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Contract Management Software


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Conga Novatus Contract Management logo
 
Conga Novatus Contract Management software is a solution designed to help businesses generate, track, maintain and report on important business contracts. Conga Novatus Contract Management solution automates the CLM process from creation... Read More
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Conga Novatus Contract Management software is a solution designed to help businesses generate, track, maintain and report on important business contracts. Conga Novatus Contract Management solution automates the CLM process from creation... Read More
 
Contract Insight Contract Management logo
 
Contract Insight is a contract lifecycle management solution developed by CobbleStone Systems. It can be deployed either on the customer’s premises (with perpetual licensing) or in the cloud (with monthly subscription licensing). Contract... Read More
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Contract Insight is a contract lifecycle management solution developed by CobbleStone Systems. It can be deployed either on the customer’s premises (with perpetual licensing) or in the cloud (with monthly subscription licensing). Contract... Read More
 
SAP - SCM logo
 
Over 30,000 companies, spanning 120 different countries, are using SAP ERP Financials to conduct their financial management. Noteworthy names include General Mills and Office Max. SAP ERP Financials is a part of SAP’s Business Suite,... Read More
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Over 30,000 companies, spanning 120 different countries, are using SAP ERP Financials to conduct their financial management. Noteworthy names include General Mills and Office Max. SAP ERP Financials is a part of SAP’s Business Suite,... Read More
 
ShippersEdge logo
 
For companies looking for a simple, budget-friendly TMS solution, ShippersEdge is a web-based, highly scalable route optimization system that manages shipping logistics from beginning to end across the entire enterprise. ShippersEdge... Read More
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For companies looking for a simple, budget-friendly TMS solution, ShippersEdge is a web-based, highly scalable route optimization system that manages shipping logistics from beginning to end across the entire enterprise. ShippersEdge... Read More
 
Coupa Cloud Spend Management logo
 
Coupa Cloud Spend Management combines deep knowledge of e-procurement and expense management with a cutting-edge cloud computing architecture to help businesses spend smarter and save more. It brings industry leading innovations in... Read More
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Coupa Cloud Spend Management combines deep knowledge of e-procurement and expense management with a cutting-edge cloud computing architecture to help businesses spend smarter and save more. It brings industry leading innovations in... Read More

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Oracle SCM Cloud logo
 
Oracle SCM Cloud offers a full suite of applications for companies to manage their supply chain, distribution, manufacturing, inventory management, and fleet.  Using product development, users can create a detailed bill of material... Read More
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Oracle SCM Cloud offers a full suite of applications for companies to manage their supply chain, distribution, manufacturing, inventory management, and fleet.  Using product development, users can create a detailed bill of material... Read More
 
Microsoft Dynamics 365 logo
 
Microsoft Dynamics 365 provides integrated solutions that allow businesses to better track leads, automate field service, drive sales and improve operations using mobile, enterprise-ready business apps from the cloud. The system's... Read More
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Microsoft Dynamics 365 provides integrated solutions that allow businesses to better track leads, automate field service, drive sales and improve operations using mobile, enterprise-ready business apps from the cloud. The system's... Read More
 
Verian by Basware Procurement logo
 
Verian by Basware Procurement Software helps companies buy and pay for goods and services in a simplified, paperless, and cost efficient way. The solution allows companies to see everything that’s being ordered, purchased, and received, automate... Read More
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Verian by Basware Procurement Software helps companies buy and pay for goods and services in a simplified, paperless, and cost efficient way. The solution allows companies to see everything that’s being ordered, purchased, and received, automate... Read More
 
ContractWorks logo
 
ContractWorks is a contract management solution designed to address the approval, tracking, and management of contracts.  ContractWorks features a centralized system for contracts, tracking and notifications for key milestone dates.... Read More
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ContractWorks is a contract management solution designed to address the approval, tracking, and management of contracts.  ContractWorks features a centralized system for contracts, tracking and notifications for key milestone dates.... Read More
 
Contract Logix Contract Lifecycle Management (CLM) logo
 
Contract Logix Contract Lifecycle Management (CLM) software is a modular contract management solution. It offers features such as workflow automation tools, electronic document repository, advanced search options, contract creation... Read More
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Contract Logix Contract Lifecycle Management (CLM) software is a modular contract management solution. It offers features such as workflow automation tools, electronic document repository, advanced search options, contract creation... Read More

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DocMinder Contract Management logo
 
Word-Tech’s DocMinder is a hosted or on-premise task management program that uses clients’ existing email systems to automate delegation and provide oversight with calendars and reporting. DocMinder manages the contract process... Read More
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Word-Tech’s DocMinder is a hosted or on-premise task management program that uses clients’ existing email systems to automate delegation and provide oversight with calendars and reporting. DocMinder manages the contract process... Read More
 
BravoAdvantage logo
 
BravoAdvantage is a procurement platform provided by BravoSolution that integrates upstream and downstream procurement processes. The platform includes supplier value management, spend analysis, sourcing, contract lifecycle management,... Read More
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BravoAdvantage is a procurement platform provided by BravoSolution that integrates upstream and downstream procurement processes. The platform includes supplier value management, spend analysis, sourcing, contract lifecycle management,... Read More
 
Gatekeeper logo
 
Gatekeeper is a cloud-based vendor and contact management solution. Key features include automated alerts, customization and collaboration tools and integrations with other software.   Users can manage contracts and vendor information,... Read More
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Gatekeeper is a cloud-based vendor and contact management solution. Key features include automated alerts, customization and collaboration tools and integrations with other software.   Users can manage contracts and vendor information,... Read More
 
Kenandy Cloud ERP logo
 
Kenandy is a comprehensive cloud-based ERP solution created for companies that design, manufacture, or distribute products. It helps businesses manage core processes including order-to-cash, planning and production, procurement, TPM,... Read More
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Kenandy is a comprehensive cloud-based ERP solution created for companies that design, manufacture, or distribute products. It helps businesses manage core processes including order-to-cash, planning and production, procurement, TPM,... Read More
 
Supply Chain Planning & Optimization logo
 
Quintiq's best-of-breed Supply Chain Planning & Optimization is a scalable solution for any size organization seeking to manage every part of their contract lifecycle.
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Quintiq's best-of-breed Supply Chain Planning & Optimization is a scalable solution for any size organization seeking to manage every part of their contract lifecycle.

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Tradogram logo
 
Tradogram is cloud-based procurement management software with six applications included one platform. Key features include supplier management, contract management, strategic sourcing, spend control and order management. Team managers... Read More
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Tradogram is cloud-based procurement management software with six applications included one platform. Key features include supplier management, contract management, strategic sourcing, spend control and order management. Team managers... Read More
 
Apprise logo
 
Apprise offers organizations an enterprise resource management (ERP) and supply chain management solution developed for consumer goods manufacturers, importers and distributors. It is suitable for companies operating internationally... Read More
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Apprise offers organizations an enterprise resource management (ERP) and supply chain management solution developed for consumer goods manufacturers, importers and distributors. It is suitable for companies operating internationally... Read More
 
BlueCherry logo
 
BlueCherry is an enterprise resource planning (ERP) suite featuring modules for omnichannel planning, product lifecycle management (PLM), shop floor control, logistics, e-commerce, finance and electronic data interchange. It is suitable... Read More
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BlueCherry is an enterprise resource planning (ERP) suite featuring modules for omnichannel planning, product lifecycle management (PLM), shop floor control, logistics, e-commerce, finance and electronic data interchange. It is suitable... Read More
 
Asentex Contract Management logo
 
Asentex Contract Management provides a cloud-based and on-premise solution for organizations of various sizes including departments within large enterprises. This software is a fit for an extensive range of industries, which include... Read More
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Asentex Contract Management provides a cloud-based and on-premise solution for organizations of various sizes including departments within large enterprises. This software is a fit for an extensive range of industries, which include... Read More
 
E2Open logo
 
Founded in 2000, E2Open, Inc. offers cloud-based end-to-end supply chain management (SCM) software solutions that include process management, planning and response, cloud connectivity and analytics.  The E2Open Supply Management... Read More
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Founded in 2000, E2Open, Inc. offers cloud-based end-to-end supply chain management (SCM) software solutions that include process management, planning and response, cloud connectivity and analytics.  The E2Open Supply Management... Read More
 

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: September 19, 2017


Choosing a contract lifecycle management (CLM) solution for small and midsize businesses (SMBs) can be a challenge, especially when there are so many options available on the market. It’s important to understand in detail all the features, deployment models and market trends before finalizing your software purchase decision. For that reason, we’ve created this buyer’s guide to help you choose the right CLM solution for your organization.

Here's what we'll cover:

What Is Contract Lifecycle Management Software?
Common Features of Contract Lifecycle Management Software
Evaluating Contract Lifecycle Management Software
Deployment Models and Pricing
Market Trends to Understand

What Is Contract Lifecycle Management Software?

Contract management lifecycle software organizes the complex and detailed contractual negotiation process between buyers and suppliers. These solutions typically manage the entire lifecycle of a contract, from initial request for proposal (RFP) to eventual renegotiations. Gaining full control of the contractual process allows users to not only reduce supplier risk, but also to gain increased insight into contracts—creating strategic negotiation opportunities and improved cash flow.

CLM software solutions have proven to be a must-have tool for managing efficient workflows. These solutions help streamline processes for sales, procurement, legal, operations and finance professionals. With more organized workflows, managers can focus on key performance areas and reduce the need for constant follow-ups. These systems also give users the capability to create personalized contracts with their clients.

These software systems range from applications that exclusively manage vendor contracts to robust suites that also include sourcing, bidding and procurement functionality. Many of these solutions also integrate with other supply chain, accounting and enterprise resourcing planning (ERP) systems.

Common Features of Contract Lifecycle Management Software

By automating and simplifying contract acquisition and maintenance, users can ensure consistent contractual language, regularly maintained buy-cycles and sound financial planning. Users can also take advantage of notification systems that help identify opportunities to improve contract alignment. The result is a smoother acquisition process, higher supplier retention and reduced contractual risk that can lead to better cash management practices.

Specific features of CLM solutions include the following:

Compliance assurance Automation assures users that contractual negotiations meet compliance regulations. Additional company and industry-specific compliance protocols can be added as necessary.
Contract creation and automation These systems often include new contract templates that can easily be exported to Microsoft Word or other document creation programs. Additionally, future contracts can be automatically sent through the user’s predefined workflow.
Approval management The approval process goes through many hands. These solutions enable the next-in-line to receive automated notifications that the contract is ready for their approval—speeding up the process greatly.
Notifications and alerts These systems allow users to construct both broad and long-tail notification parameters for renewal dates, expiration dates and other renegotiation opportunities. Alerts can be delivered within the system or sent directly to a user’s email address.
Ad hoc reporting Reporting features allow users to find additional opportunities to improve contractual terms. Reports can be generated based on search queries or specific contracts.
Accounting and ERP integration Oftentimes, these systems integrate directly with accounting and ERP solutions to maintain accurate cash flow data, as well as aid in financial forecasting.

Evaluating Contract Lifecycle Management Software

Analyst firms have consistently found that streamlined CLM is a best practice for companies looking to reduce supplier risk. Regulation of the contract lifecycle allows users to gain increased visibility and reduce this risk, as well as discover contract improvement opportunities.

When evaluating CLM systems, these questions can help determine if the solution fits your needs:

  • Do you need an on-premise deployment or cloud-based, software-as-a-service (SaaS) solution?
  • Do you negotiate contracts internationally? Many regions and governing bodies have unique regulations for contracts and proposals. Your chosen solution needs to comply accordingly.
  • In addition to CLM, do you need this system to include procurement and sourcing functionality? What other features does this system require to fit your supply chain needs?
  • Will the system need to integrate with existing solutions? Is integration with accounting, ERP or other supply chain software necessary?

Deployment Models and Pricing

CLM software is generally available in two separate deployment models, which tend to have different pricing structures:

Cloud-based. Cloud-based CLM software is hosted on the vendor’s servers and is typically priced as a SaaS model, meaning that users pay a monthly or annual subscription fee that is usually based on the number of users.

On-premise. On-premise CLM software is hosted on the user’s own servers. This type of deployment usually costs a flat, upfront fee to use the software indefinitely, though there may be recurring support and maintenance fees on an yearly basis. The upfront fee is also typically based on the number of users on the system, as this type of software is sold in the form of licenses per person.

Market Trends to Understand

The CLM software market is gradually evolving as business executives realize the benefits of implementing a CLM solution. Buyers are looking for a solution that both fits their budget and meets the needs of their small business. Here are the primary trends influencing the CLM software market:

Digitization of paper contracts. Organizations are moving on from paper to digitized documents for faster processing of contracts. Also, digitized documentation help in reducing overhead paper and printing costs. E-signature functionality enables executives to swiftly approve documents while fulfilling all compliance requirements. Advanced CLM software helps users monitor contracts in real time and sends alerts for pending documents with upcoming deadlines.

Increased adoption of cloud-based software. Cloud-based software provides agility to businesses by reducing the upfront investment of licensing fees. This model suits the requirements of small businesses, as it incurs only operational expenditures. Furthermore, online platforms require minimal hardware infrastructure and could be more secure than on-premise solutions for small businesses operating on a limited budget.

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Ten Steps Guide to Selecting the Right SCM Software

 

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