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Top 3 Best Contract Management Software For Small Business | Every firm, no matter how big or little, must have contracts. A good contract management system might mean the difference between managing those contracts effectively and overlooking crucial information that might cost your organization some business. Choosing the best contract management software is crucial for this reason.
Even when you design, negotiate, and manage contracts properly, the process still takes a lot of time. You expose yourself and your company to common data input errors, grammatical mistakes, and a host of other problems if you don’t have good contract software.
However, using proper contract management software can expedite the process, increase its effectiveness, and reduce the risks associated with financial and other audits. These are just a few explanations for why your company needs the best contract management software.
You should also consider your close rate and overall sales. As the appropriate management software will increase your sales and give your team significant time savings, having the right platform in place can help with both of these problems.
What is Contract Management Software?
Contract management software, also referred to as contract lifecycle management (CLM), aids in automating the process of generating, tracking, and overseeing all contracts. Because it enables users to create, store, manage, redline, update, and exchange complex company contracts, the best contract monitoring software will streamline the entire procedure.
This kind of platform is a crucial component of corporate operations because it not only aids in the eradication of errors but also aids in the removal of bottlenecks that may develop during contract negotiations.
Consider your contract management solution as a component of your larger portfolio of company management tools. Like a CRM, you want it to be streamlined with the rest of your platforms and integrated with other technology.
Today, we’ll discuss some of the top contract management programs that are currently on the market. You may use this list as a fantastic starting point for your search because it contains dependable options that are all top-notch solutions for contract administration.
Even if you decide not to use any of the platforms on this list, it is an excellent place to start your search and might point you in the direction of another option. Here are some of the top contract management software options available right now.
Top 3 Best Contract Management Software for Small Businesses
Following are the top 3 best contract management software for small businesses:-
1. PandaDoc
2. Agiloft
3. Concord
Let us see them in detail.
1. PandaDoc
Due to its multitude of capabilities, such as document analytics, template embedding, multiple workspaces, eSignature software, payments, and content and picture libraries, PandaDoc is one of the more well-known contract administration software packages. The software is praised for its ability to solve problems, particularly the ability to consolidate documents using its template and content library. Instead of using various tools for various papers, this enables users to produce and deliver documents from a single location.
The integrated electronic signature feature of PandaDoc is yet another fantastic advantage. It just takes a few seconds for PandaDoc users to open a document, sign it, and transmit it, eliminating the need to open a document, print it, sign it on paper, scan it, and then send it. This eliminates the requirement for the traditional method of signing a document, which wastes time, money, and resources.
Finally, you can see more sales and a rise in close rates thanks to the PandaDoc collaboration tools and workflow automation function. When caught up in the outdated practices of signing and delivering paperwork, the entire process takes longer, squandering time and delaying outcomes. You won’t have to wait for co-workers or clients when everything is electronic and automated.
PandaDoc is compatible with a variety of gadgets, including web-based ones, Macs, iPhones, iPads, Android phones, and Windows computers. Users pay a $15 or $49 monthly annual subscription fee for the Professional or Business plans, respectively. You can give it a test drive with a free 14-day trial if you’re not sure whether to commit.
Five templates, 50 documents, 50 electronic signatures, email support, custom branding, document analytics, and a document builder and editor are all included in the $15 monthly subscription for professionals (often single users like freelancers and self-employed people).
2. Agiloft
Want contract management software without having to learn a lot of complicated coding? Agiloft is the ideal remedy. For both small and large firms, this platform enables code-free configurable contract lifecycle management.
In 1991, Agiloft was the first to provide contract management services. There have been rivals who have developed their own systems throughout the years, but Agiloft has remained dependable and adaptable. Important features including contract authoring, contract print templates, e-signature via Adobe Sign or DocuSign, and a content library are available with the cloud-based program. Additionally, it contains a clause library where writers can double-check any adjustments or additions they make to clauses.
Marketers may create unique workflows, routing, and reporting procedures with Agiloft. When it comes to workflow settings without using code, the program surpasses rivals. You can add customized contract notifications or track key performance indicators (KPIs) on the dashboard. Agiloft maintains an audit trail for every document and has compliance tools that adhere to Sarbanes-Oxley, GDPR, and HIPAA requirements, so security is established. Additionally, it seamlessly interacts with Microsoft or Google for optimal convenience at work.
The software’s only flaw is that, due to the vast array of customization possibilities it provides, it may be confusing to newcomers. Users might therefore choose to participate in the platform’s online training. Additionally, Agiloft lacks an internal chat option that could be helpful while negotiating a contract.
Agiloft offers a cost-free trial that lasts indefinitely, but businesses can create a special package depending on their requirements. If your small firm doesn’t need all the features of a contract management system, there is a free plan available.
3. Concord
For efficient contract delivery and execution, Concord is the go-to contract management option. In addition to online document editing, the platform includes e-Signature tools, webmaster and website tools, data export, API, amendments management, discussion, deadline notifications, and an analytics dashboard. Concord also offers unlimited storage, which enables you to keep contracts and other important documents for as long as you need at no additional cost.
You can create, edit, alter, discuss, agree to, sign, send, track, and store contracts with this all-in-one contract management solution without any headache or additional work. You and the other parties can receive and sign the agreement electronically, making the process simple for everyone. Businesses of various sizes, freelancers, and people who work for themselves regularly use Concord.
There are many pricing structures available, including a free plan, annual subscription, quote-based pricing, and monthly payment. Online document editing, eSignature capabilities, deadline warnings, and an audit trail are all included in the free plan. Online document editing, discussion, deadline alerts, electronic signature tools, audit trails, version controls, advanced access controls, amendments, and integrations with Google Drive, Dropbox, Cilo, and other small business accounting programs are all included in the standard $24.99 per month plan.
The web-based program is compatible with Windows, Android, iPhone, iPad, and Mac computers. Concord offers technical help over the phone, email, and live chat using their support staff.
Final Points on Best Contract Management Software For Small Business
It’s important to take your time when selecting a contract management software solution for your company. The ones we’ve highlighted above are among the greatest there are right now. Consider your options and make necessary inquiries before making an investment given that 80% of customers look for expert services and marketing. To assist focus your search, you may also read reviews of contract management software.
If you have any extra queries, do your research before taking any further action as there is a wealth of additional information about every piece of software mentioned above available online.
