- Drafting new contracts and keeping documents secure can be a big time sink, and an even bigger security risk.
- Thankfully, the internet is rich with affordable contract management software solutions for businesses of all sizes.
Some businesses are just too big for the pen and paper contract method. Others prefer the security and convenience of moving their contract process online. It’s easy to see why a lot of companies are turning to contract management software solutions.
These practical digital tools make creating, tracking, and monitoring contracts easier than ever before. Contract management software eliminates common inefficiencies and speeds up the process. It can store all active and past contracts, and even help prevent data entry errors too.
Every product is different, which makes finding the best contract management software for your business tricky. What follows is a list of the best and most popular software solutions, but there are more out there. If what we discuss here doesn’t work for you, keep searching until you find one that does.
A billion users can’t be wrong.1 DocuSign, also known as DocuSign CLM, is a full service contract management software that goes far beyond e-signatures. It’s the ideal small business solution that’s both easy to use, and rich with practical tools. It seamlessly integrates with Dropbox and Google Drive, and can help you build reusable templates, keep a real-time audit trail, collect payments and a lot more.
Those features aren’t available to all users though. DocuSign offers three tiers including Personal, Standard, and Business Pro. Plans range from $10 to $40, with enhanced plans available on request. And for those just looking to sign documents on the web, DocuSign has a free edition too.2
PandaDoc is all about simplicity. Their drag-and-drop contract editing interface is easy for even the most tech-averse, and their one-click payment collecting saves time and has been shown to increase close rates by 35%.3 Even better, all plans include unlimited eSignatures, unlimited document uploads, and payments, even the free one!
A PandaDoc essentials plan comes with all of the free features mentioned above but also ads templates, the rich media drag and drop document editor, and document analytics for $19 a month. The software solution also offers a Business tier which adds custom branding, approval workflows, and CRM integrations for $49 a month.
Those looking for customization would have a hard time finding something better than Agiloft. The code-free platform lets users customize everything from reports to workflows. It’s cloud-based, which means it can be accessed from any computer. Agiloft seamlessly integrates with Google and Microsoft software suites too, easing the learning curve even further.4 Having begun in 1991, they’re the oldest serving contract management software company in the game, which only bolsters the confidence of their customer base.
New and existing members can pick one of three plans. There’s the entry level Essentials plan, the popular Advanced plan, and the all-inclusive Premium plan. The cost of each isn’t available on Agiloft’s website, but getting a quote is as simple as filling out an online submission form.5
ContractWorks is a great option for those looking to store, track, and sign contracts at scale. The company boasts strong document storage and security features, an audit trail, and milestone alerts. Though it doesn’t feature as many customization options as some of the other options on our list, ContractWorks is very user friendly and takes just minutes to set up.6
ContractWorks members can opt for a Standard, Professional, or Premium membership. Prices start at $700 a month and top out at $2000 per month. You can sign up for a free trial on ContractWorks website or connect with a representative directly to book a demo.7
Secure payment processing, self-service templates, and real-time notifications round out an impressive menu of practical software features. Outlaw is one of the newest contract management software solutions in the industry, but you wouldn’t know it by the way it’s designed. It’s the ideal solution for anyone looking to save time drafting, finalizing, and storing contracts at scale.8
Getting a feature list and price point requires reaching out to an official Outlaw representative, but all users can expect to enjoy template creation, team management, and reporting and metric services in addition to unlimited contracts and unlimited storage.9
Contract management software is a real efficiency booster. Finding time really is as simple as switching from a manual contract method in favor of any one of the software solutions mentioned above. They simplify the creation of new contracts, streamline the negotiation process, and more right out of the box. But contract management software isn’t exactly one size fits all.
Choosing the right solution for your business requires learning, reading, and plenty of time spent searching online. Only you know what’s best for your business, so if none of the products featured here feel right, keep searching until you find the best contract management software solution that’s for you.