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SAN RAMON, CA, March 11, 2021 /24-7PressRelease/ -- App Orchid, a leading enterprise AI platform company announced that it received its first in-depth analyst coverage for ContractAI, a fast-growing AI-powered contract management tool in the CLM (Contract Lifecycle Management) space that leverages AI to transform the contracting process, dramatically improving the analysis, creation and negotiation of contracts.
Spend Matters, a leading procurement analyst firm conducted an extensive profile of ContractAI which included product analysis and voice of customer studies. Spend Matters assessed solution and technology capabilities in context of the CLM market today. Built on App Orchid's enterprise AI platform, ContractAI was recognized by Spend Matters as having the most sophisticated AI model as compared to its peers.
"We are thrilled to be a part of Spend Matters' analyst coverage. Spend Matters has been the leading source for procurement solutions intelligence. The positive feedback for ContractAI is a huge testament to our amazing team that has built this truly transformative solution on our enterprise AI platform," says App Orchid's chief executive officer, Vaibhav Nadgauda.
"The time since its initial conception and pilot has been only a couple of years, and in that time, it has managed to produce a respectable set of customer references," said Nick Heinzmann, Research Analyst, Spend Matters. "It would seem the solution is well-positioned to address a key procurement pain point readily — if it can more deeply break into an already highly competitive CLM market with a lot of "noise" about the promise of AI. ContractAI certainly has the technical bona fides to do so."
ContractAI is an AI-powered SaaS-based solution that leverages AI to transform the contracting process, dramatically improving the analysis, creation and negotiation of contracts. ContractAI is built on App Orchid's proven Enterprise AI platform that helps enterprises build powerful, predictive AI apps quickly. App Orchid has more than 20 apps in production at Fortune 1000 companies and has accrued a range of accolades including being named the 2nd fastest growing company in Silicon Valley by Deloitte.
About Spend Matters:
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners Inc.
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