What is Contract Management Software?

For any business, managing contracts can be a daunting task. For example, a simple contract expiry query can handicap a transaction. Thus, businesses to maximize workflow efficiency and overcome this challenge have taken to DMS or Document Management System. On the other hand, progressive or modern businesses prefer Contract Management Software

The Contract Management Software is used to create, negotiate, renew, sign, and collect actionable data on legal contracts. It allows business teams to self serve from templates that are owned legally. This way businesses can agree and manage contracts effectively. Also, the software empowers companies to set up automated workflows to route contracts to the specified person automatically.

Top Contract Management Software @ Affordable Prices

1. PandaDoc

PandaDoc streamlines contract management right from the sales process to the contract execution and renewal. Some amazing features of the software include version control, built-in collaboration, document history, and electronic signature to name a few.

These features make it easier to create, negotiate and sign contracts. It is suitable for businesses ranging from SMB to Enterprise. Besides, the software supports various documents formats like Docs, PDFs and more.

It can be used by different departments like the sales team, marketing, legal and operations, or finance too. PandaDoc offers advanced analytics that gives you a real-time analysis of proposals for your marketing or sales teams. Detailed insights enable your teams to take the right action at the right time.

Pricing:

• Free Sign: free
• Essentials: $19 per month/user
• Business: $49 per month/user
• Enterprise: By quote

2. Proposify

Proposify is another online proposal software that is designed to give users visibility and control in the sales process. With such software in place, users are allowed the flexibility to dominate deals.

Besides, Proposify allows you to create impressive sales documents that are error-free and consistent. You also get accurate insights that in the process. At the same time, the software delivers a seamless sign-off experience for prospects and customers.

Proposify has features that comprise electronic signatures, design editors, CRM integrations, content management, data-driven insights, and approval workflow. The software has a free trial for 14 days after which you can switch to one of their plans.

Pricing:

• Free: 5 active documents, 1 user
• Team Plan: $49 per month (Suitable for growing sales teams)
• Business Plan: $590 per month (Suitable for teams of 10 or more)

3. Concord

Concord is a well-planned contract management software which is why it is quite a popular choice among businesses. It has some excellent lifecycle management tools with many advanced features designed to make the process simpler.

Furthermore, the software has an interactive interface as well. This is the only software that you will need for your contracts. Over 50,000 organizations trust Concord for their contract management.

Besides, the software boasts of some stunning features that include drafting, negotiating, managing, signing every contract in your organization right in one place. Integration to third party applications is easier than ever.

Pricing:

• Standard: $17 per user per month
• Pro: $34 per user per month
• Enterprise: By quote

4. Agiloft

Are you looking for the most advanced contract management software? Then Agiloft is something that you have to check out. It is a cloud-based contract management software that is ideal for businesses of all sizes

The software offers a wide variety of features like budget and forecast reports, workflow automation, optical character recognition (OCR), a search engine and many more. The powerful software allows users to manage the contract lifecycle and integrate the information into existing processes.

There are options to view the contract status in the user-submitted support tickets. Workflows, templates and fields can be configured as required. Besides, you can help users manage expirations and renewal processes by automating contract creation, approval, along with other processes.

Pricing:

• There are flexible pricing packages that better suit your organizational needs. Get a quote by contacting the Agiloft team.

5. Zoho Contracts

Experience one simple solution for all of your contract challenges. Zoho Contracts offers a wide range of features and functions that allows you to streamline the contracting processes. Efficiently streamline your Contract Lifecycle Management (CLM) processes with this platform to save costs at a considerable amount.

Contract authoring has never been easier than this. Get predefined templates for frequently used contracts. You also can create custom templates as well. It features a built-in document editor that has advanced features with the powerful word processor, Zoho Writer. Bedies also has collaboration features like comments and tracks changes.

Pricing:

• Standard: $40.43 per user per month
• Professional: $52.56 per user per month

Conclusion

Irrespective of the size of your business, contracts are one element that you cannot ignore. Daily contracts are the backbone of every relationship any business has with suppliers, customers and partners. Effective contract management is crucial for business performance as it drives long term value to your organization. Plus, it strengthens powerful stakeholder relationships.

Witness:

• Improved functional efficiency
• Help in business functioning
• Decrease in maverick spending

Research has revealed that 70-75% of projects failing occur due to contracting issues. This results in a 9.2% of average annual revenue leakage.

So, wait no more and invest in the right contract management software for your business. Experience a seamless contracting process with the best software! Improve productivity and focus on the matters that need your attention and time. Let us know how you liked the article and which one of these are you going to try out for your business.