Content collaboration tools provide an easy way for employees to use and share content both inside and outside the organizations. Since these tools can be used to collaborate with customers, partners and suppliers, they often provide rich security and privacy controls. Today, much of this functionality also can be found in other tools such as cloud office platforms, workstream collaboration platforms, content services platforms and content services applications. Functional differentiators in dedicated CCTs are difficult to identify.
Gartner defines contract life cycle management (CLM) market as a solution that proactively manages contracts from initiation through negotiation, execution, compliance and renewal. In this context, a contract is any agreement or contractual document containing rights and obligations that affect an organization now or in the future (e.g., a nondisclosure agreement). CLM solutions allow organizations to create, negotiate and store contracts in a centralized repository. Using these solutions helps mitigate organizational risk by enabling regulatory and policy compliance, providing governance over what is signed and with whom, and role-based access to terms and obligations with third parties. CLM solutions drive visibility, consistency and efficiency in the contracting process across an enterprise. Use cases are primarily aligned to parts of the process, such as presignature and postsignature. Different departments often prioritize a certain use case based on their involvement in the contracting process.
Corporate Compliance and Oversight (CCO) tools provide the framework and support for standardization of compliance activities and automation to increase efficiency and effectiveness of compliance management programs. CCO enables a common cross-enterprise approach to IT compliance activities that most affect the regulatory oversight of corporate governance. This is done through support of the five major requirements for managing a compliance program: policy development, aggregation and normalization, control monitoring, workflow management, and case management.
The corporate legal operations technology market consists of vendors offering platforms to enhance corporate legal department operations and workflows. Products in this market are sold to in-house legal departments as single solutions or integrated suites, often marketed as enterprise legal management technologies. The products most commonly provide e-billing and spend management; external matter management; intake, triage and service management; and workflow automation capabilities, among others.
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The e-discovery solutions market comprises vendors offering technology solutions that facilitate the electronic discovery process. E-discovery solutions specialize in one or more areas to identify, collect, preserve, process, review, analyze and produce electronically stored information (ESI). ESI fulfills legal and compliance requirements for discovery that result from a variety of investigative scenarios. The scope of ESI often includes data sources, such as digital communications, file systems, cloud office platforms, endpoints, databases and applications. E-discovery solutions market includes software vendor offerings for a customer’s own deployment on-premises and in cloud infrastructure, as well as hosted offerings provided by software vendors and services providers.
Enterprise social networking applications facilitate, capture and organize open conversations and information sharing between individual workers and groups within an organization. In addition to capabilities that support conversations and information sharing, they can keep track of the network of relationships between participants (via social graphs), in order to deliver a personalized stream of updates about events or conversations to individuals (via news feeds and activity streams). These applications help people find out about each other, have discussions, share information and generally interact. Interaction occurs either at a one-to-one level, or in groups, teams, communities and networks, and in the context of structured or unstructured business activities.
Legal Research Software is a tool designed to assist legal professionals in conducting legal research and accessing relevant legal information. It provides access to comprehensive legal databases, case laws, statutes, regulations, legal journals, and other legal resources, as well as tools for searching, filtering, and citing legal documents to help users refine their queries and find precise results. It also integrates with other legal tools and platforms such as case and document management systems and legal writing sofware, which allows for seamless transfer of information and enhances overall productivity. All in all, Legal Research Software helps lawyers and legal researchers find relevant legal information to support their legal arguments, stay updated on legal developments, and make informed decisions.
Tax software solutions help businesses manage and file their taxes, stay compliant with tax laws and regulations, and reduce the risk of errors and penalties. The primary functions of tax software include calculating tax liability, generating tax forms and reports, and electronically filing taxes with domestic and cross-border tax authorities. It includes collaboration tools to allow tax teams to work together on tax preparation and filing and can be integrated with other applications to streamline the tax compliance process. Additionally, the software can be an integrated compliance suite or specific to individual processes such as provision, indirect tax, and transfer pricing.
The compliance third-party risk management (TPRM) solutions market consists of vendors offering technologies to CCOs, among other senior leaders responsible for TPRM, to manage the risks associated with due diligence and/or ongoing monitoring of third-party vendors, distributors, agents, partners or other parties. Products in this market are often capable of supporting a range of TPRM workflows across multiple risk terrains. Risks specifically addressed may include anti-bribery and anti-corruption (ABAC), anti-money-laundering, data management and supply chain, and business continuity risks among others.