Evisort Named a Visionary in 2024 Gartner Magic Quadrant for Contract Life Cycle Management

PRNewswire 17-Oct-2024 11:55 AM

SAN FRANCISCO, Oct. 17, 2024 /PRNewswire/ -- Evisort, a Workday company and a leading provider of AI for contract lifecycle management (CLM) and analysis, today announced its recognition as a Visionary in the 2024 Gartner® Magic Quadrant™ for Contract Life Cycle Management (CLM) for the third year in a row.*

Hundreds of companies trust Evisort's AI-native platform to provide total visibility into their contracts to help surface risk, spot financial opportunities, and manage obligations across the agreements that comprise their businesses.

Evisort recently became the first CLM provider — and one of the first companies in the world — to receive an International Organization for Standardization (ISO) 42001 accredited certification for responsible development and use of AI, a significant achievement that underscores Evisort's commitment to ethical AI practices and governance.

The recognition from Gartner and ISO 42001 certification follow a 12-month period that saw Evisort extend its AI leadership with several key innovations, including a dedicated large language model (LLM) and an advanced AI orchestration layer. The company also released  Document X-Ray™ and Ask AI, two breakthrough AI features designed to empower businesses with easy access to actionable insights about the terms within their contracts and related transactional documents.

"We believe this recognition is a testament to our commitment to push the boundaries of how AI can deliver complete document intelligence," said Evisort Co-Founder Jerry Ting. "With innovations like Document X-Ray and Ask AI, we're helping organizations unlock critical insights from their documents to drive smarter, faster business decisions."

Evisort was recently acquired by Workday (NASDAQ:WDAY), a leading provider of solutions to help organizations manage their people and money. The acquisition reinforces and expands Evisort's ability to empower customers to leverage critical business data more effectively, within a single system of truth.

For a complimentary copy of the 2024 "Magic Quadrant for Contract Life Cycle Management," please visit here.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. 
Gartner, Magic Quadrant for Contract Life Cycle Management, Kaitlynn Sommers, Lynne Phelan, Kerrie McDonald. October 2024.
GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Workday

Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com.

© 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

About Evisort

Evisort's AI-native contract intelligence platform helps global organizations know everything about their contracts. With advanced, proprietary AI – including a proprietary large language model (LLM) specially trained for contracts – Evisort empowers teams to draft, manage, analyze, and optimize their agreements faster and more intelligently, enabling them to expedite deals, reduce risk and cost, and transform legal and contracting challenges into strategic business opportunities.

* Source: Gartner, "Magic Quadrant for Contract Life Cycle Management," Kaitlynn Sommers, Lynne Phelan, Kerrie McDonald. 14 October 2024.

View original content to download multimedia:https://www.prnewswire.com/news-releases/evisort-named-a-visionary-in-2024-gartner-magic-quadrant-for-contract-life-cycle-management-302279541.html

SOURCE Evisort