With an average of 8.6% of value "leaking" from every contract, a new approach—developed specifically for the procurement and legal partnership—ensures contractual obligations from suppliers, vendors and partners don't fall through the cracksSAN FRANCISCO, April 10, 2025 /PRNewswire/ -- Ironclad , the leading AI-powered contract lifecycle management platform, today announced new features to help procurement and legal teams drive the most value out of their contracts by addressing the 8.6% of annual spend lost to "contract value leakage" due to poor visibility and missing supplier commitments. These new capabilities, including Obligation and Entity Management, a new unified dashboard, and custom AI data extraction capabilities, connect supplier contracts, surface contractual commitments, and streamline supplier and vendor relationship information in a single simple, intuitive new UI that acts as a single source of truth.To learn more about these new procurement product capabilities, please visit the Ironclad blog here ."Most supplier and vendor contracts come with obligations – like meeting service level commitments, implementation milestone payments and purchase volume discounts, or clauses dealing with global incidents like tariffs and pandemics – that carry real monetary value, yet are often overlooked after the contract is signed," said Michel Feaster, Chief Product Officer at Ironclad. "If you think about $8 out of every $100 of your contract value going out the window, this can quickly become a million-dollar issue. Connecting these dots is just one-way Ironclad is helping procurement and legal teams drive real business impact."The new capabilities, focused on standardizing supplier information and managing those obligations, allow Ironclad users to:See a complete picture of every supplier relationship : With a refreshed, unified dashboard and new Entity Profile Pages, see all contracts, commitments, and history with any business partner in one unified entity profile view.: With a refreshed, unified dashboard and new Entity Profile Pages, see all contracts, commitments, and history with any business partner in one unified entity profile view. Protect contract value and manage risks : Ironclad's latest capability, Obligation Management, allows users to systematically track critical contractual commitments by assigning clearly defined tasks and ownership, ensuring supplier accountability throughout the contract lifecycle.: Ironclad's latest capability, Obligation Management, allows users to systematically track critical contractual commitments by assigning clearly defined tasks and ownership, ensuring supplier accountability throughout the contract lifecycle. Keep contract data clean and standardized : A new centralized database of Entity Profiles automatically synchronizes supplier and customer data with existing business systems, eliminating manual data entry and ensuring counterparty information stays accurate, up-to-date, and standardized across the entire organization.: A new centralized database of Entity Profiles automatically synchronizes supplier and customer data with existing business systems, eliminating manual data entry and ensuring counterparty information stays accurate, up-to-date, and standardized across the entire organization

Noted for its market share with both tech companies and those undergoing digital transformation, "companies that require flexibility and control" should look at IroncladSAN FRANCISCO, Feb. 20, 2025 /PRNewswire/ -- Ironclad , the leading contract management platform for modern businesses, announced today that it has been positioned in the Leaders category in The Forrester Wave™: Contract Lifecycle Management Platforms, Q1 2025. Ironclad was cited for its significant market share among technology companies and those undergoing digital transformation. The report also cited Ironclad's self-service capabilities, especially speed and ease of creating workflows without relying on IT resources, and forward-thinking approach to innovation. According to the report, "Companies that require flexibility and control" should look at Ironclad.Click here to see the full The Forrester Wave™: Contract Lifecycle Management Platforms, Q1 2025.The Forrester Wave™: Contract Lifecycle Management identified the 12 most significant CLMs and evaluated them based on 26 different criteria. The Forrester team researched, analyzed, and scored each vendor to show how each measures up and helps contract management professionals select the right vendor for their specific needs.Ironclad received the highest scores possible in the following criteria: Contract Digitization, Sell-side Contracts, Legal Operations, Contract creation, contract review, negotiation, and execution, Interoperability, Workflow, Reporting and visualization, Usability, Contract self-service, and edge use cases