The market research and advisory firm Aragon Research has named the contract management company Evisort as one of three emerging “hot vendors” in workflow and content automation.
In the newly published research report, Hot Vendors in Workflow and Content Automation, 2021, Aragon’s analysts reviewed key trends in workflow and content automation and identified three providers who are making a difference in the market.
Evisort was the only legal technology product included in the report.
“Enterprises are learning the hard way that it is not sufficient to store and management content,” Aragon said. “The enterprise content management era is on the way out, and the shift to WCA platforms is occasioned by the realization amongst business leaders that automation and intelligence can expand the value of content.”
Evisort’s software uses AI to extract important information from enterprise contracts such as expiration dates, automatic renewals, and key legal clauses, and then enables legal, procurement and sales teams to centrally create, manage and analyze contracts.
Earlier this year, Evisort announced a Series B funding round of $35 million, bringing its total funding to $55 million.
“We set out to eliminate the tediously manual contract processes that increase risk, add costs, and slow deals for businesses,” Jerry Ting, cofounder and CEO, said in a statement. “We feel that our inclusion in the Hot Vendor report is further validation that the market needs the new approach to contract management that Evisort delivers.”
The full Hot Vendors report is available for purchase from Aragon for $495.