Contract management software is a great tool for small businesses. It helps you stay compliant with your contracts, manage all of your documents in one place and make sure they are always up-to-date. It also saves you time by allowing employees to complete tasks at their own pace instead of having someone else do it for them.
In this guide, we review the aspects of Easy Contract Management Software, legal contract management software, top contract management software, and best free contract management software.
Easy Contract Management Software
Contract management is a crucial part of running a business. You need to keep track of every contract you enter into and be sure your business is following all the necessary regulations. If you’re not careful though, it’s easy to lose track of all your contracts which can lead to problems with customer service, collections, legal issues and more. That’s where contract management software comes in!
1. What is contract management software?
Contract management software is software that helps you manage your contracts. It can help ensure compliance with your contracts, manage contract terms and conditions, manage renewals and amendments.
The benefits of using a contract management tool include:
- Improved efficiency in managing the creation, negotiation and execution of agreements
- Compliance with legal requirements by automating key processes so there’s no need to worry about manual errors or missing out on important dates
- Increased control over costs through improved visibility into pricing structures
2. How does contract management software work?
Contract management software is a digital tool that helps streamline your contracts, and make them easier to manage. It automates many of the manual tasks and processes that are typically involved in managing contracts, including:
- Scanning documents (like proposals, invoices and purchase orders) into electronic form;
- Creating contracts from pre-written templates or from scratch;
- Communicating with clients through built-in messaging tools;
- Tracking payments due on each contract;
- Sending out reminders about upcoming deadlines.
3. What are the benefits of contract management software?
Contract management software can help you reduce the time spent on contract management and make sure that you don’t miss any crucial information. As a result, you’ll be able to focus on what’s important for your business: growing it.
You’ll also be able to reduce the risks of missing deadlines or payments, which is important because these are two things that will affect your company’s reputation in a negative way.
Contract management software will allow you to easily track all the activities related to contracts like billing, invoicing and payments.
4. What should you look for in contract management software?
When searching for software to help manage your contracts, you want to find something that offers:
- Ability to manage multiple contracts.
- Ability to manage multiple vendors.
- Ability to manage multiple locations.
- The ability to track projects and tasks in the system, so you can see the status of each contract at any time. This feature is especially important if you have a large team working on many different projects at once! It’s also useful if some employees are responsible only for managing specific types of contracts (such as debt collection). In this case, they should be able to access only those types through the software’s interface while other employees may need access across all contracts in order do their job properly (for example: HR managers who need information about salary raises).
5. What is the best contract management software for small businesses?
Choosing a contract management software is not an easy task. There are a lot of things you need to think about when choosing the right one for your business. Here are some things you should look at before making a decision:
- How easy is it to use? You want something that’s simple and intuitive, so your team can easily understand how it works and get up and running quickly.
- Does it have good customer support? People will inevitably run into issues with their software at some point, so make sure you choose a company that’s willing to help them out in any way possible—even if it means spending hours on the phone or sending someone out for an in-person consultation.
- Is there a good pricing plan? In order to keep costs down, many businesses opt for monthly plans instead of annual ones; however, this isn’t always ideal because costs often rise over time (especially if you’re using more features). Make sure whatever option you choose has reasonable price structures so your company doesn’t end up paying more than necessary later on down the road!
Contract Management Software can help you manage your contracts and make sure your business is compliant.
Contract management software can help you manage all your contracts, keep them compliant and make sure you’re getting the best deals.
Here are some of the ways it can benefit your business:
- Easily track and manage every contract for your company.
- Make sure you’re compliant with all of your contracts and processes.
- Save time by having everything in one place so you don’t have to worry about missing anything or forgetting what needs to be done next.
Contracts should be a part of any business owner’s regular workflow, but managing them manually is time-consuming and expensive; using contract management software makes it easy for even small businesses to stay on top of things without breaking the bank!
legal contract management software
Contract management is one of the most important services delivered by in-house counsel. Both the C suite and the line view effective contract management as critical to strategic growth and risk management.
The great majority of organizations look to their legal departments to define and oversee the function, and to work with other parts of the organization to integrate policies, workflows, and technology into regular business operations.
According to the Gartner Group, 60% of all supplier contracts are automatically renewed without the knowledge of the buyer, due largely to the buyer failing to give notice of termination.
Contract management lends itself to automation, and there are number of software solutions on the market. We are not going to delve into the details of contract management as a process or best practices. Rather, we will focus on the key system features that may be used to enable them.
While it is somewhat easy, to sum up, high-level requirements in a few paragraphs, legal departments must take a practical approach to weighing pros and cons when evaluating contract management software.
Finding the right system for your organization requires an assessment of your needs and comparison to the range of features offered in different products.
We hope that by the time you finish this guide you will be better equipped to identify the right contract management solution based on your organization’s requirements.
What do legal departments want in contract software?
A good contract management solution will play a key role when it comes to drafting, reviewing and finalizing legal agreements. The best systems will enable and speed-up contracting workflow across the organization.They will also empower a company to systematically manage its portfolio of agreements and to monitor and react timely to specific terms and conditions.
To effectively manage the contracting function, a legal department needs a system that is simple to use, integrates with other applications and helps it to stay on top of the contract workload.
We must emphasize ‘Simplicity’ because the ultimate goals in contract management are to speed up turnaround times and become more productive without requiring attorneys to turn themselves into software wizards.
Key features of a contract management software
Document Creation – The system should allow attorneys and/or business staff to create contracts from templates, ideally by selecting from menu options at the click of a button and by filling in form fields.
User instructions should be incorporated into the templates and required information or clauses should be identified and controlled. The system should also allow users to attach all related documents and correspondence within the contract file/folder.
The systems should be able to handle multiple document formats including word processing files, spreadsheets, images and emails. After creation, the system should retain the new contract and subsequent revisions.
The system’s database should be able to pick up key metadata such as party names, addresses, contact details, and important dates from the user-created templates. This information will be critical to future contract administration, reporting and risk mitigation.
Workflow – Tasks like contract review and approval should be streamlined by automating communication flow and checklist tasks and by the systematic definition of roles and responsibilities.
Attorneys and business people should have the ability to quickly review agreements and issue approvals or request additional detail. The abilities to compare new contracts to templates and revisions by version is critical.
Contract Administration and Risk Management – The software should remind assigned personnel once a contract is due for renewal or when other critical dates are coming up. It should also flag risk indicators like high dollar transactions, or agreements with parties on the ‘watch list’.
The system and its content should be auditable and support QA requirements. Standard management reports and action items should be automatically generated and forwarded to appropriate personnel.
System users and administrators should be able to review and report on contracts individually and in batch. In-house counsel should be able to generate all but the most complex reports related to contracts with a few clicks.
Should you use stand-alone tools to manage contracts?
Users and IT struggle when a group of disjointed systems must be modified and maintained in order to work together. Legal department users do not want to have separate systems for contract management, matter management, messaging, desktop productivity and document management. Costs increase quickly, productivity is reduced and maintenance becomes cumbersome.
The digital era has evolved to the point where integrated enterprise systems are now available for a wide assortment of applications. The in-house legal function has been a beneficiary of this kind of system development and integration.
Native integration of legal and business applications enhances software usability and productivity. It also limits the risk of miscommunication, inconsistency and error.
When it comes to the legal and business applications used in contract management, your entire system should run like a well-oiled machine without the need to open and close multiple windows and applications. Do we need to say more?
A) Compatibility with matter management
Matter management systems are used by in-house legal teams to track departmental activity. We will discuss matter management in more detail in another guide.
Since contract management is such a critical and proportionately large part of the in-house legal function, an ideal solution should provide the ability to create and manage matters and contracts under one umbrella.
Integrating these applications means contract detail can be incorporated into matter management reports and vice versa.
B) Incorporating document management
The icing on the cake would be a document management system (“DMS”) integrated with matter and contract management! Document management systems are a type of enterprise content management (“ECM”) tool used to streamline and control document creation, editing and retention.
Contract management systems are a specialized type of DMS. Integrating a contract management system with a DMS, allows the former to take advantage of the extensive feature sets that have been developed for the latter.
We will address document management technology in more detail later in this article.
C) Compatibility with Microsoft Office 365 and email
Wouldn’t it be nice for your attorneys to work on legal management, productivity and messaging applications all from one unified desktop? This is where Microsoft enters the equation. US businesses use Microsoft’s Office more than any other application.The cloud-based Office365 and the on-premises Office 2019 are highly integrated application suites that include some of the most feature-laden desktop productivity and messaging tools available. The better contract management systems are tightly integrated with Microsoft Word, Excel, PowerPoint and Outlook/Exchange.
The same can be said for the better matter and document management systems.
D) What about electronic signature?
Electronic signature, also known as e-signature has become an industry standard to execute and authenticate digital agreements. Adobe Sign has emerged as the market leader for electronic signature technologies. Another contender is DocuSign.
The company’s software allows parties to sign agreements online. Adobe Sign and DocuSign electronic signatures are legally acceptable in all jurisdictions within United States.
Legal departments are leveraging this technology to speed up the contract execution process.
Adobe Sign provides an automated workflow system between parties to obtain e-signatures for contracts. It is highly-advisable and efficient for an organization to integrate its contract management system with an e-signature system such as Adobe Sign.
Please click on the button to evaluate your needs for a Contract Management Software
Why vendor platform is critical?
Choosing a technology platform is a critical factor in contract management system selection. In this context, ‘platform’ refers to the hardware, software and database infrastructure used to build and run the application.
The gating decision here is whether to work with a vendor that offers software solutions built on open-source or industry-standard platforms (such as Microsoft, Oracle or Google technologies), or a vendor that offers proprietary or closed solutions.
Buyers of contract management systems tend to prefer the former. Working with widely-used technologies reduces the risk of being orphaned with an unsupported platform.
The selected system can also be highly compatible with other applications (e.g. for word processing, document management, messaging, electronic signature, workflow management).
Proprietary vendors often offer task-specific integration options with tools like Microsoft’s. Legal department buyers should assess whether these integrations are clunky, tend to fall apart with new upgrades or present the risk that the buyer may be stranded with an unsupported platform.
Will customization be needed?
Another important element to consider in a contract management system is the potential for customization. A good system should be highly customizable. Some systems accommodate a basic level of customization by allowing the buyer to create a few user-defined fields.
The better systems are so flexible that you can even instill your own business logic via programming to accommodate highly specialized buyer needs.
How the contract life cycle is handled?
Each organization has its own set of processes and protocols to follow also known as the ‘contract life cycle‘. For example, some users want the software to generate alerts for contract expiration and/or renewals while others want the CLM software to behave in a different fashion.
Most systems come with predefined processes built into their logic.
A buyer must assess whether these out-of-the-box processes will work for its organization and whether the program logic is rigid or flexible. The bottom line is that the system should be highly adaptable, even before any customization of code is required.
Importance of global search
Few things frustrate a user more than not being able to find information quickly. Beyond that, quickly retrieving contract information can be a big value-add during critical stages of contract negotiation or in a dispute.
You would be surprised to learn how often, the top-selling contract management vendors fail to provide even the most basic search functionality. Your contract management system should be efficient enough to quickly locate records by using different types of criteria or search terms.
This type of functionality is called Global Search. The better global search features are sophisticated enough, that typing the first few letters of a term or file number will narrow down the filtered results within milliseconds.
Results can be achieved by using metadata fields (e.g. file name, the attorney assigned, date, company), or by searching against the full content of the contract management system.
Document management systems in contracting
As mentioned above, a DMS can enhance the functionality of a contract management system. So what exactly would the document management do for us?
A document is the nucleus of contract management. Legal Department staff can waste a good amount of valuable time while searching for, formatting, saving and managing documents.
You should keep this in mind when prioritizing your system requirements. Contract management software should allow you to quickly and easily generate contracts by re-using content and leveraging features such as the Word mail merge capability and form development options.
This level of functionality and integration is built into most DMS applications. Users can create templates that auto-populate data elements (e.g. party names, dates, addresses) throughout a document and generate output in industry-standard Word or PDF format.
A) Sharing documents without emailing
Corporate attorneys frequently receive contract review requests by email (with an attachment) or through in-person requests from another legal department employee.
When a DMS is integrated into the contract management system, you no longer need to send and receive rounds of emails with attachments. The documents will be stored in the DMS’s central repository where they can be shared by the system users.
The DMS can also be configured to share documents with outside parties. For example, you may want to upload a contract during the review process with a vendor or an employee recruit.
Both in-house counsel and the outside party will be able to review and make changes as per pre-defined roles assigned by the system administrator. Contracts can be finalized online, completely eliminating the need for emails and attachments.
B) Benefits of integrated Document Management
Document version control is a key feature of a DMS. Document Versioning is particularly helpful when more than one person is working on the same document.
Controls allow you to easily review, switch or compare document edits, saving time and avoiding the confusion that occurs when emailing back and forth.
top contract management software
What is contract management software?
Contract management software is a tool designed to automate and streamline the contract management process for businesses.
Contract management tools make it easier for legal and business teams to create, negotiate, sign, renew and report on business contracts by automating the manual work traditionally involved in a contract workflow.
Rather than switching between multiple different tools to manage contracts, contract management software enables teams to manage contracts from end to end – all in one platform. This is because all of the features they need are centralized in one workspace.
Who uses contract management software?
Contract management software is used by businesses that need to scale their contract workflow without increasing headcount.
This means that fast-growing businesses with increasing contract volumes gain the most value from implementing contract management software.
Contract management software can also be used by multiple different teams within a business, including legal, sales, finance, operations, and HR teams.
Legal teams
Legal typically ‘own’ the contract process at a company. In-house legal teams use contract management software to manage their contract templates and set up rules that enable commercial teams to self-serve on contract creation.
Check out this case study with Funnel to find out how Funnel’s legal team use Juro’s contract management software to reduce manual contract admin.
Sales teams
Sales hate anything that gets in the way of closing deals, so they’ll often use a contract management solution to self-serve on contracts rather than waiting for legal to create them.
Most contract management software also integrates with major CRM systems. This makes it simple for sales teams to manage contracts in Salesforce, along with other tools they know and love.
Check out our case study with Paddle to find out how Juro’s contract management software enables Paddle’s sales team to generate and approve contracts in just four clicks.
HR teams
HR teams in fast-growing companies typically produce and manage large volumes of contracts. Contract management software enables HR teams to automate HR contracts at scale, making it quicker and easier to hire and onboard new joiners.
Check out our case study with GoPuff to find out how Juro’s contract management software enables GoPuff to automate 80 per cent of onboarding admin.
Finance and ops teams
Finance and ops teams need visibility into contracts. They need to reconcile contracts and billing, as well as generate accurate revenue expectations for their business. Contract management software like Juro enables teams to query, report on, and analyze contracts right through the lifecycle.
Check out our case study with Cleo to find out how their operations team used Juro’s contract management software to gain visibility into contracts and their data.
Contract management software features to look for
1. Template editor
A rich-text contract editor is one of the most important features of contract management software. It enables legal teams to pre-define contract templates that business users can use to self-serve on contracts.
Businesses without contract management software will usually rely on Microsoft Word to draft contracts. But there’s no way for legal to control which terms make it into the contracts that commercial teams send out for signing. Instead, contracts quickly become a patchwork of different, often outdated, templates.
Juro users don’t have this problem. Juro’s contract management software enables legal to control which terms appear in contracts using conditional logic. This enables commercial teams to self-serve confidently on contracts with minimal oversight from legal.
To see Juro’s rich-text contract editor in action, book an interactive demo with our team.
2. Approval workflows
Approval workflows are another useful feature in contract management tools. They enable teams to get contracts reviewed and approved faster without bypassing senior stakeholders.
Without the right tools in place, approvals can become a bottleneck for businesses. Approval requests sit in a backlog of other tasks. Before you know it, these delays in the sales cycle have resulted in lost revenue. Contracts may even sneak past the approval stage altogether.
Contract management software removes that risk. Juro’s customizable approval workflows mean that you can be selective about which contracts require approval. You can also send approval reminders to move things along.
To find out more about Juro’s approval workflows, book an interactive demo with a Juro specialist.
3. Browser-based redlining
Browser-based redlining is one of the most sought-after contract management software features since it enables teams to negotiate contracts in real time.
Without this feature, teams are forced to jump between multiple different tools to negotiate contracts. This process of switching between Word files, emails, and PDFs can slow sales cycles down and make it difficult to track edits.
Contract management software like Juro centralizes contract negotiations, with browser-based redlining, detailed audit trails, and split internal and external versions.
If you’re interested in finding out more about browser-based redlining, book a demo with one of our specialists.
4. Native eSignature
You should also look for contract management software with native eSignature functionality. This enables teams to add legally binding electronic signatures to contracts from anywhere, on any device. Some contract management systems, like Juro, even allow users to mass-sign routine contracts.
In a manual workflow, contracts are signed using wet ink signatures or scanned signatures. Some businesses use a separate eSigning tool like DocuSign or Adobe Sign to sign contracts electronically. But this still means moving between multiple tools just to get contracts over the line.
Choosing contract management software that offers native eSignature removes this friction and makes it possible create and sign contracts in one workspace.
To find out more about Juro’s secure and legally binding eSigning solution, book a demo with our specialists.
5. Renewal reminders
It is also worth choosing contract management software with automated renewal reminders. This feature allows you to track your contracts and manage upcoming deadlines with ease.
Businesses that don’t have a contract management tool usually track their contract data manually in a contract management spreadsheet. This involves extracting and inputting data from individual contracts, which can be a waste of legal’s already stretched time.
All of these deadlines are captured automatically in Juro, so you don’t have to worry about the admin work. You can also set up automated contract reminders so you never miss a renewal deadline again.
6. Smart storage
Where you store your contracts matters, particularly as your contract volumes grow. That’s why it’s important to find a contract management platform with a smart storage solution.
In many businesses, contracts are scattered across shared drives. This means they’re difficult to find, hard to monitor, and virtually impossible to report on.
Contract management software like Juro enables you to get more from your contracts post-signature. Not only does Juro let you store your contracts securely, but it also has an analytics feature that enables you to report on contracts and track progress against legal KPIs.
To find out more about how Juro lets users track and query contracts in seconds, book a personalized demo.
best free contract management software
ontracts, and the way that they are written and managed, can determine the success or failure of a business.
Contracts affect every stage of business, from acquisition to advertising through to revenue. Bad contract management can cost a business 9% of their yearly revenue, which can ultimately mean you’re working an extra half a day a week just to make up for this lost money.
While revenue might be the most visible area of your business to be affected, it is estimated that 60%-80% of all business transactions are governed by contracts in some way. If you leave your contracts up to subpar contract management software, you could be infecting your entire business with bad data and badly managed contracts and not know about it until it’s too late.
Here’s the thing, though: it’s an avoidable solution.
With many great (and sometimes free!) contract management software options out there, it’s an avoidable travesty.
So, what is contract management?
If you think of your small or medium sized business as a house, contract management is like plumbing. Every small, medium, or large business needs it, and just like plumbing, a tiny problem can become a much bigger one if left unattended. This is why it’s best to have a solid contract management software option at the ready to get you through the jungle of legalese.
Contract management software can help minimize business risk, and provide a tailored experience to the customers in the most cost-effective way.
👉 Read more about how a fintech company accelerated the process of getting a document from a precedent to a client, minimized contract drafting risks, and saved their team’s time on legal hassle.
Drafting a contract used to take hours, and usually meant keeping a lawyer on call. Not anymore. Contract management software takes the processes of drafting, negotiation, and filing contacts easier than ever before.
Even the act of signing a contract can be a breeze, as nearly every single contract management software allows for remote signing with e-signatures. Some platforms even have built-in reminders if the contract is time sensitive. Today’s contract management software options mean you can move faster and safer than ever before.
Best free contract management software should include:
So, there are many free contract management software options available, but which is best for you? Let’s take a look at the top 11 choices out there:
Avokaado
Avokaado covers the entire contract lifecycle process — from smart drafting through to final approval and e-signature. It lets you create contracts easily and collaborate on one central platform.
Avokaado’s packages are made in a way to support businesses at their different stages of growth and challenges of contracting processes: either it’s a bottleneck with signing or never-ending mistakes in the contract drafts.
Free trial option: There’s a free 7-day trial of each tier, and the freemium option allows for 100+ free pre-lawyered templates, unlimited downloading of PDFs, and secure electronic archiving.
Pros: With Avokaado, users can make contracts 83% faster and draft up to 5 contracts simultaneously. It also cuts down on increasingly expensive printing and filing costs, as well as the cost of hiring someone full-time to do what a CMS can do for a fraction of the cost.
Cons: No redlining yet, but there’s a possibility to open an in-document discussion and negotiate terms in the comments — just as you’d do suggestions in Google Docs.
PandaDoc
PandaDoc is a cloud-based document management system and one of the biggest names in contract management software, and with good reason. Founded in 2011, they’ve been a popular choice for business owners thanks to their easy-to-use interface, well-read blog, and responsive support team. It also helps that they have both an iPhone and an iPad app, as well as a browser-based version of their platform. Frequently used by marketing teams and HR departments, PandaDoc is a popular choice for all kinds of users.
Free trial option: 14-day free trial of each plan, with a ‘Free eSign’ option if you’re just after legally binding electronic signatures. Plans range from $9 to $49 per user.
Pros: It’s easy to use, and relatively cheap if you use one of the handful of freemium templates. The $9 ‘individual’ plan is a good entry point to contract management systems, and the built-in data visualization is very informative.
Cons: Some reviewers believe that PandaDoc skews towards larger companies, so small to medium sized businesses might be a little lost unless they know exactly what they’re doing. The individual plan does not offer templates, and if you start on the ‘individual’ plan and later decide you need more options (like, say, you need to customize your contracts), get ready to pony up $49 a month. Additionally, PandaDoc does not allow multiple users of the same software, meaning only one person can have an account.
ContractWorks
Contractworks is a solution that streamlines contract management across all industries. Unlike some of the other options on this list which cater towards smaller teams, ContractWorks is a great option for bigger businesses and/or those looking to send out high volumes of contracts. For a certain kind of client, like car dealerships and non-profit organizations who deal with a lot of vendors, this could be a dream. However, small to medium sized business owners might be turned off by the pricing structure.
Free trial option: A free trial is available, although the length of the trial isn’t published.
Pros: Multiple users for no additional charge, and easy set-up, customization, and installation. They also have a robust support team available 24/7. Company branding is available in all plans as a free service, which is something many of the other options on our list don’t offer.
Cons: They’re amongst the most expensive options. Their Standard Plan costs $600 a year and is billed annually (not monthly), meaning you’re locked into a contract for a year. There’s also a limit in the amount of contracts you can send, unless you’re willing to spend more. Because of this, their product tends to cater towards enterprise clients and not small to medium sized businesses.
Contractbook
Contractbook is a newer company that hopes to “replace all your tools with a single end-to-end platform” with a heavy focus on contract automation. Contractbook could also be an attractive option for more forward-thinking small to medium sized businesses that want to manage the entire lifecycle of their contracts in a single, fully automated flow.
Free trial option: There is a free option for individual users which includes pre-made templates and unlimited signatures.
Pros: With Contractbook you can execute your contract right on the platform and choose between national IDs, two-factor verification or single-click signature.
Cons: Their mobile-first workflow might not be for everybody (you need SMS verification for some contracts), and their admittedly brave stance about leading a “revolt against PDFs” might turn off older clients who’ve become reliant on the old but still industry standard PDF format.
Concord
Concord is a cloud-based contract management software product for the modern workplace. Instead of focusing on specific user needs, it’s a more one-size-fits-all approach which means (to you) that it’s incredibly easy to use. Billing itself as “the only tool you’ll ever need for all your contracts”, Concord promises to be your one-stop-shop for all things contract related.
Free trial option: There is both a 2 week free trial (of the ‘Pro’ option), and a “free version” available which offers some (but not all) of the accoutrements of the ‘Standard’ version.
Pros: What Concord lacks in flashy style and hyper-granular customization, it makes up for in utilitarianism. It’s affordable, does the job, and comes with no fancy extras. For some SMB owners, this really may be all they need.
Cons: There is a big push towards their ‘Pro’ option, which is somewhat basic when compared to entry-level offerings from other contract management software companies. Be careful about what each plan offers. Custom branding and certain clauses are pushed all the way into the ‘Enterprise’ program, which means modifying your contracts on Concord has the potential to get expensive. Because of this, most SMB owners may have better options elsewhere.
Agiloft
Agiloft is an established major player in contract management software circles. Founded in 1991, they’ve become one of the most highly rated contract management tools on the market, Agiloft is focused on mid-to-large sized ventures, so buyers may want to consider other options if they are running a solo venture or small-sized (under 20-person) company.
Free trial option: There is a free trial option for 30 days, and a free option offers a bare-bones version of their services.
Pros: Agiloft is a good selection if you’re dealing with a lot of contracts and don’t mind skimping on customization options unless you’re willing to pay more. If money isn’t a worry and you have a big enough business, this could be for you.
Cons: Agiloft offers customizable plans to fit any need—but there’s a catch: you’re going to need a lot of money to come close to the full packages offered by some of their competitors. The pricing structure can get very confusing, very quickly—at $65 per feature, per month, you could be looking at a hefty monthly fee if you have any specialized needs or want to tailor contracts.
Legito
Legito offers advanced document drafting automation including workflows, approvals, secure sharing and eSignatures. Recently, Legito has made a push to allow for different industry use cases, like NPO’s and real estate.
Free trial option: 30 day free trial
Pros: Even with the new use cases, Legito caters towards a specific type of user (law firms and corporations, as we’ve mentioned). It’s also been hailed for its usability in some reviews, but it’s worth noting that the source of some of these reviews isn’t transparent.
Cons: Legito is quite expensive at $1,200 for a single user per year. External sharing of documents, a common practice in contract management, will cost an additional $2,000 a year for just 100 exports. Affordable if you’re a law firm, not so much for everyone else.
Precisely
Precisely lets you optimize your contract management lifecycle, all the way from the initial request to contract renewal. Contract management is such a big area that Precisely, which attempts to be a one-size-fits-all solution for all kinds of use cases, can at times feel overwhelming—but it’s a valiant attempt nonetheless.