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Contract Management Software 2024: Complete Guide

Contract management is about managing contracts to minimize different risks (operational and functional). Its activities span contract creation, execution, analysis, and termination. Contract management solutions cover all these aspects and monitor contracts throughout their lifecycle, help meet different commitments, and prevent financial losses and legal disputes.
AI-driven risk assessment and optimization recommendations are rapidly gaining a foothold in this category of solutions. Compliance tracking is also becoming a popular feature in the solutions.

What is the right solution for you depends on your business context and needs. Let us help you firm up your needs and find you the right-fit solutions. Get your personalized assessment report now!

Updated By Cuspera

Last updated: Jan 31, 2024

Popular Contract Management Software

Agiloft Contract Management Suite

Automates the workflows associated with initiating, executing, and monitoring contractual agreements

4.66

Read Reviews
Agiloft Contract Management Suite Icon

Agiloft Contract Management Suite

23.32
★★★★★
★★★★★
Automates the workflows associated with initiating, executing, and monitoring contractual agreements

Agiloft Contract Management Suite is an adaptable and rapidly deployed enterprise software for Contract and Commerce Lifecycle Management. It helps to improve ROI and enhance customer relationships.

Agiloft automates the workflows by initiating, executing, and monitoring contractual agreements. Implementing a contract management system helps companies in purchase savings, enables more efficient sales cycles and drastically lowers compliance risk.

Agiloft's CLM comes with fully customizable functionality for buy and sell-side contract management including repository and templates, clause library, flexible approval workflows, built-in AI, security and compliance safeguards, automated notifications and seamless integration with existing systems.

Testimonials

Heather McEwen

Founder and CEO

SaaSam

Agiloft Contract Management Suite Icon
Highlights
Top Processes : Sales document management,Contract management,Workflow management
Top Features : Recording,Ticketing,Alerts: popups & Notifications

Vendor: agiloft

Founded: 1991

Company Size: 51-100

HQ Location: 460 Seaport Court, Suite 200, Redwood City, CA 94063

Financials: PRIVATE

Icertis

CLM platform that delivers business intelligence to the organization through contract intelligence.

4.41

Read Reviews
Icertis Icon

Icertis

22.04
★★★★★
★★★★★
CLM platform that delivers business intelligence to the organization through contract intelligence.

Icertis is a cloud-based Contract Management platform that transforms contracts into business assets providing new capabilities to increase revenue, control cost, and manage risk. It is a unique platform built for enterprises looking to increase contract velocity and visibility not only in their sales deals closure but also to ensure maximum utilization of obligations from their procurement vendors too.

This platform features intelligent setup, contract operations, Governance, Risk & compliance, insightful reporting, contract analysis and dashboards. It also offers Business and AI applications that enable optimization of contractual foundation ensuring deals close faster.

It supports full lifecycle of contract management capabilities from contract setup, authoring, approvals, negotiations, execution and reporting. It provides with Blockchain framework that deploys permissioned, standard blockchain to address real-world business challenges.

Testimonials

Tony Ulkekul

Head of Enterprise & Corporate IT

Microsoft

Icertis Icon
Highlights
Top Processes : Sales document management,Contract management,Collaboration
Top Features : Templates,Dashboard,Recording

Vendor: Icertis

HQ Location: 2001 Gateway Pl, San Jose, CA 95110, US

SAP Ariba

Procurement & Supply Chain Solutions for Spend ...

4.16

Read Reviews
SAP Ariba Icon

SAP Ariba

20.79
★★★★★
★★★★★
Procurement & Supply Chain Solutions for Spend ...

SAP Ariba is a leading source-to-contract solution. This integrated solution covers sourcing, procurement and financial supply-chain solutions. Using Ariba cloud based solution, companies can achieve digital transformation from source to pay, control spending and find new sources of savings.

Using Ariba's solutions businesses can automate and optimize several business processes like accounts payable process, CLM, e-invoicing, procure-to-pay, source-to-pay, spend management.

Testimonials

Tom McKee

CIO

Kennametal Inc

SAP Ariba Icon
Highlights
Top Processes : Sales document management,Contract management,Collaboration
Top Features : Dashboard,Recording,Templates

Vendor: SAP

Founded: 1972

Company Size: 10001+

HQ Location: 3999 West Chester Pike, Newtown Square, PA 19073, USA

Financials: IPO

Concord

The Contract Success Platform

4.42

Read Reviews
Concord Icon

Concord

22.08
★★★★★
★★★★★
The Contract Success Platform

Concord is an online contract management solution. It is designed to help companies create new contracts and keep track of existing contracts. It allows businesses to automate contract management and e-signature processes and is suitable for all types of businesses and industries, ranging from freelancers to multinational corporations.

Concord creates, signs, and file contracts, without the need of doing manual contract management ever again. It is designed to manage contract authoring, track approvals, enforce workflows and audit contracts. Users can edit contracts directly through an online interface and legally binding contracts with the system's e-signature functionality.

Concord features include template building, real-time editing, approval workflows, E-signature, renewals and deadlines, storage and retention, reporting, and integrations.

Testimonials



Heather Helmig

Human Resource Manager

Widelity

Concord Icon
Highlights
Top Processes : Sales document management,Contract management,Digital signature
Top Features : Templates,Alerts: popups & Notifications,Personalization

Vendor: Concord Worldwide

Company Size: 51-100

HQ Location: San Francisco, CA

Financials: SERIES B

SAP S/4HANA Cloud

Intelligent ERP system with embedded AI and machine learning

4.04

Read Reviews
SAP S/4HANA Cloud Icon

SAP S/4HANA Cloud

20.21
★★★★★
★★★★★
Intelligent ERP system with embedded AI and machine learning

SAP S/4HANA Cloud is an enterprise resource planning (ERP) system with built-in intelligent technologies, including AI, machine learning, and advanced analytics. It helps in transforming business processes with intelligent automation, available in a public or private cloud and runs on SAP HANA – a market-leading in-memory database that offers real-time processing speeds and a dramatically simplified data model.

It enables employees in automating business processes and deliver intelligent insights to make decisions with confidence and bring critical business outcomes into focus with powerful intelligence which optimizes processes, increases planning agility, and improves product and service quality. It also helps to plan, schedule, and execute maintenance operations with integrated and optimized processes, run intelligent manufacturing production processes and turn innovations into market success, delivers better customer experiences with intelligent sales and so on.

Its key features are a 50% reduction in data footprint, allows for resilient, agile decision making, enables improved insight and performance, results in better forecasting and faster decisions eliminating clunky aggregates and indexes, reduces errors, increases productivity and many more.

Testimonials

Holger Daub

Managing Consultant

Detecon International GmbH

SAP S/4HANA Cloud Icon
Highlights
Top Processes : Sales document management,Contract management,Engagement management
Top Features : Dashboard,Recording,Templates

Vendor: SAP

Founded: 1972

Company Size: 10001+

HQ Location: 3999 West Chester Pike, Newtown Square, PA 19073, USA

Financials: IPO

Conga Contracts

Contracts automation for streamlined contract management

4.19

Read Reviews
Conga Contracts Icon

Conga Contracts

20.97
★★★★★
★★★★★
Contracts automation for streamlined contract management

Conga Contracts is a contract management solution that administers all aspects of the contract lifecycle. It offers an innovative system that allows for contract creation using company standard agreements, negotiating in a secure online environment, and much more.

Conga Contracts offers an array of tools to manage contracts for various business use and requirements. This is made possible by an enterprise-grade solution that empowers contract language, mitigate risks, and develop policies. It makes drafting, negotiation, workflow and approvals, reporting, and renewal management easy for its users. Its customer-centric dashboard provides a real-time, personalized display of data and statistics.

Conga Contracts also offers the SalesConnect feature to ensure visibility over the entire contract lifecycle management process without having to leave the Salesforce environment or the CRM platform. The system provides users with compliance reports for better access across departments in the organization, helping mitigate exposures and risks.

Conga Contracts Icon
Highlights
Top Processes : Sales document management,Contract management,Proposal & quote management
Top Features : Templates,Personalization,Alerts: popups & Notifications

Vendor: Conga

Company Size: 51-100

HQ Location: 1400 Fashion Island Blvd, Suite 100, San Mateo, California 94404, US

Financials: PRIVATE

CobbleStone Contract Insight

Enterprise Contract Management Software that easily scales with the evolving needs.

4.70

Read Reviews
CobbleStone Contract Insight Icon

CobbleStone Contract Insight

23.52
★★★★★
★★★★★
Enterprise Contract Management Software that easily scales with the evolving needs.

CobbleStone Contract Insight Enterprise Software is a contract management solution used by leading professionals and Fortune 500 companies. Invested years in industry research and development, and customer feedback, to create an award-winning platform that meets the needs and requirements of all industries including IT, Financial, Retail, Energy, Healthcare, Education, Pharma/Life Sciences, Manufacturing, and Distribution, Government, and more. It is an easy-to-navigate contract management system backed by artificial intelligence to fully optimize the organization's contracts. It helps to enhance customer relationships and improve ROI.

It also offers data integration with API plug-ins, leading CRM, vendor management, supply chain, ERP, and other standards-based software.

Its features enable organizations to manage contracts easily, draft sell and buy-side contracts, mitigate risk, manage compliance, receive alerts, sign documents with e-signature, and reduce contract management costs and lost productivity attributed to inefficient contract administration processes.

Testimonials

Diane S.

Materials/Warehouse Manager

Brownsville Public Utilities Board (BPUB)

CobbleStone Contract Insight Icon
Highlights
Top Processes : Sales document management,Contract management,Digital signature
Top Features : Alerts: popups & Notifications,Recording,Templates

Vendor: CobbleStone Software

Company Size: 101-250

HQ Location: Princeton, NJ

Financials: PRIVATE

LinkSquares

The AI-Powered Contracts Management Cloud

4.49

Read Reviews
LinkSquares Icon

LinkSquares

22.43
★★★★★
★★★★★
The AI-Powered Contracts Management Cloud

LinkSquares is an AI-powered contract analytics platform that helps to know exactly what's in the contract without having to read them one at a time. It helps to enhance customer relationships.

It helps to understand the important details buried in contracts without time-consuming and contract review. It helps to automatically extract key terms and build custom reports in seconds.

LinkSquares provides advanced multi-query and filtering capabilities to find the required details. It uses AI to extract key pieces of data from the contracts, combines them with custom reporting to easily view and share information across systems and with the team.

Testimonials

Sean Hickey

Director of Legal

DraftKings

LinkSquares Icon
Highlights
Top Processes : Sales document management,Contract management,Digital signature
Top Features : Templates,Personalization,Dashboard

Vendor: LinkSquares

Company Size: 11-50

HQ Location: 33 Arch Street, 17th Floor, Boston, Massachusetts 02110, US

Financials: SEED

Seal Software

The Leader in Contract Intelligence

4.29

Read Reviews
Seal Software Icon

Seal Software

21.44
★★★★★
★★★★★
The Leader in Contract Intelligence

Seal Software a Contract Management Platform is an AI-powered technology that helps companies minimize risk, and gain contract visibility. It helps to manage risk and enhance customer relationships.

Seal leverages elastic cloud scalability, multi-instance data security, and rapid virtual deployment to provide support for both massive enterprise-wide deployments and point-projects like M&A due diligence or post-transaction integration.

Seal includes contract discovery across a network, OCR capabilities, a repository for contracts, and analytics. It also focuses on APIs and connectors to ensure Seal can be used across many CLMs and business systems.

Seal Software Icon
Highlights
Top Processes : Sales document management,Contract management,Lead qualification
Top Features : Recording,Calculator,Personalization

Vendor: Seal Software

Company Size: 101-250

HQ Location: 1990 N California Blvd., Suite 500, Walnut Creek, CA 94596, US

Financials: PRIVATE

Ironclad

Digital Contract Management Software & Workflow system

4.48

Read Reviews
Ironclad Icon

Ironclad

22.39
★★★★★
★★★★★
Digital Contract Management Software & Workflow system

Ironclad is a contract management platform that manages contracts remotely with speed, collaboration, and real-time data at ease. It helps to launch new products and build brand awareness.

Ironclad's digital contract platform lets legal teams design and deploy any type of contract process on their own, in minutes. It provides workflow designer that combines conditionality with drag and drop UI to convert business processes into contracts. It supports collaboration and negotiation on its platform.

It is automated and has fast track control over all contracts and templates from creation, approvals, and management to archiving along with built-in redlining, editing, and audit logging capabilities. Ironclad along with storing all the records in one place, also surfaces valuable contract data in real-time.

Testimonials

Elyssa Dunleavy

Assistant Vice President, Advertising Counsel

L'Oreal USA

Ironclad Icon
Highlights
Top Processes : Sales document management,Contract management,Workflow management
Top Features : Templates,Recording,Personalization

Vendor: Ironclad

Company Size: 101-250

HQ Location: 134 Spring St, New York, NY 10012, US

Financials: SERIES E

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What is Contract Management?

Contract Management

Contract Management, also known as Contract Lifecycle Management ( CLM) is the management of the company’s contracts from creation through execution to renewal/expiry. These contracts can come from vendors, partners, customers, and employees. Contracts can be Sales Contracts, Licensing Agreements, Service Agreements, Non-Disclosure Agreements ( NDA ), Employment Agreements, Government Contracts to name a few. Digitizing and automating contract lifecycle management is one of the key aspects of Digital Transformation. Contract Management is the backbone of the quote-to-cash process.

Stages in CLM

Stages in CLM
Create

Requests for a new contract can originate from Sales Teams either for new contract, amendment, or renewal. Typically in an enterprise, the Legal department is responsible for generating the contract either standard or custom specifications. Contracts are created using authoring tools and templates to include all request points, terms, and clauses.

Negotiate

Multiple parties are involved in the negotiation phase to discuss/debate what final terms and clauses need to be incorporated. This is a collaborative effort that involves back and forth communication and various versions of the document need to be tracked.

Approve

Once the contract terms are finalized, it needs to be approved by all the parties involved. Depending on the size of the contract and size of the company, there could be many people involved and also would involve a hierarchy of approval process. People involved could be Legal, Executive, stakeholders, internal team members, and customers.

Sign

Digital signatures are needed to sign digital documents. The correct authority needed to sign contracts needs to be defined. These rules could be based on the type of contract, amount, location, and other variations. Once the contracts are signed, they have to be appropriately stored for easy access and search.

Until the contract is signed, nothing is real

G D

Glenn Danzig

American Musician
Execute

Once the signed contracts are in place, communicate to all concerned parties - obligations involved, milestones, deadlines, and penalties.

Track

This phase involves overseeing and reporting on performance, handling claims and disputes, negotiating and record changes. Also, contract execution has to be closely monitored for any signs of non-compliance.

Renew

Many contracts have end dates which the parties need to track to decide the next steps - lapse, renew, or renegotiate. If the work is of a recurring nature, the contract should not be allowed to lapse and needs to be renewed. Renewals typically go through almost the same stages of lifecycle like a new contract, but with much less rigor.

Exit

Contracts that have end dates need to go through the termination process identifying any ongoing obligations. Concerned parties have to be communicated about the contract ending.

What is Contract Management Software?

Contract Management Software helps to manage and automate the various processes within CLM. In addition, it helps to store and manage the contract repository which is critical for

E-contracts. Contract Management is not a standalone activity. It is very much intertwined with quoting and revenue generation processes and legal functions. For Sales, contract management is used to automate and enable faster, more accurate production and delivery of legal-approved contracts to a company’s prospects or customers.

4 Benefits of Contract Management Software

4 Benefits of Contract Management Software

Improved Visibility into Contract Management

Contracts go through several stages by the time they get fully approved and several people/roles are involved. By having an automated contract management system, companies get full visibility about at what stage the contract is held up and can analyze the progress of the contract. Automated workflows associated with SLA ensure that there are no bottlenecks and executive intervention can be provided at any stage. Along with associated metrics and analytics, companies can fully manage the contracts efficiently.

Improved Collaboration and Negotiation

Automated contract management ensures that all the people and stakeholders collaborate on the system. This avoids manual back and forth processes and helps team members to resolve issues and questions efficiently. Reviews can be done more efficiently on collaborative platforms. The negotiation process and the associated back and forth can be optimized with the collaboration platform. Ability to track changes, automatic versioning, comments, chat, ability to share, and check documents improve the collaboration.

Improved Operational Efficiency

Contract Management System is a key step in the organization’s journey towards digital transformation. Key features of Contract Management Software like workflows, collaborative add-ons, e-signature, and central storage, easy search and access, security, and access control help organizations to bring efficiencies.

Improved Audit Compliance

Contract Management Software provides audit trail capability and the user can view the entire contract history on a centralized dashboard. This helps companies to better prepare for audits with complete contract history and ensure compliance with Sarbanes Oxley or other internal compliance norms.

Who are the users of Contract Management Software?

In an enterprise, the Legal Department is often responsible for creating, managing, and maintaining contracts.

Depending on the size of the company and the size of the transactions involved, companies can have a dedicated role called Contracts Manager. The Contracts Manager is responsible for financial health and monitoring of contracts, ensuring quality compliance, and the company’s procedures are adhered to and objectives are achieved. In such a case, the Contracts Manager is the key user of Contract Management Software.

Sales team members, managers, and stakeholders are key users of the software as they will be involved in giving inputs to contracts, negotiate, amend, approve, and sign. They rely on contract management software to reduce paperwork, speed up the approval process, and simplify the contract and proposal process.

Company Executives who need to approve and sign are users of the software.

Finance team members are key users as they need to get visibility into payment terms and schedules, pending transactions, financial liabilities, and compliance exposure. Finance and Compliance go hand in hand.

Procurement professionals need to use contract management software to negotiate better deals and ensure supplier compliance. In Fortune 500 companies and multinational enterprises, procurement professionals rely on contract management platforms to ensure supplier accountability, ensure commercial compliance, and improve contractual governance.

Which industries benefit from Contract Management Software?

Contract Management Software is relevant for almost any industry where there is a need to have contracts with customers, suppliers, and clients. Some industries specifically benefit a lot from the usage like Telecommunications, Financial Services, Energy, Healthcare, Technology, Life Sciences, and Pharma, Manufacturing, Professional Services, Retail to name a few.

The telecom industry is a dynamic industry where digitization is highly prevalent in commercial operations. It needs the ability to launch new products quickly, with many different plan options for its customers with associated contracts and terms and clauses. Contract Management Platforms by Apptus and iCertis support this need.

Financial Services need to deal with their Corporate and Retail clients that involve a lot of paperwork, negotiation, amendments, and renewals. They also have to ensure regulatory compliance. Contract Management Software helps them to achieve their business goals with centralized contract management and achieve customer satisfaction.

Energy companies are globally dispersed and have an array of business partners, suppliers, and distributors and operate in a highly regulated market. They need robust contract management support to handle highly complex contracts that range from infrastructure to sourcing, risk and obligation management, and collaboration with multiple stakeholders.

The healthcare industry needs frequent plan changes and updates to stay competitive and customer friendly. Also, they have to ensure compliance in a highly regulated market. This requires close contract collaboration between insurers, physicians/doctors/hospitals, and stakeholders.

Medical device and diagnostic equipment manufacturers can improve their sales effectiveness, ensure contract compliance, and handle rebate disputes when they work with suppliers, customers, and partners. Pharma and Biotech companies are challenged by complex drug and clinical trial processes, highly regulated promotional programs, and complex supply chains. They need more complex contracts to deal with such challenges. Also, they need to link contract obligations to R&D project milestones. Products like iCertis, Apttus specially cater to such challenges faced by the Pharma industry. Pharma industry’s procurement divisions rely on contract management software to optimize productivity and cost across the supply chain, and manage vendor compliance.

Why Contract Management is Important?

Longer Cycle time to close Contracts

Contracts go through several stages of processing before it is finally approved. Several functions and roles are involved and it could cross department and/or organizational boundaries. All these introduce delays and bring unpredictability in closing the contracts. Contract Management Software with automated workflows expedites the review and approval process. Dashboards provide visibility and email notifications sent to concerned people help in unblocking the processing and proper escalation procedures can be set up. All these result in faster closure.

Lack of Consistent Process

Contract Management Software helps organizations to bring consistency in the process and procedure adoption. The software provides several standard templates tailored for different business use cases and can be customized to fit the organization’s needs. Organizations can ensure that people are using standard templates with latest clauses, all these available from the standard library.

Adhoc Contract Storage

Contract Management Software provides a central repository to store and manage all company’s contracts. They also provide easy search, store, archival, and retrieval mechanisms since records are digitized. This greatly reduces the administrative burden for the organization.

Missed Renewal Reminders

Renewal based revenue is the easiest way of generating revenue for an organization. Contract Management Software helps to set notifications based on rules and generate alerts when renewals are due. With this, organizations can rarely miss renewals.

Key Features of Contract Management Software

Workflow Management

Contracts pass through several functions as part of their lifecycle. Automates workflows help in streamlining this process and ensure that all the steps are followed. The workflow manager helps to track and monitor contracts. Some software like Contract Logix provide visual workflow designers with options to design multiple steps, assign tasks, send notifications, and conditional branching.

Centralized Repository

The ability to store and archive all contracts in electronic form in a centralized repository is a key feature of Contract Management Software. User needs to have easy and secure access to the contract documents. The software also provides the ability to view documents at a level that is apt for the role and the task. Documents can be viewed in full, or snippets at function, organization, and task level.

Search

Effective Contract Management Software provides versatile search capabilities that allow capturing full text of documents, metadata, document history, comments, notes, and all associated information. Some of the software provide a text-based search wherein a phrase can be used to search for relevant documents.

Role-Based Access

Since contracts are company confidential documents and several people need to work/access it, Contract Management Software provides a role-based access control system to govern access to the documents. Access control could be at any granular level based on user roles, geographies, departments.

Visualization - Dashboards and Reports

Contract Management Software provides dashboards to visualize insights and take action. Dashboards provide visibility into contract management metrics that help stakeholders and executives to take action. Some vendors like iCertis provide personalized dashboards specific to the role. In addition, the software provides reports regarding the various aspects of the life cycle. Reports can be customized as per organizational and role-specific needs.

eSignature

Having an integrated eSignature capability speeds up contract approvals and hence the overall cycle time. Contract Management Software can come with embedded eSigning ability or can provide integration with other e-signature solutions like DocuSign, Adobe Sign, and other electronic signature platforms.

Template Library

One of the key benefits of Contract Management Software is it provides ready to use standard templates that are specific to business and industry. Additionally, it can include a company-specific clause library that speeds up the creation of contracts.

AI in Contract Management Software

AI is applied in Contract Management Software by vendors for solving a variety of use cases and providing enhanced value to customers.

Apttus applied AI to automate routine legal tasks so that lawyers can focus on high-value activities. It provides intelligent recommendations so they can deliver their expertise with full knowledge of all available, relevant information.

Artificial Intelligence can convert unstructured contract documents into structured enterprise data. Applying AI in contract management can help the enterprise in identifying business risks and opportunities; Machine Learning and AI help in identification and analysis of the contract language, clauses, and other data. This helps in identifying risks and helps in negotiation. Especially while processing large volumes of data in complex contracts, this will be useful. AI helps in classifying the clauses, helps to build the clause library.

AI algorithms backed by NLP can do abstraction and migration and can create an index of all provisions, terms, and obligations. So companies can extract all important information from contracts like vendor names, renewal dates, organization data, milestones, penalties. Further, these can be auto-tagged and alerts can be set.

iCertis provides a set of AI-based applications. They have capabilities to quickly import third-party contracts at scale, analyze past negotiation history to gain insights for improvement, and visualize deep data insights that provide unprecedented visibility into contract relationships and performance.

Factors to Consider to Choose Right Contract Management Software

Assessing Business Requirements

It is important to assess the business goals, current processes, and roadmap of the digital transformation journey before selecting the tool. One size does not fit all. The software has to fit into the existing ecosystem and processes and not the other way around. Having good clarity on business goals helps to look at the features needed critically. For example, if ad-hoc processes or longer cycle time is a problem, a software tool that provides advanced workflows, alerts and notifications, analytics, and associated e-signature would help to solve business problems.

Size of the Company

The choice of the software is largely dependent on the size of the company - Enterprise or SMB. Also, it depends on the nature of the business. A service provider company dealing with a large number of clients with a huge volume of contracts would need the scale. Enterprise companies need more robust features around sophisticated workflows, robust user control, personalized dashboards for the various users, and a high degree of customization, and data security. An SMB would need a simplistic platform with ease of use, less administration, and configuration overheads.

On-premise vs Cloud

Cloud or SaaS deployment models provide lesser administrative overheads for companies and also can be cost-effective if the scale of the contract management system is moderate. However, companies with stringent security and control systems might have reservations to go for the cloud model. Such companies might prefer an on-premise model to have full control over data security, user control, and contract repository management.

Capabilities

Contract Management Software comes with a varied set of capabilities as detailed in the earlier section and it is important to assess the features to see whether it meets the needs. AI-based systems provide additional value in terms of improved analysis, automated tasks, and can help in risk management.

Integration

Integration with other tools in the organization enhances the value delivered to the user and provides a seamless experience. If a user has to switch between applications, it can be a productivity killer. Contract Management Software should integrate with popular CRM like Salesforce or Microsoft Office 365 to create, view, approve, or collaborate contracts.

Data Security

Contracts and agreements are confidential data of a company. The contract repository and the access mechanism should ensure data security through password protection and encryption. Contract data should be encrypted during transit and at rest to protect from tampering by unauthorized users. Advanced encryption technology like AES 256 bit encryption and TLS 1.2 standards are adopted by Contract Management Software. In addition, the software should also support data privacy standards like GDPR which many local governments make it mandatory to adhere to.

User Control

This is a very critical requirement to be assessed. The software should provide user controls that fit into the usage and role-based needs of the organization. The granularity of access control is directly related to the complexity of the organization structure.

Challenges in Adopting Contract Management Software

Companies can face several challenges in adopting Contract Management Software. Challenges can be faced when they migrate from one tool to another - in this case, lack of data migration support can hinder new tool adoption.

A lot of the adoption challenges depend on the company’s existing processes or lack of, the maturity of digital transformation and ad-hoc contracts. It requires cultural change, skill-building, and training to ease the adoption challenges.

If the software does not provide enough customization capability, it would seriously hinder adoption. It could be related to the workflow configuration, alerts, dashboards, and reports. Lack of customization might render the software unusable or underutilized.

There should be provision to migrate existing manual paper-based contracts into the digital form. Else it will result in disparate systems to manage.

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105 Contract Management Software

Agiloft Contract Management Suite

Automates the workflows associated with initiating, executing, and monitoring contractual agreements

4.66

Read Reviews
Agiloft Contract Management Suite Icon

Agiloft Contract Management Suite

4.66
★★★★★
★★★★★
Automates the workflows associated with initiating, executing, and monitoring contractual agreements

Agiloft Contract Management Suite is an adaptable and rapidly deployed enterprise software for Contract and Commerce Lifecycle Management. It helps to improve ROI and enhance customer relationships.

Highlights
Top Business Usecases : Sales document management,Contract management,Workflow management
Top Features : Recording,Ticketing,Alerts: popups & Notifications
Agiloft Contract Management Suite Icon

Vendor: agiloft

Founded: 1991

Company Size: 51-100

HQ Location: 460 Seaport Court, Suite 200, Redwood City, CA 94063

Financials: PRIVATE

Icertis

CLM platform that delivers business intelligence to the organization through contract intelligence.

4.41

Read Reviews
Icertis Icon

Icertis

4.41
★★★★★
★★★★★
CLM platform that delivers business intelligence to the organization through contract intelligence.

Icertis is a cloud-based Contract Management platform that transforms contracts into business assets providing new capabilities to increase revenue, control cost, and manage risk. It is a unique platform built for enterprises looking to increase contract velocity and visibility not only in their sales deals closure but also to ensure maximum utilization of obligations from their procurement vendors too.

Highlights
Top Business Usecases : Sales document management,Contract management,Collaboration
Top Features : Templates,Dashboard,Recording
Icertis Icon

Vendor: Icertis

HQ Location: 2001 Gateway Pl, San Jose, CA 95110, US

SAP Ariba

Procurement & Supply Chain Solutions for Spend ...

4.16

Read Reviews
SAP Ariba Icon

SAP Ariba

4.16
★★★★★
★★★★★
Procurement & Supply Chain Solutions for Spend ...

SAP Ariba is a leading source-to-contract solution. This integrated solution covers sourcing, procurement and financial supply-chain solutions. Using Ariba cloud based solution, companies can achieve digital transformation from source to pay, control spending and find new sources of savings.

Highlights
Top Business Usecases : Sales document management,Contract management,Collaboration
Top Features : Dashboard,Recording,Templates
SAP Ariba Icon

Vendor: SAP

Founded: 1972

Company Size: 10001+

HQ Location: 3999 West Chester Pike, Newtown Square, PA 19073, USA

Financials: IPO

Concord

The Contract Success Platform

4.42

Read Reviews
Concord Icon

Concord

4.42
★★★★★
★★★★★
The Contract Success Platform

Concord is an online contract management solution. It is designed to help companies create new contracts and keep track of existing contracts. It allows businesses to automate contract management and e-signature processes and is suitable for all types of businesses and industries, ranging from freelancers to multinational corporations.

Highlights
Top Business Usecases : Sales document management,Contract management,Digital signature
Top Features : Templates,Alerts: popups & Notifications,Personalization
Concord Icon

Vendor: Concord Worldwide

Company Size: 51-100

HQ Location: San Francisco, CA

Financials: SERIES B

SAP S/4HANA Cloud

Intelligent ERP system with embedded AI and machine learning

4.04

Read Reviews
SAP S/4HANA Cloud Icon

SAP S/4HANA Cloud

4.04
★★★★★
★★★★★
Intelligent ERP system with embedded AI and machine learning

SAP S/4HANA Cloud is an enterprise resource planning (ERP) system with built-in intelligent technologies, including AI, machine learning, and advanced analytics. It helps in transforming business processes with intelligent automation, available in a public or private cloud and runs on SAP HANA – a market-leading in-memory database that offers real-time processing speeds and a dramatically simplified data model.

Highlights
Top Business Usecases : Sales document management,Contract management,Engagement management
Top Features : Dashboard,Recording,Templates
SAP S/4HANA Cloud Icon

Vendor: SAP

Founded: 1972

Company Size: 10001+

HQ Location: 3999 West Chester Pike, Newtown Square, PA 19073, USA

Financials: IPO

Conga Contracts

Contracts automation for streamlined contract management

4.19

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Conga Contracts

4.19
★★★★★
★★★★★
Contracts automation for streamlined contract management

Conga Contracts is a contract management solution that administers all aspects of the contract lifecycle. It offers an innovative system that allows for contract creation using company standard agreements, negotiating in a secure online environment, and much more.

Highlights
Top Business Usecases : Sales document management,Contract management,Proposal & quote management
Top Features : Templates,Personalization,Alerts: popups & Notifications
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Vendor: Conga

Company Size: 51-100

HQ Location: 1400 Fashion Island Blvd, Suite 100, San Mateo, California 94404, US

Financials: PRIVATE

CobbleStone Contract Insight

Enterprise Contract Management Software that easily scales with the evolving needs.

4.70

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CobbleStone Contract Insight

4.70
★★★★★
★★★★★
Enterprise Contract Management Software that easily scales with the evolving needs.

CobbleStone Contract Insight Enterprise Software is a contract management solution used by leading professionals and Fortune 500 companies. Invested years in industry research and development, and customer feedback, to create an award-winning platform that meets the needs and requirements of all industries including IT, Financial, Retail, Energy, Healthcare, Education, Pharma/Life Sciences, Manufacturing, and Distribution, Government, and more. It is an easy-to-navigate contract management system backed by artificial intelligence to fully optimize the organization's contracts. It helps to enhance customer relationships and improve ROI.

Highlights
Top Business Usecases : Sales document management,Contract management,Digital signature
Top Features : Alerts: popups & Notifications,Recording,Templates
CobbleStone Contract Insight Icon

Vendor: CobbleStone Software

Company Size: 101-250

HQ Location: Princeton, NJ

Financials: PRIVATE

Ultria CLM

Ultria: Contract Lifecycle Management Software | CLM Software

4.00

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Ultria CLM

4.00
★★★★★
★★★★★
Ultria: Contract Lifecycle Management Software | CLM Software
Highlights
Top Business Usecases : Sales document management,Contract management,Workflow management
Top Features : Templates,Dashboard,Calculator
Ultria CLM Icon

Vendor: Ultria

HQ Location: 103 Carnegie Center, Suite 201, Princeton, New Jersey 08540, US

CMx- Contract Management Experience

CMx: The Contract Management Platform for your business

4.44

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CMx- Contract Management Experience

4.44
★★★★★
★★★★★
CMx: The Contract Management Platform for your business
Highlights
Top Business Usecases : Sales document management,Contract management,Digital signature
Top Features : Alerts: popups & Notifications,Templates,Personalization
CMx- Contract Management Experience Icon

Vendor: Sysintellects

Company Size: 11-50

HQ Location: 101 E Park Blvd, Plano, Texas 75074, US

Financials: PRIVATE

LinkSquares

The AI-Powered Contracts Management Cloud

4.49

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LinkSquares

4.49
★★★★★
★★★★★
The AI-Powered Contracts Management Cloud

LinkSquares is an AI-powered contract analytics platform that helps to know exactly what's in the contract without having to read them one at a time. It helps to enhance customer relationships.

Highlights
Top Business Usecases : Sales document management,Contract management,Digital signature
Top Features : Templates,Personalization,Dashboard
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Vendor: LinkSquares

Company Size: 11-50

HQ Location: 33 Arch Street, 17th Floor, Boston, Massachusetts 02110, US

Financials: SEED

Seal Software

The Leader in Contract Intelligence

4.29

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Seal Software

4.29
★★★★★
★★★★★
The Leader in Contract Intelligence

Seal Software a Contract Management Platform is an AI-powered technology that helps companies minimize risk, and gain contract visibility. It helps to manage risk and enhance customer relationships.

Highlights
Top Business Usecases : Sales document management,Contract management,Lead qualification
Top Features : Recording,Calculator,Personalization
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Vendor: Seal Software

Company Size: 101-250

HQ Location: 1990 N California Blvd., Suite 500, Walnut Creek, CA 94596, US

Financials: PRIVATE

Ironclad

Digital Contract Management Software & Workflow system

4.48

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Ironclad

4.48
★★★★★
★★★★★
Digital Contract Management Software & Workflow system

Ironclad is a contract management platform that manages contracts remotely with speed, collaboration, and real-time data at ease. It helps to launch new products and build brand awareness.

Highlights
Top Business Usecases : Sales document management,Contract management,Workflow management
Top Features : Templates,Recording,Personalization
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Vendor: Ironclad

Company Size: 101-250

HQ Location: 134 Spring St, New York, NY 10012, US

Financials: SERIES E

Docusign CLM

DocuSign CLM: Automate agreement life cycle

4.30

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Docusign CLM

4.30
★★★★★
★★★★★
DocuSign CLM: Automate agreement life cycle

Docusign CLM allows organizations to streamline the agreement lifecycle by transforming analog manual processes into a digital automated workflow. The result is an accelerated pace of doing business, increased compliance, and more efficient employees.

Highlights
Top Business Usecases : Sales document management,Contract management,Workflow management
Top Features : Templates,Dashboard,Alerts: popups & Notifications
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Vendor: Docusign

Founded: 2003

Company Size: 1001-5000

HQ Location: 221 Main St., Suite 1550, San Francisco, CA 94105

Financials: SERIES F

ContractSafe

Contract Management Software | Start for Free

4.72

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ContractSafe

4.72
★★★★★
★★★★★
Contract Management Software | Start for Free

ContractSafe is a cloud-based contract management software that helps users easily keep track of all their documents. It facilitates the entire contract management lifecycle including creation, negotiation, administration, and renewal. It automates the contract lifecycle and increases productivity.

Highlights
Top Business Usecases : Sales document management,Contract management,Advertisement
Top Features : Alerts: popups & Notifications,Auto renewal,Dashboard
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Vendor: ContractSafe

Founded: 2015

Company Size: 1-10

HQ Location: 23823 Malibu Road Suite 50-197, Malibu, CA 90265

Financials: PRIVATE

Dealhub

A complete end-to-end Deal Acceleration Platform managing every sales engagement touchpoint.

4.73

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Dealhub

4.73
★★★★★
★★★★★
A complete end-to-end Deal Acceleration Platform managing every sales engagement touchpoint.

Dealhub is a sales proposals and contract management platform for sales teams to close deals faster and increase revenue.

Highlights
Top Business Usecases : Sales document management,Proposal & quote management,Contract management
Top Features : Personalization,Templates,Interactive content
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Vendor: Dealhub

Company Size: 11-50

HQ Location: 815-A Brazos Street, Suite 705, Austin, Texas, 78701

Financials: PRIVATE

Docsmore

docsmore: Weather The Paperstorm

4.61

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Docsmore

4.61
★★★★★
★★★★★
docsmore: Weather The Paperstorm

Docsmore is a document management platform that helps to simplify the paperwork process in the office. It helps to acquire customers and improve internal communications.

Highlights
Top Business Usecases : Sales document management,Digital signature,Contract management
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Vendor: Docsmore

Company Size: 11-50

HQ Location: Piedmont Triad - NC, Winston Salem, NC US

Financials: SEED

Qwilr

Qwilr - Software for creating proposals, quotes and documents as ...

4.56

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Qwilr

4.56
★★★★★
★★★★★
Qwilr - Software for creating proposals, quotes and documents as ...

Qwilr is a software for creating sales and marketing documents such as proposals, quotes and other business documents and can be used by individuals or sales and marketing teams in large enterprises.

Highlights
Top Business Usecases : Sales document management,Proposal & quote management,Digital signature
Top Features : Templates,Personalization,Alerts: popups & Notifications
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Vendor: Qwilr

Founded: 2014

Company Size: 11-50

HQ Location: Level 1, 7 Hudson St Redfern NSW 2016 Australia

Financials: PRIVATE

GetAccept

Sales Enablement Platform Fully Enhances B2B Sales Experience

4.53

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GetAccept

4.53
★★★★★
★★★★★
Sales Enablement Platform Fully Enhances B2B Sales Experience

GetAccept is a sales enablement and electronic signature solution platform for sales, sales operation, customer success and legal teams to close the deals faster and increase revenue.

Highlights
Top Business Usecases : Sales document management,Contract management,Digital signature
Top Features : Personalization,Templates,Alerts: popups & Notifications
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Vendor: Getaccept

Founded: 2015

Company Size: 101-250

HQ Location: 73 Sumner St, San Francisco, CA 94103, USA

Financials: SERIES A

PandaDoc

PandaDoc - Sales Documents That Close - Proposals, Quotes ...

4.50

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PandaDoc

4.50
★★★★★
★★★★★
PandaDoc - Sales Documents That Close - Proposals, Quotes ...

PandaDoc is an all-in-one document automation solution. PandaDoc allows its users to create, deliver, and share documents online and place their legally binding signatures for faster paperless transactions and processes. It can be used by any business or organization where document building, sharing and delivery are integral to operation. It is ideal for use by the sales, marketing, finance, legal and operations departments.

Highlights
Top Business Usecases : Sales document management,Proposal & quote management,Contract management
Top Features : Templates,Personalization,Alerts: popups & Notifications
PandaDoc Icon

Vendor: Pandadoc

Founded: 2011

Company Size: 101-250

HQ Location: 153 Kearny Street, 5th floor San Francisco, CA 94108

Financials: SERIES B

Oneflow

Contract automation - Speed up your entire contract workflow with Oneflow

4.46

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Oneflow

4.46
★★★★★
★★★★★
Contract automation - Speed up your entire contract workflow with Oneflow

Oneflow is a Contract Management Software. Oneflow is a contract builder with an integrated e-signing solution and a live document editor. With Oneflow, user can e-sign documents online securely and legally. Oneflow provides access to interactive proposals. This allows soon-to-be clients to get preview while perusing provided quote. This way, they can add more items or services to their shopping cart and see the adjusted final price automatically.

Highlights
Top Business Usecases : Sales document management,Contract management,Digital signature
Top Features : Templates,Personalization,Alerts: popups & Notifications
Oneflow Icon

Vendor: Oneflow

Company Size: 11-50

HQ Location: Linnégatan 9, Stockholm, 114 47, SE

Financials: PRIVATE

iQuote Xpress

Quote management software | iQuoteXpress

4.45

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iQuote Xpress

4.45
★★★★★
★★★★★
Quote management software | iQuoteXpress

iQuote Xpress is a CPQ software. It automates and improves company's quoting process. iQuote Xpress helps to deliver customized, integrated and fully supported sales proposal and quoting solutions.

Highlights
Top Business Usecases : Sales document management,Proposal & quote management,Products & pricelist management
Top Features : Templates,Calculator
iQuote Xpress Icon

Vendor: iQuote Xpress

Company Size: 51-100

HQ Location: 4240 Fulton Ave, Suite 112, Studio City, California 91604, US

Financials: PRIVATE

Accelo

Manage your projects against budgets and resources in real time

4.39

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Accelo

4.39
★★★★★
★★★★★
Manage your projects against budgets and resources in real time

Accelo is a cloud based, fully integrated Professional Services Automation Software. The Service Operations (ServOps) Automation software helps to improve productivity and profitability of services business. Users in the professional service sector - accountants, architects, engineers, designers, consultants, MSPs will benefit from using this softwarae.

Highlights
Top Business Usecases : Sales document management,Communication management,Engagement management
Top Features : Ticketing,Templates,Dashboard
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Vendor: Accelo

Founded: 1983

Company Size: 51-100

HQ Location: 530 Howard St, Floor 2 San Francisco, CA, 94105

Financials: SERIES A

RT DocuSign

SugarCRM Module - SugarOutfitters

4.12

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RT DocuSign

4.12
★★★★★
★★★★★
SugarCRM Module - SugarOutfitters

RT DocuSign is a Contract Management Software. Send contracts and have them signed by customers, enhances the customer management process, by closing deals faster.

Highlights
Top Business Usecases : Sales document management,Digital signature,Contract management
RT DocuSign Icon

Vendor: Sugarcrm

Founded: 2004

Company Size: 501-1000

HQ Location: 10050 N Wolfe Rd, Cupertino, CA 95014

Financials: PRIVATE

Uplevl

Uplevl - Uplevl

4.06

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Uplevl

4.06
★★★★★
★★★★★
Uplevl - Uplevl

Uplevl is a contract management platform that eliminates paperwork and automates manual processes. It helps to enhance customer relationships and improve ROI.

Highlights
Top Business Usecases : Workflow management,Sales document management,Contract management
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Vendor: Uplevl

Company Size: 1-10

HQ Location: Fort Lauderdale, FL

Financials: PRIVATE