Best and demanding contract management software will be explained in this article. Regardless of size, creating, negotiating, and managing contracts is an integral aspect of every organisation. Each stage takes time and is prone to common data entry errors. The process is sped up while reducing financial and audit risks with contract management software, also known as contract lifecycle management (CLM).
Benefits are seen by businesses across all sectors. For instance, FineMark Bank painstakingly prepared each paper for four to five hours. This was cut down to 30 minutes once the organisation started using DocuSign.
We assessed more than thirty suppliers using a set of criteria to determine the top contract management systems, including customization and automation. Along with popular connectors, we also examined pricing strategies, security, and compliance controls.
Top 7 Best Contract Management Software in 2022
Top 7 Best Contract Management Software in 2022 are explained here.
1. PandaDoc
PandaDoc is an all-inclusive, reasonably priced solution that has a reliable contract and document management platform.
Pros
- Constant client assistance with paid plans
- Unlimited users, documents, and e-signatures
- Free 14-day trial
Cons
- Only Business or Enterprise plans offer access to the content repository.
- The cost of the bulk send function
- In the free plan, there are few integrations.
With its user-friendly software, PandaDoc, which was founded in 2011, enables you to manage the whole lifespan of your contracts. This software is the greatest overall option for businesses of all sizes because it is competitively priced and packed with features.
Use this browser-based application or the PandaDoc mobile app for Android and iOS to get up and going quickly. You’ll value its powerful tools, such as:
- Contract and content libraries
- Contract overlap
- E-signature
- Instant notifications
- Processing payments.
PandaDoc offers personalised templates with a simple drag-and-drop editor for rich media. Additionally, you can create unique workflows, procedures, and rules. Customers value the 15 customer relationship management (CRM) connectors, including those with HubSpot, Pipedrive, and Microsoft Dynamics. This is another contract management software.
This safe solution provides businesses with a document audit trail while safeguarding data in its secure cloud storage facilities. PandaDoc provides specialised solutions if you require a Health Insurance Portability and Accountability Act (HIPAA)-compliant programme.
Monthly or annual plans are available for the PandaDoc CLM software, and you can save up to 34% by paying yearly. Using monthly billing, the following package rates are calculated:
- Free eSign: Accept payments, get an infinite number of legally valid signatures, and upload documents for free.
- Requirements: Templates, a drag-and-drop editor, pricing tables, and document analysis are $19 a month per user.
- Business: $49 per user per month for Zapier connectors, bespoke branding, content libraries, and CRM integrations
- Enterprise: A customised option with an infinite number of team workspaces, Salesforce connection, and user performance reporting is available.
MOST SUITABLE FOR SMALL BUSINESSESDocuSign
2. DocuSign
DocuSign offers affordable contract management solutions for small firms, ranging from e-signatures to a complete CLM system. This is another contract management software.
Pros
- E-signature solution free 30-day trial, no credit card needed
- Constant chat support
- Modular workflow arrangements
Cons
- Full CLM solution needs a personalised quote.
- Complexity of initial workflow setup
- Occasional issues synchronising documents
DocuSign started out in 2003 as an e-signature firm, but it gained CLM capabilities in 2018 after buying SpringCM. DocuSign is frequently used by businesses since it is easy to use for all parties. Although end-to-end solutions are available for workflows that involve a lot of contracts, according to our study, DocuSign’s e-signature plans are optimal for small organisations.
You can use this browser-based software online or DocuSign’s mobile app for Android and iOS to take your contracts with you everywhere you go. There are various features offered by the e-signature and CLM programme, including:
- Repeatable forms
- Reminders to recipients
- Payment gathering
- Instantaneous remark alerts
- Content archive
Use smart forms with unique formulas to tailor your contract emails with your own brand and colour scheme. More than 350 pre-built connectors, including those with Google, Microsoft, and Salesforce, are connected to DocuSign.
Small business owners value compliance with the General Data Protection Regulation (GDPR), secure storage facilities, and audit trails that can be used in court. To help with your regulatory demands, the company offers special options for realtors, governmental organisations, and the healthcare industry.
Plans requiring e-signature work successfully for many small businesses. The payment options are yearly or monthly. The following packages assume month-to-month payments:
Personal: A single-user subscription is $10, and it includes the ability to transmit five e-signature papers each month. It also includes the main contract fields.
- Standard: Adds automatic email reminders, deadline notifications, personalised branding, and comments; $25 per user each month for a maximum of five users.
- Business Pro: $40 per month per user for a maximum of five users, allowing them to submit contracts in bulk, use advanced fields, and collect payments.
FOR LARGE BUSINESSES ONLYAccording to
3. Concord
This is another contract management software. Concord offers complete onboarding assistance and enterprise-level features, enabling businesses to deliver an infinite number of papers.
Pros
- Unlimited viewers, e-signatures, contracts, and storage
- All plans have bulk upload capabilities.
- Free 14-day trial period without need for a credit card
Cons
There are no plan refunds.
- Versioning specifications result in extensive data logs
- Complicated integration of contracts entered into outside of the platform
Concord was founded in 2014, and its straightforward layout aids businesses in keeping track of modifications and compliance throughout the lifespan. Concord is the best option for large enterprises thanks to the unlimited volume and important integrations.
You’ll note that Concord resembles Gmail at first glance. It can be set up quickly, and all plans include complete onboarding assistance. Whether you select the Concord dashboard or Google Drive, you may choose to work from the application you are most comfortable with. The top CLM features are:
- Live enhancing
- Redline, chat, and remark
- Template archiving
- Smart field autofill
- Optical character recognition (OCR) full-text search
- Reminders of deadlines
- Integrated e-signature feature
With a personalised approval process, reports, analytics, and user groups, Concord offers a tonne of flexibility. It has connections to Salesforce, DocuSign, and Dropbox. The business uses secure data centres and encryption that meets bank industry standards. Additionally, you gain from stringent versioning guidelines that create a new log each time a field is added to or changed and give you a reliable audit trail.
Based on your user count and an annual contract, the CLM packages offer transparent pricing. Select from three to unlimited user plans, and choose between monthly or yearly price. Annual payments will save you more than 26%. The following packages, which are billed annually and based on five users:
- Free: Three users, unlimited documents, and unlimited e-signature capabilities
For bulk-send and amendment management, the standard rate is $115 per month.
- Advantage: $295 monthly for all integrations.
- Enterprise: Request a price for a service level agreement (SLA) with a 99.9% uptime guarantee, a pre-approved clause library, and personalised branding.
4. Juro
The free plan on this end-to-end contract management software has excellent features.
Pros
- Free plan for 50 contracts or less per year
- Simple to use
- Native digital signature
Cons
- Paid plans are costly.
No mobile app
- You cannot transmit one contract to several recipients at once.
Juro, a 2016 startup, provides a visually appealing dashboard with powerful search tools and statistics powered by AI. Although the paid plans are expensive, the free application has the ideal balance of fundamental features, making it our top pick for the most useful free option. This is another contract management software.
As an end-to-end contract management platform, Juro provides templates and an integrated template editor to help users swiftly draught contracts and request approval. Its user interface is finest in class, and its dashboard is intuitive. With the no-cost plan, you receive:
- One design
- Editor for templates
- Internal remarks
- External bargaining
- Native digital signature
- Dashboard for Kanban
High-level features like AI-powered analytics, redlining, and the capacity to mass update your contracts are available if you choose a subscription package. Integrations with Slack, Google Drive, and Salesforce are also included in paid packages.
Juro conforms with e-signature laws just like other CLM solutions and maintains data on Amazon Web Services (AWS) servers in secure data centres in the EU zone.
You cannot pay monthly since Juro only accepts annual commitments for its premium plans. Non-profits do, however, get a 15% discount. Packages consist of:
- Free: For as many as 50 contracts, one user, and all of the aforementioned free plan features.
- Lite: $295 per month for five users, limitless templates, audit trails, and integrations, along with 500 contracts.
- Team: Dedicated customer success manager, AI-enabled analytics, 10 users, unlimited contracts, $900 per month
- Business: A single sign-on option and a tailored solution for bulk imports
5. Agiloft
For contract and commerce lifecycle management adaptations, Agiloft offers code-free solutions.
Pros
- Free SMB service
- Conditional promise
- 99.9% service level agreement uptime (SLA)
- Unlimited free trial
Cons
- No internal chat functionality
- Unlimited customization offers a dizzying array of options.
The list’s oldest provider, Agiloft, was established in 1991. However, it has continued to be updated often, providing access to bespoke solutions for businesses of all sizes. Agiloft is a clear winner in our best for customisation category thanks to its enterprise-grade and unique capabilities.
Utilize Agiloft’s cloud-hosted software on any computer. Every business gains from:
- Free online instruction
- Contract creation
Clause dictionary
- Print templates for contracts
- DocuSign or Adobe Sign e-signature
- Content archive
This is another contract management software. You may create unique workflows, routing procedures, reports, and even a custom dashboard to monitor your key performance indicators (KPIs) and alerts thanks to its code-free setups. Agiloft connects with Google and Microsoft to provide easy document uploading using the business software you already use.
Each document has an audit trail provided by Agiloft, which also maintains your data in secure storage facilities and ensures Sarbanes-Oxley, GDPR, and HIPAA compliance.
Agiloft believes in personalised pricing strategies. You have the option of creating a monthly, quarterly, or yearly payment. All plans start at $65 per user per month and are dependant on the number of users you have:
- Free: Free licence with standard integrations for an administrator, five power users, and five end users.
- Professional: Enhances timer-based regulations with phone support and five-minute intervals
- Professional Extended: Get pre-built integrations with Salesforce and Jira, vendor and customer portals, and multilingual support.
- Enterprise: pre-built AI modes and internal deployment choices
- Enterprise Extended: Provides unlimited custom models and 24/7 support
6. Outlaw
Track important data points using Outlaw CLM software for complete visibility.
Pros
- Unlimited e-signatures, storage, and contracts
- Quick setup
- Live chat assistance
Cons
- Not all businesses demand this level of protection, and only certain individuals can sign the agreements.
Outlaw, a newbie to the organisation, was established in 2017. Outlaw is the best solution we found for your reporting needs because it has a tonne of options in its dashboard and AI-assisted analytics.
With its limitless cloud storage, contracts, and e-signatures, Outlaw is a good fit for most organisations, so you don’t have to worry regarding volume. The following traits are the best:
- Native e-signature functionality
- Redlining based on clouds
- Stripe processes secure payments
- Instant notifications
- Search with full-text
- Self-service forms
- Variable contract fields
Its AI analytics, which enable you to generate reports on deadlines, contract statuses, and ongoing activities, are something you’ll like. Salesforce, HubSpot, Zapier, Slack, and QuickBooks are all connected to Outlaw. Your data is also stored by the company in SOC 2-compliant data centres.
Flexible pay-per-seat options are available, and annual billing can result in savings of 20%. Despite the fact that you can’t add collaborators until you have five core users, Outlaw specifies two user roles for payment packages. This cost is determined by a monthly billing cycle:
- Core User: Full control and a monthly fee of $125 per user
- Collaborator: For active users without access to all administrative features, it costs $60 per month per user
7. ContractWorks
With AI-enabled technology, ContractWorks offers automated services that save you time and money.
Pros
- Users indefinitely
- 24-hour support staff
Cons
- There are very few integrations
No mobile app
- No document creation, though templates can be made
Since 2012, ContractWorks has offered simple-to-use software that instals quickly. ContractWorks is the best choice for your automation needs because to its AI-powered automatic smart document tagging. This is another contract management software.
Users enjoy how simple it is to use, especially the drag-and-drop download feature and the Google-like OCR text-based search engine. You’ll get a lot of well-liked features, including:
- Smart contract outlines that are automatic
- Contract archive
- Milestone notices
- Electronic record-keeping
- Use annotations to review documents quickly and easily
- OCR and sophisticated search tools
- Automated recollections
- Integrated e-signature
Numerous customization possibilities are offered by ContractWorks, such as branding and reports that let you choose which data point to study. Additionally, it’s simple to plan, share, export, and save your reports. Salesforce integration is available in the Professional and Enterprise plans of the software.
This CLM solution offers 256-bit data encryption, audit log reporting, and secure data centres.
Every pricing plan is based on volume and payable annually. For discounts on large orders, you can get in touch with the business. Plans comprise:
- Standard: $600 per month for 2,500 documents and five licences for electronic signatures.
- Professional: $800 monthly for 10,000 papers and 10 licences for electronic signatures.
- Enterprise: $1000 per month for 20 e-signature licences and unlimited documents
What Is Contract Management Software?
With the help of contract administration software, you can handle everything online with complete transparency at every stage, whether you require a non-disclosure agreement (NDA) or a third-party contract signed. All phases of a contract’s lifecycle include:
- Creating documentation
- Transmitting the contract to the other party
- Redlining or inside-document alterations
- Negotiations
- Method for approving
- Annual modifications or renewals
- Inspections for compliance
- Agreements that are kept for a long time
What Components Typically Make Up Contract Management Software?
Although the features offered by CLM software programmes differ, almost all solutions serve business owners throughout the document lifecycle. The following aspects of contract management software are the most sought-after:
- Custom or smart fields: Select from pre-defined fields for your contracts or build your own to collect particular information about your clients.
- Automated approval process: With enterprise-level software, you can build up workflows to ensure that your document is approved quickly by the appropriate individuals.
- Automated alerts: These alerts keep everyone informed at every stage of the process, from email notifications of contract modifications to alerts for milestones.
- Redlining: During this process, all parties review contracts and make any necessary revisions. In the digital age, talks also include this as papers are sent and received between parties, with revisions either accepted or rejected.
- E-signature: A lot of CLMs have native (software-integrated) e-signature facilities. Other businesses integrate an e-signature technology from a third party into their software.
- Text- or voice-based OCR features let you easily locate contracts, clauses, or client information in your storage.
- Audit trails: If your contract is contested, certain CLM software will keep track of all versions, chats, and edits to provide a transparent audit trail.
- Content repository: Ditch the hundreds of contracts you would have to print and file. Instead, all of your contracts, templates, and in some situations, standard terms are kept in a content library.
How We Chose the Best Contract Management Software?
The majority of contract management software provides monthly or yearly subscriptions, with discounts offered for yearly payments, high contract volume, or numerous users. Small firms with standard contracts benefit greatly from the free and inexpensive plans since you may upload your own contract or use a standard template, then email it for an electronic signature.
Basic contract management tools are included in monthly paid plans starting at $25 per user. Low-cost programmes, however, may lack advanced customization, reporting, or branding possibilities. On the other hand, complete customisation, automation, and AI technologies might cost up to $125 per user every month.
We carefully examined the main features, integrations, and usability while evaluating more than 36 contract lifecycle management firms. Additionally, we evaluated suppliers based on their automation and customization tools, audit support, and volume capacities.
We discovered that the top solutions provide user-friendly mobile apps, automated workflows, and sophisticated search capabilities. Additionally, small enterprises required real-time notifications and reminders in addition to pricing that was affordable.
