Evisort Named a Visionary in 2024 Gartner® Magic Quadrant™ for Contract Life Cycle Management
Evisort, a Workday company specializing in AI for contract lifecycle management (CLM), has been recognized as a Visionary in the 2024 Gartner® Magic Quadrant™ for Contract Life Cycle Management for the third consecutive year. The company recently became the first CLM provider to receive ISO 42001 certification for responsible AI development and use. Evisort has introduced key innovations in the past 12 months, including a dedicated large language model (LLM) and an advanced AI orchestration layer. They also launched Document X-Ray™ and Ask AI, features designed to provide actionable insights from contracts and related documents. The company's recent acquisition by Workday (NASDAQ: WDAY) is expected to enhance its ability to help customers leverage critical business data more effectively within a single system of truth.
- Recognized as a Visionary in the 2024 Gartner® Magic Quadrant™ for CLM for the third consecutive year
- First CLM provider to receive ISO 42001 certification for responsible AI development and use
- Introduced key AI innovations including a dedicated LLM and advanced AI orchestration layer
- Launched Document X-Ray™ and Ask AI features for enhanced contract insights
- Acquired by Workday (NASDAQ: WDAY), potentially expanding market reach and capabilities
- None.
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.
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Gartner, Magic Quadrant for Contract Life Cycle Management, Kaitlynn Sommers, Lynne Phelan, Kerrie McDonald. October 2024.
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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
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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.
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SOURCE Evisort
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