Contract creation, negotiation, and management are essential components of any business, no matter how large or small. Each step, however, takes time and is prone to common data entry errors. Contract management software, also known as contract lifecycle management (CLM), helps speed up the process while reducing financial and audit risks. However, the vendor contract management software you choose will significantly impact your success. Based on our exploration and review of various features, we’ve compiled a list of the Top 11 Best Vendors for Contract Management Software.

TOP 11 BEST VENDOR CONTRACT MANAGEMENT SOFTWARE

  1. Bonsai – Best For E-Signature Option
  2. PandaDoc – Best electronic signature document platform
  3. Accelo – Best for service or retainer-based businesses
  4. Precisely – Best for multi-department contract automation
  5. ContractSafe – Best contract management for unlimited users
  6. Bonsai – Best contract management tool for freelancers
  7. DocuSign – Best for Small Businesses
  8. Agiloft – Best known for customization
  9. contract work – Best known for Automation
  10. Concord – Best known for large businesses
  11. Outlaw – Best for reporting

1.   Bonsai– Best For E-Signature Option

BEST VENDOR CONTRACT MANAGEMENT SOFTWARE

PRICING:

  • A free account with a few templates is available
  • Starter – $24 per month
  • Professional – $39 per month
  • Business – $79 per month

There was a time when signing contracts took at least a day or more because you had to send a paper contract to your vendors through mail or fax. However, you will not have to worry about wasting time when using Bonsai. The software lets you send online contracts to vendors and partners.

You can use vetted templates to save time and enjoy better productivity. It is also easy for vendors to sign the contract within a few minutes of receiving it due to the electronic signature option. The best part is that the sign will be legally binding to offer you better security.

Your vendor will also have to type their legal name when signing the contract to officialize things.

KEY FEATURES

  • Send an authentic contract to vendors using Bonsai or create a secure link
  • Save your customized templates to use them for other vendors
  • Get notifications when your vendor views the contract and signs it
  • Set automatic email reminders so that the relevant party does not forget to sign the document

REASONS TO BUY

  • Some standard contracts are available for free
  • It will save you a lot of time
  • You can see the complete templates library on a free trial of one week
  • NDAs can also be signed using Bonsai

REASONS TO AVOID

  • Navigating the feature may be difficult if you’re creating your contract from scratch
Visit Bonsai

2. PandaDoc – Best electronic signature document platform

PRICING:

  • Free
  • Essential – $19 Per Month
  • Business – $59 Per Month
  • Enterprise – Contact Us

PandaDoc is one of the best contract management software. It is an all-in-one solution that allows users to create proposals, contracts, human resources documents, and quotes, among many others.

This feature-rich and low-cost makes the software outstanding from its counterparts, making it the best overall choice for businesses of any size.

KEY FEATURES

  • Content and contract library
  • Contract duplication
  • Real-time notifications
  • Document Builder Interface

REASONS TO BUY

  • Customer support
  • It has an E -signature feature
  • It is a Drag and drops
  • Easy to use
  • Regulatory Compliance

REASONS TO AVOID

  • Only Business or Enterprise plans have access to the content of the library.
  • The bulk send feature is not included in the free plan.
  • Limited integration in the free plan

3. Accelo – Best For Service Or Retainer-based Businesses.

PRICING:

  • Plus – $24 Per Month
  • Premium – $39 Per Month

Accelo is a cloud-based contract management platform used by professional service businesses to supervise their client’s work easily and accurately.

Regardless of where you are, Accelo will manage all aspects of client work delivery, from prospect to payment, including tickets, retainers, sales, timesheets, projects, resourcing, and more.

KEY FEATURES

  • Billing & Invoicing
  • Capacity Management
  • Collaboration Tools
  • Document Management

REASONS TO BUY

  • Team Scheduling
  • Sharing of File
  • It Is a Drag and Drop Platform
  • Notes/ Commenting

REASONS TO AVOID

  • Disorganized Data
  • Poor Management

4. Precisely – Best for multi-department contract automation.

PRICING:

  • Free Trial
  • Professional – $69 Per Month
  • Enterprise – $99 Per Month

Before sending contracts out for signatures and final approvals, you need everyone’s input and approval as a midsize or large business with multiple departments. Contract automation and custom workflows are the best ways to ensure everyone’s involvement.

Precisely is a contract management software designed for multi-department contract automation. Streamlining the process has never been easier, from drafting and reviewing to signing and archiving.

KEY FEATURES

  • Third-Party Integrations
  • Document Management
  • Workflow Management

REASONS TO BUY

  • Unlimited Templates
  • Easy Set-up
  • Manage An Unlimited Number Of Contract

REASONS TO AVOID

  • Only enterprise users can access integration
  • Complex User Interface
  • Limited functionality pre-signature

>>More: What Are The Types Of Collaboration Software? | Who Uses Time Tracking Software? | What Is Sales Enablement Software? | Why Is Field Service Management Important?

5. ContractSafe – Best contract management for unlimited users

PRICING:

  • Basic – $299 Per Month
  • Standard – $499 Per Month
  • Professional – $699 Per Month
  • Enterprise – $899 Per Month

ContractSafe is one of the best vendor contract management software suitable for any business size. Its features include key date alerts, contract management, document management, and customizable dashboards. These features make ContractSafe extraordinary for its users.

KEY FEATURES

  • Intelligent Notifications
  • Unlimited Support
  • Audit Management

REASONS TO BUY

  • File Sharing
  • Active Security & Data Protection
  • Easy To Use
  • Collaboration Tools

REASONS TO AVOID

  • Absence of API

6. Bonsai – Best contract management tool for freelancers.

PRICING:

  • Workflow – $19 Per Month
  • Workflow Plus – $29 Per Month

Legally binding contracts are the most important part of protecting yourself as a freelancer and ensuring you get paid on time.

As a result, you require a simple contract management tool that is easy for you and your clients.

So, with Bonsai, you get what you need, as It helps you with the details of proposals, quotes, managing contracts, and invoices.

KEY FEATURES

  • Invoicing And Payments
  • Project Management
  • Tax Support

REASONS TO BUY

  • Time Tracking
  • Simple To Use
  • Ios/ Android Compatibility
  • Unlimited Collaboration

REASONS TO AVOID

  • Expensive
  • Limited Integration
  • Limited Features

7. DocuSign – Best for Small Businesses

PRICING:

  • Personal – $15 Per Month
  • Standard – $40 Per Month
  • Business Pro – $60 Per Month
  • Advanced Solutions – Contact Us

DocuSign is one of the best contract management services that provide small businesses with low-cost contract management solutions.

Customers can use the solution to automate their document agreement process. Flexible signing, templates, and cloud-based document storage help reduce costs and stress while increasing customer productivity.

KEY FEATURES

  • Cloud Storage Integration
  • Pdf Form Conversion
  • Extensive File Type Support

REASONS TO BUY

  • Third-party Authentication
  • Templates And Editing
  • Document Workflow

REASONS TO AVOID

  • A Full Clm Solution Necessitates A Custom Quote.
  • The Initial Workflow Configuration Is Difficult.
  • Sometimes Has Issues Syncing Documents.
  • A Limited Number Of Document Types

8. Agiloft – Best known for customization.

PRICING: there is a need to contact the Agiloft software to get a price quote. Different packages vary in price and features; the higher the rate, the more enormously rich the features.

Agiloft is contract management software that allows users to track all contracts and provides code-free customization, agreements, and other document types within your organization from a single location.

Plus, it provides an audit trail for every document, stores your data in secure data centers, and complies with Sarbanes-Oxley, GDPR, and HIPAA.

KEY FEATURES

  • Email Integration.
  • Outbound Email Integration.
  • Email Alerts And Escalation.
  • Broadcast Messaging

REASONS TO BUY

  • Sms Integration
  • Easy To Use
  • Document Management

REASONS TO AVOID

  • No internal chat feature
  • Unlimited customization

9. Contract work – Best known for Automation

PRICING:

  • Standard – $600 Per Month
  • Professional – $800 Per Month
  • Enterprise – $1,000 Per Month

ContractWorks is one of the best vendor contract management software that enables you to sign, track, and manage corporate agreements with Artificial Intelligence enabled technologies which provides automated services, saving you stress, time, and money.

In addition, It also includes customizable reporting functionality to provide insight into a company’s contract portfolio and a built-in electronic signature to speed up the contract signing process. Within ContractWorks, permission-based roles can be defined, allowing businesses to grant access.

KEY FEATURES

  • Contract Management
  • Notifications/ Alerts
  • Artificial Intelligence

REASON TO BUY

  • Automatic Smart Contract Outlines
  • Contract Repository
  • Milestone Alerts
  • Automatic Recordkeeping

REASON TO AVOID

  • Very Limited Integrations
  • No Mobile App
  • No Document Creation

10. Concord – Best known for large businesses

PRICING:

  • Free
  • Standard – $17/ Per Year
  • Pro – $49/ Per Year
  • Enterprise – Contact Us

Concord is a contract management software that assists all businesses in managing the whole contract, from contract creation to post-execution renewal management, and also sends an unlimited number of documents.

Users platforms also use Concord to manage all contract negotiations, including redlining, commenting, and chatting with counterparties, all on the same platform.

KEY FEATURES

  • Template Storage
  • Autofill Smart Fields
  • Built-in E-signature
  • Contract Collaboration

REASONS TO BUY

  • Deadline Reminders
  • Simple To Use
  • Contract Database
  • Digital Asset Management

REASONS TO AVOID

  • No Refunds On Plans
  • Versioning Requirements Create Long Data Logs
  • Difficult To Integrate Contracts

11. Outlaw – Best for reporting

PRICING:

  • Core User – $125 Per Month
  • Collaborator – $60 Per Month

Outlaw is a great contract management software that allows you to create smarter deal flows and close them quickly. You can launch your contracts quickly with dynamic template authoring, automated workflows, and built-in editing.

Outlaw’s proprietary authoring system powers no-code conditional logic templates, accepts third-party paper, enables powerful AI to search and track, and easily integrates with existing workflows and business tools.

KEY FEATURES

  • Smart Variable Contract Drafting
  • Word/ Pdf Export
  • Real-time Notifications
  • Completion Tracking

REASONS TO BUY

  • Teams Dashboard
  • Encrypted Data Formats
  • Ease To Use
  • Cloud-based Contract Storage

REASONS TO AVOID

  • Specific individuals can only sign the agreements, and not all businesses require this level of security.



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