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Contract management software allows users to track and manage contracts through the various stages of their life cycles. Contract management refers to the automation of processes surrounding creating new contracts, managing contract terms, storing and tracking existing documents, and overseeing contract renewal or termination. Legal departments on both sides of a deal participate in the contracting process to ensure compliance with laws and regulations as well as with internal company rules.
Professionals, such as salespeople or account representatives, who are involved in the negotiation aspect of contracting are tasked with defining terms and service level agreements, amending agreements, and executing contracts. Basic contract management tools focus on creating contracts from templates and/or storing signed contracts.
Contract Management Software Helps Your Business: Software makes creating a contract easy and automated, It makes contract review and approval cloud-based and completely auditable, Software connects contract data to the systems and processes they touch, It makes contract data easily accessible and actionable via dashboards, etc.
Finding the best Contract Management Software for your business is now good and easier. Compare product reviews and features to build your list. While there are lots of players in this market, we’ve identified the top companies that you can use.
PandaDoc ↗ is one of the more popular contract management software programs. It is cloud-based document management software that helps users in creating proposals, quotes, human resources documents, contracts, and more. PandaDoc headquartered in San Francisco offers their eponymous electronic signature platform for sales teams, containing sales proposal automation and CPQ (configure, price, quote) features, and integration with CRMs. It is an affordable, all-in-one solution with a robust contract and document management platform.
PandaDoc helps you oversee the entire lifecycle of your contracts using its intuitive software. It is an incredibly popular document and contract management software with more than 27,000 customers around the world. This affordable and feature-rich software stands out from the competition, making it the best overall choice for companies of any size. Built-in collaboration, version control, document history, and electronic signature make it easier than ever to draft, negotiate, and sign contracts.
It’s an excellent choice for growing small businesses and startups because it provides the resources you need to draft professional contracts without hiring a legal professional. The solution is mostly used by sales and marketing teams and company leadership. This secure solution gives companies an audit trail for documents while keeping data safe in its secure cloud storage facilities. Quickly get up and running by using this browser-based program or downloading PandaDoc’s mobile app for Android and iOS.
Upgrade your document workflow with PandaDoc
PandaDoc offers a free eSign plan and 3 paid plans for eSigning and document automation. Our plans start at $19 per user per month and include unlimited documents and eSignatures. You can even jump-start your evaluation with a free 14-day trial. If you need more users, be sure to chat with our sales team to find the best pricing solution for you and your business.
Best for automation
ContractWorks ↗ with AI-enabled technologies provides automated services, saving you time and money. It makes executing, storing and tracking corporate agreements easier. Its automatic smart document tagging uses AI technology to make ContractWorks the best option for your automation needs.
A big benefit of ContractWorks is its commitment to the highest levels of document security, privacy, and confidentiality. You can easily save, schedule, share, and export your reports. The software integrates with Salesforce on Professional and Enterprise plans. ContractWorks’ 24/7 support team can be accessed via phone, email, or live chat.
Features of ContractWorks: Automatic smart contract outlines, Automatic recordkeeping, Automated reminders, Contract repository, Built-in e-signature, Milestone alerts, OCR and advanced search capabilities, Annotations for quick, easy document review, etc.
Pricing starting at $600/month for unlimited users, ContractWorks makes contract management software accessible to businesses of all sizes.
Best for service or retainer-based businesses
Accelo ↗ is built for Service Businesses. It is an all-in-one business automation solution built to help service-based businesses in particular. The system makes it easy to manage all your client work, from prospect to payment, and everything in between.
One of the biggest pains of managing ongoing client and service-based work is handling contract renewals and invoicing. Easy-to-use, automated and intelligent – Accelo lets you finally run your entire business in the cloud.
Today, Accelo streamlines operations and increases the profitability of thousands of businesses in over 86 countries, including the United States, the United Kingdom, France, Germany, Hong Kong, Singapore, Canada, New Zealand, Croatia, Mexico, China, and Australia.
Features of Accelo: Automatic and dynamic invoices, Financial and executive dashboards, Unlimited contract types, Time and budget tracking tools, Recurring tasks for ongoing projects, An intuitive client portal, Replicable templates, etc.
Accelo’s contract management software Pricing starts at $39 per user per month with a minimum of three users. It provides a 14-day free trial or a live demo.
Best for small businesses
DocuSign ↗ is a cloud-based electronic signature solution for organizations of all sizes and most industries. From e-signatures to a full CLM system, DocuSign gives small businesses access to inexpensive contract management solutions.
The platform can be used to sign various types of documents including business contracts, school permission slips, agreements, and approvals. It is an American company headquartered in San Francisco, California.
Users can upload documents, email them to signers and specify the order in which individuals should sign. It’s easy to get started and easy to grow when you choose the eSignature company that Aragon Research* considers the industry leader. You can use this browser-based software online or take your contracts to go with DocuSign’s mobile app for Android and iOS.
Features of DocuSign: Content repository, Recipient reminders, Reusable templates, Real-time comment notifications, Payment collection, etc.
You can pay annually or monthly, but you’ll save $5 to $20 per month with a yearly payment.
Best for large businesses
Concord ↗ is a cloud-based contract management system that helps all companies manage the entire lifecycle of their contracts from creating contracts all the way through managing renewals post-execution. Concord is the only contract management platform that enables companies to accelerate growth while maintaining flawless compliance. With Concord, the CLM begins with online negotiation and continues through the signing and implementation of a contract.
Concord’s legally binding e-signature fully executes contracts right within the system. Spend less time juggling between applications, editors, and e-signature tools and save money. Concord’s approval workflows enable multi-step and conditional approvals for any contract type, allowing businesses to move their approval process to one location.
An all-in-one platform, Concord is simple to use and works with any type of contract, across your entire company—every department and every employee—and is the only platform to automate and support the complete contract lifecycle, from online negotiation to e-signature, and contract follow-through. Over 500,000+ companies trust Concord with their contracts.
Best For Small, medium, and enterprise businesses. Concord is used by Legal, Sales, Procurement, HR, and virtually anyone who deals with contracts.
Features of Concord: Contract Creation, Contract Database, Contract Templates, Contract Editing, Contract Collaboration, Contract Attachments, Approval Process, Reporting & Dashboards, Integrations / APIs, Notifications & Reminders, etc.
Concord’s contract management software pricing starts at $17 per user, per month. There is a free version. Concord offers a free trial.
Best for unlimited users
ContractSafe ↗ is a cloud-based contract management solution suitable for businesses of any size. ContractSafe software offers automated key date reminders, secure centralized document storage, user access permission management, document search and filtering with automatic OCR (optical character recognition) for searching within scanned documents, and more. This tool is aimed more at targeted management use rather than full lifecycle management, which is why it foregoes authoring as well as extensive customization.
ContractSafe focus on the key elements of contract management that make your life easier: Never miss a key date with easy reminders, Everything available in one safe place, Find what you need fast with OCR and great search, Integrations with DocuSign, SalesForce, Active Directory, Okta, and other keys, Share access safely with flexible roles and permissions, etc.
The built-in automatic OCR enables users to search within scanned documents, rather than relying exclusively on filenames or tags to locate the required file. The platform supports unlimited users and the vendor delivers support via phone and email.
Features of ContractSafe: Contract Lifecycle Management, Government Contracts, Contract/License Management, Document Classification, Access Controls/Permissions, Compliance Tracking, Specialty Contracts, Completion Tracking, Buy-Side (Suppliers), Version Control, Archiving & Retention, Full-Text Search, Collaboration Tools, Electronic Signature, Sell-Side (Customers), etc.
ContractSafe pricing starts at $299.00 per month. There is a free version. ContractSafe offers a free trial.
Some Other Contract Management Software
Precisely – Best for multi-department contract automation
Workday Strategic Sourcing – Best for a supplier contract
Agiloft – Best for customization
Bonsai – Best tool for freelancers
- Icertis Suite
- Adobe Sign
- Better Proposals
- JIRA Service Management
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