Contract Management Software

Contract management software allows users to track and manage contracts through the various stages of their lifecycles. Among other things, this type of software helps businesses with renewal notifications, compliance management, capturing digital signatures and managing contract templates, as well as document storage and version control.

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Showing 1 - 20 of 155 products
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Showing 1 - 20 of 155 products

Gatekeeper

Gatekeeper is a cloud-based vendor and contact management solution. Key features include automated alerts, customization and collaboration tools and integrations with other software. Users can manage contracts and vendor in...Read more

4.77 (43 reviews)

PandaDoc

PandaDoc is cloud-based document management software that helps users in creating proposals, quotes, human resources documents, contracts and more. The solution is mostly used by sales and marketing teams and company leadership. ...Read more

ContractZen

Secure governance software with advanced contract management, board meeting management, entity management, e-signature, and VDR that is loved by hundreds of customers from over 30 countries. Start your 30-day free trial today – no...Read more

4.65 (17 reviews)

Icertis Suite

Icertis provides cloud-based contract lifecycle management (CLM) solutions that enable businesses to manage all stages of a contract’s lifecycle. Key features include approval workflow, auto extraction, milestone tracking, contrac...Read more

4.39 (38 reviews)

Legito

Document Automation & Contract Assembly; Smart Workflows, Approvals, & Document Management; Advanced Electronic Signature. All under one roof with Legito, your Smart Document Workspace. In under two hours, out-of-the-box funct...Read more

4.97 (30 reviews)

Conga Contracts

Contracts are crucial to every business, which is why it’s so important to end the era of manual and disjointed contract processes. Conga’s contract management solutions empower you to improve customer and user experiences, while ...Read more

4.33 (69 reviews)

ContractNow

Powered by Gatekeeper, ContractNow is a cloud-based ntelligent contract management solution that allows businesses to centralize all contracts, identity contractual risks by analyzing key clauses and execute new contracts with int...Read more

5.00 (2 reviews)

Nintex Process Platform

Nintex is a workflow management solution that caters to a variety of industries including energy, health and life sciences, financial services and government. It is suitable for departments such as customer services, human resourc...Read more

4.09 (79 reviews)

Odoo

Odoo Point of Sale (POS) is part of Odoo’s integrated suite of business applications. The module is available both on and offline and provides unified data across stores and has an integrated inventory management function. Od...Read more

Documate

Documate is a document automation software designed to help businesses create interview questions to collect information, populate client data into forms, upload documents to be tagged to interview questions and share them with co...Read more

5.00 (24 reviews)

Software pricing tips

Read our Contract Management Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Freshservice

Freshservice is a powerful IT Service Management solution from Freshdesk. This cloud-based system frees IT departments from clunky, server-based solutions, offering on-the-go mobility, powerful features, and flexible pricing....Read more

Aerofiler

Aerofiler is an AI-powered contract management solution designed to help businesses streamline the full contract lifecycle. With end-to-end contract automation, users can create, approve, sign and track contracts within a matter o...Read more

5.00 (10 reviews)

Windward Core

Windward Studios is a reporting and document generation solution that provides a data-powered document creation system for OEM, enterprises and system integrators. The solution offers the ability to edit, personalize and design do...Read more

4.80 (41 reviews)

Intellect

Intellect provides a flexible enterprise Quality Management Software (eQMS) solution and platform designed to meet any FDA and ISO compliance requirements, as well as digital transformation goals. Built on the Intellect Compliance...Read more

4.53 (53 reviews)

Trackado

Trackado is a cloud-based solution designed to help organizations streamline the entire contract lifecycle, from securely storing contracts to reviewing financial terms and payment obligations on a unified platform. Employees can ...Read more

4.50 (14 reviews)

Symfact

Symfact is a contract and compliance management solution for businesses of all sizes designed to help streamline the entire contract lifecycle, from compliance delivery to risk mitigation and resource planning. Key features includ...Read more

4.33 (18 reviews)

App4Legal

App4Legal is a comprehensive Suite of Law Practice Management Software & Contract Lifecycle Management Software available for Legal teams of any size in both law-firms and in-house. It is modular, enterprise, secure, multi-langua...Read more

4.68 (37 reviews)

Concord

Concord is a 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. Users can draft a contract from a temp...Read more

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Intelligentcontract

Intelligentcontract is a cloud-based contract management solution. Key features include risk management, expense management, amendment management, reporting, and report customization, invoice tracking, key performance indicators (...Read more

4.75 (12 reviews)

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CobbleStone Contract Insight

CobbleStone Contract Insight provides enterprise CLM software that has been selected by thousands of contract and procurement professionals spanning the globe. CobbleStone’s award-winning software, Contract Insight, is fully confi...Read more

4.78 (45 reviews)

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Popular Contract Management Comparisons

Buyers Guide

Last Updated: May 13, 2021

Famed American talent scout and dealmaker Irving Paul Lazar once said, “I have no contracts with my clients; just a handshake is enough.” While this may have worked for him, this type of informal contract would lead to a mountain of issues for most companies.

Contracts play a crucial role for many businesses. They cover everything from how employees are expected to execute their responsibilities to how supplies are procured to how vendor relationships are maintained. As such, it becomes absolutely essential to draft and approve any necessary contracts that affect the workflow of an organization in order to avoid potential litigation.

That’s where contract management software can help. A contract management system enables companies to create new contracts and track the status of existing ones to ensure that employees, vendors and clients deliver on the stated requirements.

This guide can help potential buyers find the best contract management solution for their needs. Here’s what we’ll cover:

What Is Contract Management Software?
Common Functionality of Contract Management Software
Benefits of Contract Management Software
What Type of Buyer Are You?
Market Trends to Understand

What Is Contract Management Software? 

Contract management software allows users to track and manage contracts through the various stages of their lifecycles. These include:

  • Authoring or drafting contracts
  • Negotiating with the parties involved
  • Soliciting contract approvals
  • Executing contracts
  • Tracking obligations
  • Making amendments
  • Renewing

Among other things, this type of software helps businesses with renewal notifications, compliance management, capturing digital signatures and managing contract templates, as well as document storage and version control.

Common Functionality of Contract Management Software

Most contract management systems come with some or all of the following capabilities:

Contract drafting Allows users to standardize contracts by letting them drag and drop contract language from a library of approved clauses or sections. Certain solutions provide customizable, industry-specific templates.
Lifecycle management Enables users to organize, track and automate the contract lifecycle. This includes monitoring contracts to enforce their obligations, understanding negotiation terms, collecting payments, seeking approvals and creating amendments.
Alerts and notifications Allows users to monitor and keep track of contract milestones by sending automated notifications at predefined intervals. Also enables sending automated alerts to sales personnel associated with contracts nearing their renewal dates about entering into contract re-negotiations.
Compliance management Allows users to monitor contract commitments and report any deviations from the approved workflow. Also enables users to benchmark contracts against existing regulatory frameworks.
Analytics and reporting Enables the generation of customizable reports and dashboards to allow users to measure contract performance by metrics such as contract type, contract status, contract timeframe, account executive efficiency and revenue realization.
Document management Enables users to store all contracts in a centralized repository for future reference. Also allows users to store standard contract templates and implement version control on different copies of the same contract.
Contract search Enables stored contracts to be searchable. Certain solutions allow indexing by assigning metadata (e.g., author and file format) to documents in a library.
Third-party integration Most contract management tools on the market are “best-of-breed,” focusing on a specific group of features. However, some solutions can integrate with other software, such as CRM, ERP and supply chain management solutions.

Benefits of Contract Management Software

Professional and business owners can realize multiple benefits as a result of adopting contract software, including:

Centralizing information. Contract management centralizes all contract related documents within a single location and makes them searchable for retrieval in the future. This process ensures that no contract is ever lost, enabling account executives to monitor contract commitments and track their renewal cycles.

Collaborative authoring. Large enterprises are usually bound by complex contracts involving several internal departments or external vendors. This complexity can sometimes result in several parties creating their own terms and stitching them together, which can lead to the different interpretation of contractual terms by the parties involved. Contract management software helps eliminate such loopholes by allowing different stakeholders to collaboratively author contractual terms and approve certain language and section definitions to avoid later conflict.

Compliance enforcement. Contract software allows users to monitor contract milestones by tracking important events such as periodic review dates or contract expiration dates. These solutions also provide alerts or notifications to account managers for contracts nearing their milestones, and can escalate reports if there are any deviations from the predefined workflow. Certain features can also enable the provisioning of time-dependent deliverables and help manage additional costs or penalties associated with the delays.

What Type of Buyer Are You?

Choosing the right contract management software wil likely depend in part on the size of your organization. Consider the following buyer types:

Small and midsize businesses. These businesses typically operate as establishments with up to 100 employees and focus on specific operational areas. Such companies might consider a best-of-breed system that specializes solely in contract creation and electronic storage.

For example, small and midsize companies usually work on thin margins, which means it’s important for them to maintain the recurring cash flow that comes from contract renewals. Contract storage can be an issue, since such companies usually rely on hard copies or archaic file storage systems. A basic, no-frills contract management system is usually ideal for such organizations.

Large enterprises. Big companies typically operate in multiple operational areas with employees based at different locations. For such businesses, coordination is key. These businesses may want to consider a contract management system that is a modular suite, allowing them to pick and choose the different modules needed.

For example, organizations that have agreements where multiple internal and external parties are involved may want to consider a solution that allows them to collaboratively author terms with different stakeholders, automate the approval process, send automated alerts for tracking milestones, enforce contractual obligations and integrate with external ERP or CRM solutions.

Market Trends to Understand

Data analytics. Contract management vendors are quickly realizing the benefits and opportunities that data analytics provides in accelerating the decision-making process of organizations. Data analytics can be applied on a stored contract repository to measure the optimum amount of time an enterprise has to wait before making price concessions, helping them to negotiate better contract terms. Analytics can also help companies monitor their contract negotiation cycles, suggesting the best time for executives to begin negotiations if a contract has to be closed in a predetermined timeframe.

Blockchain technology. There is an increase in the prevalence of “smart contracts,” where automated computer programs are capable of executing the terms of a contract without a verifying authority having to be involved in the process. These smart contracts are created using blockchain technology, which houses and protects prior data and transactions. This technology can automatically execute a contractual clause as soon as a pre-programmed condition is triggered—e.g., the automatic release of payment for a package upon delivery without the user having to authorize the transaction separately.