Contract Analytics Software

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Contract Analytics Software

What is it?

Contract Analytics is a tool that helps companies keep their agreements the same. It uses AI to find any problems in contracts quickly. Teams use it to keep track of important details in contracts like when they end, when they can be canceled, and when they can be extended. Features usually include:

• Identify and organize contracts to eliminate duplicates

• Extract and analyze contract information, like keywords, payment terms, and obligations using AI

• Generate custom reports populated with extracted content

It's not a full-on lawyer replacement - it just saves time on lower-value legal work.

Who’s the buyer?

Usually, someone from the legal team buys the tool. 

17% of buyers are in the SMB segment, 55% in the mid-market, and 28% in the enterprise market.

What is the problem?

Contract Analytics software helps companies avoid the risk of human error when reviewing and finalizing contracts by quickly identifying potential risks in contracts, reducing the time required for contract review, and improving visibility into contract performance (on contracts sent to customers).

How big is the market?

The top 10 players bring about $340M in revenue. The combined annual revenue of all players in the market is north of $1.5B.

How fast is it growing?

In the past 3 years, the market's supply side has grown 3900% with an average of 457% year-over-year growth. 

Who are the top 10 players?

How much are people paying?

Companies spend $15,000 to $100,000 per year on contract analytics. 

How are they buying?

Sales-assisted motion only.

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