Modern businesses no longer need to spend a lot of time and other resources working with contracts. Today, these processes are successfully automated and optimized by specialized services. In our article, you will learn what is contract lifecycle management software and get acquainted with the best platforms in this area.
PandaDoc
PandaDoc is a popular contract lifecycle management software that automates the processes of creating, sending, and tracking digital documents. The service is well-suited for sales departments, HR, lawyers, accounting, and other departments. It easily adapts to businesses of different sizes and areas of activity, helping to simplify and speed up the document flow process. It is possible to integrate it with third-party software, including various CRM and ERP systems.
Key features:
- PandaDoc can be used to develop commercial proposals and contracts, as well as electronically sign documents.
- Users have access to an extensive database of document templates, tracking the status of a document after it is sent, and real-time collaboration functions.
- The built-in editor allows you to create and edit documents using drag-and-drop, create content libraries, edit downloaded documents, or develop them from scratch.
- Collaboration tools allow multiple users to work on a document simultaneously, make and track changes, and add comments.
- PandaDoc provides advanced reporting and analytics features. Thanks to them, you can track the effectiveness of working with documents, including completion rate, viewing time, duration of interaction and other metrics.
This contract management software offers 4 tariff plans:
- Free – for individual users. It allows you to sign an unlimited number of documents for free.
- Essentials ($19/month per user, if paid for annually) provides an editor, templates, document tracking, and document analytics.
- Business ($49/month per user, if paid for annually) additionally includes a content library, workflow approval, branding, and integrations.
- Enterprise – for large companies. Its cost is calculated individually.
As you can see, this service has tariffs that may be suitable for small businesses. All paid plans come with a 14-day trial period.
Agiloft
The Agiloft platform deserves its place in our selection of the best contract management software. It effectively automates all stages of the contract life cycle, optimizes approval, and integrates this data into various business processes. Additionally, the system supports the automation of routine tasks and monitoring of several indicators.
Agiloft is more than just a contract management service. It is a fully functional no-code CRM with extensive functionality. It will be useful for both emerging startups and large corporations, as well as agencies and non-profit organizations.
Key features:
- Users can flexibly automate various business processes and tasks. They are assisted in this by the built-in drag-and-drop process editor and autorun function based on specified rules.
- Automatic notifications and confirmations can be sent via email with just one click, significantly speeding up the approval of documents.
- Cloud storage ensures secure storage of electronic documents in a repository and allows for easy management through a single dashboard. Additionally, the program provides a useful function for searching contracts, individual clauses within them, and attached files.
- Customizable budget and forecast reports offer valuable business insights into contract financial metrics.
- The platform enables users to create contracts with just one click, automatically inserting dates, fields and formulas into DOC or PDF templates.
Users of this contract management software are offered three tariff plans:
- Essentials. This plan provides basic tools for contract aggregation and optimization.
- Advanced. The tariff includes a standard set of functions for managing turnkey contracts to increase efficiency and minimize risks.
- Premium. Users who choose this plan receive an expanded package of services to fully optimize the contract lifecycle and maximize ROI.
The cost of each plan is calculated individually. To obtain this information, you must send a corresponding request to the Agiloft sales department.
ContractWorks
Cloud service ContractWorks is a well-known contract management software. It effectively automates and speeds up electronic document management processes. It gives you complete control over the lifecycle of your contracts. Using it, you can create perfect contracts and agreements, increase their accuracy and transparency, and never miss a renewal date.
Key features:
- The platform offers a secure contract repository with advanced search capabilities and drag-and-drop addition. Here, users can assign roles and flexibly manage access levels.
- The functions of signing, marking, tracking, and notification of all actions with documents significantly simplify and speed up your work. Automatic calendar and email notifications promptly inform you about expirations of contracts and other important events.
- ContractWorks provides convenient tools for creating contracts from scratch and based on input data. Platform users have the opportunity to delegate these tasks to their colleagues and partners.
- The service uses AWS certified data centers, offers contract auditing services, and protects their authenticity with watermarks. Optical character recognition technology allows you to quickly find the information you need.
- Contract management software reviews highlight the benefits of this platform. Among them are a built-in electronic signature, document flow templates, and advanced functionality for reporting and analytics.
The system offers three tariff plans with a 2-week free trial period:
- Standard ($700/month with an annual subscription). This plan supports unlimited users, up to 2,500 documents, and 5 electronic signatures.
- Professional ($900/month with an annual subscription). The tariff provides for an unlimited number of users, up to 10,000 documents, and 10 electronic signatures.
- Premium ($2000/month with an annual subscription). The maximum plan additionally gives access to drafting, redlining, and workflows.
LinkSquares
LinkSquares is a well-known enterprise contract management software developed using AI technologies. It is a full-featured all-in-one contract lifecycle management platform tailored to the specific needs of legal departments in companies. The service optimizes the processes of creating, storing, processing, organizing, and searching for contracts. With its help, you can perform document management tasks more efficiently and quickly, increase productivity, and strengthen the relationships between company departments.
Key features:
- The LinkSquares Analyze cloud repository organizes all data stored in the database and automates workflows. Thanks to it, users can extract the information they need, generate more profit, minimize risks, and generate useful insights based on AI.
- LinkSquares Craft makes it easy and quick to draft, review and validate contracts. It integrates seamlessly with the tech stack, featuring customizable templates and dynamic processes.
- Advanced AI-enabled reporting and analytics. With their help, you can automatically generate up-to-date information on key business indicators. Thanks to them, users can flexibly plan business development, track potential risks, and measure team performance.
- LinkSquares Prioritize makes it possible to track and manage your company's legal processes through a single dashboard.
- Collaboration tools include scalable processes for task delegation and automated reporting.
- The platform contains an impressive set of pre-installed integrations with third-party systems and APIs for developing them from scratch.
This online contract management software does not provide publicly available information about its pricing plans. Those wishing to obtain such information should contact the LinkSquares sales department. Most likely, prices vary based on the needs, specifics, and scale of the client’s business.
Juro
Our selection of the best contract lifecycle management software is complemented by the relatively new Juro service. It provides a universal platform for creating, negotiating, and managing contracts. With its help, users can flexibly automate document processing using built-in AI technologies. The service is suitable for various areas of activity and is optimal for sales, finance, HR, legal departments, and more.
Key features:
- Juro allows you to generate various types of contracts from ready-made templates in a few seconds. The AI Assistant is responsible for automatically configuring them.
- Users can effectively manage and control artificial intelligence through a set of rules, constraints, and scenarios.
- Thanks to the platform's tools and built-in AI, you can easily and quickly create contract summaries without spending long hours studying them yourself.
- Automatic contract verification is another useful feature of this top contract management software. AI algorithms analyze documents directly in the service’s web interface, significantly speeding up and simplifying work with them.
- The built-in online editor allows you to create contracts with conversational forms and conditional logic, as well as place rich media content in them. The service system makes it possible to process and automate contracts from third-party systems, including Pipedrive, HubSpot, and Salesforce.
Platform clients are offered three tariff plans:
- Essentials (for small startups).
- Growth (for teams wanting to automate document flow).
- Enterprise (for large companies with growing volumes of contracts).
Like the previous participant in our review, Juro does not publish information about prices for its services. This information can be obtained individually upon request.
Conclusion
All the services described in our article provide universal tools for creating, analyzing, and managing contracts. Some of them have additional functions. For example, LinkSquares and Juro automate contract processing using AI technologies. The Agiloft platform is a full-fledged CRM with advanced tools. If you are looking for free contract management software, we recommend paying attention to PandaDoc. This service offers a Free plan with basic features for individual users. Prices for the Juro and LinkSquares services can only be found upon an individual request to the sales department of the developer company.
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