Software for managing contracts is essential for contemporary companies. By using these tools, businesses can quickly and easily create, save, amend, and monitor their contracts, doing away with the need for human data entry and paperwork. It’s not simple to choose the best software application for your company, though. Even though the majority of contract management solutions are simple to use, integrating them with existing workflows frequently requires some extra setup. Let’s examine the 10 best contract management software!
Table of Contents
1. PandaDoc
PandaDoc is a comprehensive solution for safe management, contract tracking, and communication. With the help of this all-inclusive contract lifecycle management solution, internal teams can easily manage contracts at scale, from contract automation and drafting to contract approval (prior to delivery to clients) and signature and payment. Because of the versatility of its contract management platform, it may be used for nearly any business activity that calls for electronic signatures and document management.
2. Proposify
Software for managing and developing contracts is called Proposify. Contracts can be created by users using templates, and e-signatures can be used to get them signed.Fields are automatically filled in by the program to expedite the drafting process and lower human error rates.
Within the product, approval workflows can be configured with predefined sending, editing, and user rights.
Because it can be used to create and maintain bids and proposals, this platform is very useful for teams in charge of sales and marketing. Sales teams can communicate with clients more quickly by using the templates. Marketing teams can create pre-approved material and branded sales enablement collateral that can be utilized by departments in the interim.
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3. Qwilr
Qwilr is a content management system and sales automation tool featuring contracting, buyer tracking, and collateral features.In addition to contract administration, this platform offers analytics, reporting, and sales automation capabilities.
Further, the creation of contracts, proposals, and quotes can be automated with customized variables such business names, contact information, and price lists. Permissions, brand control, and e-signature streamline contract administration.
This might be a useful tool for sales teams who want to manage contracts and other collateral in one platform and automate their procedures. Sales representatives can easily and quickly develop professional, branded collateral with the help of an Unsplash image library and ready-made templates that can be customized with drag-and-drop ease.
Besides, real-time notifications on buyer actions are sent to users by the tool’s buyer engagement tracking feature.
4. SpotDraft
Software for managing contracts called SpotDraft includes campaign management, templates, workflows, a repository, and reporting.Users can construct editable templates from scratch or from pre-existing Word documents using the software’s template capability.
Besides, you may easily personalize an existing template by changing its variables to placeholders before using it again. Workflow features allow tasks to be automatically assigned to designated individuals, and basic, standard contracts can even have auto-signing enabled.
With role-based access controls and automated report production, users can store, search, and access contracts in the tool’s repository.
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5. CobbleStone
Thousands of users worldwide have chosen CobbleStone’s extremely user-friendly end-to-end contract lifecycle management system. CobbleStone Contract Insight’s quick setup time and ease of use have earned it multiple industry accolades.
besides, CobbleStone’s sophisticated artificial intelligence and machine learning capabilities enable it to automate and optimize the request, approval, and contract drafting processes. Contract data extraction is also included in CobbleStone AI.
With the help of an intuitive dashboard and proactive warnings, customers of CobbleStone Contract Insight contract management software can monitor the entire signature process thanks to integrated electronic signatures.
6. Concord
With pre-approved contract generating templates included, Concord is one of the most dependable contract management solutions available.
On the same contract management platform, each team can collaborate on contracts. Regardless of your field—sales, purchasing, legal, HR, finance, or marketing—you may work with everyone and negotiate conditions with various groups.
Redlines, revisions, and organized comments throughout the contract lifetime will all be immediately on the document when contract negotiation is done online.
7. Juro
With the same capabilities as many other comparable software applications, Juro is the finest free choice for teams and enterprises to handle contracts.
One template and template editor, internal commenting for contract editing, external negotiation, and eSignatures are some of the main features of this free plan. These features facilitate the creation of contracts and the approval process.
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8. Evisort
With features for writing, negotiating, automation, management, analytics, and reporting, Evisort is a contract management software driven by AI.Based on information from their previous agreements, the artificial intelligence in this software assists users in migrating their current contracts and automating the creation and administration of contracts.
Further, users can create automated best practices for new contracts, such fallback language or standard terminology, and populate a clause library with snippets from their previous contracts. Contracts that already exist can also be made into templates for later usage.
In addition, the program automates contract procedures, management, and reporting in addition to automated contract authoring.
9. Oneflow
Digital contract management’s pre-, signing, and post-signing phases are managed by Oneflow, a contract lifecycle software.To provide context and make the signing process more individualized, users can produce a video that walks the signer through the contract.
Besides, open fields in contracts can be filled in by signers at their discretion, and live negotiation notifies users when contracts are opened, changed, or signed. Users of the software can also amend and alter contracts after they have been sent.
For HR, procurement, and sales teams, this platform is a good choice because of its customisation features. Users can differentiate themselves from rivals by creating a virtual signing experience that is more interesting and personal.
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10. DocuSign CLM
DocuSign is a contract lifecycle management (CLM) tool that makes creating, signing, and storing contracts faster with its automation features.With the help of auto-population and the template and clause libraries, users may create contracts rapidly.
Further, the process of revision and negotiation is aided by notifications, comments, and thorough version control. Almost 100 pre-configured workflow phases and a drag-and-drop editor facilitate users in creating unique workflows throughout the contract lifecycle. Every contract is kept in a single repository that has search and filtering capabilities in addition to authorization controls.
Conclusion
You may simplify your procedure from drafting contracts to signing and safely keeping them by implementing an excellent contract management platform. It also has a significant impact on how your staff feel about their daily work every day. Teams can concentrate on the important job rather than being mired in the busy work.
Frequently Asked Questions
What does contract management software do?
Any CLM software should aim to automate the whole contract lifecycle within a single, unified workspace, from creation to payment. The goal is to expedite contract completion so you can go to work and concentrate on what really counts—growing your bottom line.
Why is contract management software important for your business?
Contract management software lets companies maintain all revisions of a document, minimize redundancy, offer vital performance indicators, and facilitate real-time communication. It also helps organizations keep track of important milestone dates.
Consequently, it enhances processes and expedites return times, enabling your company to run more efficiently while handling crucial facets of your paperwork.
How much does contract management software cost?
Although the functionality and quantity of allowed connectors can greatly affect the pricing, most software suppliers provide a monthly or annual subscription plan.
The exact price is determined by the number of users and the plan you choose; annual plans typically qualify for a sizable discount from most providers.
