TechDogs-"Top 5 Contract Management Software Of 2022"

Human Resource Technology

Top 5 Contract Management Software Of 2022

By TechDogs Editorial Team

TechDogs
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Overview

What’s the first thing that comes to your mind when you think of the word “contract?” We get the image of a long scroll containing indecipherable clauses with a big underscore at the end where you’re supposed to sign. At least that’s how contracts are depicted in movies and cartoon shows, right?

Well, contracts are actually about much more than that. Their purpose is simple, of course – binding two parties into a legal agreement. However, in the corporate world, Contract Management (CM) is an essential (and finicky!) operation that involves everything from the formulation to the implementation and analysis of terms and conditions that allow both parties to maximize their convenience and performance while minimizing risks. As you might have gathered, it can very easily get messy.

This is precisely why there is a need for an efficient system to help carry out contractual tasks and their maintenance to ensure everything is done smoothly and accurately. That’s where Contract Management Software comes into the picture. We know contact management may sound a bit confusing and overwhelming at the moment but trust us, by the end of this post, you’ll want to draft up 10 contracts right away!

Allow us to take you on a journey that will simplify contract management as we familiarize you with the top 5 Contract Management Software of 2022!
TechDogs-"Top 5 Contract Management Software Of 2022" Wish I Had Some Tools To Manage These Contracts!
Remember Rumpelstiltskin from “Once Upon a Time: (the super-addictive TV series), or perhaps even the old German fairy tale?” If you do, you will surely recall his love for making “deals” and striking up the weirdest contracts.

You know where we’re going with this but we’ll throw it at you all the same...

Rumple’s favorite tool of all time HAD to be Contract Management Software. Given that all he wanted to do was bind people into hard-to-fulfill agreements (a favor for a price, to quote him), such a tool would make his life super simple, right? Of course, he would use it for less-than-perfect purposes but anyways…

The concept of creating and upholding contracts has existed forever; however, it has become a little more tech-savvy over the years. While it is traditional to maintain paper contracts manually through folders and file cabinets, the method is fraught with inefficiencies that can harm an organization's productivity.

Contract Management Software provides an electronic solution to these issues by organizing contracts, agreements and other documents using the software. Contract Management Software can help you draft, implement and track contracts through simple click-based workflows and easy-to-manage electronic calendars. A Gartner report published in 2019 stated that manual effort for contract review will be reduced by 50% by 2024 as the adoption of Contract Management Software rises.

If your work involves dealing with several legally binding agreement documents or contracts (much like Rumple!), we think you’ll find this article quite interesting and helpful. In here, we’ll let you in on our picks for the top 5 Contract Management Software of 2022. Don’t worry, we won’t make you sign a contract before reading, so dive in!
 

Top 5 Contract Management Software Of 2022


Contract Management (CM) is the process of managing legal agreements from their inception to their implementation and finally their termination. CM Software helps automate all of this by accelerating contract review and execution, reducing business risks and improving compliance. These tools offer an electronic approach to solving problems related to paper-based documents such as organizing paperwork, authoring contracts, negotiating terms, redlining errors, managing dates, reporting on compliance and automating several workflows.

In short, they can take the friction out of the entire contract lifecycle almost in a snap! So, let’s dive into the top 5 Contract Management Software used by experts and professionals all over the world!
 
PandaDoc
PandaDoc
DocuSign
DocuSign
Concord
Concord
Juro
J​uro
Agiloft
Agiloft
 

Tool 1: PandaDoc


PandaDoc, founded in 2011, is a firm based in the United States that offers SaaS-based sales and HR process software. It is headquartered in San Francisco, California. Aragon Research named it a "Hot Vendor in Modern Content Management" in 2017 and APPEALIE named it the "Best Overall SaaS Award Winner" in 2020. Some of the 40,00 leading customers of PandaDoc include Autodesk, SGS, Tata Steel, InSync Healthcare and over 50 more big names… #WOW

TechDogs-"Tool 1: PandaDoc "An Image Showing The Dashboard Of PandaDoc
Coming to PandaDoc’s features, it is a low-cost document automation software that’s offered as a service and includes electronic signatures, workflow management, a document builder and CPQ (Configure, Price, Quote) functions. Companies can use this simple software to manage the whole lifespan of their various contracts. It is a low-cost, feature-rich tool that stands out from the crowd, making it a suitable CM solution for businesses of any size.

PandaDoc is an all-in-one document workflow automation platform that enables fast-growing teams to produce, manage, and sign digital documents such as proposals, quotations, contracts and more. Its real-time co-editing capabilities are also transforming contract management. The theme templates make it simple to create each contract. Clients may use the tool to exchange, sign and read papers and contracts online from any device.
 

Tool 2: DocuSign


Did you know that DocuSign has over a million clients and hundreds of millions of users in over 180 countries? Talk about a global presence! It is a startup based in San Francisco, California that helps businesses handle electronic contracts. It provides businesses with low-cost contract management solutions ranging from e-signatures to a comprehensive contract management system. Launched in 2003 as an e-signature startup, its 2018 acquisition of SpringCM paved the way for its contract lifecycle management capabilities. The tool’s signatures comply with the US ESIGN Act and the European Union's eIDAS standards, including EU Advanced and EU Qualified Signatures.

TechDogs-"Tool 2: DocuSign"A Screengrab Of The DocuSign Reports Tab
DocuSign is frequently used by businesses since it is straightforward to use for all parties involved. Its e-signature plans are determined to be optimal for small firms; however, end-to-end solutions are available for contract-heavy operations to enterprises. The software integrates with over 350 pre-built integrations, including Salesforce, Microsoft and Google. What more can you need?

The software stands apart from the crowd by providing a 30-day free trial of its eSignature feature. It also offers benefits like 24/7 chat support, flexible workflow configurations and reusable templates for legal documents and contracts. It helps with recipient reminders, payment collection, real-time comment notifications and content repositories too. #SuperCool
 

Tool 3: Concord


Concord was founded in 2014 to offer straightforward assistance to organizations in staying on top of compliance and adjustments throughout the lifecycle of contracts. Based out of San Francisco, California, it is the best option for large enterprises because of its unlimited capacity and crucial integrations. Bosch, Intel, Johnson & Johnson, Oracle and the Sheraton Group of Hotels are some of the customers that trust Concord for their contract management needs. The software has been awarded the “Top Performer” award in the Fall 2021 Contract Lifecycle Management Software Customer Success Report by FeaturedCustomers.

TechDogs-"Tool 3: Concord"An Image Showing The Analytics Features Of Concord
With its comprehensive onboarding assistance and enterprise-grade functionality, Concord Contract Management Software helps businesses create, manage and share an infinite number of legal documents. Concord provides unlimited contract edits, viewers, e-signatures and storage, as well as bulk upload features on all plans. It also helps with live editing of documents, redlining, commenting template creation and storage, auto-filling of smart fields, full-text optical character recognition (OCR) search, deadline reminders and built-in e-signature functionality. #HowComprehensive

Basically, if you need your whims and fancies honored by the other party and wish to get them to sign on it without delays, a tool like Concord would be just perfect for you. Sort of what Rumplestiltskin wouldn’t say to your face but what he’d be thinking when you’re about to make a deal with him!
 

Tool 4: Juro


Juro, which was founded by Richard Mabey and Pavel Kovalevich in 2016, provides a visually attractive dashboard with powerful search features and AI-enabled statistics to manage contracts in the easiest way possible. In-house legal and business teams can use this software to develop, approve, sign and manage contracts all in one place. It was named a Leader by G2 in Fall 2022 for Ease of Setup.

TechDogs-"Tool 4: Juro"A Screenshot Of The Juro Dashboard
Although there are subscription plans for Juro with paid features, the free version of the software has an ideal combination of fundamental features making it our top pick for the best Contract Management Software. This comprehensive contract management tool provides exceptional functionality, which is quite contrary to Rumplestiltskin’s thinking that nothing good comes for free. If ya want something, ya gotta pay the price for it, dearie!

Juro is an all-in-one contract automation platform that comes with a bunch of benefits. For example, allowing native e-signature and being intuitive to use makes the workflow streamlined. Its free plan allows edits for up to 50 contracts a year as well as one template, a seamless template editor, internal commenting, external negotiation and a Kanban dashboard. The creation, execution and management of contracts can be done at scale with this tool! #Amazing
 

Tool 5: Agiloft


Agiloft offers code-free contract and commerce lifecycle management tools to businesses. It is the list's oldest CM business, having been founded in 1991. However, it has stayed current with several modifications, providing enterprises with customized solutions with its commitment to success. Agiloft has bagged multiple awards including “Editors’ Choice” five years consecutively by PC Magazine and “Contract Management Platform of the Year 2021” by LegalTech Breakthrough Awards and many more.

TechDogs-"Tool 5: Agiloft"An Image Of The AgiLoft Dashboard
Agiloft is an E-Signature and Contract Lifecycle Management tool that provides various features through its 99.9% uptime service level agreement (SLA). It also boasts an open-ended free trial. With this tool, you also get access to contract authoring, clause library, contract print templates, eSignature via Adobe Sign and a content repository to store contracts.

The tool is very easy to set up and uses scalable technologies to support any contract management processes such as creation, approval, etc. With its integrated workflows, email alerts and one-click contract generation the tool will streamline contract management for any business! It is also fully audit-compliant with support for laws such as HIPAA, GDPR, SOX, and CFR21.
 

Summing It Up


Contract management can make your life simpler, save you money and provide insight into areas you've never considered before. However, it all begins with selecting a qualified tool that will support your objectives and goals. Businesses can solve contractual issues to ensure hassle-free contract drafting, acceptance by all involved parties, tracking validity based on duration and purpose as well as upholding risk mitigation measures in case of non-compliance with the contract.

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