Evisort Named a Visionary in 2023 Gartner® Magic Quadrant™ for Contract Life Cycle Management
October 25, 2023
Evisort, an AI-native CLM platform, recognized for completeness of vision and ability to execute.
SAN FRANCISCO, October 25, 2023 – Evisort, the leader in artificial intelligence (AI) for contract lifecycle management (CLM) and analysis, today announced that Gartner, Inc. has positioned Evisort as a Visionary in the 2023 Gartner® Magic Quadrant™ for Contract Life Cycle Management for the second year in a row.* The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.
An AI-native company, Evisort recently announced that it has created the first large language model (LLM) built specifically for legal agreements to help power the next phase of the company’s generative AI innovations. Earlier this year, Evisort launched Automated Redlining and Clause Creator, which apply generative AI to expedite contract drafting, editing, and negotiations while minimizing risk. Evisort also recently introduced a conversational experience that democratizes access to contract information by allowing business users to ask questions about their contracts in simple, natural language (such as “What happens if we terminate early?”) and receive clear, reasoned answers with links to source language in the contract.
The Magic Quadrant report follows last April’s first-ever Gartner® Peer Insights™ “Voice of the Customer” for Contract Life Cycle Management (CLM) report, in which Evisort was named a Customers’ Choice. Reviews from Evisort customers include:
- “Evisort is an incredible tool that gives instant ROI.”
- "Evisort has an amazing AI engine backing this product."
- “Evisort has one of the best AI technology solutions in Legal technology landscape today.”
“Evisort strives to help organizations know everything about their contracts and contracting processes,” said Jerry Ting, Evisort Founder and CEO. “Our AI automatically surfaces contract data regarding obligations, opportunities, risk, expenditures, and more, so business leaders have ready access to the insights they need to make critical, strategic decisions.”
Evisort’s AI-native, end-to-end CLM solution integrates with virtually any business application to ingest, analyze, and extract data from agreements and accelerate every part of the contract lifecycle. With advanced search, trainable AI models, customizable dashboards, and automated reports, users can find everything they need to make fast, data-driven decisions.
For a complimentary copy of the 2023 “Magic Quadrant for Contract Life Cycle Management,” please visit here.
* Source: Gartner, “Magic Quadrant for Contract Life Cycle Management,” Kaitlynn Sommers, Lynne Phelan, Kerrie McDonald. October 2023.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner, Magic Quadrant for Contract Life Cycle Management, Kaitlynn Sommers, Lynne Phelan, Kerrie McDonald. October 2023.
GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Evisort is the leading transformative business solution for contract lifecycle management and analysis. Powered by proprietary artificial intelligence (AI) trained on 11M+ contracts and 1B+ data points, Evisort’s technology parses the nuanced context and meaning of legal language and helps operational teams scale faster, reduce costs, and deliver greater business impact. Evisort is the first AI-native CLM company to achieve ISO 27001 and 27701 certifications in addition to SOC 2 Type 2 certification. Headquartered in San Francisco, the company supports legal, finance, sales, procurement and IT organizations around the globe. For more information, visit www.evisort.com or connect with us on LinkedIn or X (Twitter).
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