Enterprises will go through the Response, Recovery, and Renew phases.
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As the business impact of the COVID-19 spreads, the contract life-cycle management software market is expected to have positive growth.
Companies across the globe are focusing on creating a Resilient Business Model in the Face of COVID-19. Vendors are continuing their ongoing operations while building resilient business models as the path to recovery from the pandemic is being carved out.
The recovery process involves various phases including:-
- Addressing Potential Impacts by Facilitating changes in Process Designs
- Identifying potential disruptions
- Assessing Impact on Critical IT infrastructure and Software System
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Emerging Opportunities with Key players
Contract Logix LLC
Contract Logix LLC offers contract life cycle management software named Premium CLM Platform.
Coupa Software Inc.
Coupa Software Inc. offers contract life cycle management software such as Streamlined Contracting for Increased Value and Decreased Risk.
Icertis Inc. offers contract life cycle management software such as Icertis Contract Intelligence (ICI) platform.
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Contract Life-cycle Management Software Market 2021-2025: Segmentation
The contract life-cycle management software market is segmented as below:
- North America
- South America
The contract life-cycle management software market is driven by the pricing strategies of vendors. In addition, the need to comply with regulatory requirements is expected to trigger the contract life-cycle management software market toward witnessing a CAGR of 20.47% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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