Conga, a specialist in commercial and revenue operations transformation, has acquired Contract Wrangler for an undisclosed sum. Contract Wrangler applies artificial intelligence (AI) and machine learning (ML) to understand the terms and obligations in contracts that impact revenue, risk and cost once the contract is executed.
With the combination, companies of all sizes will be able to holistically manage all of their contracts, whether on the company’s or third-party paper, to manage risk while optimising revenues.
Conga offers a full suite of revenue contract management capabilities spanning document creation, contract and lifecycle management and configure, price and quote capabilities that work to automate and manage complete revenue operations processes.
“With our acquisition of Contract Wrangler, we’re extending our leadership in helping companies manage their revenue contracts,“ says Conga CEO and culture leader, Noel Goggin. “Together, we’ll empower companies to manage risk, compliance and obligations, while maximising their revenue potential.“
“Contract Wrangler’s ability to help companies gain actionable insights from all their contracts is unparalleled and a perfect complement to the Conga commercial and revenue operations solutions,“ comments Contract Wrangler CEO, John Gengarella. “With Conga’s global go-to-market and services capabilities, we’ll have an incredible opportunity to accelerate our growth as part of a market leader.“
“We are delighted to bring customers a fully integrated, native, AI-based contract ingestion capability,” says Conga chief product officer, Grant Peterson. “Giving customers the option to quickly and accurately ingest their contract legacy will fuel renewals, facilitate search, enable risk analysis and expand the value of our contract lifecycle management product family.”
Uncovering critical insights within all contracts
With contracts being critical to every business, Conga says it has become essential to transform manual and disjointed processes to improve employee and customer experiences, increase accuracy, speed cycle times and lower risk.
Brands such as Lucidchart, Zscaler, and HomeLight rely on Contract Wrangler to uncover actionable insights across all their contracts. Over the past five years, Contract Wrangler has experienced strong growth as a gained reputation for unparalleled accuracy.
Contract Wrangler ingests all of a company’s contracts, whether they be on the company’s or third-party paper. Once ingested into the Contract Wrangler platform, it applies machine learning and Attorney-in-the-Loop verification to accurately extract and organise all of the key terms and clauses from the contracts.
The Contract Wrangler platform then provides an intuitive interface to operationalise the insights, allowing the company to act on critical dates, terms and clauses to capture opportunities, meet obligations, control spend and mitigate risks.
Conga will bring Contract Wrangler to market as Conga Contract Intelligence. Conga Contract Intelligence will be sold standalone and as a value-added capability to Conga’s existing contract and lifecycle management (CLM) solutions.
Follow us and Comment on Twitter @TheEE_io