Is it time for your sales team to adapt to new contract management software? Or are you shopping around for one for the first time? When choosing the right platform, it is important that your contract software is a sales tool that enables your team to work through the entire contract lifecycle.
To simplify a few of the popular tools I’ve tested and pick from the best, this article aims to familiarize you with the tools and all of their features.
Let’s take a look at five of the top-rated contract management software programs for sales teams of all sizes.
PandaDoc is my pick for the best contract management software, thanks to its many versatility and ease of use.
In fact, the program is designed to tackle problems and improve efficiency. This can be done through securing electronic signatures more quickly, cutting down the amount of time spent on creating contract documents, and getting a higher close rate.
Just a few of the key benefits worth highlighting include:
- An easy-to-use contract creation and contract renewal system
- Native CRM integrations (Salesforce, Microsoft Dynamics, etc.)
- Improved workplace productivity
- High-level analytics reporting
PandaDoc offers over 20 other document management features, including:
- A document builder
- Document analytics
- Access codes
- Forwarding documents
- Document sender selection
- Document autonumbering
Other features worth mentioning are contract lifecycle management, electronic signatures with the entire approval process, payment integrations, roles management, content libraries with easy to use drag-and-drop capabilities, content locking, branding, and an audit trail.
Even if after doing your research you aren’t committed to purchasing yet, you can try out PandaDoc with a 14-day free trial.
This contract management software is one of the more affordable options on the market.
In fact, the professional plan costs $19 per month per user and includes several features. For example, a total of five templates, unlimited documents and electronic signatures, document analytics, document builder and editor, custom branding, pricing tables, and product catalogs, and email support.
However, for the business plan, you’ll be paying $39 per month per user. Features include unlimited templates, documents, and electronic signatures, custom branding, email and phone support, manager approval workflow, auto reminders, and a content library.
Lastly, the enterprise edition will vary in price depending on the needs and scope of the business.
Besides, some key features that this edition includes are all the features listed in the other editions, plus custom integrations, content usage reporting, premium support, multiple teams and workspaces, document expiration settings, and a document embedding option.
You may know DocuSign as one of the leaders for electronic signatures with over fourteen million users worldwide.
However, did you know they merged with Spring CM to provide an innovative Contract Lifecycle Management Platform that promises to help its users save money, time, and trees?
In fact, DocuSign SpringCM helps users to streamline the contract lifecycle through automating the typical agreement processes.
DocuSign’s user-friendly platform comes with multiple features including:
- Seamless document generation that automatically populates data from your CRM
- Configurable and automated workflows to keep agreements flowing
- Centralized collaboration tool to check for changes and approvals, as well as manage versions
- Clause libraries with approved language that increase compliance and minimize risk for users
- Automated reminders for contract renewals and other important dates so your salespeople never miss another deal
- Seamless Salesforce integration to link your quotes and contracts within Salesforce
DocuSign Spring CM also offers multiple integrations to fit various business needs including:
- Microsoft Office 365
- Adobe Document Cloud
- Adobe Sign
- Dell Boomi
- OneSpan Sign
With two different price points for small to medium-sized businesses as well as enterprise-level companies, DocuSign offers two pricing plans:
The Professional Edition, running at $39/user per month is for teams looking to store, create, and send documents and standard sales contracts and offers all of the basic features to generate and review contracts.
The Enterprise Edition that serves larger companies offers all of the basic functions of the professional edition, plus advanced functionality to fully streamline the contract process at just $79 per user, per month.
Agiloft is an all-in-one enterprise contract management solution and comes with multiple features, including:
- Contract authoring
- Contract templates
- OCR file scanning
- Audit logs
- Advanced search and categorization
- Version control
- Email alerts
- Real-time analytics and reports
- Contract lifecycle management
Although it doesn’t have the native e-signature feature, Agiloft does come with a DocuSign integration.
In fact, this software is arguably one of the most feature-dense options on the market. Yet, this can be a downside for small businesses who don’t need this advanced of a feature set.
However, because it has so many features, it’s also easily one of the most customizable contract management systems out there. This makes it a great choice for large enterprise brands and sales teams.
Agiloft is free for up to 10 people (5 employees and 5 users). After that, the professional plan starts at $65 a month per license and comes with essential features like automation and email and phone support.
However, for the Enterprise Edition, you’ll pay $120 per month for each license. Agiloft is also worth looking into if you are a non-profit since non-profit entities will get a discounted rate.
Furthermore, a huge perk of Agiloft is that if you are unsatisfied with the product within 90 days, you’ll be fully refunded. This is due to the program’s success guarantee.
Even if after doing a little reading on Agiloft, you’re not sure you want to commit to a purchase, you can always take advantage of their free trial offer. This will allow you to take the software out for a test ride before deciding whether or not it’s a good fit for your needs.
4. Coupa Contract Lifecycle Management
Like Agiloft, Coupa Contract Lifecycle Management comes with a bevy of customizable features. They include contract authoring, contract templates, audit logs, and advanced search and categorization. Besides, other features include workflow automation, analytics and reports, and both native electronic signatures and a DocuSign integration.
Keep in mind this is not a software program for small and mid-sized businesses. It’s designed for businesses with annual revenue of $75 million or more.
With Coupa Contract Lifecycle Management, you’ll be able to choose between native electronic signatures and a DocuSign integration.
The software includes many different ready-made contract templates, as well as a contract authoring feature. Whereas, other key features of the program include user-friendly search and intuitive categorization, version controls, email alerts, workflow automation, analytics and reports, and API.
5. Contract Safe
Contract Safe is yet another great contract management tool for businesses of sizes looking to eliminate folders and shared drives for contracts and instead use cloud-based software that’s certified and encrypted to keep your data completely secure.
The software comes with all the necessary features such as being able to store and manage contracts, speed search to find what you need, permissions for efficient collaboration, and contract reminders to make your life easier.
Along with those features, Contract Safe also offers integrations with popular software such as DocuSign, Okta/SAML 2.0, and Salesforce to streamline your operations and workflow.
In fact, Contract Safe doesn’t have one, but six pricing plans to choose from to meet a variety of business needs from entrepreneur to full-scale enterprise solutions. See full package options here.
6. Conga Contracts
Conga Contracts truly recognizes that contracts were meant to evolve past the 90s with their intelligent contracts solution that simplify the entire contracting and reporting process. In fact, this contract management software includes essential features such as:
- Contract templates
- Contract lifecycle management
- Document management
- Compliance management
- Completion tracking
- Automated alert reminders
- Full-text search
- Workflow and approvals
- Analytics and reports
Unlike the previously mentioned platforms, Conga does not provide standard pricing options as they offer customizable package solutions based on business needs. In short, you will need to contact Conga directly for a price quote.
However, it is worth mentioning that Conga Contracts does offer a free demo and also allows potential buyers to try out a 30-day free trial of their platform.
LinkSquares isn’t your typical contract management software. Instead, LinkSquares is a truly innovative AI-Powered Contract Analytics Cloud. Certainly, it uses advanced technology to analyze text from contracts to identify key data, content, and liabilities and is perfect for in-house legal and financial teams.
The software comes with several features for those looking to save time manually reviewing contracts such as automated analysis, powerful text search, cloud storage, reporting, and real-time notifications.
Besides, this software isn’t running short on integrations, with LinkSquares you’ll be able to seamlessly integrate with the following platforms:
- Google Drive
- Share Point
- Office 365
- OneDrive for Business
- Azure Storage
- Hello Sign
- Adobe Sign
- Oracle Sales Cloud
- Pipeliner CRM
- Hubspot CRM
- Spring CM
…and many more! Check out the full list here.
Additionally, LinkSquares does offer a free trial, but for detailed pricing information, you will have to request a demo or get in touch with their team.
There you have it…
All in all, selecting the right contract management software that matches your business needs is no easy task with the plethora of options available. It’s no secret that over 80% of clients seek out professional services and marketing, which is why it’s important as ever to compare available options until you find the one that’s a perfect match for your business.
Nonetheless, by scaling your business with innovative contract management software, you’re able to promote happier customers through a more streamlined contracting process, get more sales through omnichannel marketing, and maintain sustainable business practices.