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Contract Life-Cycle Management (CLM) Software Market size is set to grow by USD 4.82 billion from 2024-2028, Pricing strategies of vendors to boost the market growth, Technavio

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NEW YORK, Aug. 9, 2024 /PRNewswire/ — The global contract life-cycle management (CLM) software market  size is estimated to grow by USD 4.82 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  23.75%  during the forecast period.  Pricing strategies of vendors is driving market growth, with a trend towards emergence of analytics in contract life-cycle management. However, high implementation and maintenance cost  poses a challenge. Key market players include Contract Logix Llc, Corcentric Inc., Coupa Software Inc., DocuSign Inc., ESM Solutions Corp., Great Minds Software Inc., Icertis Inc., Infor Inc., International Business Machines Corp., Ivalua Inc., JAGGAER LLC, Newgen Software Technologies Ltd., Optimus BT Inc., Oracle Corp., Robobai Pty Ltd., SAP SE, Scanmarket AS, Thoma Bravo LP, Wolters Kluwer NV, and Zycus Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Software and Services), Deployment (On-premise and Cloud-based), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Contract Logix Llc, Corcentric Inc., Coupa Software Inc., DocuSign Inc., ESM Solutions Corp., Great Minds Software Inc., Icertis Inc., Infor Inc., International Business Machines Corp., Ivalua Inc., JAGGAER LLC, Newgen Software Technologies Ltd., Optimus BT Inc., Oracle Corp., Robobai Pty Ltd., SAP SE, Scanmarket AS, Thoma Bravo LP, Wolters Kluwer NV, and Zycus Inc.

Key Market Trends Fueling Growth

Contract life-cycle management software enables enterprises to effectively manage and analyze all stages of their contracts and compliance processes. With built-in analytics, organizations can access historical data for comparisons, identify potential risks, and estimate future performance within their supply chain. This streamlines enterprise contract processes, shortens sales cycles, and reduces costs. Ivalua’s latest platform release, 178, showcases their continued investment in research and development, with innovations that enhance contract digitization and analytics. These advancements will significantly contribute to the growth of the contract life-cycle management market in the coming years. 

Contract Life-Cycle Management (CLM) software has become essential for businesses to manage and streamline their contract processes. According to statistical data, the market for CLM software is growing, with trends indicating a preference for solutions that cater to organizations of all sizes and various industries, including Healthcare and Lifesciences. Notable vendors in this space are Coupa, Icertis, Apttus, CobbleStone Software, ContractsWise, Determine, and others. These solutions offer benefits such as centralizing contract data for improved visibility, productivity, and accessibility. They automate contract creation, execution, administration, and approval workflows, reducing errors and disputes. CLM software also mitigates risks, enhances contract governance, and boosts operational efficiency. With the increasing shift to remote work arrangements, digitalization of contract processes is crucial, and CLM software provides the framework for this. Key features include negotiation, renewal, decision-making, quicker contract cycles, error reduction, and notification systems. By automating and monitoring the contract lifecycle, businesses can save time, reduce costs, and improve overall contract management. 

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Market Challenges

The implementation of Contract Life-Cycle Management (CLM) software in small and medium enterprises (SMEs) comes with significant costs. These expenses include software licensing, system design and customization, implementation, training, and maintenance. For successful deployment, organizations need IT personnel with the necessary skills. The process involves self-assessment, planning, sufficient funding, a clear vision, and collaboration among all managerial levels. Post-implementation, continuous upgrades are essential to stay competitive. These factors contribute to the high cost of CLM software, making it a challenge for SMEs to adopt it.Contract Life-Cycle Management (CLM) software is essential for businesses to efficiently manage their contracts from execution to renewal. Challenges in execution, administration, and visibility can slow down productivity. CLM software centralizes contract data, making it accessible to relevant teams and mitigating risks. Approval workflows and notifications streamline the process, reducing errors and disputes. CLM software automates contract governance, monitoring, and decision-making. It boosts operational efficiency by minimizing contract-related issues and quickening contract cycles. Digitalization and remote work arrangements are becoming increasingly important, and CLM software enables businesses to adapt. Mitigating risks is a key benefit, as CLM software provides a systematic approach to contract negotiation, renewal, and error reduction. Workflows and notification systems ensure a smooth process, minimizing delays and increasing productivity. CLM software is a valuable framework for businesses seeking to streamline their contract management processes.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This contract life-cycle management (clm) software market report extensively covers market segmentation by

Component 1.1 Software1.2 ServicesDeployment 2.1 On-premise2.2 Cloud-basedGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Software-  Contract Life-Cycle Management (CLM) software is a vital tool for businesses to effectively manage their contracts. This software assists legal professionals and other team members in creating, negotiating, renewing, and collecting data on existing business contracts. By ensuring the intent of every contract within an organization is fully realized, CLM software can maximize contract performance, enforce commercial terms, accelerate cash flow and time-to-revenue, and minimize the risk of non-compliance. Advanced CLM software offers features such as auto-building contracts based on defined business rules and bulk data upload, enabling faster time-to-revenue and reducing legal operating expenses. Vendors in the market are adopting inorganic strategies to enhance their offerings. For instance, SAP SE and Icertis expanded their partnership in January 2022 to provide enhanced contract management, increasing efficiency, minimizing risk, and making agreements more reliable. In October 2023, Sirion, a leading AI-powered CLM provider, announced a collaboration with IBM to embed Watsonx, redefining CLM for enterprises. IBM also deployed Sirion’s CLM to streamline its order-to-cash and source-to-pay processes. These developments by market vendors will drive the growth of the CLM software segment and the market as a whole during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Vendor Management Software (VMS) market is experiencing significant growth, driven by the increasing need for efficient procurement and supplier management. This growth is fueled by advancements in technology, such as AI and machine learning, enhancing vendor selection, performance tracking, and compliance management. Major players in the market include SAP, Oracle, and Coupa Software, leading innovation and driving competitive dynamics in the industry.

Research Analysis

The Contract Life-Cycle Management (CLM) software market caters to organizations of all sizes, with a significant focus on the IT sector and verticals like Healthcare and Lifesciences. CLM solutions streamline the entire contract process from creation and execution to administration and governance. These systems centralize contract data, ensuring accessibility and reducing errors and disputes. Statistical data suggests that the global CLM market is growing steadily, driven by the increasing complexity of contracts and the need for efficient contract management. CMI teams benefit from CLM software by automating repetitive tasks, improving contract compliance, and enhancing overall contract management effectiveness. Solutions like Apttus, Agiloft, CLM Matrix, CobbleStone Software, Conga, and others offer advanced features to meet the diverse needs of businesses.

Market Research Overview

Contract Life-Cycle Management (CLM) software is a vital solution for organizations of all sizes to manage and streamline their contract processes. This software is essential in various verticals, including the Healthcare and Lifesciences industry. CLM software offers several benefits, such as centralizing contract data, increasing accessibility, and mitigating risks through digitalization. In the IT sector, CLM software is increasingly being adopted for its productivity benefits. The software automates contract creation, execution, and administration, reducing errors and disputes. It also provides visibility into contract-related issues, enabling quicker contract cycles and decision-making. CLM software offers approval workflows, notifications, and contract governance frameworks to ensure compliance and mitigate risks. It also boosts operational efficiency by automating monitoring and renewal processes. With the increasing trend of remote work arrangements, CLM software is essential for ensuring a systematic approach to contract management. Key features of CLM software include automated workflows, notification systems, error reduction, and quicker contract cycles. It also offers centralized contract data, accessibility, and decision-making capabilities. By implementing CLM software, organizations can improve operational efficiency, reduce risks, and gain a competitive edge.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareServicesDeploymentOn-premiseCloud-basedGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Safetyfirst Systems, LLC Provides Notice of Data Security Event

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PARSIPPANY, N.J., July 23, 2026 /PRNewswire/ — Safetyfirst Systems, LLC (“SFS”) is providing notice of a data security event that may involve information relating to certain individuals. While SFS is not aware of any misuse of information associated with this event, it is providing notice to potentially affected individuals out of an abundance of caution.

On January 19, 2026, SFS identified suspicious activity involving a limited portion of its server environment. Upon discovering the activity, SFS quickly took steps to secure its systems, notified federal law enforcement, engaged leading third-party forensic specialists, and performed a detailed investigation into the nature, scope, and impact of the activity. The investigation determined that an unauthorized actor accessed and/or acquired certain files from limited SFS systems between January 16, 2026, and January 19, 2026. SFS then conducted a comprehensive review of the affected files to determine what information may have been involved and identify the individuals to whom the information relates. The review has recently concluded, and SFS is providing this notification to potentially impacted individuals out of an abundance of caution. Although the types of information vary by individual, the affected information may include names, Social Security numbers, and driver’s license numbers.

Protecting the privacy and security of the information entrusted to SFS is a responsibility the company takes very seriously. In response to this event, SFS promptly strengthened security measures, continues to enhance its technical safeguards and monitoring capabilities, and is reviewing existing policies and procedures to further protect against similar incidents in the future. SFS is also providing notice to potentially affected individuals and, where required, appropriate regulatory authorities.

Although SFS is unaware of any misuse of personal information impacted by this event, individuals are encouraged to remain vigilant against events of identity theft by reviewing account statements, explanation of benefits, and monitoring free credit reports for suspicious activity and to detect errors. Any suspicious activity should be reported to the appropriate insurance company, health care provider, or financial institution.

Individuals seeking additional information regarding this event can contact SFS’s dedicated assistance line at 1-833-289-5523 between the hours of 7:00 a.m. to 7:00 p.m. Eastern time, Monday through Friday, excluding holidays. Individuals may also write to SFS at PO Box 101, 3299 US Highway 46, Parsippany, NJ 07054-9998.

 

View original content:https://www.prnewswire.com/news-releases/safetyfirst-systems-llc-provides-notice-of-data-security-event-302831894.html

SOURCE Safetyfirst Systems, LLC

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Sunrate and Mastercard Release White Paper on Agentic AI and the Future of B2B Global Payments

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SHANGHAI, July 24, 2026 /PRNewswire/ — Sunrate, the global payment and treasury management platform, and Mastercard, a global technology company in the payments industry, unveiled a joint white paper, Beyond Automation: Defining Agentic Global Payments, at the 2026 World Artificial Intelligence Conference (WAIC).

Among the first reports in the payments industry to examine the impact of Agentic AI on B2B cross-border payments, the white paper provides a comprehensive framework for understanding how AI agents are reshaping enterprise payment operations. It proposes that cross-border payments are evolving beyond digitisation and automation into a new stage: Autonomy—where AI agents with reasoning, planning, and execution capabilities can independently orchestrate and optimise end-to-end payment and treasury workflows within defined governance frameworks.

As businesses expand across borders, B2B cross-border payments continue to be constrained by fragmented workflows, disconnected systems, foreign exchange inefficiencies, rising compliance requirements, and complex reconciliation processes. While traditional automation improves individual tasks, the white paper demonstrates that Agentic AI represents a fundamental shift by enabling intelligent agents to coordinate entire payment journeys across systems, counterparties, and approval workflows.

Drawing on Sunrate’s global payment infrastructure and AI-native product capabilities, together with Mastercard’s expertise in secure payment networks and data intelligence, the white paper defines Agentic Global Payments — a new category of AI-native global payment infrastructure built to automate and manage complex enterprise workflows.

The report identifies 16 major pain points across the B2B payment lifecycle and outlines 13 high-value AI use cases spanning supplier onboarding, accounts payable and receivable, virtual commercial cards, payment routing, foreign exchange management, compliance screening, fraud detection, reconciliation, and conversational operational support. It also demonstrates how AI agents can automate complex workflows—from extracting information across multiple document formats and conducting compliance checks to initiating payments, optimising FX execution, and completing reconciliation—while operating within enterprise governance and control frameworks.

The white paper further highlights that trusted adoption of agentic payments depends on more than technological capability. It identifies governance, transparency, security, and ecosystem collaboration as essential foundations for enterprise deployment, supported by frameworks such as Know Your Agent (KYA), payment tokenisation, auditability, and cross-industry interoperability.

Sunrate.AI portfolio currently includes the Payment Agent, FX Agent, Compliance Agent, Onboarding Agent, and Chat Agent, designed to help enterprises automate and optimise critical payment and treasury processes while maintaining compliance and operational control.

Mastercard has also been actively building the foundations for trusted agentic commerce – combining AI capabilities with verifiable authorisation, clear accountability and proven payments security. Its work in this area, including Agent Pay (alongside Agent Pay for Machines) and Verifiable Intent, are proof points in how Mastercard is enabling AI to participate in commerce safely and transparently. 

“Our mission is to make global payments seamless, compliant, and intelligent,” said Paul Meng, Co-founder and CEO of Sunrate. “As businesses continue expanding internationally, AI agents will fundamentally reshape how enterprises manage global payments—enabling smoother capital flows, reducing operational friction, and embedding real-time intelligence into every payment decision. This white paper represents an important step in helping the industry understand how Agentic AI can be deployed responsibly at enterprise scale.”

“Agentic commerce is changing how businesses make and execute payment decisions, but speed without accountability creates new categories of risk,” said Anouska Ladds, Executive Vice President, Commercial & New Payment Flows, Asia Pacific, Mastercard. “As AI starts to act on behalf of businesses, autonomous payment decisions need a clear, auditable chain of identity, intent and action. That’s what allows organisations to delegate with genuine confidence — and what will determine whether agentic commerce scales past pilots.”

Released under WAIC 2026’s theme, “Intelligent Partners, Co-creating the Future,” the white paper provides business leaders with practical guidance on adopting AI-driven payment capabilities, covering implementation approaches, governance considerations, and real-world enterprise applications.

By combining Sunrate’s expertise in global payments and treasury management with Mastercard’s trusted payment infrastructure and network capabilities, the collaboration reflects a shared commitment to accelerating the next generation of intelligent, secure, and autonomous B2B global payments.

Click here to check the white paper.

About Sunrate

Sunrate is a leading global payment and treasury management platform for businesses worldwide. Founded in 2016, Sunrate has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge infrastructure, global network, and unified solutions.

Sunrate operates through offices across key markets, including Singapore, Kuala Lumpur, Jakarta, Hong Kong, Shanghai, and London. The company partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan. Sunrate is also the principal member of Mastercard and Visa. To learn more about Sunrate, visit https://www.sunrate.com/.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. 

www.mastercard.com

SOURCE Sunrate

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JAMS Launches AI for Enterprise Job Scheduling: JAX and JAMS MCP

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A new AI agent and an open-standard connector let IT teams query, diagnose, and manage automation in plain language, on the model they choose, with operational data able to stay onshore inside their own network

SYDNEY, July 24, 2026 /PRNewswire/ — JAMS Software, an orchestration solution for scheduled and event-driven automation, today announced the general availability of two AI capabilities for enterprise job scheduling: JAX, an AI agent built into the JAMS Web Client, and JAMS MCP, a connector built on the open Model Context Protocol standard that brings JAMS into external AI coding tools. Both capabilities ship at no additional cost as part of JAMS Web.

Automation environments grow faster than the teams that run them. Jobs multiply across SQL Server, Azure Data Factory, Airflow, SAP, JDE, and Banner, and when one fails, finding the root cause often means searching several consoles at once, frequently outside business hours. At the same time, IT leaders carry pressure to adopt AI while staying accountable for where operational data goes. JAX and JAMS MCP close both gaps together.

Full details on how JAX and JAMS MCP work, including the control model behind every action, are available at jamsscheduler.com/product/ai.

JAX is an AI agent that runs inside the JAMS Web Client. It finds jobs, troubleshoots failures, and answers how-to questions in plain language, with each response grounded in the JAMS user guide and checked against a built-in glossary. JAX acts only when a user asks it to. Reads flow freely, and every write action pauses for the user’s explicit approval before it runs. JAX does not learn between sessions, and conversations are not retained on the server.

JAMS MCP is a connector, built on the open Model Context Protocol standard, that brings JAMS into the AI tools engineering teams already use, including Cursor, VS Code with Copilot, Claude Code, Claude Desktop, and Codex. Users query jobs, investigate failures, and manage runs in plain language without leaving their tool.

Both capabilities run inside the customer’s own network and act as the signed-in user, with that user’s exact JAMS permissions. There is no elevated AI account: whatever a user cannot do in the JAMS interface, JAX and JAMS MCP cannot do on that user’s behalf. Every JAX and MCP operation is recorded in its own dedicated log, and changes made through the JAMS API land in the JAMS audit trail like any other change. Customers choose their own AI model, whether a commercial provider such as OpenAI or Anthropic or a model running entirely on their own hardware, and JAMS never trains on customer data. In the current release, neither feature edits or deletes a job, folder, schedule, or agent definition. For teams that need operational data to stay onshore, JAX runs on a local model entirely inside the customer’s own network, so nothing leaves at all.

“Adopting AI usually means giving something up, most often visibility into where your data goes,” said Pete Hegland, Chief Executive Officer of JAMS Software. “We built JAX and JAMS MCP so that trade does not have to happen. Every action runs as the signed-in user, every change waits for approval, and the model can run on the customer’s own hardware, keeping operational data onshore.”

“For teams across Australia, New Zealand, and Singapore, two things matter: keeping data onshore, and getting answers when a job fails after hours,” said Shayne Cooper, Account Executive for APAC at JAMS Software. “JAX and JAMS MCP address both. The model can run on the customer’s own hardware, and the answer arrives in plain language at the moment it is needed.”

JAX and JAMS MCP are available now to all JAMS Web customers across Australia, New Zealand, and Singapore, with no separate licence, SKU, or additional cost. AI-assisted creation of new jobs and workflows from a plain-language description is on the roadmap for a future release, gated by the same approvals and permissions as every other action.

Learn how JAX and JAMS MCP work at https://jamsscheduler.com/product/ai.

Fast facts

JAX is an AI agent built into the JAMS Web Client for job scheduling and workflow automation.JAMS MCP is a connector built on the open Model Context Protocol standard, for Cursor, VS Code with Copilot, Claude Code, Claude Desktop, and Codex.Both act as the signed-in user, with that user’s exact JAMS permissions, and there is no elevated AI account.Customers choose the AI model, including a local model that runs entirely inside their own network.JAMS never trains on customer data.Both are available now at no additional cost as part of JAMS Web.

About JAMS Software
Founded in 1987, JAMS Software is an orchestration solution that helps IT teams centralize, automate, and manage scheduled and event-driven jobs across complex, hybrid environments. Over 850 customers rely on JAMS to run their automated workloads. JAMS Software, LLC is headquartered at 108 Patriot Drive, Suite A, Middletown, DE 19709.

Media Contact
Bobby Schmidt, Vice President of Marketing
press@jamssoftware.com
800.261.4267

 

 

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