Contract management software is a essential tool for contemporary businesses as it allows for efficient Contract creation, storage, editing, and tracking. With an increasing number of contracts being generated and signed daily, companies need efficient tools to handle the entire lifecycle of contracts. 

These tools eliminate the requirement for manual paperwork and data entry and help companies cooperate better with member staff in various locations. However, finding suitable software for an organization can be difficult. In this article, we will look closely at ten contract management software products known in 2023, including their features, pricing, and suitability for different types of businesses.

What is Contract Management Software?

Contract management software combines all contracts, parties, and versions involved in contract negotiation and creation. All parties may view modifications and follow the progression of a contract from its creation to its execution. The most excellent contract lifecycle management solution offers a wide range of reports and analytics, continuing management features, workflow automation capabilities, and smart notification capabilities.

Top Ten Contract Management Software in 2023

There are several options for contract management software, from basic programmes with limited applications to sophisticated software that may be completely tailored to fit organizational requirements. The following is a list of the best contract management software in the industry.

1. PandaDoc

PandaDoc is an all-in-one contract management solution offering secure collaboration, management, and tracking. It is a complete contract lifecycle management platform that enables easy contract creation and management for internal teams. Users appreciate the ability to upload various contract documents, user friendliness, and contract repository functionality. 

• Ratings: 4.7 out of 5
• Product link: Click here 
• Pricing: Pricing for PandaDoc ranges from $19 to $49 per month, and enterprise pricing is also available.
• Suitable for: With features like contract automation, contract drafting, and contract approval, PandaDoc is flexible and can support almost any business process that requires document management and electronic signatures. 

2. ContractWorks

ContractWorks offers a transparent pricing model and industry-leading security. The software allows for smooth data migration and provides custom reporting automation. With document tagging and AI-smart document tagging, users can easily locate contracts and track actions. ContractWorks ensures contract visibility, reduces costs, and minimises risk.

• Ratings: 4.83 out of 5
• Product link: Click here 
• Pricing: Pricing for ContractWorks ranges from $700 to $2,000 per month for unlimited enterprise users. The software offers integration with Salesforce for a one-time fee of $500.
• Suitable for: Small businesses will find it easy to run reports, but larger organizations with multiple reviewers may face difficulties with revisions. 

3. Ironclad

It helps automate workflows, generate reports, and process contracts efficiently. Ironclad has a drag-and-drop user interface that is easy for all stakeholders to use. However, some users without a legal background may find it challenging to understand workflow functions. 

Ironclad offers powerful API integrations, including Salesforce, Google Drive, Dropbox, and eSignature providers like PandaDoc. The software guarantees the safe storage, processing, and transfer of data. Ironclad does not provide pricing information on its website, but it offers 24-hour support via a live representative.

• Ratings: 4.5 out of 5
• Product link: Click here 
• Pricing: The pricing for the software and products varies depending on the specific offerings and packages. Visit official site for more details.
• Suitable for: The software solution is best suited for businesses with in-house legal teams.

4. DealHub

DealHub.io is a contract management software that allows organizations to automate the proposal and contract processes without leaving Salesforce. DealHub.io enables easy collaboration among team members with its document-sharing features. 

The software also allows for faster approval workflows. It integrates with CRM systems to transfer existing data onto contracts and capture all views and edits of a contract.

• Ratings: 4.7 out of 5
• Product link: Click here 
• Pricing: The pricing for the software and products varies depending on the specific offerings and packages. Visit official site for more details.
• Suitable for: The software offers an easy-to-use interface that works for staff with different levels of tech training. 

5. Concord

Concord is a contract management software that simplifies compliance and negotiation. The software provides preapproved templates for faster contract creation and ensures version control to keep all users up-to-date. 

The software supports online negotiations and redlining, allowing for commenting and editing within the document. The software provides 24/7 customer support through email and live chat.

• Ratings: 4.3 out of 5
• Product link: Click here 
• Pricing: Pricing for Concord ranges from $99 to $499 per month, and custom enterprise plans are also available. 
• Suitable for: Concord offers an intuitive search capability, structured and full-text search, and the ability to store contracts in one central location, which are suitable for all businesses.

6. ContractZen

ContractZen is a contract management software that offers a secure cloud-based platform for document management, e-signature, and meeting management. The software provides AI-powered contract analysis and reminders for important dates and deadlines. ContractZen allows users to store and share contracts securely and track their status in real-time. 

The e-signature feature enables users to sign contracts electronically. ContractZen also offers a built-in virtual data room for secure document sharing. 

• Ratings: 4.9 out of 5
• Product link: Click here 
• Pricing: Pricing for ContractZen starts at $9.50 per user per month, with additional features available in premium plans. 
• Suitable for: The software is suitable for small to medium-sized businesses and offers 24/7 customer support through email and chat.

7. DocuSign

DocuSign is a widely recognized and popular electronic signature software that also offers contract management capabilities. With DocuSign, businesses can easily create, sign, and manage contracts online. The software allows for secure and legally binding electronic signatures, eliminating the need for physical paperwork. 

It allows real-time progress tracking and serves as a central repository for all contracts. Salesforce, Microsoft Office, Google Workspace, and other programmes all have DocuSign integrations that make it simple to import and export data.

• Ratings: 4.2 out of 5
• Product link: Click here 
• Pricing: Individual plans start at $10 per month, while corporate plans cost up to $25 per month. 
• Suitable for: All sizes of organizations may use DocuSign.

8. Agiloft

Agiloft is a contract management software that offers comprehensive contract lifecycle management features, including contract creation, approval, and tracking. The software provides AI-powered contract analysis and contract compliance tracking to minimize risk. Agiloft also offers custom reporting and analytics capabilities to gain insights into contract performance and productivity. 

For seamless communication, the software is simple to integrate with other company applications and systems. 

• Ratings: 4.87 out of 5
• Product link: Click here 
• Pricing: The starting price for Agiloft depends on the number of users and is $65 per user each month. 
• Suitable for: The software is appropriate for small to large businesses and provides 24/7 customer service by email, phone, and chat.

9. SAP Ariba

Ariba Contract Management offers a centralized repository for contract storage and management. Ariba Contract Management enables users to create, edit, and track contracts efficiently. The software also provides contract compliance tracking and alerts to ensure contracts are managed within compliance guidelines. 

Ariba Contract Management offers customer support through email and phone.

• Ratings: 4.1 out of 5
• Product link: Click here 
• Pricing: TThe pricing for the software and products varies depending on the specific offerings and packages. Visit official site for more details. 
• Suitable for: Ariba Contract Management integrates with other SAP products and business applications for seamless collaboration, suitable for all businesses. 

10. Gatekeeper 

Gatekeeper is a contract management software that provides contract automation, contract tracking, and vendor management features. The software offers a customizable dashboard for easy contract visibility and monitoring.  

Gatekeeper’s AI-powered contract analysis helps identify potential issues and risks in contracts. The software integrates with other business applications like Salesforce, Microsoft Office, and Google Drive for seamless collaboration. 

• Ratings: 4.5 out of 5
• Product link: Click here 
• Pricing: Pricing for Gatekeeper starts at $450 per month for up to 20 users, with additional features available in higher-tier plans.
• Suitable for: The software is suitable for small to medium-sized businesses and offers customer support through email, phone, and chat.

FAQs on Best Contract Management Software

Q. What is the best contract management software?
PandaDoc is the industry leader with dynamic and robust contract management solutions. It is easy to use, has built-in features, and supports integrations.

Q. What does contract management software do?
Contract management software automates the contract lifecycle, from creation to payment. It speeds up deal closing and improves workflows through collaboration and version tracking.

Q. Why is contract management software important?
It helps track milestone dates, eliminates redundancy, provides performance metrics, and supports collaboration. It also streamlines workflows and improves turnaround times.

Q. How much does contract management software cost?
Prices vary based on features and integrations. Most providers offer monthly or annual subscription plans, and costs depend on the number of users and the chosen plan.

Q. Does Salesforce have a contract management system?
Yes, Salesforce has CLM software integrated with its CRM solution. However, it may lack some capabilities compared to other contract management systems.

In conclusion, contract management software is a crucial tool for companies trying to increase cooperation, strengthen their contracting procedures, and lower risks. It is essential to select a software solution that closely matches the demands and specifications of your organization from the numerous contract management software solutions available. These tools include a variety of capabilities that make it simple for businesses to establish, save, track, and manage contracts. Businesses may eliminate mistakes, save time, and receive insightful information about the execution of their contracts by implementing the appropriate contract management software.

Also Read

• Top 10 Robotics Companies in India in 2023
• 10 Best Publisher Ad Management Tools in India
• 10 Best Display Advertising Software

The post Best Contract Management Software For All Businesses in India appeared first on myHQ Digest.