December 7 by Jason Smith
The Corporate Legal Operations Consortium (“CLOC”) has released its inaugural “State of the Industry Survey” based on results from over 150 companies in the group. Those companies represent 32 industries in 11 countries and $3.3 trillion in collective revenue. The survey provides insight into areas important to legal operations like outside counsel management and technology use.
According to Mary O’Carroll, Head of Legal Operations at Google and a founding member of CLOC, “Adoption of new practices and new technologies are still in the beginning phases and there is a lot of fragmentation in the service provider space. This continues to be a incredibly dynamic and fast changing industry to be in.”
Under the section covering technology, there are just two categories: E-billing and Contract Management. With the general consolidation of matter management and e-billing in recent years, it’s not uncommon to see the two combined like it is here. It’s exciting to see, however, that Contract Management has finally become a mainstream legal department technology such that it’s included as one of the two types of technology covered in such an important user-driven survey.
Even more exciting is that the 2017 CLOC Survey provides yet another impartial validation of Apttus as the clear leader in the Contract Management market as well as a major player in the legal technology space.
In the section entitled “Commonly Used Contract Management Systems” there are roughly 34 vendor options listed with a percentage of use among the 54% of CLOC members who said they have a CLM system in place. 6 of the vendors listed account for 58% of the market share.
Apttus is at the top of the list and the only vendor listed with a double digit market share percentage. In fact, Apttus’ market share is 30% greater than the next closest vendor and is equal to almost 60% of the other named vendors COMBINED.
While some vendors spend all of their time and effort creating misleading press releases and suspect social media blitzes, we’re just over here delivering successful outcomes to our customers.
You see, I could tell you every day how great Apttus is – afterall, I left a successful, booming consulting practice to join the rocketship almost 4 years ago – but there’s nothing better than the credibility that a survey like this delivers to the market. As I often tell people, “Don’t just take my word for it…”