Agiloft has added another legal vendor and consulting firm to its partner ecosystems. Kroll, a leading independent provider of risk and financial advisory solutions with over 6,500 employees across offices in 34 countries, has joined Agiloft’s global network of service partners. This is the next step in a relationship that saw Kroll sponsor the Agiloft Summit at the start of the year.
Kroll offers a wide range of consulting expertise, including contract management expertise. Its service helps firms analyze and enhance the management of contracts throughout their lifecycle. Besides Agiloft, it also works with Conga, DocuSign, Mitratech and Onit. It offers services across five areas of expertise.
- Centralized Contract Repository
- AI and Contract Management Automation
- Improve Your Process Efficiency
- Ensure Contract Compliance
- End-to-End Contract Lifecycle Management Expertise
Leveraging Agiloft Kroll will help clients increase operational effectiveness, strengthen regulatory compliance, and reduce security risks.
Mike Stevens, Managing Director and Global Head of Contract Lifecycle Management Practice at Kroll said, “Agiloft’s user-friendly platform, exceptional use of AI, and best-of-breed service delivery and support ensure they remain a leader in the growing CLM software market, and we are excited to add them to the portfolio of business services we offer our customers. With its robust AI capabilities and unmatched configurability, Agiloft makes it possible for us to customize contract transformation for our clients, providing them with a rapid path to implementing a powerful and cost-effective business solution.”
Agiloft powers up
The formalisation of the relationship between the two companies is significant for Agiloft. Agiloft has added a major partner. Kroll has worked with some of the largest firms across M&A, cybersecurity, and finance. In industries as diverse as Financial Services, Media, Life Sciences, Sport, Energy, and High Tech. This breadth of engagement and customer base is good news for Agiloft as it seeks to expand its footprint worldwide.
Steve McKean, Agiloft’s VP of Global Alliances, said, “We are delighted to continue the expansion of our global services network through the addition of a new partner, Kroll. Kroll’s Corporate Legal Solutions practice has extensive experience selecting, implementing, and upgrading contract management systems across the enterprise.
“Stevens and his team support legal and contracting professionals to implement scalable, robust contract management and governance frameworks that meet their contracting and compliance needs while gaining operational effectiveness. They are also well-versed in AI and contract management automation, offering invaluable, frontline expertise to help organizations select the best solution for their organization.”
Kroll will also be able to take advantage of AI trainer, which was part of its summer release. It can add its expertise to the AI trainer. The system will help Kroll deliver meaningful insights to clients even faster.
The new feature could be extremely useful in the event of an M&A engagement; able to ingest and understand contracts quickly. It can draw actionable insights from the data to better understand a business as it completes a merger or divestment.
Enterprise Times: What does this mean
Becoming a full-service partner means that Kroll can now help customers design, architect, build, migrate, and manage their business initiatives utilizing Agiloft’s products. They can also resell Agiloft and, in theory, will now build out a practice. Gaining certifications to further enhance their expertise. Kroll is the sixteenth services partner and a significant addition to the list.
What is missing from this announcement is the size of the Kroll team and what joint go-to-market initiatives the firms will now pursue. Agiloft has not yet announced whether it will hold another Summit in 2024. By this time in 2022, it had already announced the 2023 event. It may mean that Agiloft will hold off hosting another event immediately. However, it may hold the event later in the year again. In 2019, it was held in October.
Hopefully, Kroll will also be able to add a case study around the implementation of the Agiloft CLM platform to its existing list of customer stories. Becoming a partner is a first step, being able to talk about the successes is another for both organisations and the partnership.