Best Contract Management Apps

Best Contract Management Apps in 2023

Snigdha
By Snigdha | Last Updated on August 8th, 2024 11:48 am

Drawing contracts and managing them is an important part of running a business successfully. Initially as the companies are starting out, this might be easy to do manually. However, as companies grow and the number of contracts and documents increase, the need to look for the best contract management software arises. The projected global market value of the contract management software industry is predicted to reach US$ 8,263,3 million by 2033 (Source). The right contract management app can streamline your workflow, reduce risks, and boost productivity. But with a plethora of options available, finding the best contract management software can be a daunting task. In this blog, we'll walk you through the top contract management apps and software platforms available, and provide all pertinent details about these apps so that you can make an informed decision while choosing the top contract management software for your business. However, should you feel that none of the apps mentioned in the blog are perfect, you can choose an app that best fits your needs and then employ strategic integrations with contract management apps to customize them.

What is a Contract Management App?

Before diving into our list of the best contract management apps, let's start with the basics. What exactly is a contract management app, and why do you need one? Contract management is the process of creating, negotiating, executing, and tracking contracts between parties. This includes everything from sales agreements to employment contracts. A contract management app is a digital tool designed to facilitate and automate these processes. Key features of contract management apps typically include:
  • Document Storage: A centralized location to store all your contracts.
  • Document Creation: Templates and tools to easily create new contracts.
  • E-Signature Integration: The ability to electronically sign and store signed contracts.
  • Alerts and Notifications: Reminders for contract deadlines and renewals.
  • Search and Reporting: Robust search capabilities and customizable reporting.
  • Version Control: Keep track of changes and revisions.
  • Security: Ensures data confidentiality and compliance with regulations.

Top Contract Management Software

Now, let's dive into the best contract management apps available, highlighting their descriptions, pros, cons, and pricing.

  1. PandaDoc

    2. PandaDocis a popular contract management app known for its ease of use and powerful features. It offers a wide range of contract templates and integrates seamlessly with CRM and e-signature solutions. You can leverage popular PandaDoc integrations with apps of your choice for greater outcomes.

    Pros

    • User-friendly interface.
    • Extensive library of contract templates.
    • Integration with popular CRM systems.
    • Real-time analytics and reporting.
    • E-signature capabilities.
    • Secure document storage.

    Cons

    • Pricing can be on the higher side for smaller businesses.
    • Some advanced features may require additional add-ons.

    Pricing

    PandaDoc offers a free trial, and paid plans start at $19 per user per month.

  2. HyperStart CLM

    3. HyperStart CLM is an end-to-end contract management software with 80% faster contract creation and approval. This software automates contracting, reduces TAT, and minimizes business. HyperStart software offers features like AI-powered data extraction, automatic contract creation, ready-to-use templates, and AI review. Here are the pros and cons of HyperStart CLM software.

    Pros

    • 99% accuracy in extracting metadata from contracts
    • Easy to integrate with CRMs, eSign tools, and cloud storage
    • Robust security with ISO and GDPR compliance
    • No-code templates within just a few clicks
    • Auto-generated dashboard to check the status of contracts

    Cons

    • Users are required to be familiar with its learning curve for efficient use of the software
    • Older or legacy software might not be compatible to integrate with HyperStart CLM

    Pricing

    HyperStart CLM offers customized and transparent pricing based on the number of contracts, users, and required modules.

  3. LinkSquares

    4. LinkSquares is an AI-powered contract management platform that specializes in contract analysis and risk assessment. It can automatically extract key data from contracts, making it easier to manage and review large volumes of documents.

    Pros

    • Advanced AI contract analysis.
    • Robust contract search and reporting.
    • Contract tracking and reminders.
    • Integration with popular cloud storage solutions.
    • Strong focus on compliance and risk management.

    Cons

    • May not be as user-friendly for those without legal expertise.
    • Pricing may be a barrier for smaller businesses.

    Pricing

    LinkSquares offers customized pricing based on your needs.

  4. GetAccept

    5. GetAccept is not just a contract management app but an all-in-one sales enablement platform. It streamlines the entire contract workflow, from creation to e-signature and tracking.

    Pros

    • Collaborative document editing.
    • E-signature functionality.
    • Proposal tracking and analytics.
    • Integration with CRM systems.
    • Real-time notifications and engagement tracking.

    Cons

    • Some users may find the learning curve steep.
    • Pricing can be on the higher side for smaller teams.

    Pricing

    GetAccept offers a free trial, and paid plans start at $25 per user per month.

  5. DocuSign CLM

    6. DocuSign CLM (formerly SpringCM) is a part of the DocuSign family and focuses on contract lifecycle management. It offers a wide range of features to automate and streamline the contract process.

    Pros

    Cons

    • Pricing may not be budget-friendly for small businesses.
    • Some users report occasional performance issues.

    Pricing

    DocuSign CLM offers customized pricing based on your requirements.

  6. SAP Ariba

    7. SAP Ariba is a comprehensive procurement and contract management solution designed for large enterprises. It covers everything from supplier management to contract creation and compliance.

    Pros

    • Enterprise-grade features.
    • Integration with SAP ERP systems.
    • Supplier collaboration and sourcing capabilities.
    • Advanced reporting and analytics.
    • Global compliance and regulatory support.

    Cons

    • Overkill for small to medium-sized businesses.
    • High pricing may be a barrier for some organizations.

    Pricing

    SAP Ariba offers customized pricing based on your organization's needs.

  7. Square Invoices

    8. Square Invoices, a part of Square's suite of business tools, is a simple and straightforward invoicing and payment solution. While not a full-fledged contract management app, it's suitable for small businesses that need to create and manage invoices.

    Pros

    Cons

    • Lacks advanced contract management features.
    • Not ideal for organizations with complex contract needs.

    Pricing

    Square Invoices offers a free plan with payment processing fees and a paid plan starting at $15 per month.

  8. Ironclad

    9. Ironclad is a contract management platform built for modern legal teams. It focuses on collaboration and streamlining the contract creation and negotiation process.

    Pros

    • Collaborative contract editing.
    • AI-powered contract analysis.
    • Integration with popular legal tech tools.
    • Workflow automation.
    • Robust search and reporting.

    Cons

    • Pricing may not be suitable for small legal teams.
    • Some users report occasional software glitches.

    Pricing

    Ironclad offers customized pricing based on your needs.

  9. Coupa

    10. Coupa is a comprehensive spend management platform that includes contract management as one of its key features. It's designed to help organizations optimize their spending and procurement processes.

    Pros

    • Procurement and expense management capabilities.
    • Advanced contract automation.
    • Integration with ERP systems.
    • Real-time spend analytics.
    • Supplier collaboration tools.

    Cons

    • Overly complex for smaller organizations.
    • Pricing may not be budget-friendly for some.

    Pricing

    Coupa offers customized pricing based on your organization's requirements.

  10. Workday Strategic Sourcing

    11. Workday Strategic Sourcing is part of the Workday suite of enterprise applications. It focuses on procurement, sourcing, and contract management.

    Pros

    Cons

    • High pricing may not be suitable for smaller businesses.
    • Implementation can be complex.

    Pricing

    Workday Strategic Sourcing offers customized pricing based on your organization's needs.

  11. Proposify

    12. While primarily known for its proposal management capabilities, Proposify also offers contract management features. It's a great choice for businesses that need to create and manage both proposals and contracts. Furthermore, you can also integrate Proposify with other apps for versatility and increased functionality.

    Pros

    • User-friendly proposal and contract creation.
    • E-signature functionality.
    • Proposal tracking and analytics.
    • Integration with CRM systems.
    • Collaboration features.

    Cons

    • May lack some advanced contract management features.
    • Pricing may not be suitable for all businesses.

    Pricing

    Proposify offers a free trial, and paid plans start at $19 per user per month.

  12. Jotform Sign

    13. Jotform Sign is a straightforward e-signature solution with contract management capabilities. It's designed for businesses that require a simple and cost-effective way to handle contracts while offering integration with Jotform application.

    Pros

    • Easy-to-use e-signature solution.
    • Document storage and management.
    • Affordable pricing.
    • Integration with popular cloud storage platforms.
    • Suitable for small businesses and freelancers.

    Cons

    • Lacks some advanced contract management features.
    • May not be ideal for organizations with complex contract needs.

    Pricing

    Jotform Sign offers a free plan with limited features and a paid plan starting at $15 per user per month.

Conclusion

Choosing the best contract management app for your business depends on your specific needs, budget, and the scale of your operations. Each of the apps listed above comes with its own set of pros and cons, and the right choice ultimately depends on your organization's unique requirements. Remember to thoroughly evaluate each option, take advantage of free trials when available, and consider your long-term contract management goals. Whether you're a small business owner looking for a cost-effective solution or a large enterprise in need of robust contract automation, there's a contract management app out there that can help streamline your processes and improve efficiency. Investing in the right contract management software can save you time, reduce risk, and contribute to the overall success of your business. So, take your time, explore your options, and choose wisely to ensure seamless contract management for years to come. In fact, it may be wise to opt for the best suited solution and then work to expand its capabilities by employing meaningful app integrations.

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Snigdha

Content Head at Appy Pie

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