Ecteon Closes Decade with Strong Growth in 2019, Substantial Growth Outlook for 2020

NASHVILLE, Tenn., March 2, 2020 —  Ecteon (www.ecteon.com), the nation’s leading authority for contract life management (CLM) software in complex contracting environments, announced today one of its strongest growth years in over a decade. The company momentum reflects Ecteon’s cutting-edge product innovation and the expansion of customer’s utilization, reach, and value of CLM in this rapidly growing market.

In 2019, Ecteon elevated its already strong position in the marketplace with steady license growth in its existing customer base, and an increase in new customers, including three of the largest healthcare networks in the Midwest and West Coast.

” Ecteon reports a healthy, growing pipeline of opportunities.  We expect 2020 to be another year of increasing adoption of CLM as CIOs, General Counsels, and CFOs recognize the value of high-functionality CLM to improve automation and control in their revenue producing and compliance operations.” said Richard Eckerstrom, CEO of Ecteon.

Contraxx Version 9, Ecteon’s lastest software update, propelled many large healthcare networks to expand their Ecteon license use in order to expand automation and contracting compliance across growing enterprises and realize a greater CLM value as industry operating costs rise. Additionally, Ecteon’s new artificial intelligence (AI) functionality, Exxtractor, has been met with strong interest from new and existing customers as AI business use-cases expand and are adopted.

Lonnie Blackwood, Ecteon’s Chief Technology Officer, added this: “A keen focus on innovation is what drives us to improve services and offerings to our customers. Constantly innovating to create leading-edge technological offerings keeps Ecteon as a top choice in the competitive world of contract management software.”

Ecteon is a standout CLM solution in segments where complex policy or regulatory compliance and tracking and reporting requirements are prevalent, including all Healthcare related segments, finance, multi-dimensioned higher education, and entertainment verticals.  For more information about Ecteon, its services and commitment to customers, visit Ecteon.com.

 

About Ecteon, Inc.

Ecteon is a contract management software company based in Nashville, Tennessee. Its premier enterprise contract management (CLM) system, Contraxx, helps companies manage complex contracting requirements. Ecteon offers unique insights that enable customers to effectively and reliably manage their entire contract life cycle, and then go beyond to develop contract processes as competitive advantage. Ecteon is a 100% employee-owned, private U.S. corporation. Ecteon has long-term, stable partnerships with referenceable customers across a wide range of vertical markets and industries such as media and entertainment, retail, energy, banking, insurance, and health care. Some of its recognizable clients include Blue Shield of California, Dick’s Sporting Goods, World Wrestling Entertainment (WWE), University of Pittsburgh, Universal Music and Kaiser Permanente. For more information, visit www.ecteon.com or follow them on LinkedIn.