Contract Management Software Market Sizing and Status Report
Industry Research > 05/12/2008
Contract Management
There is no doubt that contract management is a complex area, seen in most organizations as highly specialist. In others, it is viewed as largely administrative. These divergent views have resulted in some confusion over the options – and requirements – for automation. It can be hard for management (especially within the Information Systems organization) to distinguish between 'pure play' contract management applications, and modules or functions within wider applications, such as spend management or ERP. This lack of clarity seems likely to have been a contributor to the inaccuracy of forecasts - both because of disagreement over what 'contract management software' really is, plus the fact that many Information Systems departments would either not be aware of plans in this area, or do not understand the subtle differences.
IACCM has advocated the adoption of contract management software for several years. While having reservations over the maturity and functionality of the available options, our benchmarks have shown that the benefits for most organizations are significant. In part this is because of the value from the system itself, but also because of the disciplines it brings in defining process and establishing controls.
This report is the result of an extensive and authoritative study to establish corporate buying intentions in 2007 / 2008. It was undertaken by IACCM, with participation by members of the Institute for Supply Management (ISM) and resulted in inputs representing more than 400 organizations, with combined annual revenues of more than US$8trillion.
