Top 22 IT Contract Management Software Of 2024
10 Best IT Contract Management Software
Here's my pick of the 10 best software from the 22 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Navigating the world of IT contracts can be daunting, and I understand the challenges you face. From tracking renewals to ensuring compliance, the management of contracts is a critical yet complicated process. IT contract management software streamlines the contract lifecycle by centralizing all contract-related documents, tracking obligations, and automating workflows.
I have handpicked a selection of the best contract management software, each with its unique selling proposition, to help you choose the best fit for your needs.
What Is An IT Contract Management Software?
An IT contract management software is a specialized platform designed to oversee the creation, storage, execution, and monitoring of IT-related contracts. Typically used by legal teams, procurement professionals, and IT managers, this software aims to streamline the complexities associated with IT contracts.
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These complexities range from compliance with legal requirements and service level agreements to automatic renewals and performance tracking. IT contract management software helps businesses maintain positive vendor relationships, reduce legal risks, and achieve better financial outcomes by automating many tedious and error-prone tasks.
Best IT Contract Management Software Summary
| Tools | Price | |
|---|---|---|
| Juro | Pricing upon request | Website |
| Agiloft | From $45/user/month (billed annually) | Website |
| Evisort | From $20/user/month | Website |
| ContractSafe | From $299/user/month | Website |
| Conga Contracts | From $35/user/month (billed annually) | Website |
| SpotDraft | From $7/user/month (billed annually) | Website |
| Contract Logix | From $25/user/month (billed annually) | Website |
| Hyperstart | Pricing upon request | Website |
| Cobblestone Software | From $59/user/month (min 5 seats, billed annually) | Website |
| Sirion | Pricing upon request | Website |
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Compare SoftwareBest IT Contract Management Software Reviews
Juro is a contract automation platform that facilitates legal contract creation, negotiation, and management. It offers real-time editing and collaboration capabilities, particularly useful for teams working on contracts together.
Why I Picked Juro:
I chose Juro for this list primarily due to its strong focus on real-time collaboration during the contract drafting and negotiation stages. This aspect distinguishes it from many other contract management tools that lack robust real-time collaboration features. In this respect, Juro is the best tool for teams requiring real-time editing and collaborative functionalities in contract management.
Standout Features and Integrations:
Juro's real-time commenting and editing functionalities allow multiple users to simultaneously work on a single contract. It also offers Kanban-style workflow boards to visualize the contract lifecycle. As for integrations, it supports Slack for in-the-moment updates, Google Drive for storage, and Salesforce for a more extensive customer relationship management setup.
Pros and cons
Pros:
- Support for popular integrations like Slack, Google Drive, and Salesforce
- Kanban-style workflow boards for tracking contract stages
- Real-time editing and commenting capabilities for multiple users
Cons:
- Focuses more on contract creation and negotiation, potentially limiting post-execution management features
- Annual billing may lack flexibility for some users
- Requires a minimum of 5 seats, which might be unsuitable for very small teams
Agiloft is a contract management software that provides an end-to-end solution for contract creation, execution, and management. Its emphasis on no-code customization makes it particularly suitable for businesses looking for a highly adaptable contract management platform.
Why I Picked Agiloft:
I selected Agiloft for inclusion in this list because its no-code customization capabilities make it highly adaptable to various business needs. Compared to other contract management tools that require coding skills for deep customization, Agiloft offers a distinct advantage. This adaptability makes it the best tool for businesses prioritizing no-code customization in their contract management process.
Standout Features and Integrations:
Agiloft excels in customizable workflows, automated approval processes, and an adaptable user interface. It allows businesses to set up contract management processes precisely according to their needs. Agiloft is compatible with Salesforce, Jira, and Microsoft Office on the integration front, facilitating a more comprehensive business workflow.
Pros and cons
Pros:
- Automated approval processes for efficient contract management
- Robust integration capabilities with Salesforce, Jira, and Microsoft Office
- Highly customizable without the need for coding
Cons:
- Billed annually, which may not suit all budget timelines
- Pricier starting cost compared to other platforms
- The learning curve may be steep due to the extensive customization options
Evisort is a contract lifecycle management software that integrates artificial intelligence for advanced contract analytics. Its AI capabilities make it particularly adept at extracting actionable insights from contracts, fitting precisely with its 'best for leveraging AI in contract analytics' tagline.
Why I Picked Evisort:
I selected Evisort for this list based on its strong focus on using AI to improve contract analytics. After comparing a range of CLM solutions, it became clear that Evisort has a distinctive edge in this specialized area. That's why I judge it to be the 'best for leveraging AI in contract analytics.'
Standout Features and Integrations:
Evisort's AI-powered analytics allow for in-depth review and monitoring of contract terms, milestones, and renewals. Its secure contract storage with permissions-based access ensures that sensitive documents are safeguarded. In terms of integrations, Evisort works well with document management tools like DocuSign and also offers API integration for in-house software solutions.
Pros and cons
Pros:
- Provides robust, permissions-based secure contract storage
- Integrates with popular document management platforms like DocuSign
- AI-driven analytics yield deep insights into contract terms and performance
Cons:
- Requires a minimum of 5 seats, potentially limiting smaller teams
- Focus on AI analytics may be overkill for simpler contract management needs
- Higher pricing may be a barrier for smaller businesses
Best for secure online storage and easy retrieval of contracts
ContractSafe is a contract management platform that focuses on secure online storage and easy retrieval of contracts. It's designed for organizations that need a reliable, secure system for archiving contracts and locating them quickly when needed.
Why I Picked ContractSafe:
I chose ContractSafe for this list mainly because of its strong emphasis on security and quick retrieval functionalities. Compared with other tools, it offers advanced encryption and robust search features. These aspects make it best for businesses needing a secure and user-friendly contract repository.
Standout Features and Integrations:
ContractSafe offers high-grade encryption for all stored contracts and allows for quick retrieval with its robust search engine that can search even within the text of scanned documents. Although it does not offer a wide range of third-party integrations, it provides necessary API access for custom connections.
Pros and cons
Pros:
- API access for custom integrations
- Advanced search engine that can locate text within scanned documents
- High-grade encryption for secure storage
Cons:
- Minimum of 5 seats required, making it less suitable for very small teams
- Limited range of third-party integrations
- Higher price point, potentially making it less accessible for small businesses
Best for Salesforce integration for contract management
Conga Contracts offers a comprehensive contract management platform with a specific focus on Salesforce integration. This tool facilitates streamlined contract management for businesses that heavily rely on Salesforce for CRM and other processes.
Why I Picked Conga Contracts:
I chose Conga Contracts for this list due to its superior Salesforce integration capabilities. Compared to other tools, it offers more native functionalities specifically designed for Salesforce users. Hence, it is an excellent tool for businesses explicitly focusing on a robust contract management system deeply integrated with Salesforce.
Standout Features and Integrations:
The tool offers critical features like contract creation, compliance tracking, and electronic signatures. Its integration with Salesforce includes syncing of contract data and extends to Salesforce CPQ and other Salesforce Clouds for a more comprehensive business process.
Pros and cons
Pros:
- Extensive support and training resources available
- Features like compliance tracking and electronic signatures
- Native Salesforce integration for contract data and processes
Cons:
- Complexity can require more time for staff training
- Annual billing could be less flexible for some businesses
- May offer more than needed for non-Salesforce users
Best for small businesses needing simple yet robust contract management
SpotDraft is a contract lifecycle management (CLM) software tailored for small businesses. It efficiently manages contract authoring, renewals, and other milestones, aligning well with the requirements of small enterprises for simple yet robust contract management.
Why I Picked SpotDraft:
I selected SpotDraft because it successfully meets the distinct needs of small businesses, making it a compelling choice in a market filled with other CLM software options. In my opinion, SpotDraft stands out due to its focus on simplicity combined with essential features, aligning perfectly with its 'best for small businesses' unique selling proposition.
Standout Features and Integrations:
SpotDraft offers automated workflows that can aid in speeding up the process of drafting and executing business contracts. Additionally, its drag-and-drop interface makes the authoring process straightforward. Important integrations include platforms like DocuSign and Adobe Sign, offering added convenience in e-signing and document management.
Pros and cons
Pros:
- Drag-and-drop features make contract authoring easier
- Automated workflows streamline the contract management process
- Integrates with key platforms such as DocuSign and Adobe Sign
Cons:
- Primarily supports iOS, which could be a limitation for non-iOS users
- Newer in the market when compared to established players like ContractWorks or Concord
- May not be suitable for larger enterprises with more complex contract management needs
Best for enterprises requiring customizable contract workflows
Contract Logix is a tool tailored to enterprises, offering them the capability to create and manage contracts with customizable workflows. This customizability enables large businesses to adapt the platform to their intricate requirements, aligning with its recognition as 'best for enterprises requiring customizable contract workflows'.
Why I Picked Contract Logix:
I selected Contract Logix after judging its adaptability and ability to offer tailored solutions for managing contracts. Its standout quality is the customization it offers, making it an attractive choice for enterprises with diverse and complex workflow needs. This is the primary reason I determined it to be 'best for enterprises requiring customizable contract workflows.'
Standout Features and Integrations:
Contract Logix's most significant features revolve around its deeply customizable nature. Users can mold the platform according to their specific requirements, ensuring an efficient contract management process. For integrations, Contract Logix is compatible with many mainstream enterprise solutions, allowing businesses to synchronize data and processes.
Pros and cons
Pros:
- Integrates with a broad range of enterprise tools
- Efficient in managing contracts of varying complexities
- Highly customizable to suit intricate enterprise workflows
Cons:
- Higher starting price compared to some other tools
- Requires some initial setup and customization effort
- Might be overwhelming for smaller businesses due to its extensive features
Best for automating entire contract workflows and AI extraction
HyperStart is a contract management platform designed to help businesses create, manage, and track their contracts efficiently. It offers a digital workspace where your team can collaborate, share documents, and track contract progress in real-time.
Why I Picked HyperStart:
For IT teams handling complex contracts, HyperStart offers several features to make the process smoother. Its automated contract generation allows you to create IT agreements quickly, pulling in necessary legal clauses and requirements based on templates you set up. The digital signature feature ensures that you can get contracts signed without the back-and-forth of traditional paperwork, speeding up the approval process. Additionally, HyperStart’s centralized dashboard gives you an overview of all your ongoing contracts.
Standout Features and Integrations:
Other features include contract renewal reminders that help you stay on top of expiring agreements. You can also use HyperStart’s advanced search tool to find contracts by keyword or phrase, making it easy to pull up important details. Plus, its version control feature tracks changes made to contracts, so you’ll always know who edited what and when. Integrations include Gmail, Salesforce, Microsoft SharePoint, Google Drive, DocuSign, AdobeSign, One Drive, Slack, and Microsoft Outlook.
Pros and cons
Pros:
- AI-repository helps extract all standard clauses and other metadata
- Automatic contract renewals
- AI-assisted contract review and redlining
Cons:
- Mobile capabilities are less robust than desktop
- Configuration for specific needs can be complex
CobbleStone Software is designed to manage contracts from initiation to renewal and even termination. Its full suite of features covers every aspect of the contract lifecycle, aligning it well with businesses that require comprehensive lifecycle contract management.
Why I Picked CobbleStone Software:
I chose CobbleStone Software because of its all-encompassing approach to contract management. Unlike some platforms that focus only on creation or execution, CobbleStone covers every phase. This breadth of capabilities is why it's the best choice for businesses looking for comprehensive lifecycle contract management.
Standout Features and Integrations:
CobbleStone's key features include automated approval workflows, advanced searching and reporting, and electronic signatures. It also offers AI-based clause recognition, which aids in risk management. CobbleStone is compatible with popular software like Salesforce, Microsoft Dynamics, and SAP for integrations, allowing a smooth data flow across different business processes.
Pros and cons
Pros:
- Integrates well with key business software like Salesforce and Microsoft Dynamics
- Advanced search and reporting features for better data insights
- Complete coverage of the contract lifecycle
Cons:
- Billed annually, which may not align with all budgeting cycles
- Requires some training to fully utilize its broad feature set
- Higher starting price point and minimum seat requirement may not suit smaller businesses
Sirion is a CLM software specialized in IT contract oversight, ensuring both compliance and efficient performance tracking. Given the unique challenges of IT contracts, Sirion's tailored approach makes it a go-to for businesses wanting in-depth insights into their tech agreements.
Why I Picked Sirion:
When determining which CLM solutions to highlight, Sirion captured my attention with its niche focus on IT contract management. Having assessed various tools, I found that Sirion's commitment to addressing IT-specific contract challenges differentiated it from others. This is precisely why I consider it 'best for IT contract compliance and performance tracking'.
Standout Features and Integrations:
Sirion excels in automated workflows tailored to IT contracts, ensuring compliance and simplifying the management of intricate tech agreements. Its drag-and-drop workspace facilitates intuitive contract authoring, while its performance tracking mechanisms ensure businesses stay on top of their IT agreements. Integration-wise, Sirion complements other platforms, notably with its compatibility with document management tools like DocuSign and Adobe Sign.
Pros and cons
Pros:
- Offers performance tracking to monitor IT contract deliverables
- Integrates effectively with DocuSign and Adobe Sign
- Specialized features tailored for IT contract management
Cons:
- Not as established as generalist CLM solutions like ContractWorks or Concord.
- Potentially a steeper learning curve for those unfamiliar with IT-specific contracts
- May be too niche for businesses seeking general contract management
Other IT Contract Management Software
Below is a list of additional IT contract management software that we shortlisted, but did not make it to the top 10. These are definitely worth checking out.
- Trackado
For budget-friendly contract tracking and alerts
- Icertis Contract Management
For scalability and global contract operations
- PandaDoc
For digital signatures and quick contract execution
- Gatekeeper
Good for vendor and contract management automation
- Proposify
Good for creating visually impressive contracts and proposals
- GetAccept
Good for personalized contract and proposal presentations
- Outlaw
Good for simplifying complex contract workflows
- ContractPodAi
Good for AI-powered contract analytics
- Strategic Sourcing Software
Good for end-to-end sourcing and procurement needs
- Contract Corridor
Good for scalable contract management for SMEs
- Intellect
Good for integrating contract management with quality management systems
- LinkSquares
Good for advanced contract language search and analysis
Selection Criteria For Choosing IT Contract Management Software
Choosing the right contract management software can be overwhelming, given the multitude of options available. I've evaluated dozens of such tools, focusing on specific criteria that are most important for anyone in search of a reliable contract management solution.
Core Functionality
- Contract Creation: Enables you to draft new contracts with ease.
- Contract Repository: A secure place to store all your contracts for easy retrieval.
- Approval Workflows: Allows for setting up multi-stage approval processes.
- E-Signature Support: Offers digital signing capabilities.
- Reporting and Analytics: Provides insights into contract performance and compliance.
Key Features
- Template Library: Offers a collection of industry-standard contract templates.
- Clause Management: Allows clause libraries and real-time editing to standardize language across contracts.
- Version Control: Keeps track of all versions of a contract for auditing purposes.
- Notifications: Sends timely reminders for key dates like renewals or compliance deadlines.
- Role-Based Access: Ensures that only authorized individuals can view or edit specific contracts.
Usability
- Intuitive Interface: The software should offer a dashboard allowing users to navigate to essential functions within a few clicks.
- Easy Onboarding: A well-designed tutorial or learning library to help new users get acquainted with the platform quickly.
- Search Functionality: Advanced search options, including keyword and clause searches, to quickly locate specific contracts or clauses.
- Customer Support: Prompt and effective customer service, available through multiple channels like email, phone, and chat.
Understanding these criteria can significantly simplify choosing the right contract management software that aligns well with your needs.
Most Common Questions Regarding IT Contract Management Software (FAQs)
What are the benefits of using IT contract management software?
Using IT contract management software can provide several advantages:
- Streamlined Contract Processes: Automates various stages of the contract lifecycle, reducing manual workload.
- Centralized Repository: Provides a single location for storing all contract-related documents, making them easier to manage and retrieve.
- Enhanced Compliance: Helps organizations stay compliant with various regulations by tracking and alerting them about deadlines and requirements.
- Improved Collaboration: Allows multiple stakeholders to work on the same document, with role-based access controls and audit trails.
- Better Decision-Making: Reporting and analytics features can offer valuable insights into contract performance and areas for improvement.
How much do these tools generally cost?
IT contract management software costs vary widely based on functionality, the number of users, and additional services like customer support or training. Prices could range from as low as $25/user/month to as high as $200/user/month or more for enterprise solutions.
What are the standard pricing models?
Most IT contract management software providers offer several pricing models, including:
- Per User Pricing: A fee is charged for each user who needs access to the software.
- Feature-Based Pricing: The cost depends on the features or modules you want to include.
- Enterprise Pricing: Custom pricing for large organizations with specific needs.
What is the typical range of pricing?
Small to mid-sized businesses can expect to pay anywhere from $25 to $100 per user per month. Enterprise-level solutions can go well beyond that, sometimes reaching upwards of $200 per user per month.
Which are the cheapest and most expensive options?
The cheapest options often start around $25/user/month, like some basic plans from vendors such as PandaDoc or Contractbook. The most expensive options, geared towards enterprises with complex needs, like Icertis or Apttus, can go up to $200/user/month or more.
Are there any free tool options?
Yes, some tools offer free plans with limited features. For example, PandaDoc offers a free plan that includes essential document uploading and e-signatures. However, these free plans are generally suitable only for individuals or tiny businesses with minimal contract management needs.
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Summary
Choosing the right IT contract management software is crucial for streamlining your contract processes, ensuring compliance, and enhancing stakeholder collaboration. This buyer's guide has evaluated various tools with different strengths and pricing models to help you make an informed decision.
Key Takeaways
- Functionality matters: Always consider the core functionalities you require. Whether it's automation of contract creation, a centralized repository, or robust analytics, choose a tool that aligns with your organizational needs.
- Pay attention to usability: A tool is only as good as its user interface. Consider the learning curve, ease of onboarding, and customer support when choosing. Software that allows for easy configuration of role-based access and offers strong customer support often stands out.
- Understand pricing models: Costs can vary widely, so understanding the pricing model is essential. Are you paying per user or for the features you choose? Also, consider any additional costs like training or setup fees.
By keeping these takeaways in mind, you'll be better equipped to select an IT contract management software that best fits your organization's requirements.
What Do You Think?
I hope this guide has been helpful in your search for the right IT contract management software. If there are any tools you think should be on this list but aren't, I invite you to share your recommendations. Your input can be invaluable for others facing the same decision. Thank you for reading, and best of luck in your selection process.