- Free Version: Available for teams of up to 10
- Pricing: Premium plan $24/month (with a free 30-day trial period)
- Platforms supported: Available on mobile app (iOS and Android) or a web-based software
Why use SafetyCulture?
SafetyCulture developed the best contract management software because of its comprehensive suite of applications that help businesses create, organize, and enforce contracts with their workers and partners. With this system in place, everyone adheres to policies and procedures established, creating a safe, healthy, and productive environment.
Features:
- Use customizable templates from their extensive Public Library to tailor contracts to the company’s requirements.
- Review contracts using checklists that contain relevant data about the organization’s policies and procedures and what is expected of the various stakeholders.
- Go over digital documents and sign agreements electronically wherever you are.
- Store and organize all documents in a single repository securely, and access these anytime, anywhere.
- Send automated reminders to your partners to ensure no deadline or milestone is missed.
Why use ContractWorks?
Created by Onit, ContractWorks increases contract visibility, reduces risks, and reminds managers of renewal dates. Among all contract lifecycle management software in the market today, this is one of the easiest to set up and use.
Features:
- Contract repository with advanced search
- Custom reporting with electronic signature
- Alerts and notifications
- Free Version: None
- Pricing: Standard plan costs $700 per month for an unlimited number of users and five e-signatures (with a free trial)
- Platforms supported: Web
Why use Agiloft?
Highly rated by their clients and credible review sites, Agiloft is one of the best contract management software because they have specific modules for sales, procurement, and legal operations, helping businesses organize their tasks better.
Features:
- Contract repository with clause libraries
- Approval workflows
- Alerts and performance tracking
- Free Version: None
- Pricing: Quote-based plan
- Platforms supported: Web, iOS, Android
Why use DocuSign?
DocuSign enables businesses to fully digitize their documents, replacing traditional methods, such as printing, scanning, and faxing in business transactions. It is one of the simplest and most affordable digital solutions for managing contracts.
Features:
- Customizable templates
- Document storage
- Multi-party signing with mobile signature capture
- Free Version: Yes. The free version provides basic applications to users.
- Pricing: Starts at $10 per month for personal use, billed annually (with a 30-day free trial)
- Platforms supported: Web, iOS, Android
Why use DocuCollab?
DocuCollab is not just an effective contract lifecycle management software, thanks to its cache of applications. It also has a proposal management feature, helping small and mid-sized enterprises win more clients.
Features:
- Document storage with enhanced security
- Real-time collaboration
- Numerous integrations
- Free Version: None
- Pricing: Not indicated on the website, provided after registration (with a free trial)
- Platforms supported: Web
Why use Contract Hound?
Contract Hound offers one of the most straightforward systems for contract management. But on top of the salient software features, their clients favor the fact that they can add users without any additional charge.
Features:
- Document database with quick search function
- Reminders and notifications
- User roles and access control
- Free Version: None
- Pricing: $95 per month for unlimited users (with a free trial)
- Platforms supported: Web
Why use Contractbook?
This highly-rated digital system simplifies the workflow from contract creation with e-signature to renewals and negotiations. Its basic features enable managers to spend less time on paperwork and focus more on their people, partners, and operations.
Features:
- Pre-built templates with e-signatures
- Real-time collaboration
- Analytics
- Free Version: None
- Pricing: Available upon request
- Platforms supported: Web
What is a Contract Management Software?
Contract management software is a digital tool vital to all companies across industries. This allows organizations to draw up, store, and carry out contracts throughout their lifecycle. The importance of contracts in any business cannot be overstated. While many would not disagree with that statement, ensuring adherence to written agreements is a different matter. This IT solution ensures a good working relationship among stakeholders and improves productivity for all.
Importance
Astute entrepreneurs understand that ineffective contracts can cost businesses valuable time, resources, and money. Although you already have a team tasked to create and handle these documents, using contract management software is not gratuitous at all.
- Speed up review and execution – Poring over reams of papers to ensure that you and your associates adhere to agreements is a thing of the past. Document digitization allows managers to create, organize, retrieve, and review contracts on any platform, anywhere in the world.
- Expand contract visibility – Businesses can give access to all relevant stakeholders, ensuring everyone is on the same page and fully committed to their responsibilities.
- Improve compliance – Numerous risks are involved when running a business: Digitized contracts and automated solutions minimize these because of constant monitoring and proper recording of issues and consequent actions.
- Provide better renewals – Contract lifecycle management software keeps track of the dates and content of the agreement, allowing managers to do an early review and decide on renewal or plan for the next step in case of termination.
- Give added protection – Privacy is vital in any business. Storing files in a drive or cloud with stringent access control is a more efficient document management system than keeping papers locked up in a cabinet.
Key Features
As your business grows more complex, leaders should figure out how to streamline the processes for more productivity. Finding an all-in-one solution is imperative, but make sure that it has the following:
- Customizable templates for contract creation and editing
- Document management
- Contract repository with strict access controls
- Content tracking for quick searches
- Analytics
- Real-time collaboration
- Task management
- Alerts and notifications
- Added security features like electronic signatures
Selecting the Right Contract Management Software
Contracts are indispensable, which is why it pays to have the best contract management software in place. Here’s another look at the highest-rated ones of 2024:
| Contract Management Software | Free Version | Paid Plan | Mobile App |
| SafetyCulture | Yes | $24/user/month* | Yes |
| ContractWorks | No | $700/month* | No |
| Agiloft | No | Quote-based | Yes |
| DocuSign | Yes | $10/month* | Yes |
| DocuCollab | No | Available upon request | No |
| Contract Hound | No | $95/month* | No |
| Contractbook | No | Available upon request | No |
* billed annually
Eunice Arcilla Caburao