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Contract Management Software

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ContractPodAi

4.5
(14)

Comprehensive AI-Powered CLM System for Corporate Legal Team

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Contract management software enables legal professionals from larger organizations optimize the efficiency of contract management lifecycle processes. A contract management solution stores, manages, translates and analyzes contracts and provides actionable information and metrics.

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Malbek CONTRAX

4.7
(13)

Contract Management Reimagined

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Malbek's cloud-based contract management solution offers users the same consumer-style experience they enjoy on personal devices. Self-service configurability enable Sales, Legal, Finance, and Procurement to harness the insights found in contract data, drive deal cycles, and protect profit margins.

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CobbleStone Contract Insight

4.8
(45)

Leaders with Contract Management Software!

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CobbleStone provides industry-leading contract management software with a one-stop, intelligent contract solution.

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ContractSafe

4.8
(88)

Cloud-based contract management software

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ContractSafe is a cloud-based contract management system with secure document storage, OCR, document search & filtering, automated key date reminders, and more

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Agiloft

4.9
(31)

Agile Contract Management that works the way you do

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5-Time winner of PC Magazine "Editors' Choice Award" and Spend Matters "Value Award", Agiloft is heralded as "the most customizable contract management system on the market". Our agile technology makes it easy to setup and use. It is fully audit compliant with support for HIPAA, SOX, and CFR21.

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Conga Contracts

4.3
(68)

Your #1 leader in end-to-end CLM solutions

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Conga Contractshelps to manage the entire process of negotiating & administering contractual agreements from any department with clients, partners, & suppliers.

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SpotDraft

5.0
(3)

Contract management software for legal, sales & other teams

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SpotDraft is a contract management software designed to help legal, sales, and other business teams create, manage, analyze, collaborate on, approve, execute, and track contracts on a unified platform. Administrators can configure access permissions for staff members.

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Symfact

4.3
(16)

Enterprise contract & compliance management

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Symfact provides a single software platform to address the multiple domains of Contract and Compliance Management. Our software helps you deal with Governance, Risk and Compliance, thereby reducing risk and increasing efficiency and productivity.

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Icertis Suite

4.4
(38)

AI-Powered, Analyst-Validated Contract Intelligence Platform

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The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs.

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Juro

4.8
(16)

Contract automation platform for SMEs

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Juro is a contract automation platform that empowers your team to create, execute and monitor routine contracts at scale without ever leaving the browser. We work with in-house legal teams at rapidly scaling business to confidently enable their commercial and HR teams to self-serve on contracts.

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ContractWorks

4.8
(61)

Contract Management Software Made Easy

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Easy-to-use contract management software with quick implementation, low, transparent pricing, and 24/7 support.

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PandaDoc

4.5
(766)

Crushing your Competition From Propose to Close

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Save time and reduce errors during your contract management process with PandaDoc.

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AMTdirect

3.6
(18)

Lease Accounting Compliance Made Easy

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AMTdirect is the ultimate lease accounting & administration solution. Ensure compliance with FASB ASC 842 and get a free demo today!

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Precisely

4.7
(11)

Cloud-based contract automation and management software

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Precisely is contract management software designed to help law firms and businesses in construction, finance, technology, recruitment and other industries create, review, validate, archive, and monitor contracts on a unified platform.

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ContractNow

5.0
(2)

Contract negotiation, consolidation, and renewal management

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ContractNow is a cloud-based contract management solution. Manage renewals, save costs, reduce risk, search clause data and understand all your contract obligations in one place. It’s currently offered completely free of charge until 1st September 2020.

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Gatekeeper

4.8
(39)

Contract Management Simplified

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Contract & Supplier Management in the Cloud. Clear oversight of all your contracts, spend, risks & key dates. Reduces costs dramatically with better visibility.

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Quickbase

4.4
(218)

No-code application development platform & online database

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Quickbase is a secure, compliant and easily governed platform that enables you to track and manage everything you need for your contracts. Gain transparency, improve the resiliency of your supply chain, make better decisions, and increase efficiency by unlocking data stuck in your core systems.

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Corridor Contract Management

4.6
(5)

Contract management software for Office 365 & SharePoint

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Corridor Company is the leading provider of contract management software solutions built on the Microsoft Office 365 and SharePoint platforms.

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Parley Pro

4.5
(12)

Better contracts faster with smart collaboration &automation

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Parley Pro is a modern, collaborative, and intuitive contract lifecycle management (CLM) platform that has pioneered digital negotiation technology. Using smart collaboration, Parley Pro speeds up contract cycles by seamlessly bringing together people and data in one transparent workspace.

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HoneyBook

4.9
(358)

Client management for freelancers & SMBs

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Online contracts that get signed fast.
Keep business moving forward with secure online contracts that clients can sign anytime, anywhere. Get started with ready-to-use contract templates. Reduce turnaround time and let clients sign online with HoneyBook.

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Contract Eagle

4.8
(12)

Monitor, manage, & centralize contract lifecycles

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Contract Eagle is a contract management tool for monitoring, centralizing & optimizing contracts including a central contract repository, scheduling and more

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eContracts

3.0
(1)

Contract management for SharePoint & Office 365

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eContracts is a cloud-based contract management system for Office 365, designed to manage the full contract lifecycle including drafting, approvals, and renewal

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ContractZen

4.7
(17)

Contract Management | Board Portal | e-Signature | VDR

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Advanced metadata-driven contract management, electronic signature & built-in Datarooms (VDR). Now with OCR, Office365 Single Sign-On & Outlook calendar sync!

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Trackado

4.5
(13)

Cloud-based contract management solution

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Trackado is a cloud-based contract management system which tracks contract milestones, alerts users to upcoming deadlines, and provides financial insights

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DocuVantage OnDemand

4.5
(10)

Cloud based Contract Management and Approval Automation.

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Create contracts from templates, Version Control, Approval Routing, Alerts and Reminders, eSignature Integration

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Buyers Guide

Contract Management

Contract management software helps businesses streamline and speed-up the execution of administrative tasks such as contract request management, document authoring, contract creation, and negotiation. The software offers a centralized visibility of contract status. It also lets users co-author contract terms and monitor contract milestones such as contract expiration and review dates.

Here's what we’ll cover:

What is contract management software?

Contract management software is software that allows businesses to store and manage legal documents, such as vendor contracts, leases, and license agreements, through the creation, review, and approval process. The software lets users seal contracts using digital signatures and track the contracts post execution. It also alerts users about critical dates such as contract renewal or expiry.

Types of contract management software

The first step to purchasing software is to decide whether you want to invest in a self-serving tool or a traditional tool. Here’s a breakdown of the two options:

  • Traditional contract management software: This system offers basic contract management features such as contract creation, customized templates, alerts, and notifications.

  • Self-service contract management software: This software offers users certain advanced capabilities such as no-touch contract creation that allows it to connect with CRM, sourcing, and procurement systems. The software auto-builds contracts based on the defined business rules.

Key question to ask your vendor before you buy: Does your solution meet my business needs?

Deployment options for contract management software

Vendors typically offer their products via two main deployment methods.

GetApp’s website emphasizes cloud-based deployment, because tools deployed via this method typically come with lower up-front costs, faster implementation time, and automatic updates; they also better support remote use, scale more easily, and minimize the need for IT staff and real estate. But you’ll want to have a high-level understanding of each method.

Here are the deployment options for deploying contract management software in your business:

Cloud-based: This type of software allows users to access their contracts remotely from any computer and location as the data is stored in the cloud.

On-premises: This software type is deployed on computers within the premise of the organization. Therefore, the stored data can only be accessed using local computers.

Hybrid: This deployment option means that the software is deployed both on the cloud and on-premise. However, hybrid solutions are generally costlier than the other two options.

Key question to ask your vendor before you buy: What are the subscription costs per month per user? Do these charges include installation fees as well?

What are some common features of contract management software?

Now, let’s delve into the key features of a contract management solution:

Contract drafting: Lets users draft contracts using a user-friendly drag-and-drop interface for contract creation and editing. Users can choose from the pre-approved standardized content and templates for the contracts or customize new ones as per their needs. They can edit contracts, save multiple versions of the contracts, search through the repository at any time, and regulate access to the documents.

Contract Edit in Concord

Contract editing in Concord

Document management: Allows users to collect, upload, store, and share all documents in a centralized location.

Compliance check: Allows users to set compliance benchmarks and automate the process of compliance checks for all the contracts. The software alerts them in case of any deviations.

Management of legal and compliance in Symfact

Management of legal and compliance clauses in Symfact

Alerts and notifications: Lets users schedule reminders and trigger alerts about important events in a contract lifecycle such as contract expiry date, due payments, approvals, vendor evaluation, and renewal dates.

Alerts and notifications in Concord

Alerts and notifications in Concord

Key question to ask your vendor before you buy: What are the core features offered in your basic plan for small businesses?

What are some important contract management software integrations?

Your contract management solution should integrate with the business applications that you currently use. Here are some of the integrations that would be useful to you:

  • Enterprise resource planning (ERP) and accounting integration: Your contract management system should integrate with your ERP and accounting solutions. This would ensure accuracy and efficiency in financial data and forecasting.

  • Customer relationship management (CRM) integration: Your contract management system should integrate with your CRM solution so that contact records are updated with contract details as well. This would allow you to craft targeted communication for each kind of customer such as a new one, a repeat customers, or even “dead” customers (i.e., those who have been inactive for a long time). This will help you to keep the data in a central location.

  • Configure-price-quote (CPQ) integration: Your contract management software should seamlessly integrate with your CPQ system. This would help you keep customer quotes and contracts in a centralized place so that this information can be used to execute each of these aspects.

Key question to ask your vendor before you buy: What are the other software integrations you offer that are beneficial for small businesses?

Here’s a trend that you should focus on to avoid getting outcompeted:

AI and machine learning: Artificial intelligence (AI) and machine learning enhance employee performance by making them more efficient and productive. In case of contract management, AI can be used to prompt users into using stock phrases and clauses. Meanwhile, machine learning can make the software smarter by incorporating all the used clauses.

But before implementing this technology, businesses need to identify and pre-define the phrases and clauses for contracts. About 53 percent of small and midsize businesses are using, or plan to use, AI technology by 2020-2021. Based on this trend, businesses that don’t adopt this technology will likely be outcompeted.

Key questions to ask your vendor before you buy: Do you plan to integrate AI and machine learning in your software in the future?

Research methodology

We referenced the following documents while creating this guide:

Back to contract management software directory

*Note: The applications selected in this article are examples to show a feature in context, and are not intended as endorsements or recommendations, obtained from sources believed to be reliable at the time of publication.

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