Aberdeen Study Predicts 20%+ Annual Growth Rate Through 2008 for Booming Contract Lifecycle Management Market; Expect Further Market Consolidation, Fueled by Pricing Pressures, and New Entrants From ERP, SRM, CRM, And on Demand Solution Providers

Business Wire, July 11, 2005

BOSTON -- Increased enterprise focus on financial and regulatory compliance, risk management, and profitability will fuel new investments in contract lifecycle management (CLM) automation, according to a new AberdeenGroup report.

In the "Contract Management Solution Selection Report," Aberdeen predicts that contract lifecycle management (CLM) application revenues will increase 27% this year, and maintain year-over-year growth rates above 20% through 2008, when Aberdeen expects the market for CLM applications and services to top $1.4 billion. Aberdeen also predicts increased market consolidation, fueled by pricing pressures and new entrants from ERP, SRM, CRM, and On Demand solution providers.

"Globalization, outsourcing, regulations, and pressures for better financial performance are driving enterprises to gain better insights and controls for corporate contracts," said Tim A. Minahan, senior vice president of Supply Management Research and report author. "Effecting the change necessary to address these issues is difficult, if not impossible, without deploying and using a CLM solution."

In the course of its research study, Aberdeen assessed more than 40 CLM implementations and 20 CLM solutions. As a result, the report examines the criteria and best practice approaches of enterprises with top-performing contract management operations and solution deployments. It also includes frameworks to help enterprises assess their contract management competence, scope solution requirements, and select the best-fit solution.

To obtain a complimentary copy of the report, follow this link: http://www.aberdeen.com/summary/report/benchmark/RA_CMSolSelect_TM.asp

About Aberdeen Group, Inc.

Aberdeen Group provides fact-based research and insights focused on the global, technology-driven value chain. Aberdeen's benchmarking, market and solution assessments, sales acceleration programs, and conferences support Global 5000 value chain and technology executives -- and the solution providers who serve them. For more information, visit www.aberdeen.com or call 617-723-7890.