A contract is the beginning of a business. Both parties agree to do any work in return for mutual agreement. Here, a contract is the legal form of a business. Basically, a contract describes how to perform a transaction. Therefore, it represents an important document for a business – many opportunities for job loss due to improper management of the employment contract. A contract management software makes the job easy. It automates the creation, negotiation and management of the business process. This expedites the process while reducing financial costs and audit risks.
Best Contract Management Software
Recently, contract management systems are available in many forms. To find the best one for your business, you should evaluate the key features of the software like customization, automation, warehousing. You should also consider the pricing plan, integration, security of the software. Here, we have discussed 10 best contract management software which includes most of the essential features.
You might hear the name PandaDoc when looking for a contract management solution. It was established in 2011. Basically, PandaDoc is a document automation software. You can improve your document workflow. As a result, you can deliver a great experience for your customers. More than 23000 companies trust PandaDoc. Are you ready to meet with the best performers in the field of contract management platforms?
- You can use this software by simply using a browser-based program or by downloading the mobile app for Android or iOS.
- You may collect information from your stakeholders by sharing the PandaDoc form through a direct link or by embedding it in your website link. It does not require any coding knowledge.
- There are many pre-designed templates and custom content libraries. So you can build contracts quickly with pre-approved templates.
- You can digitally realize your contract with innovative e-signature technology. It also ensures the security of the documents.
- PandaDoc offers integration with leading accounting and CRM software.
Pros: Using PandaDoc’s many pre-designed templates, e-signatures and pre-approved forms, you can make quick deals.
Cons: UX/UI still has room to improve.
Pricing: Starts at $19 per month but saves up to 24% if you subscribe to annual plans. You can enjoy a 14-day free trial.
DocuSign was the first company to introduce electronic signature technology to the world. The company started its journey in 2003. However, after the acquisition of a contract lifecycle management (CLM) company called SpringCM, the company expands its service capabilities.
Now, the company offers complete contract management solutions. More than 750,000 organizations in 180 countries and 44 languages have experienced DocuSign services. Overall, DocuSign speeds up the business process.
- Small businesses can easily benefit from e-signature plans as the company offers various service plans for small to large businesses.
- DocuSign has a rich content library. You can use multiple reusable templates.
- A real-time notification service is available here. You have to set a date and then you can enjoy automatic email reminders, notifications.
- You can use DocuSign on a web-based platform. Plus, a mobile app is available for both Android and iOS.
- There are 350 pre-built integrations that facilitate business transactions with DocuSign.
Pros: You can customize your workflow. And customer chat is available 24/7.
Cons: Although DocuSign provides a flexible workflow, initial workflow setup is complex.
Pricing: Starting at $15 for a single user. DocuSign offers both monthly and annual pricing plans. The range of services varies by pricing plan. You can enjoy a 30-day free trial.
If you are looking for simple design contract management software, Concord is the best choice for you. It was established in 2014. Concord provides a simple control panel like Gmail. Since most business applications are integrated with Concord, you can easily collaborate with your employees and negotiate with customers and vendors. More than 500,000 companies rely on concord services.
- Sending bulk messages and storing unlimited contracts is only possible in Concord. Plus, its OCR technology helps in finding any contract quickly.
- A simple interface makes it easy to collaborate with your team, customers, vendors and counterparties.
- You can create contract drafts using pre-approved clauses and pre-designed templates. So you can speed up the negotiation process.
- Core business application integration with Concorde accelerates the business process.
- Live editing, automatic smart fill and automatic notification tools provide a comfortable experience in the work process.
Pros: Concord is the only software that provides unlimited volume and key integration.
Cons: Contract integration with an external platform is complicated. Also, no key integration has been confirmed in the starter pack.
Pricing: Starting at $279 per month. They offer four transparent pricing plans. You can request a demo.
If you’re looking for a contract management solution but don’t have the budget. Then Juro is the best option for you. Does it sound good? However, Juro also has paid packages with high-end functionality. But its free version is good enough for a start. Because you can get amazing contract management features for free. More than 100,000 contracts negotiated by Juro for companies worldwide.
- Collaborate with everyone—your team, your customers, your vendors—all in one place. And you can control the workflow.
- Juro’s built-in template editor helps you create a professional contract document. You can even send them from the template platform to make quick business deals.
- Even though Juro Data is hosted on Amazon Web Services (AWS) servers, your data is highly secure. It also complies with the e-signature regulation.
- Advanced search tools help you find data quickly. You can also edit documents if needed.
- Basic business application integration with Juro is possible if you subscribe to a paid plan.
Pros: Completely free for the first 50 contracts in a year. If you want to subscribe to a paid plan, you can customize your plan. Also, the kanban board is user-friendly to use.
Cons: The lack of mobile apps is surprising. The paid package is very expensive.
Pricing: Starts at $450 per month if you’re interested in a paid plan – 15% standard discount for nonprofits.
If you have no coding knowledge but want to customize your contract management software. Then Agiloft is recommended for you. Since 1990, Agiloft has provided intuitive contract management solutions.
One of the oldest contract management platforms. But recently, they’ve rolled out many updates confirming the best customization experiences for businesses of all sizes. Not only that, they automate the workflow, including all contract management tools.
- You can instantly access all the data and find any contract or clause. Also, OCR technology can convert images to text.
- You can manage complex workflows by analyzing routine processes. And the contracting process can be accelerated with redline automation and integration with key business applications.
- Your data is highly secure and authenticated. In addition, all legal requirements were complied with.
- You can manage a custom dashboard and get custom reports.
- They have pre-built Artificial Intelligence (AI) technology that can recognize and import metadata.
Pros: Even though the data is stored in a double redundant infrastructure, you can get 99.9% uptime service.
Cons: There are a lot of options in customization which makes the system cumbersome—no live chat system.
Pricing: Pricing plans are based on the number of users. It starts at $65 per user per month. You can choose a monthly, quarterly or annual plan. There is a free trial.
If you’re looking for contract management solutions with a great reporting dashboard, you can count on the outlaw. However, the outlaw quickly became popular due to its many powerful features. Outlaw offers a flexible pricing plan, so businesses of any size can afford the outlaw. In addition, its advanced innovation accelerates the process of doing business.
- No need to worry about storage capacity. Because Outlaw offers unlimited storage, contracts and e-signatures.
- There is a pre-built clause library and smart variables that help in creating error-free contract documents quickly.
- It optimizes business by collaborating with teams and customers through a cloud-based system. And Outlaw automates the workflow with real-time notifications.
- You get highly secure API documentation and an e-signature module.
- Integration with major business applications is simple.
Pros: The platform provides unlimited cloud storage. Easy to install. Live chat is available.
Cons: Few features are not included in the package.
Pricing: Two types of plans are offered, namely core user and collaborative. Core user plan starts at $125 per user with full control. The collaborator plan, on the other hand, starts at $60/month/active user without full management features. But you need five users to unlock the collaborator plan.
7. Contract Works
If you are looking for fast implementation, you trust ContractWorks. You can complete the full installation in 30 minutes. It was established in 2012. Basically, ContractWorks focuses on an unlimited storage volume. This contract management software offers unlimited users and unlimited contract options. It has a user-friendly interface. And artificial intelligence technology automates the contracting process.
- You can use intelligent auto-labeling AI technology that automates business processes to get done.
- There is a pre-built e-Signature that helps you manage and track contracts online.
- Your data is highly secure and encrypted as it is hosted on the Amazon Web Services (AWS) platform.
- You can run custom reports. You can also set flexible alerts.
- If you search for a contract, you can get results quickly because OCR technology can convert images to text.
Pros: Unlimited number of users can access this software. You can get 24/7 customer support.
Cons: Only limited third-party integrations are possible. Although ContractWork is a cloud-based platform, they have not yet developed a mobile application.
Pricing: Pricing plan is billed based on documents and e-signature license volume. It starts at $600 per month. If you need a large volume, you can contact the company for quotes.
A contract does your job. Basically, this is a legal document. Oftentimes, contracts guide your income, operational and financial activities. Therefore, it is a very important issue for a company. If you don’t have an experienced lawyer, you can negotiate with LinkSquares. It was established in 2015. Although LinkSqaures focuses on legal work, you can get a full contract lifecycle management solution powered by AI.
- Intelligent AI can extract metadata and full text, keyword, phrase search. and understand the subject matter of the contract.
- You can run custom reports using smart variables. And Reports can easily share reports system-wide.
- You can also manage business dates by setting renewal dates and expiration dates.
- The system is integrated with a SAML-based single sign-on provider. So you can upload documents via email or SAML.
- Your data is highly secure on Amazon Web Services (AWS) servers.
- You can collaborate with your team by providing custom user roles and controlling access to them.
Pros: This contract management software provides a super clean and user friendly interface. You can safely share your content. You also get dedicated customer support.
Cons: The company needs to update the “Smart Variables” and “Timing Task” features.
Pricing: Please contact the seller for a quote. You can also request a demo.
9. contract book
The contract book automates the entire lifecycle of a contract. It was established in 2017. More than 100,000 users in more than 75 countries trust Contractbook. Most contract tools are partial solutions, but Contract Book designs a single workflow for an end-to-end contract lifecycle platform. The system collaborates with everyone on one platform and negotiates with them to secure the best deals possible.
- Design a fully automated workflow from drafting to executing contracts.
- More than 100 free contract templates are created with ContractBook. Thus, you can prepare error-free contract drafts in less time.
- You can connect with multiple stakeholders (employees, customers, vendors) and interact with them seamlessly. You can also provide a hierarchy to set access to the data.
- Store your documents in the cloud and organize them centrally with smart tagging technology.
- There are also automatic reminders and automated task managers to help keep the obligation on time.
Pros: Interface looks very professional. Pre-built contract templates are legally bound. You can also add your own logo when customizing a contract template.
Cons: Text editor not updated. The text editor needs more updates.
Pricing: Starting at $97 per month. The company also offers a free trial for 1 user with limited access.
10. Onit Contract Management
Onit Contract Management offers a complete business solution. The system provides not only contract management, but also business process management. Every contract management application designs the workflow up to contract approval.
However, Onit handles the entire contract lifecycle and monitors the execution of the contract. This innovative workflow platform enables teams to solve real business problems. So you can generate income and minimize operating costs.
- It can automatically create contracts using pre-built rules, metadata.
- The system automatically provides feedback on tasks and monitors the progress of the work.
- AI can audit risk trails. Thus, you can negotiate your contractual agreement by minimizing the risk factors.
- Your Partner may gain access to use your Portal to execute, submit or approve contract requests. So you can establish good relationship with your vendors.
- Your data is extremely secure and there is an Amazon AWS server. And all the legal compliances have been completed.
Pros: You can access detailed business processes from your web browser or mobile application anytime, anywhere. And Onit is integrated with Microsoft Word and DocuSign.
Cons: Although the interface seems easy to use, you need a trainer to use this software for the first time.
Pricing: Please contact seller for price quotes. You can schedule a demo.
While reviewing these 10 software, we found that most of them offer similar types of features. Cloud-based platforms, automated workflows, digital signature techniques are the most common in every software. However, each of them has certain characteristics that set it apart from others. Therefore, we cannot use single contract management software for you.
First, you determine the number of users and documents. Second, you decide your customization and workflow requirements. Third, you limit document storage and storage capacity. Fourth, you show auditing and analysis tools. Fifth, you consider classification and reporting. Finally, you think about your budget. Therefore, you make the final decision for your most suitable software.
Here is the best contract management solution you can use to automate your employment contract. We have listed cloud-based software. Thus, you can get the service whenever and wherever you want. In this article, we provide every software website link. So you can visit their website and get in-depth information about their service features.
Of course, apart from these, you can find many alternative contract management software. But if you don’t have enough time to explore and satisfy our review, you can choose from the list above. And don’t forget to share your user experience of the software.