Ironclad, the #1 CLM for innovative companies, was recognized as a Leader in The Forrester Wave™: Contract Lifecycle Management (CLM) For All Contracts, Q1 2021.
The Forrester Wave™ is the world’s leading independent analyst publication on CLM. Forrester is one of the world’s largest and most influential research and advisory firms. According to Forrester’s rigorous 32-criterion evaluation, Ironclad received the highest score possible in the criteria of Client Experience & References, Draft Contract Generation, Contract Process Management, Artificial Intelligence Strategy, Planned Enhancements, Intellectual Property, Employment, and Other Contracts, and more.
“Ironclad has quickly emerged as a popular CLM choice… and shows strengths in the CLM areas that are most important to legal staff: contract creation (especially draft contract generation that is built directly on the Microsoft Word code base) and contract optimization.” —Forrester Wave™ 2021
Highest Score Possible in Customer Experience
Ironclad received the highest score possible in the Client Experience and References criteria. “Its clients gave it above-average scores for both usability and vendor support,” wrote Andrew Bartels, Vice President and Principal Analyst at Forrester and lead analyst for the Report.
In the past year alone, Ironclad has been adopted by leading innovators across industries, such as Mastercard, Thumbtack, and Canva. Ironclad puts self-service and ease-of-use for end users at its forefront, so that any team member, whether a new salesperson or a seasoned legal operations manager, can streamline their contracts while guaranteeing compliance and business intelligence.
Since the onset of COVID-19, customers specifically used Ironclad to pivot and adapt to remote collaboration. “The team at Ironclad has been such collaborative, amazing partners,” said Anushree Bagrodia, Senior Managing Counsel & Legal Transformation Lead at Mastercard. “They really listen to what our problems are and are so proactive in helping us solve these new challenges.”
Highest Score Possible in Contract Generation & Management
Ironclad also received the highest score possible in both the Draft Contract Generation and Contract Process Management criteria.
“Ironclad shows strengths in the CLM areas that are most important to legal staff: contract creation (especially draft contract generation built directly on the Microsoft Word code base) and contract optimization,” wrote Bartels. “But it has expanded its focus to other stakeholders… and has strengths in contract management and execution and contract optimization.”
Unlike existing contract lifecycle management solutions that are geared towards certain use cases, Ironclad is the only CLM solution flexible enough to handle all types of business contracts, whether for sales, procurement, marketing or HR.
Highest Score Possible in AI Strategy
In addition, Ironclad earned the highest score possible in Artificial Intelligence Strategy criterion. “Its AI strategy combines elements of Google’s AI platform and Kira Systems with its own data scientists,” the Report noted.
Ironclad recently released the most powerful metadata extractor on the market, built using the latest Google AutoML technology. With Ironclad’s AI capabilities, customers who are alpha users are already working 50% faster and obtaining 3 times more contract data than before.
Want to learn more about Forrester Wave™ or how to choose a CLM solution? Download your copy of the Forrester Wave™ Report.
Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.
