Contract management software is an innovative solution designed to support organizations in effectively managing the entire life cycle of their contracts. This type of software facilitates the streamlining of all processes associated with the creation, execution, and ongoing supervision of agreements and documents. By offering a unified platform for the secure storage of contracts, it simplifies the complexities involved in handling these critical documents
Best contract management software and systems
Lets have a look at some of the best contract management software on the market:
Concord
Concord offers an easy-to-use contract management solution that’s perfect for small business owners. The platform simplifies the entire contract lifecycle, from drafting to e-signing — all in one place.
The app is easy to set up and use, so you can start uploading and signing contracts in minutes. Every subscription comes with a free dedicated customer success manager, who’s available around the clock to help with onboarding and support. Collaborate and negotiate effortlessly with team members and external partners, thanks to features like real-time commenting, redlining, and track-changes functionality.
The software’s advanced contract repository with OCR technology ensures you can easily find any document. Plus, a customizable analytics dashboard and downloadable reports provide valuable insights into your contracts, helping you make informed decisions to scale your business.
Concord offers a free 14-day trial without the need for a credit card, and plans start at just $17 per month.
PandaDoc
PandaDoc is an all-in-one platform designed for secure collaboration, meticulous management, and precise contract tracking. The platform simplifies the complexities involved in contract management, offering tools for contract automation, drafting, and approval processes—well before these contracts are presented to clients.
The versatility of PandaDoc’s contract management platform is one of its standout features. It is engineered to accommodate nearly any business process that necessitates document management alongside electronic signature capabilities. From the initial drafting to the final approval and execution stages, PandaDoc ensures that every phase of the contract lifecycle is covered, making it easier for all businesses to handle their contract-related tasks with greater efficiency and less hassle.
PandaDoc offers a free 14-day trials and plans that start from $19 per month.
DocuSign
Accessible via web or mobile apps for Android and iOS, DocuSign offers features like reusable templates, reminders, payment collection, real-time notifications, and a content repository. Users can customize emails and utilize smart forms integrated with over 400 services such as Salesforce and Google.
Especially valued by small businesses are its court-admissible audit trails, secure storage, and GDPR compliance. DocuSign tailors plans to specific sectors like real estate, government, and healthcare, addressing varied regulatory requirements.
DocuSign offers a 30-day trial with an e-signature and plans that start from $10 per month
Qwilr
Qwilr offers a comprehensive suite of sales automation and content management tools, including advanced contracting, content creation, and buyer tracking functionalities. Its appeal lies in its ability to streamline sales processes and enhance contract management through automated sales tools, detailed analytics, and reporting capabilities. Users can effortlessly create contracts, proposals, and quotes using customizable templates that incorporate specific details such as company names, contact information, and pricing.
Additionally, the platform provides sales teams with drag-and-drop template customization and access to a vast Unsplash image library for creating professional-looking sales materials quickly.
Its buyer engagement tracking also offers instant updates on buyer interactions, making it an ideal solution for sales teams aiming to consolidate their sales automation and contract management tasks into a single, efficient platform.
Qwilr offers a 14-day trial and plans that start from $35 per month.
Oneflow
Oneflow is a digital contract lifecycle platform that streamlines the entire contract process, from drafting to signing and beyond. What sets apart Oneflow from other contract management systems is – allowing video explanations for signers, enabling on-the-spot editing and live updates during negotiations, and offering customizable contract fields. This creates a more engaging, personalized signing experience.
Particularly beneficial for HR, procurement, and sales teams, Oneflow enhances competitiveness through its unique personalization capabilities. Additionally, it offers a secure, auto-updating repository for contracts, alongside workflow automation and access control, ensuring efficiency and security.
Oneflow offers a 14-day trial + demo and plans that start from $22 per month.
Outlaw
Outlaw provides comprehensive visibility with unlimited contracts, storage, and e-signature capabilities, streamlined for quick setup and supported by live chat. Despite its limitation that only specific individuals can sign agreements, a feature not necessary for all companies, Outlaw remains an attractive choice since its inception in 2017. It is equipped with a rich dashboard, AI-assisted analytics for enhanced reporting, and a range of features like native e-signature, cloud-based editing, secure payments via Stripe, real-time notifications, and full-text search.
Additionally, its self-service templates and dynamic contract fields, coupled with AI analytics, facilitate efficient management of contract timelines, statuses, and activities. Outlaw integrates seamlessly with platforms like Salesforce, HubSpot, Zapier, Slack, and QuickBooks, while ensuring data security in SOC 2-compliant centers.
Outlaw offers unique solutions depending on your needs. You can choose to pay on a monthly, quarterly, or annual basis per user.
ContractWorks
ContractWorks is a platform that is designed to enhance contract drafting processes, offering unique features such as a live preview, the capability for in-document alterations by any involved party, and the use of artificial intelligence to generate definitions for crucial terms.
These tools are made accessible once the legal department configures the system, enabling users across the organization to generate contracts with ease.
Recognizing the challenges in adopting such a robust system, ContractWorks mitigates these with complimentary implementation support, guiding new users through the initial setup to ensure a smooth transition. This blend of high-end features and support highlights ContractWorks’ commitment to offering a comprehensive contract management solution, albeit with considerations around usability and cost.
ContractWorks offers plans that start at around $700 per month for basic plans and up to $2000 for enterprise plans.
Proposify
Proposify stands out as a sophisticated document management platform, specifically designed to streamline the process of contract development and management. It enables users to efficiently generate contracts by leveraging a wide array of templates or by starting from scratch, thus facilitating a flexible approach to contract creation. One of the key features of Proposify is its capacity to allow for electronic signatures, thereby expediting the contract signing process significantly.
Proposify is particularly beneficial for sales and marketing teams, thanks to its versatility in drafting and managing not only contracts but also proposals and quotes. This capability makes it an invaluable tool for sales teams, who can leverage the template-based approach for a faster response time in client communications.
Proposify offers 14-days trial and plans that start from $49 per month
Conclusion
These platforms offer various features tailored to meet different business needs, including e-signing, contract drafting, and secure collaboration, making them invaluable tools for any organization looking to optimize their contract management processes.
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