There are many different types of contract management software available, and the best one for you will depend on your specific needs. In this guide, I ranked and reviewed the 7 best contract management software, along with my top 4 choices, so that you can pick the best one.
The 6 best contract management software are SAP Ariba, DocuSign, PandaDoc, ContractWorks, Agiloft, and Concord.
A contract management system, or CMS, is a tool or software application that helps organizations manage the process of generating, storing, and automating contracts. It is intended to automate the contract lifecycle, from negotiation through execution to renewal and expiration.
A CMS’s purpose is to help enterprises manage their contracts more efficiently and effectively by providing a centralized location for contract storage and access, automating contract-related procedures, and increasing cooperation and communication among stakeholders. It can also assist companies in mitigating contract risks by verifying that contracts are properly signed and that all parties are in compliance with the provisions of the agreement.
Consider your organization’s specific needs and goals when selecting an automated contract management software, then compare pricing and implementation expenses. Before making a decision, get recommendations from industry peers and request demos or free trials to test the tool.
Let’s get started reviewing the best contract management software available.
Comparison of Best Contract Management Software
| CMS | Best For | Free Trial | Rate | Price |
|---|---|---|---|---|
| SAP Ariba | Small to large businesses | No | 5 | Not disclosed |
| DocuSign | Small to large businesses | Yes | 5 | $10 |
| PandaDoc | Small to large businesses | Yes | 5 | Free |
| ContractWorks | Medium to large businesses | Yes | 4.5 | $700 (unlimited) |
| Agiloft | Medium to large businesses | Yes | 4.5 | Not disclosed |
| Concord | Large Businesses | Yes | 4.5 | $17 |
What are the Best Contract Management Software?
Here are my picks for the best contract management software that manage the entire process of contract creation, management, and execution.
It is important to carefully evaluate the features and capabilities of each software option to determine which one is the best fit for your organization.
1- SAP Ariba
SAP Ariba is contract management software that offers a complete procurement, supplier management, and financial management solution. It also assists businesses in automating the process of procuring goods and services throughout the supply chain. The platform is intended to assist companies in streamlining their procurement procedures, lowering costs and increasing efficiency.
What distinguishes SAP Ariba is the ability to handle and track the entire lifecycle of contracts with various suppliers or/and other partners by having a comprehensive contract authoring library that allows enterprises to manage all their relationships in a single and centralized place. This makes it simple to find and evaluate contracts as needed, and it assists organizations in avoiding lost or forgotten paperwork.
Why I picked SAP Ariba: One of the best capabilities that this platform provides is having a negotiation workspace that allows users to collaborate with different parties in real time which will make the whole process easier and less time consuming.
Key Features
- Real time contract negotiations
- Approval workflows
- Procurement module
- Customizable
- Integrations with third party systems
Pricing
Prices are not disclosed
2- DocuSign
We all know that DocuSign is one of the best electronic signature software on the market. However, you may be unaware that DocuSign offers low-cost contract management software that enables small businesses to automate the contract management process and improve compliance.
They added the full set of capabilities required to provide their customers with additional features in addition to their main digital signature offering after acquiring SpringCM.
Because of their workflow automation tools, users can streamline the entire lifecycle of contracts authoring and creation by automating manual tasks and documenting workflows to the relevant parties.
Why I picked DocuSign: Overall, DocuSign is a powerful and flexible contract management software that is used by companies of all sizes. It includes a number of features and authoring tools that make managing contracts and other legal documents electronically simple.
Key Features
- E-signature
- Workflow automation
- Advanced security measures focusing on compliance.
- Integrations with a wide range of third-party apps and systems
- Mobile app availability
Pricing
- Personal: $10 user/month
- Standard: $25 user/month
- Business Pro: $40 user/month
3- PandaDoc
PandaDoc is one of the best contract management software that allows businesses to manage the full lifecycle of contracts by allowing to create, author, send, sign, and track documents online. It offers a range of capabilities and tools that make it easy to manage contracts and other legal documents electronically.
It offers a wide range of predefined templates that users can use and customize to ease the process of document creation and signing. In addition, it offers the ability to collaborate on documents using their best document collaboration tools.
Why I picked PandaDoc: Overall, PandaDoc is a powerful and easy-to-use automated contract management software that is intended to simplify the process of creating, signing, and managing contracts and other legal documents to improve compliance with industry regulations.
Key Features
- Document and contract library
- E-Signature software
- Real time team collaboration
- Payment processing and approvals
- Fully customizable
Pricing
- Free: Unlimited documents, e-signatures, and users
- Essentials: $19 user/month
- Business: $49 user/month
- Enterprise: Custom pricing
4- ContractWorks
ContractWorks is an AI powered contract management software that allows to automate the process of contracts creation, authoring, tracking, and management. It has an easy-to-use user interface and powerful customizable capabilities, such as automated contract management, to reduce manual interference and boost productivity.
They provide e-signature, workflow automation, advanced security to improve compliance, custom fields, and integration with the majority of well-known systems. ContractWorks is being used by organizations that are serious about automating the entire cycle of their agreements process, including collaboration and sharing.
Why I picked ContractWorks: Overall, it is always recommended to use a solution that adheres to document management trends, such as the use of AI technology. AI has the potential to significantly accelerate the completion of business operations.
Key Features
- Agreements templates
- Contracts library
- Sharing and real time collaboration
- Automated document tagging
- Smart notifications
- Improved compliance with rules and regulations
Pricing
- Standard: $700/month unlimited users, 2500 documents
- Professional: $900/month unlimited users, 10000 documents
- Premium: $2000/month, full package
5- Agiloft
Agiloft has been in the contract management business since 1991. They have consistently improved their offerings over the years, and they are now one of the best contract management solutions for businesses of all sizes.
They provide an easy-to-use and comprehensive customizable solution for agreement and contract automation, from creation to archiving, with signature integration, document management, workflow automation, and advanced security.
With its code-free configurations, you can create custom workflows, routing processes, reports, and even a personalized dashboard to track key performance indicators (KPIs) and alerts.
Why I picked Agiloft: It is well-known for its extensive no-code customization capabilities, which allow users to customize contracts, workflows, fields, security, and many other aspects without requiring any intervention from the company.
Key Features
- E-signature via DocuSign or Adobe Sign
- Automated contract management
- No code customization
- Contracts library and authoring
- Built in OCR, redlining, and document version control
- Built in business rules engine
- Report and dashboards
Pricing
Prices are not disclosed
6- Concord
If you have a large company, Concord is the best option. This customizable tool makes complex contract management operations simple. They provide a user-friendly, easy to use, and adaptable interface, smart contract automation, intelligent document capabilities, and a high-quality security module.
Large organizations such as Quora, Clippers, Puma, Siemens, and others rely on this best contract management software. This demonstrates the tool’s professionalism and the breadth of its offerings.
It acts as the solo place for all your contract processes including contracts drafting, internal approvals, external negotiations, digital signature, deadlines and reports.
Why I picked Concord: This tool is ideal for large organizations looking to automate and manage their contracts in a transparent manner.
Key Features
- Template building
- Real time editing
- Contracts approval workflows
- Renewals and deadlines
- Integrations with other systems
Pricing
- Standard: $17 user/month
- Pro: $49 user/month
- Enterprise: custom pricing
