Founded in 2015, Provakil initially focused on practice management software for lawyers and law firms before expanding into enterprise solutions, with CLM functionality introduced in 2019. Beyond core CLM capability, Provakil’s offering provides a robust legal management product suite also covering matter management, disputes/litigation management, legal spend management, IP management, secretarial and compliance tasks. Provakil has developed integrations with over 10K courts in India, a system akin to the Pacer system in the US.
What is Contract Management?
Contract Lifecycle Management (CLM) is the process of strategically managing and leveraging the entire lifespan of legally binding agreements between two or more parties within a business context. CLM tools are evolving rapidly. Not long ago, CLM software described a relatively simple system for document management and e-signature. Today, mature CLM solutions employ AI/ML data capture capabilities to turn the contract management process into an intelligent, real-time system of record. For more about the evolution of CLM software, read The Six Stages of CLM Maturity.
What are MGI Use Case Notes™?
The MGI Use Case Note™ describes the ideal customer profile (ICP) for a given solution. It helps prospective buyers understand a product’s “best fit” by identifying its customers:
- size
- business models
- selling regions
- tech ecosystems
- sales channels
- primary verticals
- and more
The aim is to help interested parties quickly and confidently narrow the list of suppliers that could meet a particular use case. It is not intended to describe the entire range of possible use cases, nor is it an in-depth analysis of the supplier or solution. (For in-depth analysis of a solution, see MGI 360 Ratings™.) See a sample Use Case Note here.
Get the report to see Provakil CLM’s ideal customer profile:
