsel to become a trusted business partner and earn a “seat at the table.”

Agiloft, a contract lifecycle management vendor that has been operating since 1991, has never gone to market touting just a single set of use cases or a key department to enable. Instead, it has essentially turned this question around and asked, “What do you want us to be?”

This is because Agiloft, while used by more than 500 customers as a CLM system, is actually a no-code platform built upon a business process management framework that has been configured as a CLM application.

Said another way, Agiloft is like a LEGO set in which the code bricks have been assembled to deploy systems for CLM and asset management, among other use cases. This has allowed customers to collect, store and track any and all contract data and attachments that an organization might require, as well as design custom workflows that tie into other systems, making Agiloft both a CLM tool and a broader system for business process orchestration.

The potential for organizations looking to tap such powerful customization while obtaining core CLM capabilities are interesting, yet Agiloft, despite its age and consistently strong customer references, as illustrated its Value Leader ranking within our CLM SolutionMap, has never quite broken out as a well-known CLM pacesetter. Part of this has been a conservative approach to growth and investment — the vendor has historically focused its investment on product development, and it took on outside funding for the first time in 2020, nearly three decade after its founding.

But with a fresh round of external investment and a new CEO at the helm, is Agiloft positioned to break out of its no-code shell into a more widely acknowledged CLM pole position?

This Spend Matters PRO Vendor Analysis, which updates our 2017 review, provides facts and expert analysis to help buying organizations, suppliers and partners make informed decisions about Agiloft’s CLM and related capabilities. Part 1 of our analysis provides a company background and detailed solution overview. The rest of this three-part research brief covers product strengths and weaknesses, a look at Agiloft’s competitors, a company SWOT analysis and tech selection tips.

Agiloft

As part of the SolutionMap RFI process, Spend Matters continuously solicits customer references to determine a procurement technology provider’s placement on the ranking graphics. This is a Spend Matters curated summary of verified customer feedback for Agiloft, a SolutionMap-ranked provider.

Agiloft: What Makes It Great (Contract Lifecycle Management SolutionMap Analysis)

Contract management is among the most complex and multifaceted sectors within the procurement software market. In no other SolutionMap category is there a greater divergence between top standalone solutions and their broader suite counterparts.

Within this category, Agiloft, a contract lifecycle management (CLM) specialist, stands out from the crowd on numerous fronts. It is both one of the highest-performing contract management software vendors based on demonstrated technology capability in the Q2 2018 Contract Lifecycle Management (CLM) SolutionMap and a customer favorite for multiple buying personas. Agiloft‘s SolutionMap performance provides compelling evidence that the company is a must-shortlist candidate for all contract management software buying scenarios.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Agiloft: Vendor Analysis (Part 3) — Commentary and Summary Analysis

The contract lifecycle management (CLM) technology market is highly fragmented today, with customers having significant choice between broad-based suite and independent vendors. Within this mix of full lifecycle solutions — from analytics to authoring to compliance — there are also specialized providers that stand out for unique capabilities, specialization or unique technology approaches to CLM. One CLM provider that is differentiated from other options — owing both to its business rules and business process management (BPM) foundation and to its adjacent capability in asset management and related areas — is Agiloft.

This third and final installment of this Spend Matters Vendor Snapshot covering Agiloft provides an objective SWOT analysis of the provider and offers a competitive segmentation analysis and comparison. It also includes recommended shortlist candidates as substitute providers to Agiloft and provider selection guidance. Finally, it provides summary analysis and recommendations for companies that can best take advantage of Agiloft’s capabilities. Part 1 of this series provided an in-depth look at Agiloft as a company and its specific solutions, and Part 2 gave a detailed analysis of solution strengths and weaknesses and a review of the user experience.

Agiloft: Vendor Analysis (Part 2) — Product Strengths and Weaknesses

Most procurement organizations have only started to explore the full set of capabilities that integrated contract lifecycle management (CLM) capabilities can bring. Yet in most cases today – outside of procurement organizations deploying integrated suite-based contract management technologies, many of which offer limited capabilities relative to independent CLM vendors – CLM remains loosely coupled from overall procurement processes, including sourcing, supplier management, transactional buying, contract compliance and risk management. Agiloft, one of dozens of independent CLM providers out there, offers a means of creating a synthetic process- and data-driven “hub” beyond providing core contract management capabilities alone.

Agiloft’s history, which we trace in this Spend Matters PRO Vendor Snapshot series, includes over a decade spent developing and refining its core business rules and business process management (BPM) engine. While these two capabilities now come standard with other procurement and CLM technologies, to say they are all created equal would be as incorrect as labeling all source-to-pay platforms equal. While sounding technical on the surface, these two areas are the defining elements that help differentiate the vendor today in terms of what they can enable procurement to achieve (beyond the expected CLM basics). In addition, they enable Agiloft to serve as a new type of project and process orchestration platform to unite other technologies and data sets.

This Spend Matters PRO Vendor Snapshot explores Agiloft’s product strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should shortlist the vendor. It also offers a critique (pros/cons) of the user interface. Part 1 of our analysis provided a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Agiloft in the CLM area. Next up, this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

Agiloft: Vendor Analysis (Part 1) — Background & Solution Overview

contract

The contract lifecycle management (CLM) technology market includes dozens of different technology providers, many of which provide additional buy-side (e.g., strategic sourcing, transactional procurement, etc.) or sell-side (quote-to-cash) capabilities. Some of these vendors are well known in the market, having invested heavily in sales and marketing for many years. Others are not. One provider in the latter camp that recently caught our attention after a round of briefings and demonstrations is Agiloft. Today, Agiloft covers all the standard contract lifecycle management components (which we’ll explore in this series in detail). These enabling capabilities include core contract authoring, repository and lifecycle management capabilities. But how Agiloft stands out within the highly crowded CLM market actually owes more to its core technology underpinnings and adjacent capabilities than the CLM features alone that sit on top of its architectural stack. This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help buying organizations, suppliers and partners make informed decisions about Agiloft’s contract lifecycle management (CLM) and related capabilities. Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Agiloft in the CLM area. The rest of this multipart research brief covers product strengths and weaknesses, competitor and SWOT analysis, user selection guides and insider evaluation and selection considerations.