Cygnet Infotech has announced a partnership with smartContract CLM to augment its existing digital signing solution, Cygnature, and provide a comprehensive contract lifecycle management (CLM) solution to its customers. Catering to a global market that is projected to reach a size of $2.2 billion by 2024, Cygnet Infotech aims to establish a significant presence in the Cloud-based CLM segment by leveraging and integrating CLM capabilities into its Cygnature platform. This partnership will enable companies to elevate contract creation, review, execution, and post-execution experience for every business function while increasing compliance with the broadest range of legal requirements and following the most stringent security standards.
Researchers have concluded in multiple reports that organisations in India lose 9.2% of revenue annually due to poor contract management practices, and this partnership will help in reducing these losses for the enterprises in India.
Commenting on this latest development, Yogesh Lokhande, Business Head Cygnature elaborated, “We help clients accelerate their Digital Transformation through connected ecosystems. Our collaboration with smartContract CLM, a trusted Contract Lifecycle Management provider, will ensure that we are at the forefront of offering unique CLM solutions for organizations’ business challenges. We are confident that together with smartContract CLM, Cygnature will unlock even more efficiencies for businesses and will strengthen its position as a preferred digital contract signing and management solution.”
Distinguished by its flexible configuration and the ability to be tweaked to specific business requirements, smartContract CLM boasts of advanced features such as AI-powered My Contract Assistant, robust obligation management, Word Add-In, and Email Add-in.
Speaking on the importance of this partnership, Amit Garg, Founder of smartContract CLM, said, “integration with Cygnature further enhances our ability to deliver an end-to-end contract management experience with seamless consistency to our clients, including the ability to digitally create, execute, understand, and manage contracts with simplicity. Counted amongst the leading CLM systems available today, smartContract CLM is trusted by some of the largest organizations and is flexible enough to solve contracting challenges as they evolve. With our association with Cygnature, both companies will benefit from each other’s core technological capabilities and provide a more technologically advanced solution for every contract management need.”