REDWOOD CITY, Calif., Feb. 12, 2020 /PRNewswire/ — Agiloft, the global standard in contract and commerce lifecycle management, today announced five consecutive years of business growth, achieving a 134% increase in new sales, and a 56% increase in overall company headcount. Agiloft also grew its implementation team by 125% and its sales team by 45%.
“This was a pivotal year for Agiloft as we continued our strong growth, launched our AI Core, and hosted several customer advisory council events capped off with our inaugural Agiloft Summit 2019 in Las Vegas,” said Colin Earl, CEO of Agiloft. “We are thrilled to maintain this momentum with our partners and customers by continuing to drive platform innovations that deliver value across the entire enterprise.”
Channel Sales Partners
Agiloft doubled the number of partners in the Agiloft Partner Program in 2019, with the addition of partners like Adaptive Dynamics, Xeeva, and Periscope Holdings, to name a few. Agiloft also realized a 150% growth of annual reoccurring revenue from partners over the past two years and a 280% increase of certified partner implementers over 2019.
New AI Core and Product Roadmap
The company’s record year is also attributed to the introduction of the Agiloft AI Core, which provides pre-built AI models and allows customers to create custom AI models on Agiloft’s no-code platform. Agiloft’s prebuilt AI tools further automate contract management, reduce compliance risk, and empower teams of all sizes.
Agiloft Summit 2019
In 2019, Agiloft kicked off its inaugural Summit that brought together customers, partners, and staff to attend Agiloft training sessions as well as discuss emerging industry trends and how customers innovate with Agiloft to overcome challenges, boost productivity, and reduce risk.
At the Summit, Agiloft introduced the future of contract and commerce lifecycle management (CCLM). CCLM is an emerging contract-centric methodology that extends well beyond traditional contract lifecycle management. Using contracts as its core system of record, CCLM integrates the full scope of internal and external commercial systems to enhance security and compliance while driving enterprise-wide value creation.
Industry Awards and Recognition
Agiloft’s strong year was validated by several industry accolades. The company won the 2019 Excellence in Customer Service Award from Business Intelligence Group; Spend Matters listed Agiloft a Value Leader and Customer Leader in its Q4 2019 Contract Lifecycle Management SolutionMapfor the third consecutive quarter; SoftwareReviews ranked Agiloft Top ITSM Vendor for its “Emotional Footprint” and Ratio of Value to Cost and Capterra ranked Agiloft top five on its Top Contract Management Software List.