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Ironclad is a Leader in 2021 Forrester Wave™: Contract Lifecycle Management

February 24, 2021 2 min read
Forrester Wave Badge 2021

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, Strava, 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.

About Ironclad

Ironclad is the #1 contract lifecycle management platform for innovative companies. L’Oréal, Staples, Mastercard, and other leading innovators use Ironclad to collaborate and negotiate on contracts, accelerate contracting while maintaining compliance, and turn contracts into critical carriers of operational business intelligence. It’s the only platform flexible enough to handle every type of contract workflow, whether a sales agreement, an HR agreement or a complex NDA. The company was named one of the 20 Rising Stars on the Forbes 2019 Cloud 100 list, and is backed by leading investors like Accel, Y Combinator, Sequoia, and BOND. For more information, visit www.ironcladapp.com or follow us on LinkedIn and Twitter.

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