Best Contract Management Software in 2022

Best Contract Management Software in 2022
Vlad Kovalskiy
October 29, 2021
Last updated: October 29, 2021

When you engage in business relationships, you have to protect your legal rights. It means that running a company involves drafting, negotiating, and managing contracts on a regular basis.
These documents encourage confidentiality and cooperation between two or more parties in a certain transaction. Each stage of this process consumes a lot of time and is subject to errors and omissions. Contract automation makes it more optimized and effective.  

Bitrix24

It is an all-in-one system that offers powerful tools for document management. The platform is not designed specifically for contract administration but businesses can benefit from its high-quality services. The software allows you to store and group your contracts, control access rights, track all edits and versions, automate your document creation workflows, and communicate with your team members. The company's partner provides a range of add-ons for efficient contract management. They include template generation, esignatures, payment schedule tracking, and approval processes.

Pros

Cons

· A free cloud-based version (unlimited users)

· It is not created specifically for contract administration

· Multiple collaboration tools

· Add-ons for contract management are available for self-hosted plans

· Workflow automation

 

· Various integrations

     

●      Bitrix24 offers these features:

●      Content storage;

●      Data migration;

●      Document generation;

●      Document access rights;

●      Advanced searching and filtering;

●      Custom fields;

●      Online and local editing;

●      REST API;

●      Smart process automation;

●      File synchronization;

●      File sharing;

●      Versioning;

●      Report generation;

●      Collaboration tools;

●      Multiple integrations;

Being able to effectively collaborate on your documents is crucial, especially for remote teams. With multiple collaboration and communication tools, you can maintain accuracy and avoid missed deadlines in contract administration. Personal and group drives and file permissions ensure the safety of your data. You can set up the read-only mode to prevent any changes from being made. Workflow automation helps reduce the number of repetitive tasks and receive reminders and notifications.

Pricing

Bitrix24 offers cloud and self-hosted editions. Your company can benefit from selecting its cloud-based free version since it includes a set of useful functions.

Free (cloud): unlimited users, data migration, online and drive storage, CRM and calendar integration, online and local editing, communication tools.

Basic: $49/month/5 users, online and drive storage, document generation and viewing, file synchronization, editing, versioning, communication, integrations, REST API.

Standard: $99/month/50 users, storage (100 GB online), collaborative editing, versioning, public file and folder sharing.

Professional: $199/month/unlimited, storage (1,024 GB), custom fields, file sharing, file access rights, regular reports, automation.

 

ContractWorks

This platform provides a cost-effective solution to help you manage your contacts without much hassle. Its user interface is simple and intuitive. The system can be easily set up without needing any skills. It offers AI-powered technologies so you can automate some of your work processes. ContractWorks is suitable for various industries and company sizes and can be implemented departmentally or organization-wide.

Pros

Cons

· Ease of use

· No mobile application

· Good customer support

· Limited integrations

· Affordable prices

· No ability to create contracts; it provides only templates

· Free data migration

· Not focused on contract negotiations

Its key features include:

●      A secure centralized repository;

●      Administrator-controlled access;

●      Customized reports;

●      Automatic contract outlines;

●      Key milestone notifications;

●      Email notifications;

●      OCR, advanced search functions;

●      Smart document tagging;

●      Integrated signatures;

●      Data encryption;

●      Multi-factor authentication;

Pricing

The company offers three plans at affordable prices:

Standard: $600/month for an unlimited number of users, 2,500 documents, and 5 electronic signature licenses; annually.

Professional: $800/month, unlimited users, 10,000 documents, and 10 e-signature licenses; annually. 

Enterprise: $1000/month, unlimited users and documents, 20 e-signature licenses, annually.

 

Concord

This contract management software offers a centralized platform for creating contracts and managing all your negotiations. Users can upload an unlimited number of contracts to the platform, draft documents using templates, chat with any third party, automate workflows, and build custom reports. The system integrates with Salesforce, DocuSign, Word, Google Drive, Box, and Dropbox, which provides an automatic backup for your data. Concord also allows you to invite any guest to review, edit, and sign your documents. It is best suited for large companies. The company offers a free trial version.

Pros

Cons

· Unlimited contracts, viewers, and signatures

· No refunds on plans

· Fast and accurate search functions

· Limited reporting metrics

· Bulk upload features

· Integrating contracts signed outside of the platform is complicated

· Easy and secure contract sharing

· No streamlined way to train other team members on how it works

Concord stores all your edits and actions in a comprehensive audit log, so you can view them at any time. The platform guarantees the highest level of security since it complies with various international and industry-specific standards. Advanced security options include complex passwords, double authentication, and regional data hosting.

Its core features include:

●      Real-time editing;

●      Unlimited e-signatures;

●      Smart fields;

●      Template storage;

●      Approval workflows;

●      Versioning for efficient negotiations;

●      Private comments and chats;

●      Clause libraries for pre-approved clauses.

Pricing

Concord provides four plans. You can choose an annual or monthly subscription. If you go with its annual fee, you will save over 26%.

Free: Unlimited documents and digital signatures, collaboration tools for up to 3 users and 3 templates. 

Standard: $17/month, unlimited templates, amendment management, bulk send features, custom roles and teams, unlimited viewers. 

Pro: $49/month, approval workflows, customized reports, integrations, open API. 

Enterprise: The price is not given, clause library, custom branding, subsidiary management, SSO.

    

Updraft

This well-featured contract management tool was designed by lawyers to help their colleagues reduce repetitive and time-consuming tasks. It can be applied by other professionals as well. The system's algorithms and legal databases automate drafting processes followed by lawyers, which makes it easy for non-legal professionals to use. 

Pros

Cons

· A controlled drafting process that prevents the use of illegal or unapproved contractual terms

· Commercial plans might be expensive

· Analytics tools for real-time reports

· Updating from one account to another requires reinstalling

· Task management

· Its initial setup and implementation might be more complicated compared to other tools

· Provides an online contract drafting portal with no fees for external users

      

With this software you may create custom electronic-signature workflows and approval processes to meet your unique requirements. Its bank-level cryptographic algorithms verify each user before your document is processed. It saves time and reduces the risk of fraud.

Updraft's main features are:

●      Templates;

●      Contract lifecycle management;

●      A centralized repository;

●      Specialty contracts;

●      Digital signatures;

●      Version control;

●      Workflow management;

●      Bulk contracting processes;

●      Completion and compliance tracking.

Pricing

The provider's pricing structure depends on the number of users and monthly transactions. It offers volume discounts for larger businesses. To get a price quote tailored for your specific requirements, you will need to fill out a form on Updraft's website. You can request a demo version.


PandaDoc

It is an all-in-one contact management solution that allows you to customize, negotiate, and digitally sign complex contracts. It offers multiple templates that are combined with a library of pre-approved clause choices, which enables you to quickly create error-free professional documents. Also, you can schedule renewal reminders and keep track of upcoming renewals automatically. The system syncs with HubSpot CRM, Piperdrive, Salesforce, Box, PayPal, Slack, and more. This contract management software might be a good solution for businesses of any size. 

Pros

Cons

· Round-the-clock support for commercial plans

· Some editing features are complex

· Unlimited digital signatures and document uploads

· Its free plan has limited integrations

· The user interface design is straightforward and easy to grasp

· There can be system glitches from time to time

· A 14-day free trial

     

Its key features include:

●      Document creation and signing;

●      Custom variables and fields;

●      Regulatory compliance;

●      Custom branding;

●      Payment processing;

●      Notifications and reminders;

●      Signature history and audit. 

Pricing

PandaDoc has four plans. Choosing annual fees will allow you to save up to 24%. You can test the platform out with a 14-day trial and request a demo version.

Free: Unlimited esignatures and document uploads, a mobile application, and payments.

Essentials: $19/month/user, templates, a drag-and-drop document editor, pricing tables, document analytics, round-the-clock email and chat support. 

Business: $49/month/user, content libraries, custom branding, approval workflows, bulk send functions, CRM and Zapier integrations. 

Enterprise: The price is not given, an unlimited number of team workspaces, SSO support and custom user roles, user performance, content reporting, API, and Salesforce integration.

 

Juro

The platform provides a unified workspace that lets legal and business teams create, approve, digitally sign, and manage their documents. Using this software will allow you to get a customized contract in minutes and quickly send it out for approval. Commercial plans include integrations with Gdrive, Salesforce, and Slack. 

Pros

Cons

· It has a free plan for up to 50 contracts

· No mobile app

· Ease of use

· No ability to send the same document to several people at once

· An extensive set of features

      

Juro's features include:

●      Document generation;

●      Digital signatures;

●      Pre-built templates;

●      Government contracts;

●      Collaboration tools;

●      Compliance tracking;

●      Version control;

●      Workflow management;

●      Optical character recognition.

Pricing

There are four annual plans available, and you can not pay monthly. The company offers a demo version. 

Free: Includes 1 user and 50 contracts, template editing, external negotiation, native digital signatures, Kanban tools. 

Lite: $59/500 contracts/5 users, unlimited templates, internal commenting, native signatures, audit trails, renewal reminders, Slack and company data integration. 

Team: $90/unlimited contracts/10 users, approval workflows, custom table views, OCR and data extraction, CSV export, and user access levels. 

Business: The price is available upon request; includes a single sign-on feature, bulk actions, SAML, Salesforce and Greenhouse integration, REST API, and webhooks.

 

Agiloft

It has been providing contract management services for several decades. The company is constantly working on upgrading its software. The system is built on a no-code platform, which makes it highly customizable. Agiloft offers flexible approval workflows, built-in AI, templates and clause libraries, automated notifications, and synchronization with existing systems. Applying its contract management software will allow you to streamline your workflows associated with initiating, executing, and managing contractual agreements. It is suitable for businesses of any type and size. 

Pros

Cons

· The system is highly customizable

· The system might be complicated to understand, takes some time to train users and developers

· Excellent customer support

· No internal chats

· It offers a free trial

      

Agiloft provides high-level security for your data. It uses configurable two-factor authentication which helps prevent any breaches. All your information is securely kept at its primary data center and replicated to secondary servers with redundant SSD drives. Choosing this contract management software will also allow you to meet such regulatory requirements as GDPR, HIPAA, and Sarbanes-Oxley.

Agiloft's features are:

●      Contract lifecycle management;

●      Pre-built templates;

●      Digital signatures;

●      Clause libraries;

●      Version control;

●      Content storage;

●      AI-powered tools;

●      Compliance and completion tracking;

●      Approval workflows and execution;

●      Alerts and performance tracking.

Pricing

Agiloft offers customized pricing strategies. You may receive a quote upon request. 

Professional: Contract print templates, contract comparison, approval workflows, client support, 5 power users, and timer-based rules.

Professional extended: Standard support, contract templates, vendor portals, multi-language support, employee and customer portals, and pre-built integrations. 

Enterprise: Customer support, print templates, contract comparison and authoring, open integration API and scripting, pre-built AI modules, and self-hosted deployment options. 

Enterprise extended: Contract management features, unlimited custom modules, round-the-clock support.

 

ContractSafe

This contract management software offers a variety of useful features and several pricing options. The platform is easy to set up and use. It focuses on storage and sharing, security and notifications. ContractSafe's advanced search capabilities allow you to search for any document by keyword. With their tagging feature, you can assign tags to quickly group your contracts. The company does not offer full lifecycle management. It is best suited for small and mid-sized businesses. 

Pros

Cons

· Unlimited users and reminders

· Might be expensive for some businesses

· Easy to implement

· The system can be slow at times

· Extensive tagging and strong search capabilities

· No contract authoring or built-in editing

· Comprehensive security

· Limited collaboration

· Responsive customer support

     

ContractSafe offers an extensive range of security features. Its automatic offsite backup function guarantees your data or any sensitive information will never be lost. You can also create your own backups at any time. Malware and intrusion detection systems regularly monitor threats to ensure the safety of your account. Also, rest assured that ISO 27001 and PCI DSS certified data centers will prevent breaches and payment card fraud.

The platform offers these features:

●      Unlimited users;

●      Easy roles and permissions;

●      Notifications on new uploads;

●      Intuitive keyword searching;

●      Reporting capabilities;

●      Automated email reminders;

●      Filterable calendars;

●      Automatic contract renewals;

●      Data protection;

●      In-product help and guides;

●      Customized training sessions;

●      Integrations with external applications.

Pricing

Each plan includes a free trial, data and document migration, onboarding support, implementation support and training, and customer service. You can pay annually or opt for monthly fees. Annual plans will allow you to save 20%. You may also schedule a demo. 

Basic: $299/month/500 contracts, unlimited users and date reminders, contract speed search with OCR, bank-level security, user roles and permissions, bulk edits, and amendment tracking.

Standard: $499/month/1,000 contracts, everything in Basic + custom fields and forms, multiple saved views, report scheduling, redline generation, and DocuSign integration. 

Professional: $699/month/2,500 contracts, everything in Standard + 100 jump start contracts, 2-way DocuSign integration, virtual data rooms, single sign-on features, and Zapier integration. 

Enterprise: $899/month/5,000 contracts, everything in Professional + 200 jump start contracts, Salesforce and API integrations, and IP white listing.


Free. Unlimited. Online.
Bitrix24 is a place where everyone can communicate, collaborate on tasks and projects, manage clients and do much more.
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