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.BOSTON -- Increased enterprise focus on financial and regulatory compliance, risk management, and profitability will fuel new investments in contract lifecycle management (CLM CLM - Career Limiting Move ) automation, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. 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 Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. 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 (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. , SRM (1) (Storage Resource Management) The management of the storage resources in an organization in order to avoid duplication of files and to determine space utilization across all servers. , CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. , and On Demand solution providers. "Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation , 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. |
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