Best Contract Management Software33Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.PandaDoc1 Sell (formerly Quosal)2 Configure Price Quote3 Contract Management6 Purchase to Pay7 E-Business Suite Procurement Contracts8 Document Management software11 CLM, formerly SpringCM12 Contract Lifecycle Management15 Contracts (formerly Novatus)16 Contract Discovery and Analytics17 CLM19 Matrix20 Logix21 Contract Management by FPX22 Enterprise (formerly Selectica) Contract Lifecycle Management23 Assistant24

Contract Management Software

Best Contract Management Software

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Contract Management Software Overview

Contract Management Software

Contract management software systems are designed to help companies create new contracts and keep track of existing (open) contracts. They typically replace file cabinets and paper contracts. Some systems support paper contracts by allowing users to print physical contracts and/or scan in signed contracts.

Basic contract management systems focus on creating contracts from templates and/or storing signed contracts. More complex contract lifecycle management software is designed to help enterprises automate every stage of the contract process. This includes all contract management stages from the approval workflow to checking contracts against compliance regulations and monitoring important contract milestones.

Contract Management Software Features & Capabilities

Contract Authoring Features

  • Contract Creation: This includes a document generator and tools for creating new contracts.

  • Contract templates: Allows users to set up templates or templatize old contracts in order to make new contract creation easier and more consistent.

  • Clause library/saved fields: Users can save certain fields of a contract for re-use; these may be stored in a template or a clause library.

  • Integration to CPQ: Integrates to CPQ software so that calculated quotes/configuration details can feed into contracts. This is an important element of automation in the contract authoring process.

  • PDF generator: Users can generate PDFs of contract documents.

  • Contract attachments: Users can attach other documents, like invoices, images, meeting minutes, memos, etc, to contracts.

  • Guided logic: Automated questions (based on company policies and the circumstances of the deal) help with the contract authoring process. This is an example of partial automation.

Contract Collaboration Features

  • Contract sharing: Users can easily and securely share contracts with internal users and external users. Contracts are accessible.

  • Contract editing: Contracts can go through multiple drafts and revisions. The software supports multiple versions and version comparison.

  • Contract merge: Multiple versions of a contract can be merged.

  • Contract collaboration: Internal and external users can collaborate on contracts without changing the text of the contract; this may be done through comments, questions, and/or message board conversations.

  • MS Word plug-in: Users can make changes to contract language using Microsoft Word.

  • Approval process: Approval workflows can be configured to streamline and automate the approval process.

  • Parallel approvals: Users can set up complex workflows to handle parallel approvals.

  • Interdepartmental workflows: Users can set up interdepartmental workflows so that contracts can flow between teams in a logical and organized manner.

Contract Monitoring Features

  • Contract database: Contracts are stored and organized in a central repository.

  • Legacy contracts: The system has a record of legacy contracts that were created prior to implementation.

  • VORs: Allows users to send/receive variation order requests.

  • Contract search: Users can easily look up contracts within the database

  • Reminders & alerts: Users can schedule reminders and/or trigger alerts according to contract milestones.

  • Dashboards: Dashboards provide an overview of contract activities.

  • Custom contract reports: Users can create custom reports about the status of contracts, contract timelines, efficiency, and revenue tied to contracts.

  • Tracking contract status: Users can track the status of a contract as it moves through the approval process and beyond.

  • Salesforce integration: Integrations to Salesforce so that contracts are tied to contact’s CRM records.

  • Compliance check: Users can define and enforce complex business rules related to compliance regulations; helps automate or partially automate contract compliance check.

What is Contract Lifecycle Management (CLM)?

Contract Lifecycle Management (CLM) is the practice of organizing, monitoring, and automating contractual processes within an enterprise.

CLM holds that contracts should be accessible and constantly top of mind in order to enforce contractual obligations and events etc. and collect all due revenue, follow through on commitments, and close pending deals. This is in contrast to a signed-and-done, file-away approach to managing contracts, which can result in legal oversights and penalties or lost revenue.

Since using human resources for constant contract vigilance is resource intensive, and humans are more prone to error, CLM is accomplished using contract management software. While simple contract software may only allow users to author contracts via templates, or store contracts in a database, systems designed for CLM/enterprise contract management have more complex features related to the following:

  • Workflows

  • Automation

  • Collaboration & editing

  • Scheduling & reminders

  • Payment processing

  • Compliance

  • Project change management (such as VORs).

Rather than just a contract database or contract authoring tool, CLM software functions as a digital contract manager of sorts.

Pricing Information

A wide range of products is available from very basic to sophisticated enterprise systems. Some very simple contract management systems are free, while other enterprise-level systems offering contract lifecycle management capabilities can cost more than $8,000 per user per year.

Contract Management Products

Listings (1-25 of 51)


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Top Rated
92 Ratings

PandaDoc headquartered in San Francisco offers their eponymous electronic signature platform for sales teams, containing sales proposal automation and CPQ (configure, price, quote) features, and integration with CRMs.

4 Ratings

Concord is a contract lifecycle management platform built for the entire organization. Radically simple in design, the vendor promises that Concord's end-to-end solution makes it easier to create, collaborate, negotiate, e-sign, and manage agreements all on one ecosystem. Designed to meet the str...

3 Ratings

Ready-to-use cloud service with contract and meeting management, eSignatures and data rooms (VDR)ContractZen is a digital hub for corporate governance. Replacing the time-consuming and expensive implementation projects and consulting, ContractZen is a cloud service for organizations of all sizes ...

2 Ratings

Built for global enterprises, Icertis is a leader in contract lifecycle management, according to Forrester & Gartner. The vendor says their solution is counted on by large enterprises across industries, with more than 750,000 users, managing 2+ million contracts in 90 countries and 40 languag...

1 Ratings

ContractRoom is a negotiation process and contract management platform. According to the vendor, it removes the endless back-and-forth and annoying redlines - instead providing perfect drafts, frictionless negotiation and super simple compliance. ContractRoom also leverages all the past data from...

We don't have enough ratings and reviews to provide an overall score.

Seal Contract Discovery and Analytics is a contract management solution. The solution is designed to locate contractual documents, extract and present key contractual information related to contractual language, clauses, clause combinations and the key contextual metadata held within them. The ...

We don't have enough ratings and reviews to provide an overall score.

Symfact is a contract management software solution. It can be customized for a robust list of verticals: finance / administration, operations / IT, legal / risk compliance, sales / marketing, board, and procurement.

We don't have enough ratings and reviews to provide an overall score.

CallidusCloud CLM is a cloud-based contract lifecycle management solution. Since it is not a CRM native application, approved users can upload and set up contract templates without having to wait on a CRM administrator or the IT department. The vendor’s value proposition says that by combining d...

We don't have enough ratings and reviews to provide an overall score.

CLM Matrix is contract lifecycle management software built on the Microsoft Office platform. It allows users to standardize, streamline and automate contract lifecycle management processes within Microsoft SharePoint.

We don't have enough ratings and reviews to provide an overall score.

openSourceCM is a contract management software product, with features designed specifically for industries with complex use cases. Many industries require management and oversight of large projects or deals involving many parties and contracts, with complex legal and financial requirements, such ...