The Best Contract Management Software of 2020

Our contract management software reviews are the result of over 40 hours of research on 90+ contract management software companies from across the web. These reviews and our contract management software guide help small businesses and startups find the best contract management software for their business.

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How We Chose the Best Contract Management Software

Each contract management software is uniquely designed to help companies create new contracts and keep track of existing ones. There are many companies out there touting a vast array of features and capabilities, but in our review of the best contract management software, we focused on what typically matters most to users.

Contract Lifecycle Management

Contracts are sensitive documents that need ongoing support and attention. It isn’t easy managing them with manual processes, and that’s where contract management software comes in. In our search, we looked for contract management software that supports a contract’s entire lifecycle, which includes its creation, compliant storage/handling, and renewal. We focused on software with features like contract authorship tools/templates, renewal reminders, and audit trails, which are all essential in contract lifecycle management.

Workflow Management

Owing to their sensitivity, human error and lack of proper coordination in the entire contract lifecycle can create problems. That’s why good workflow management solutions in contract management software are imperative. They can streamline creation/approval, cut down on human error, and make collaborating with external parties a simple task. To this end, we looked for features that aid in streamlining workflow management, including varying user permissions, external collaboration capabilities, easy search, and email alerts.

Reporting

It’s important for users to have the ability to report on the information contained in contracts; otherwise, it would be hard to make sense of it. Good contract management software can make reporting contained within contracts easy. To ensure this, we searched for features like visual data elements and the ability to export reports.

Third-Party Integrations

From sales to HR departments and legal teams, contracts are used across a variety of teams and industries. Quality contract management software should integrate with third-party applications to make workflow and e-signing simple. We looked for software that integrates with solutions such as Adobe Sign, Assently, and SignHero.

The 20 Best Contract Management Software of 2020

CompanyPriceFree Trial / DemoVisit
Accelo$39-$79 per monthFree TrialVisit Accelo
AgiloftCustom QuoteDemoVisit Agiloft
Apttus Contract ManagementCustom QuoteDemo, Free TrialVisit Apttus Contract Management
ConcordCustom QuoteDemoVisit Concord
Conga Contract ManagementCustom QuoteDemoVisit Conga Contract Management
Contract InsightCustom QuoteDemo, Free TrialVisit Contract Insight
ContractSafeCustom QuoteNoneVisit ContractSafe
CoupaCustom QuoteDemoVisit Coupa
DealHub.ioCustom QuoteDemoVisit DealHub.io
Determine ECLMCustom QuoteDemoVisit Determine ECLM
DocuSign$15-$60 per monthFree TrialVisit DocuSign
Formstack Documents$19-$249 per monthFree TrialVisit Formstack Documents
HoneyBook$34 per monthFree TrialVisit HoneyBook
IBM EmptorisCustom QuoteFree TrialVisit IBM Emptoris
Icertis Contract ManagementCustom QuoteDemoVisit Icertis Contract Management
ManageEngine ServiceDeskCustom QuoteDemoVisit ManageEngine ServiceDesk
Nintex$950-$1350 per monthDemoVisit Nintex
Onit Contract Lifecycle ManagementCustom QuoteDemoVisit Onit Contract Lifecycle Management
PandaDoc$0-$49 per monthDemo, Free TrialVisit PandaDoc
SAP Ariba$0-$49DemoVisit SAP Ariba

Accelo

Accelo
The new Accelo systems represent the natural progression of software in the era of the IIoT. Accelo cloud-based workflow automation software lets IT automate cross-platform workflows and meet operational and business challenges. Accelo takes advantage of many modern techniques, including multi-cloud, microservices, and agile methodology. Its features include:

  • Cloud-based automation and configuration service that provides consistent management across the board
  • Scheduling of updates within the defined timelines without the need for human intervention
  • Acceleration of cloud automation deployment
  • Version control through consistent setups that work in line with organizational, regulatory policies

Accelo can automate the movement of information from one platform to another, and it supports several platforms. It can also integrate data from different sources, automate actual business processes, and develop third-party apps to consume your data and make you money. Together, these services streamline application delivery and control costs. Furthermore, the system can alleviate the complexity that comes with cloud computing orchestration.

PriceFree Trial / DemoFeatures
$39-$79 per monthFree Trial>Contract lifecycle management
>Reporting and analytics
>Mobile app
>More features at Accelo

Pros & Cons of Accelo Contract Management Software
Accelo has many benefits. For instance, workloads are easily automated and centrally managed across the boundaries of your cloud environments. Moreover, it empowers developers and administrators to meet business demands. It’s based on a reliable framework that automates routine, repeatable tasks such as provisioning. However, the software has a few drawbacks. For instance, finding a solution to custom requests is difficult.

ProsCons
>Easy automation
>Based on a reliable network
>Centrally managed
>Difficult to create custom requests

What Customers Are Saying
Customers who have used the product have left mixed reviews. For example, one customer said, “Now we have enhanced our capacity, saved man-hours, and slashed our operating costs — it’s a win-win.”

Agiloft

Agiloft
Agiloft’s tools can manage all vendor-related activities in any organization or business. This entails the identification, collection, and presentation of the vendor profile. Once implemented, the management team can use the software to streamline decision-making. The software’s features and functions include:

  • Providing insight on contract negotiations and helping users to avoid negotiation mistakes
  • Showing how procurement data can be extracted, refined, and analyzed for insights
  • Showing users specific provisions to ensure compliance with industry regulations and standards
  • Enabling users to easily organize, manage, and track all their compliance requirements

The software has tools that monitor contracts by reviewing an organization’s security policies. Firms can also use Agiloft’s tools to assess the ability of existing or prospective vendors. It can also show businesses how to mitigate risks associated with costs, based on how they choose to accept or transfer the risk. Agiloft achieves this by drawing up a service level agreement (SLA) between the business and the supplier.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>Third-party integrations
>Workflow management
>E-signature
>More features at Agiloft

Pros & Cons of Agiloft Contract Management Software
Agiloft’s software helps organizations ensure company policies and processes comply with appropriate laws and regulations. It also monitors and reports on the effectiveness of compliance controls. In addition, it reconciles all relevant laws, regulations, standards, and guidelines. However, it’s more difficult for users to build their own business rules.

ProsCons
>Increased ability to review and monitor user accounts
>Can implement the solutions and then supervise and review the results
>Maintain operational compliance with the terms and conditions of each contract
>Harder to build custom rules

What Customers Are Saying
Most customers are impressed by this new contract management system. One customer stated, “Agiloft enabled us to check on our compliance status from a single dashboard.” Another user said, “Agiloft was able to return actionable audit findings on screen and in report form.”

Apttus Contract Management

Apttus-Contract-Management
Apttus Contract Management can support a company’s back office and day-to-day admin work. The vendor aims to provide a comprehensive software solution at a low price tag. Companies can use the contract management software to gather all their contract documents into one place and streamline internal communications. The software can:

  • Break down department silos caused by different systems
  • Help sales representatives give immediate answers to purchase questions
  • Be deployed on-site for greater IT control or via a secure private cloud
  • Offer future-proofing through the replacement of soon-to-be-obsolete technology

Apttus offers fast and efficient handling of calls, job scheduling, and monitoring tools. Its Quote-to-Cash processes solution also helps create a single platform where customer data can be collected in real time. This brings visibility throughout the organization and speeds up sales cycles.

PriceFree Trial / DemoFeatures
Custom QuoteFree Trial, Demo>Contract lifecycle management
>Unlimited contract storage
>Automated alerts
>More features at Apttus

Pros & Cons of Apttus Contract Management Software
Apttus Contract Management can determine what incentives should be offered without cutting into margins. The system can also help your staff be more proactive in driving financial results across your organization. This will allow for greater efficiencies and help full-time employees perform high-level work. But without knowing the cost, it’s hard to know if Apttus will be right for your business.

ProsCons
>Helps streamline many revenue activities that can bog down efficiency
>Enhances RCM with technology, automation, and predictive analytics
>Detects missing charges before claims are filed so a clearer claim can be filed
>Pricing isn’t listed online

What Customers Are Saying
Customers who have used the product have given a number of positive reviews. One customer noted, “Aptus helped us modernize the revenue cycle without taking more than a few steps.”

Concord

Concord
Concord makes it easy to send, track, and collect e-signatures. This makes it easy to send your documents on any device with a secure electronic signature system. Concord solutions also help speed up the process of signing documents and ensure the authenticity of the signer. The software’s salient features include:

  • Providing legally binding, enterprise-wide electronic signature solutions
  • Securing authorizations becomes fast, simple, and automated every step of the way
  • Offering multiple types of signatures, batch signing processes, and multi-language support
  • Presenting documents that satisfy compliance requirements

Concord allows you to boost your efficiency by automating client-facing signatures and approvals. The software is also popular for being the easiest-to-use digital signature solution in the market. It provides robust security controls, and IT teams can standardize on a single tool. Furthermore, it offers numerous developer tools and many extras for electronic signatures. This enables businesses to transact with customers wherever they are — online, in the office, or at home.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>Search capabilities
>Workflow management
>Reporting and analytics
>More features available at Concord

Pros & Cons of Concord Management Software
Users can securely sign, send, and manage their documents from anywhere with the Concord system. This allows a contract to be signed digitally with a formal signature, and the solution doesn’t require any additional third-party software products. One drawback of Concord is that there’s not free trial available.

ProsCons
>Helps organizations determine what type of signature they should adopt into their document
>Enables users to sign managed documents with an e-signature
>Responsive customer support
>No free trial

What Customers Are Saying
One customer says, “Overall we are very satisfied with Concord. We have about 20 users at this moment and everybody has had a positive experience so far. As with every new system, some questions have come up, but our Customer Success Manager is always very responsive and always provides effective solutions to our concerns.”

Conga Contract Management

Conga-Contract-Management
Conga Contract Management software can help you verify the completeness and accuracy of a document or records collection. This means that you can check whether your documents have the correct tone and format and that the details/facts are right. In addition, the software enables businesses to identify the right data sources, both internally and externally. The software can:

  • Provide valuable data for developing policies and procedures
  • Make everything from capturing data to processing payments easier
  • Enable you to share, track, and manage all your signed documents virtually
  • Allow you to open and sign a document from any device, at any time

Individuals using the software can electronically sign any document online. You can collect the right signatures in minutes instead of days, and you can also confirm with partners the format of electronic signatures and the exact method selected.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>Mobile app
>Third-party integrations
>External collaboration
>More features at Conga

Pros & Cons of Conga Contract Management Software
Conga automates the access, search, and editing of documents, enabling users to quickly retrieve and make any necessary changes to specific files. It empowers nontechnical users to design workflows with drag-and-drop simplicity. However, Conga does not have an active/inactive flag on templates.

ProsCons
>Takes away the hassle of document management when multiple employees are working on the same document
>Demonstrates that the document has been seen by the recipient and not just delivered
>Enables businesses to complete tasks, cut costs, reduce risk, and grasp competitive opportunities
>Lack of active/inactive flag on templates

What Customers Are Saying
Customers who have interacted with the software mostly have positive things to say. One remarks, “Conga contracts is a great application to store contracts, to streamline workflows, or to integrate an e-signature solution such as DocuSign. The additional forms allow you to customize the data you need to capture based on your specific industry. The hands-on support is always helpful to troubleshoot issues. API functionality allows you to create metadata fields to be captured to abide by federal regulatory requirements.”

Contract Insight

Contract-Insight
Contract Insight allows you to create perpetual document sharing relationships with the key participants in your organization. You can eliminate manual processes and boost customer service with instant contract access and editing capabilities. In addition, you can set up automated alerts and approvals to ensure collaboration across teams. This can help you improve both core capabilities and cost-competitiveness.

Some of its core features include:

  • Intelligently automating end-to-end contract viewing to make your entire processes more efficient and responsive
  • Empowering users with the insights they need to make smart, data-based decisions
  • Improving employees’ work-life balance because they can work from home by accessing all information from one centralized repository
  • Letting users develop and manage all third-party agreements online together
  • Allowing users to securely store, manage, and evaluate supplier contracts

Contract Insight’s software is easy to use and reduces the total cost of contracts. Its electronic signatures remove the need for printing, signing, scanning, and faxing. It’s also an excellent way to distribute contracts, secure e-signatures, and share digital contracts. This helps minimize the risk of missing key dates and personnel responsibilities.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>E-signature
>Automated alerts and search capabilities
>Workflow management
>More features at Contract Insight

Pros & Cons of Contract Insight Management Software
This cloud-based contract management solution can help small businesses create contracts and proposals online. Additionally, Contract Insight prioritizes contract management security and privacy. Unfortunately, Contract Insight does not easily adapt to serve a wide range of vertical industries.

Pros Cons
>Enables users to build relationships and manage contracts successfully
>Enables teams to agree and manage contracts in one unified workspace
>Allows users to create contracts and work on them as a team
>No mobile app

What Customers Are Saying
Users are impressed by the software’s ease of use, tracking features, and ability to easily manage contracts and documents. One user said, “Very user-friendly, easy to move through the system to use, and very useful for managing our many contracts.”

ContractSafe

ContractSafe
ContractSafe offers first-class support for a wide range of contract capabilities on a cloud-based model. This seamless integration enables companies to stay compliant while increasing close rates. As a result, you can have greater control over your contracts and improve contract performance.

Some of its key features include:

  • Streamlining of contract management processes, from routing documents to comparing thousands of terms
  • Offering robust document management functionalities in a user-friendly interface
  • Giving businesses complete collaboration and auditability into the entire contract lifecycle
  • Enabling business teams to self-serve, agree, and manage routine contracts
  • Managing the production of Service Level Agreements (SLA) and Procurement Master Agreements
  • Providing a central repository of procurement contracts, thus eliminating the usual inefficiencies associated with contract management

ContractSafe automates the tracking and monitoring of contracts and agreements. It can also be used to create new contracts and oversee contract renewal or termination. You can also benefit from document consolidation through its template and content library.

PriceFree Trial / DemoFeatures
Custom QuoteNone>Reporting and analytics
>Mobile app
>Automated alerts
>More features available at ContractSafe

Pros & Cons of ContractSafe Management Software
ContractSafe streamlines administrative tasks by creating a centralized record for each contract. Its process is secure and can be used for automating and optimizing your entire contract process. It also monitors contract performance and risk using a range of parameters set by the user. However, it’s difficult to tell if a free trial or demo is available.

ProsCons
>Makes it easier to negotiate, approve, store, and analyze every agreement
>Reduces the time spent reviewing contracts and getting them signed off
>No free trial or demo

What Customers Are Saying
One of the software’s users said, “Our startup was able to centrally store and track all of our contract and supplier information in the cloud.”

Coupa

Coupa
Coupa contract management software enables users to do away with manual tasks and provides better control over crucial financial data. It achieves this by deploying e-invoicing choices from EDI and cXML to a supplier portal and emails. The Coupa contract management software enables organizations to transform their invoice management process by eliminating paperwork and reducing processing costs.

The software can:

  • Make touchless invoice processing a reality for your organization
  • Deliver tangible payment efficiency by streamlining the entire invoice-to-pay process
  • Optimize vendor invoice processing and integrate with any ERP system
  • Help automate your accounts payable and payment process

Coupa’s fully automated AP solution offers efficient invoice management, enabling companies to reduce invoice processing costs by up to 80%. Moreover, its accounts payable automation solution is designed to save you time and money. Users can get the most advanced invoicing process available with this tool.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>Contract management lifecycle
>Third-party integrations
>Unlimited contract storage
>More features available at Coupa

Pros & Cons of Coupa Contract Management System
Coupa automation takes over all the tedious tasks involved in the processing of invoices. Also, the solution manages all PO and non-PO vendor invoices. This increases AP efficiency, eliminates manual data entry, and improves contract monitoring. However, there’s no free trial, which makes testing it out properly before locking in a price difficult.

ProsCons
>Integrates with your enterprise resource planning systems to seamlessly transfer data
>Users can electronically manage documents and data for more accurate contract processing
>Streamlines the entire invoice-to-pay-to-reconciliation accounts payable process
>No free trial

What Customers Are Saying
Customers have generally given positive reviews, with one saying, “Since implementing Coupa, we have witnessed faster processing and increased visibility.”

DealHub.io

DealHub.io
DealHub.io is proposal software that automates repetitive tasks and eliminates unnecessary bottlenecks. It can automate frequently used documents and help in drafting content for sales proposals. This proposal software is also designed to streamline and automate the request for proposal (RFP) process. Some of its main features include:

  • Automating the creation and delivery of sales proposals
  • Streamlining sales quotes, enabling companies to configure product pricing
  • Allowing users to create proposals in seconds with branded proposal templates
  • Providing ready-made templates to enable users to pre-fill forms
  • Automating sales proposals to easily keep content current

You can build enterprise-grade sales proposals in minutes with DealHub.io. A free trial is not available, but a demo is offered. Pricing is only available via custom quotes.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>Contract lifecycle management
>Reporting and analytics
>External collaboration
>More features available at DealHub.io

Pros & Cons of DealHub.io Contract Management Software
The software allows sales teams to send proposals to prospective customers easily. It also lets teams create beautiful documents with its powerful and intuitive templates. This can be an incredibly effective way to attract and win new agency business. Unfortunately, DealHub.io does not offer a free trial.

ProsCons
>Users can easily make visually interesting sales presentations, dynamically insert content, and monitor contracts
>Includes sales proposal automation, electronic/digital signature capture, and configure/price/quote
>Proposals and contracts can be generated in PDF or Microsoft Word
>No free trial

What Customers Are Saying
DealHub.io customers are pleased with the software’s easy-to-use features and automation capabilities. One says, “DealHub.io provided our sales managers and bid managers with easy-to-use features,” while another remarks, “We were able to automate the sales process and generate customer-facing documents.”

Determine ECLM

Determine-ECLM
Determine ECLM ensures maximum value for the money an organization pays to its suppliers. It does this by ensuring that all contracts with suppliers support the needs of the business. Therefore, users can manage supplier information, contract lifecycle, and performance contracts creation. They can also streamline onboarding and communications and provide comprehensive functionality for managing supplier information.

The main features of the software include:

  • Offering comprehensive solutions for managing vendors across the entire procurement process
  • Providing the capability to build supplier-centric relationships to maximize value
  • Making it easy to manage vendors seamlessly, including self-serve onboarding

Determine ECLM’s supplier management solution automates supplier management processes. It also has tools that allow organizations to manage their vendors consistently and efficiently. Those who adopt it can benefit from solutions for collaborative spending, finance, and sales management.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>E-signature
>Search capabilities
>Contract lifecycle management
>More features available at Determine ECLM

Pros & Cons of Determine ECLM Contract Management Software
With Determine ECLM, users can improve the supplier and vendor management process through a single system. This software solution also enables procurement professionals to manage supplier risk. Users have access to strategic sourcing, risk management, and supplier vetting at their fingertips.

ProsCons
>Help agencies uncover risks and relationships among suppliers
>Enables businesses to manage supplier data and compliance, as well as risk monitoring
>Provides total control of the vendor lifecycle, with immediate insight into up-to-date vendor information
>Allows you to evaluate, track, and manage your organization's extended value chain
>No free trial

What Customers Are Saying
A Determine ECLM customer says, “Determine ECLM makes it easy for us and our suppliers to manage supplier information.” Another mentions, “It’s very easy for us to track and mitigate risks among our vendors.”

DocuSign

DocuSign
DocuSign enables businesses to automate the contract request process with a guided self-service tool. Its streamlined contract automation process helps sales teams create stronger client relationships. DocuSign allows firms to:

  • Design and automate even the most complex agreement processes
  • Manage the entire lifecycle of a legal transaction, from initiation through to completion
  • Take a manual paperwork process and make it a streamlined electronic process
  • Automate contract processes while controlling risk
  • Reduce the contract approval cycle through intelligent workflow automation
  • Review contracts and approve them to send to clients

Automating contracting processes from beginning to end enhances the contract lifecycle. DocuSign provides smart process automation for all forms of contracts and legal agreements, ensuring slow, costly processes do not delay the activities.

PriceFree Trial / DemoFeatures
$15-$60 per monthFree Trial>Contract lifecycle management
>Mobile app
>Automated alerts
>More features available at DocuSign

Pros & Cons of DocuSign Contract Management System
With its intuitive markup, compliance, and relevancy tools, DocuSign can automate and accelerate contract lifecycles. As a result, organizations can process sales contracts, add new hire forms and draft lease agreements. By automating the intake, processing, and analysis of legal documents, users can be a step closer to digitizing every business process. However, they don’t have unlimited document storage.

ProsCons
>Intuitive markup, compliance, and relevancy tools
>Detailed analysis of contracts
>Risk control
>Doesn't offer unlimited storage

What Customers Are Saying
One customer had this to say, “The ability to keep and maintain contract templates in Word as well as the ability to generate actual contracts using standard Word features makes DocuSign incredibly powerful and flexible.”

Formstack Documents

Formstack-Documents
Formstack Documents enables businesses to share their forms and access advanced form analytics online easily. The software also allows corporations to design secure forms and implement automated workflow solutions. This means users can build custom forms using a drag-and-drop builder. It also enables them to create dynamic forms with validation, conditional field hiding, and several data controls. Generally, the software allows companies to:

  • Turn their traditional PDF forms into engaging digital experiences
  • Choose from the provided designer templates or create from scratch
  • Automate their digital records workflow with a customizable form builder
  • Easily create beautiful forms, payments, or custom product pages
  • Instantly automate data, signatures, and payment collection

Formstack Documents is flexible and easy to use and has many built-in design layouts. It also supports major web form automation tools, including Formstack and Gravity Forms.

PriceFree Trial / DemoFeatures
$19-$249 per monthFree Trial>E-signature
>Reporting and analytics
>Third-party integrations
>More features available at Formstack Documents

Pros & Cons of Formstack Document Management Software
Formstack Document’s form builder can help you create simple yet powerful forms. This interactive form builder includes highly configurable web forms and automation software that increases worker compliance. As a result, you can speed up and simplify your daily work by automating complex tasks. However, they do not offer a free trial.

ProsCons
>Apply preset or custom business rules to build dynamic forms
>Create forms for numerous uses and types
>Create unlimited form fields that can trigger automation
>No free trial

What Customers Are Saying
Customers who reviewed the software are generally impressed by its functionality. One remarks, “We used Formstack Documents firm-wide to automate a number of different often-used document packages, including business formations and several different types of contracts. It allowed us to streamline workflow, and it made it much easier to eliminate human error in drafting.”

HoneyBook

HoneyBook
HoneyBook is a project management software that can guide a project manager to project success. It’s a cost-effective solution that helps teams plan and execute projects that deliver results on time. Additionally, HoneyBook’s project management solution is more robust than entry-level project management tools. Its key benefits include:

  • Helping teams track contract work, employee hours, and billable time
  • Tracking down deliverables and manage resources
  • Keeping track of all comments on tasks that mention you or that you’re watching
  • Helping users keep track of your budget
  • Time tracking with tasks and pre-built project templates
  • Enabling teams to easily track, prioritize, and fix bugs

HoneyBook keeps your messages, files, and project data in one place. That means tracking every assignment and task at hand is easier than ever. Furthermore, you can track and monitor project progress, issues, and available resources.

PriceFree Trial / DemoFeatures
$34 per monthFree Trial>Reporting and analytics
>Automated alerts
>Mobile app
>More features at HoneyBook

Pros & Cons of HoneyBook Contract Management Software
You can increase productivity by up to 50% with HoneyBook’s project tracking software. The software offers incredible scalability because it combines project tracking and developer tools in one platform. It also utilizes built-in time tracking, billing, and other project software tools necessary to boost productivity. However, external collaboration isn’t possible with HoneyBook.

ProsCons
>Allows you to track virtually every aspect of your project
>Lets you organize, discuss, and track work all in one place
>You can track completed tasks and the time spent and compare that to your previous performance
>Doesn’t offer external collaboration

What Customers Are Saying
One HoneyBook customer commented, “HoneyBook enabled me to see my workflows, budget, tasks, time, and assets at a glance.”

IBM Emptoris

IBM-Emptoris
IBM Emptoris is a contract management solution that offers the latest in data analysis techniques. Overall, it has analytics tools that can answer multiple nonstandard questions. This means you can get a clearer and more precise picture of contract hotspots. It can also help you to get a good understanding of how to apply existing technology. Some of its main features include:

  • Leveraging contract management software to increase visibility
  • Analyzing complex contracts and helping users to gain insight into their contracts
  • The ability to manage contract creation, execution, and analysis systematically
  • Often integrating with other contract management software
  • Incorporating CLM analytics into a contract management system
  • Storing, retrieving, managing, and distributing critical business documents

You can reduce your IT operating costs by up to 80% with IBM Emptoris. Plus, the software can help you to apply contract analytics in risk assessment, sourcing, and contract management.

PriceFree Trial / DemoFeatures
Custom QuoteFree Trial>Reporting and analytics
>Contract lifecycle management
>External collaboration
>More features at IBM Emptoris

Pros & Cons of IBM Emptoris Contract Management Software
IBM Emptoris is one of the few contract management tools with a single, auditable application for managing all aspects of the contract process. Also, IBM Emptoris has unlimited applications across many industries. It can even apply new rules to all existing and future contracts. However, it has no mobile app.

ProsCons
>Delivers actionable intelligence with summaries that can be exported
>Applies machine learning (ML) and advanced analytics to contract lifecycle management
>Offers extensive activity logs with numerous dashboard widgets
>No mobile app

What Customers Are Saying
A recent IBM Emptoris user made the following observation, “I was able to apply IBM Emptoris’s data analysis, critical thinking, and problem-solving to my car dealership in Minneapolis.”

Icertis Contract Management

Icertis-Contract-Management
Icertis Contract Management is a contract management software that uses advanced artificial intelligence to extract and analyze contract data. This allows a firm to manage its contracts more effectively. At the same time, companies can make informed decisions with an enhanced understanding of contract risk. Some of its key aspects include:

  • Modern contract lifecycle management (CLM) technology equipped with powerful AI engines
  • An AI system that applies specific contract management rules to make decisions
  • The ability to speed up implementation and make contract reviewing easy
  • A robust contract lifecycle management system that covers the full contracting process
  • Reducing cycle time and eliminating errors by automating critical aspects of the contract process
  • The ability to store and search all your contracts in a secure and centralized repository

Icertis Contract Management streamlines the complete contract lifecycle using Digital Workflow and AI. Its end-to-end contract management solutions have also been proven to deliver quick results. For instance, its search function is handy for chat-bots when answering any customer queries.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>E-signature
>Workflow management
>Reporting and analytics
>More features at Icertis Contract Management

Pros & Cons of Icertis Contract Management Software
Companies can get past contract hurdles by using Icertis’s AI-based contracting software. Its comprehensive AI-powered tools make contract management, analysis, and reporting a breeze. Users can shrink their contract review timeline and eradicate human error. However, there’s no free trial available for testing Icertis out.

ProsCons
>Provides the most comprehensive AI-powered contract management and analysis tool
>Addresses most challenges in the contract management lifecycle
>No free trial

What Customers Are Saying
An eCommerce retailer had this to say about the Icertis Contract Management system: “The software provided us with unmatched visibility to enterprise contracts.”

ManageEngine ServiceDesk

ManageEngine-ServiceDesk
ManageEngine ServiceDesk is most suitable for corporate companies looking for contract data visualization solutions. It lets business users visualize, explore, and drive insights from complex contracts’ data. It also provides interactive dashboards equipped with complex analytics. Some of its key solutions include:

  • Visualizing contract data from many sources, including file uploads, databases, and business applications
  • Managing reports easily and getting real-time updates on the dashboard
  • Powerful visual presentation BI dashboards reporting
  • Converting contract data insights into interactive and intelligent charts
  • Letting users use compelling visuals to spot trends, track goal achievement, and easily identify bottlenecks

ManageEngine ServiceDesk is built as a self-service Business Intelligence software solution so that users can answer business questions from specific customers, making it the ideal solution for large amounts of data with complex data stories.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>Workflow management
>Search capabilities
>Third-party integration
>More features at ManageEngine ServiceDesk

Pros & Cons of ManageEngine ServiceDesk Management Software
As an expert provider of custom business intelligence and data analytics solutions, ManageEngine ServiceDesk provides a contract visualization solution that’s quick and easy to implement upfront. Furthermore, its dashboard customization is simple. The software can breathe new life into your data with real-time visualizations. However, there’s no free trial available.

ProsCons
>Provides visually appealing and informative analytics
>Has analytic dashboards with rich interactivity and self-service customization
>Its data visualization solutions help users communicate the full meaning of their data
>No free trial

What Customers Are Saying
Businesses that have implemented the solution have left positive reviews. One company executive said, “ManageEngine ServiceDesk’s discovery solutions gave us comprehensive and enterprise-wide visibility into contract risk.”

Nintex

Nintex
Nintex is an automated workflow process for routing, reviewing, and collaborating on a variety of contracts. It automates numerous processes for each contract, such as approvals and signing orders.

For example, you can create document approval flows that approve invoices. Alternatively, you can set up a workflow to automatically send off a budget for approval. Nintex enables you to:

  • Implement one-click document review and approval to reduce processing time
  • Identify actions that can be configured to automate tasks based on approval status
  • Build reusable workflow templates that automate document signing
  • Fully automate long-running, document-intensive activities

With Nintex Drawloop DocAutomation, workflows can be designed to automate change record creation and the change approval process. This enables businesses to automate invoice approval processes with workflow and business rules.

PriceFree Trial / DemoFeatures
$950-$1350 per monthDemo>Contract lifecycle management
>Reporting and analytics
>External collaboration and sharing capabilities
>More features at Nintex

Pros & Cons of Nintex Contract Management Software
Nintex enables you to work smarter and faster by automating your manual and repetitive tasks. You can automate your quote approval process to quickly send requested changes. This works regardless of whether your approval process involves a single document or a multistage workflow process. However, there’s no free trial available and prices are high.

ProsCons
>Can automate and manage work processes, documents, and data
>Can review overall state of approvals and find items awaiting your approval
>The workflow system enables approval automation for accounts payable
>No free trial

What Customers Are Saying
One Nintex user says, “Working on Nintex enabled us to configure direct approval for users to complete tasks quickly from within the inbox.” Another user remarks, “We were able to obtain wet ink signatures and route invoices for approval in a fully virtual environment.”

Onit Contract Lifecycle Management

Onit-Contract-Lifecycle-Management
Onit Contract Lifecycle Management can effectively manage contracts or agreements and relationships between entities. It can also limit an organization’s exposure to risk by increasing compliance. Organizations can use the Onit software to organize the intricate and detailed contractual negotiation process. Onit provides solutions such as:

  • Capturing commercial terms of products, services, and prices
  • Offering collaborative, robust, and straightforward sell-side contract lifecycle management
  • Letting you create contracts efficiently by using preapproved templates
  • Giving you the ability to initiate, approve, track, and manage contracts in a cloud-based platform
  • The ability to execute the contract lifecycle from request to approval and from expiration to renewal

Onit helps users do away with manual and disjointed contract processes by leveraging a contract lifecycle management software with preconfigured rules. Legal departments can obtain much-needed visibility into contracts using the software.

PriceFree Trial / DemoFeatures
Custom QuoteDemo>Workflow management
>Unlimited contract storage
>Automated alerts
>More features at Onit Contract Lifecycle Management

Pros & Cons of Onit Contract Lifecycle Management Software
Onit is one of the most robust contract lifecycle management applications in the market because it offers a full range of functionalities throughout the entire contract lifecycle. Businesses can use these tools to streamline, refine, and monetize their contract lifecycle. However, it doesn’t support compliance tracking and version control.

ProsCons
>Automates and streamlines the contract process for legal entities
>Offers innovative software to create, revise, and collaborate on contracts
>Enables you to create and maintain a centralized data repository of all contracts
>Lacks compliance tracking and version control

>No free trial

What Customers Are Saying
An Onit customer made this observation: “When we implemented Onit, we dramatically decreased the amount of time and resources spent on managing legal documents.”

PandaDoc

PandaDoc
PandaDoc is a contract management software that enables businesses to avoid the costs, errors, and time wastage associated with the manual collection of payments. The software makes it easy to send an agreement using electronic signatures. In essence, businesses are able to eliminate payment disputes by adding signatures to credit card receipts. After the customer completes a transaction, they will receive a digital receipt requesting their signature.

PandaDoc’s features include:

  • The ability to collect e-signatures from customers quickly, securely, and remotely
  • Facilitating the distribution of legally sensitive documents
  • Allowing the creation of rules requiring the finance department to collect a signature any time a customer is present
  • Including solutions for secure signature capture through a cryptographic operation
  • Letting customers access your client portal and allowing them to manage forms

With PandaDoc Payments, your customers can pay immediately once they sign a deal. The software enables businesses to collect signatures and payments at the same time. It makes everything from capturing data to processing payments a breeze.

PriceFree Trial / DemoFeatures
$0-$49Free Trial, Demo>E-signature
>Mobile app
>Automated alerts
>More features at PandaDoc

Pros & Cons of PandaDoc Contract Management Software
You can use PandaDoc to make workflow and document approval simple, secure, and fully digital. Businesses can use the software to sign contracts digitally with a formal signature. This reduces manual interactions, increases savings, and speeds up processes. However, PandaDoc lacks presentation capabilities.

ProsCons
>A smart way to sign online without printing and scanning documents
>Simplifies the process of authorizing documents in your name
>Ability to send, manage, and sign documents from anywhere
>Lacks presentation capabilities

What Customers Are Saying
A PandaDoc customer remarked, “PandaDoc is our easiest way to send, receive, and manage legally binding electronic signatures.”

SAP Ariba

SAP-Ariba
Do away with late payments and a lack of visibility with SAP Ariba’s invoice automation solution. SAP Ariba’s best-in-class invoice automation solution effectively digitizes all supplier invoices. This limits manual error and reduces the costs for data entry by up to 80%. Some of its main solutions are:

  • Providing invoice workflow that automates invoice processing to speed cycle times
  • Capturing invoices automatically at points of arrival regardless of their format
  • Automating invoice capture in accounts payable
  • Invoice automation in multiple formats, such as email, scan, fax, MFP, electronic, and XML
  • Accounting suites that also include AR automation, billing, and invoicing

SAP Ariba captures data from documents and automatically classifies them. As a result, users can significantly reduce the time and money spent on invoice processing. The solution also manages all PO and non-PO vendor invoices.

PriceFree Trial / DemoFeatures
$0-$49Free Trial, Demo>E-signature
>Mobile app
>Automated alerts
>More features at SAP Ariba

Pros & Cons of SAP Ariba Contract Management Software
SAP Ariba’s solutions are backed up by the latest accounts payable technology that provides secure invoice processing, AP automation, matching, and other essentials. Once the solution is live, users immediately start reaping productivity benefits. The software is a bit difficult to navigate or get used to.

ProsCons
>A smart way to sign online without printing and scanning documents
>Simplifies the process of authorizing documents in your name
>Ability to send, manage, and sign documents from anywhere
>Lacks presentation capabilities

What Customers Are Saying
SAP Ariba customers are generally happy with its automation capabilities. One mentions, “We were able to automate the paper-intensive AP invoice process by implementing the SAP Ariba solutions.”

What Is Contract Management Software?

Contract management software is a program or service used by legal, procurement, financial, sales, and contract administration teams to create new contracts and track the status of existing ones. It includes a series of tools for managing and storing legal agreements from vendors, partners, customers, and employees.

Companies can use contract management software to navigate the ever-changing landscape of contract management and enable the right people to locate the correct information at the right time. One key function that contract management software provides is the ability to create a centralized and uniform record for each contract’s processes.

Other vital features any effective contract management software plan should have include removing obstacles from your sales cycle and driving your royalties’ compliance directly from your contract metadata. This allows businesses to centrally store and track all their contract information.

Benefits of Using Contract Management Software

A contract management software has several benefits, including:

  • Completely automating your contract process and creating customizable automated workflows
  • Tracking critical milestones and providing automatic alerts and tools
  • Reducing contract cycle time and assisting in eliminating common bottlenecks
  • Digitizing and storing all contracts in a central repository
  • Allowing organizations to ensure that only the correct people have access to specific data
  • Shortening sales cycles, reducing legal headaches, and increasing transparency
  • Tracking contracts to determine who the corporation should be ordering from
  • Delivering compliance and cash-flow benefits
  • Offering back-office conversation as a way of gaining competitive advantage
  • Empowering procurement organizations to actively manage compliance

Must-Have Features for Contract Management Software

There are several must-have features you should look for when considering a contract management software solution. They include:

  • A repository of contract documents with relevant data to find contracts easily. This decreases the processing and operating costs of contracts and reduces the negotiation cycle timeframe.
  • Flexibility to cope with a vendor relationship and its interactions. This enables businesses to access contract data at a granular level based on user roles and geographies.
  • Integrate easily (at no additional cost) with systems like Oracle, SAP, and Salesforce. This means whatever system you choose should work well with other solutions necessary in contract management, particularly those relevant to your industry.
  • Provide access restrictions or the ability to assign permissions-based roles. This enables businesses to create hierarchical approval workflows based on quantitative thresholds.
  • Integrate with e-signature solutions like Adobe Sign. This simplifies the submission, review, approval, and management of contracts.
  • Provide document management features such as full-text search and check-in/check-out.

The Cost of Contract Management Software

The cost of contract management software varies widely depending on factors such as contract storage capacity, features, and ability to integrate with third-party tools. A few contract software solutions are free to use, while others have generous free trial packages. Free trials are crucial in helping customers determine if a software will suit their business operations.  Some vendors also offer demos to illustrate the workings of their product.

Generally, the price ranges from $15-$60 per month. However, there are contract management solutions that cost more than $1000 per month because of their advanced features or unique offerings and special pricing strategies. The best thing you can do is evaluate your company’s needs to determine which software is ideal and budget-friendly. In some cases, a low-cost software might serve your company better than a higher-priced contract management solution.