Symfact: Vendor Analysis — Solution Overview, Strengths/Weaknesses, Company SWOT, Tech Selection Tips

Contract lifecycle management (CLM) solutions are a “hot” market, and part of the reason for recent interest is because of their applicability to a wide range of enterprise use cases. Unlike other technology areas that touch procurement, CLM sells to multiple business stakeholders, often at the same time. There are some CLM vendors with particular strengths on the buy-side, sure, but there also are plenty of others that spring from sell-side use cases, or still more that support legal organizations first and foremost.

Symfact, a CLM vendor founded in 2002, provides an example of just such a “flavoring” of contract management solutions toward a unique business use case — governance, risk management and compliance (GRC). The Switzerland-based vendor, with a U.S. office in Chicago, offers a well-tested CLM solution that also links to other GRC-related apps (e.g., legal entity management, third-party risk management). This of course extends well to procurement, as suppliers also are third parties that need to be managed for many risks, which makes Symfact an interesting potential partner for buy-side CLM beyond its legal/GRC roots.

This one-part Vendor Analysis includes an overview of Symfact’s CLM solution, a perspective on what is comparatively good (and not so good) about the solution, a SWOT analysis and a tech selection checklist for organizations that might consider the vendor.