Evisort Named a Strong Performer in The 2023 Forrester Wave™ for Contract Lifecycle Management
We are honored to announce Evisort’s debut recognition as a Strong Performer in The Forrester Wave™: Contract Life Cycle Management, Q2 2023!
The Forrester Wave™ evaluation takes 26 different criteria into consideration in order to identify Leaders, Strong Performers, Contenders, and Challengers among the 13 most significant providers in the CLM space. Recognizing that, due to economic pressure and changed expectations, today’s CLM technology must be able to support the entire enterprise, this report rigorously analyzes a company’s strategy, current offering, and market presence.
In the report, Evisort received the highest scores possible in the vision and global delivery strategy criteria. The report noted that “Evisort garners praise for its AI…” and “strategically, Evisort punches above its weight, stronger than many of those we evaluated….”
We believe it is especially meaningful that Evisort has been recognized for this honor as we continue to leverage our proprietary AI to transform contracts into searchable data and give enterprise organizations the opportunity to identify and boost revenue, drive cost savings and reduce risk.
“Leading organizations across every industry rely on Evisort’s contract AI to power their contract lifecycle management and mobilize contract data across their lines of business,” said Jerry Ting, Evisort CEO and Founder. “We believe this recognition as a Strong Performer by Forrester is a meaningful milestone for Evisort, yet we’ve only scratched the surface of what we plan to achieve for our customers. AI is no longer a nice-to-have, but an essential tool for efficiency and risk management, and Evisort is uniquely positioned to lead the disruption of contract management with proven technology.
Evisort's contract lifecycle management platform leverages proprietary AI and large language models to transform contracts into searchable data, generate contract language, and manage workflows. Our platform easily integrates with existing repositories and systems, automatically tracks key information without manual intervention, and helps teams optimize their negotiations for new contracts while providing a rapid return on investment.
We are proud to help provide leading companies with improved visibility into their entire contract portfolio and support customers including Bank of New York Mellon, Microsoft, Workday, and more. Our platform helps in finding revenue, cost savings, and risk-reduction opportunities, eliminating hours of manual contract analysis. Evisort also allows customers to access a central contract repository and expedite deal making by accelerating the contract review process with pre-trained and generative AI.
“Our vision for the future is wide-reaching and there is no ‘unringing’ the AI bell," said Ting. "It is clear that AI has become productivity and risk management imperative, and Evisort, powered by established technology, is leading the charge in revolutionizing how contracts are managed.”
One year ago, we announced $100 million Series C fundraising round in May 2022. In July, we launched Automation Hub™ to enable anyone to easily train Evisort’s AI to recognize clauses unique to their business with only a handful of examples and no coding experience. Since then, we have continued to invest in the product experience by introducing advanced document processing capabilities, AI in pre-signature workflows, generative AI for redlining and clause creation, and integrations for enterprise partners including ServiceNow’s Legal Service Delivery application.
Evisort recently won gold for Legal Company of the Year in the 2023 American Business Awards. We also launched a new integration with ServiceNow to streamline contract delivery services and rolled out new generative AI capabilities, such as automated redlining and clause creation.
It’s been a busy time, to say the least, and being recognized in The 2023 Forrester Wave™ for Contract Lifecycle Management report serves as a reminder that we’re continuously making a positive impact on how legal professionals across all industries power their contract lifecycle management and mobilize contract data across their lines of business.
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