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Corridor Company: Vendor Analysis (Part 3) — Competitive and Summary Analysis

Depending on individual organizational requirements and buying expectations, Corridor Company may make up for in product and approach to contract lifecycle management (CLM) what it lacks in market awareness and a broader customer ecosystem sharing best practices in buy-side models, best practices and approaches. After taking a close look at the solution at the product, architecture and integration capability of Corridor, Spend Matters’ view is that Corridor Company deserves to come up more frequently as a shortlist candidate, given its functional capability of supporting a variety of buy-side CLM needs. However, CLM remains a highly crowded and fragmented market with dozens of different providers that may also be a strong fit for individual organizational needs.

This installment of this Spend Matters Vendor Snapshot series provides an objective SWOT analysis of Corridor Company and offers a competitive segmentation analysis and comparison. It also includes recommended shortlist candidates for CLM (in addition to Corridor) and offers provider selection guidance. Finally, it provides summary analysis and recommendations for companies that may Consider Corridor as a potential CLM solution. Previous installments provide an in-depth look at Corridor as a firm and its specific solutions (PART 1) and a detailed analysis of solution strengths and weaknesses and a review of the product’s user experience (PART 2).

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

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Corridor Company may be a lesser-known contract lifecycle management (CLM) vendor within procurement today, but it most certainly deserves a look as a possible shortlist candidate in more opportunities. The provider not only offers clever extension of SharePoint and tight Microsoft and Salesforce integration but also brings numerous strengths where specialized CLM tools and those found in procurement suites come up short. In fact, we were surprised, based on our recent look at Corridor, that we had not come across it before, as we would have recommended it in various shortlist scenarios had we known about it before. Of course, as with all solutions, Corridor also has weaknesses that can make it less attractive for procurement and buy-side use cases, depending on each situation, company technology environment and specific buying and use case support needs.

This Spend Matters PRO Vendor Snapshot Corridor Company’s contract lifecycle management solution including product strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide if they should shortlist the vendor. It also offers a critique (pros/cons) of the user interface as well. Part 1 of our analysis provides a company and detailed solution overview and a recommend fit list of criteria for firms considering it. The remaining parts of this multipart series will offer a SWOT analysis, user selection guide, competitive alternatives and additional evaluation and selection considerations.

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

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Contract lifecycle management (CLM) solutions are increasingly becoming a component, or module, within procurement technology suites. Given this trend, while there are dozens of choices in the market, there are fewer “pure-play” solutions. For example, even long-time contract specialist vendors like Selectica have acquired sourcing and procurement vendors (e.g., Iasta and b-pack in Selectica's case, which changed its name to Determine). And even specialized providers such as Apttus have expanded their capabilities well beyond standard CLM solution functionality. Only a handful of pure-play CLM vendors remain, including Exari, Icertis, Conga Novatus, Nextance, Revitas and Symfact. We can add to this list Corridor Company, a provider that is not as well known in the CLM and procurement technology sectors as it should be.

As one of the few independent CLM vendors left, Corridor Company occupies a unique position in the procurement technology software market. Not without limitations, Corridor should appear on more CLM selection shortlists than it does. Spend Matters' analysis of the platform suggests Corridor is a full-featured provider that can meet the majority of requirements for enterprise contract management needs, including need deep visibility into global buy-side and sell-side contracts. Further, Corridor also offers differentiated capabilities around obligation management, distributed reporting and counter-party management.

This Spend Matters PRO vendor snapshot provides facts and expert analysis to help buying organizations make informed decisions about whether they need a solution like Corridor Company for contract lifecycle management. 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 Corridor Company. The rest of this multi-part research brief covers product strengths and weaknesses, competitor and SWOT analysis, user selection guides and insider evaluation and selection considerations.