Best Contract Management Software of 2026

Here's what we'll cover:

• What you need to know about contract management software

• What is contract management software?

• Essential features of contract management software

• Benefits and competitive advantages of using contract management software

• How to choose the best contract management software for your business

• Software related to contract management

• More resources for your contract management journey

What you need to know about contract management software

Contract management software (CMS) is designed to support the creation, negotiation, execution, and monitoring of contracts, enhancing business efficiency and compliance. In the past two years, we've spoken to 143 contract management software buyers to help them find the right tool. [1]

To give you an idea of the market, our site features over 420 different contract management software vendors, and we’ve published more than 11,090 reviews of contract management products in the past two years. Nearly half (49%) of the reviews come from small businesses with 50 or fewer employees. [2]

Most contract management products on the market are priced on a “per-month” basis, and their entry-level pricing plans start as low as $7 per month or up to $99+ per month, depending on various factors such as the number of users, templates, AI capabilities, training options, deployment method, and storage. [3] Of the over 600 content management software buyers who’ve contacted us in the past year, 40% are budgeting less than $50.

According to Mathew Kerbis, a national award-winning lawyer and legal software expert, not all contract management software is designed the same way. “There are broadly two different versions of CMS. Ones where you ‘bring your own documents’ and then ones that are the document database solutions. And then there's a combination of those solutions.” 

First-time buyers of contract management software should start by considering their document needs, budget, number of users, contract volume, and required integrations. Work with key stakeholders to create a list of questions to assess systems based on your needs, such as:

• Does the software provide automation for contract workflows?

• Are contract templates and clauses customizable?

• Can the system handle necessary data migrations?

• Does it integrate with our existing tools and platforms?

With numerous vendors available, selecting the right contract management software can be overwhelming. This guide will help you understand the features and benefits of contract management solutions and provide step-by-step guidance for choosing the best fit for your business. If you prefer to talk with an advisor, contact us to schedule a consultation.

What is contract management software? 

Contract management software (CMS) is a digital solution designed to streamline and automate the entire contract lifecycle, from creation and negotiation to execution and renewal. CMS tools provide a centralized platform for storing and managing contracts, making sure that stakeholders have access to the most current and accurate information. By digitizing contract processes, businesses can reduce the time and resources spent on manual contract management tasks, improving overall efficiency and compliance.

Many systems offer artificial intelligence (AI) enhanced features for document creation and updating, saving users hours of manual work. For example, most lawyers aren’t drafting contracts from scratch, and Kerbis says, “looking at how fast businesses are moving, a lawyer shouldn’t be spending three hours writing a contract. With AI’s help, you can cut that down to just minutes.”

Our analysis of 974 user reviews from the past year shows that a key benefit of contract management software is its ability to enhance client management by organizing and tracking client agreements and communications. This helps businesses maintain strong client relationships and proactively manage contract renewals and amendments.

Based on our advisors' conversations with contract management software buyers over the past two years, the industries that most commonly use contract management software are professional services, construction and engineering, healthcare, and manufacturing.

Essential features of contract management software

When comparing document management software to choose the best system for your business, it's important to know what features you can expect to see. Some functionalities, like contract drafting and document management, are core features available in every DMS. Other features, such as electronic signature and customizable fields and templates, are commonly offered. We analyzed thousands of reviews and spoke to hundreds of buyers to determine what we believe are core features of DMS software.

Core contract management features

Common contract management features

Benefits and competitive advantages of using contract management software

Our analysis of 974 user reviews from the past year shows that client management, user interface (UI) design, document signing, project management, and workflow automation are the top-rated benefits of contract management software. 

• Client management: Enhances contract-related interactions by efficiently organizing and tracking client agreements and communications, making sure that all client data is accessible and up-to-date. For example, the system can automatically notify account managers of upcoming contract renewals, allowing them to proactively engage with clients and discuss terms.

• User interface (UI) design: Improves contract management processes through intuitive navigation and ease of use, reducing training time and user errors. An example is a dashboard that provides a clear overview of contract statuses and deadlines, helping users quickly identify and address pending tasks without navigating through complex menus.

• Document signing: Streamlines contract approval and execution, reducing turnaround times and ensuring secure, legally binding agreements. For example, a digital signature feature allows parties to sign contracts remotely, eliminating the need for physical meetings and speeding up the contract finalization process.

• Project management: Facilitates the coordination of contract milestones and deliverables, supporting timely compliance and execution. An example is a project management tool that sends automated reminders for key contract deadlines, helping teams stay on track and avoid penalties for late deliverables.

• Workflow automation: Increases efficiency by automating contract lifecycle tasks, minimizing errors, and ensuring adherence to compliance requirements. For example, a contract management system can automatically route contracts through the appropriate approval channels, reducing the risk of bottlenecks and making sure that all necessary stakeholders review the document.

How to choose the best contract management software for your business

Step 1: Define your requirements

Before selecting a contract management system, define your specific requirements, such as the size and types of contracts you need to manage. Requirements include the software's functionality, your budget, training assistance, data migrations, and any necessary integrations. These needs will guide you toward a solution that aligns with your current contract management processes and supports your long-term goals.

What is the cost of contract management software?

Most contract management tools use a monthly subscription model, with entry-level plans starting from $7 to over $99 monthly, depending on the system. Of the 600+ buyers our advisors have talked to in the past two years, 40% are planning to spend under $50, and another 25% budget between $50 - $100.

Integration considerations for contract management software

Contract management software is often integrated with customer relationship management (CRM) and enterprise resource planning (ERP) systems, especially in businesses where accurate contract handling and data consistency are crucial. For example, a contract manager can use a CRM integration to automatically pull client information into contracts, while an ERP integration keeps contract terms aligned with inventory and financial data. These integrations improve operational efficiency, reduce errors, and make sure that all parties have access to the most current contract details.

The industry you’re in will likely influence your requirements for contract management software, particularly regarding integrations.

• Manufacturing and logistics businesses can integrate contract management software with ERP systems, which provides real-time insights into supply chain operations and financial metrics. This helps managers negotiate better terms and maintain compliance with contractual obligations.

• Legal and consulting firms, where client interactions are integral to service delivery, can benefit from integrating contract management software with CRM systems to track contract lifecycles and client communications, supporting timely renewals and fostering strong client relationships.

Be aware of potential drawbacks

While there are many benefits to implementing contract management software, there are also potential pitfalls you may encounter. The good news is, they’re avoidable. Here are some of the most important ones to be aware of:

• Integration challenges: While contract management software often supports integration with other business systems, mismatches or technical issues can occur. These challenges may lead to data silos or inconsistencies, requiring manual intervention and undermining the efficiency that the software aims to provide.

• Cost concerns: Implementing a CMS tool can be expensive, with costs including licensing, customization, and ongoing maintenance. Smaller businesses may find these expenses burdensome, potentially outweighing the benefits if not carefully managed and justified by improved efficiencies.

  • Our analysis of products with high market demand and reviews finds that PandaDoc is rated the Most Affordable, and Gatekeeper is the Best Value for Money by verified reviewers on Software Advice for contract management software.

• Data security risks: Storing sensitive contract information digitally introduces potential security vulnerabilities. Without strict security measures, such as encryption and access controls, businesses risk unauthorized access to confidential data, which can lead to compliance issues and damage to reputation.

• Over-reliance on automation: While automation can improve processes, excessive reliance on automated workflows may reduce flexibility and adaptability. Teams might struggle to handle exceptions or unique contract scenarios that fall outside predefined processes, potentially leading to delays or errors in contract management.

Step 2: Make a shortlist of contract management software

With so many contract management software options, selecting the best one for your business can be difficult. Here, we’ll share guidance and resources to make it much easier.

Get qualified help from an advisor

At Software Advice, our advisors have experience helping hundreds of businesses identify solutions that match their needs and budgets. If you need guidance, you can chat online with an advisor or schedule a phone call. In just a few minutes, your advisor will help you identify a shortlist of options that align with your contract needs.

To help you after your free consultation, check out After Your Advisor Call: 4 Tips To Keep Your Software Purchase on Track. 

Explore our list of contract management FrontRunners

If you’re not ready to speak to an advisor just yet, you can also start compiling your shortlist of contract management software with our FrontRunners report. Only products that earn top user ratings make this list. Check out our full methodology description for more details on compiling the report.

For more help creating a shortlist and a free, downloadable comparison chart, check out The Ultimate Software Vendor Evaluation Guide. This guide and comparison chart will help you compare software evaluation criteria for each prospective vendor by tracking functionalities, training and support offerings, costs, and deployment options.

Step 3: Pick your best option

After narrowing down your options for contract management software, scheduling a vendor demonstration is the next crucial step. These sessions allow you to explore the software's features and ask pertinent questions, helping you make a well-informed investment. Preparation is key to gaining the most from these demos.

How to prepare for vendor demos

Once you’ve compiled your shortlist of contract management systems, schedule demo sessions with each vendor to gain deeper insights into their offerings. This is your chance to inquire about features, pricing, technical support, training, and other essential factors in selecting the right contract management software for your business.

Here are some questions you should consider asking vendors during demos:

Is your software customizable to accommodate our specific contract management needs?

Determining if the software can be customized to fit your unique contract workflows, templates, and reporting requirements is important. Ask if the system can adapt to your contract lifecycle processes without complex coding or technical expertise.

What integrations does your software support?

Understanding the available integrations is crucial to make sure the contract management software can seamlessly connect with your existing tools. This question helps evaluate whether the software will boost productivity by centralizing contract data and reducing manual entry. Clarify whether integrations are available out-of-the-box or require customization and whether the vendor will handle and maintain them.

What ongoing support and training do you provide?

Effective onboarding and continuous support are essential for smooth adoption and troubleshooting. Inquire about the types of training available, such as live sessions or tutorials, and the accessibility of customer support. Knowing the resources and assistance available will instill confidence in your team’s ability to use the software fully over the long term.

For additional questions to consider during demos, refer to How To Cut Through the Sales Pitch During Software Demos. This guide is designed to help you prepare for the software demonstrations vendors provide, rather than the preliminary discussions or online user review walkthroughs.

Step 4: Successful implementation of the new contract management software

Once you’ve selected and signed the contract for a new contract management system, the implementation process begins. Whether transitioning from another tool or manual processes, there are key considerations to focus on during this phase:

• Scalability and flexibility: Buyers should consider whether the contract management software can grow with their business and adapt to changing needs. This includes the ability to handle an increasing number of contracts and users and the flexibility to customize workflows and templates to fit evolving business processes.

• Integration capabilities: It's crucial to assess how well the software integrates with existing systems, such as CRM, ERP, and document management tools. Integrations make sure that contract data flows smoothly across platforms, reducing manual data entry and enhancing overall productivity.

• Security and compliance: To protect sensitive contract information, the software must provide advanced security features, such as encryption, access controls, and audit trails. Additionally, the software should help maintain compliance with industry regulations and standards, minimizing the risk of legal issues.

• User experience and support: Consider the ease of use of the software's interface and the availability of training and support resources. A user-friendly design reduces the learning curve, while comprehensive support helps users quickly resolve issues and fully leverage the software's capabilities.

For more tips on the software implementation phase, check out our 5 Critical Steps to a Successful Software Implementation Plan guide.

Software related to contract management

Depending on which contract management software you choose, you may need to supplement certain features with additional systems to support document storage, proposal creation, or specific industry requirements. Some types of software that are related to contract management software, and may or may not be included in your system, include:

• Document management software: Helps business users digitally upload, track, and archive documents while keeping them secure (DMS is a part of the content management systems category).

• Forms automation software: Create digital versions of paper forms, including applications, surveys, contracts, work orders, etc.

• Proposal management software: Create, organize, and manage proposals efficiently, improving the proposal development process and team collaboration.

• Quoting software: Automates creating and managing price quotes for products or services, helping businesses quickly generate accurate and professional quotes.

More resources for your contract management journey

How To Write a Business Case for New Software [Template Included]

How To Evaluate New Software in 5 Steps

Vendor Resources You Could Be Taking Advantage Of

How To Identify and Avoid Unnecessary Costs When Switching Software

About our contributors

Author

Olivia Montgomery is an associate principal analyst at Software Advice, covering program and project management with a focus on the strategic alignment of IT and operations to optimize digital transformation. Drawing from her experience as a former IT PMO leader and her background in humanities studies, Olivia delivers data-driven insights that empower business leaders to drive business growth through projects.

Olivia’s research and analysis is informed by nearly 200,000 authentic user reviews on Software Advice and over 10,000 interactions between Software Advice software advisors and project management software buyers. Olivia also regularly analyzes market sentiment by conducting surveys of project managers and PMO leaders so she can provide the most up-to-date and helpful information to small and midsize businesses purchasing software or services.

Her expertise is featured in Forbes, Bloomberg, CIO Dive, and TechRepublic, as well as in podcasts, such as The Digital Project Manager. Recently, she presented her research on emotional intelligence (EQ) and decision-making at PMI's Global Summit conference, shedding light on the crucial role of EQ in driving project success. When she's not analyzing tech trends, you can find Olivia horseback riding or re-watching Jurassic Park.

Editor

Caroline Rousseau is a senior content editor at Software Advice.

A former content analyst, Caroline has, for the past five years, built, written, and edited research reports about technological trends, opportunities, and challenges with an SMB audience in mind. Her content has been featured in French Tier 1 media including Le Monde, L’Express, and Le Figaro, among other publications.

Her previous experience as a graphic designer, translator, and LQA specialist in various industries converged into a skill set that allows her to create compelling content about today’s business matters. Caroline’s personal interests include literature and art and she has a passion for Albert Camus, graphic novels, and drawing.

Contributor

Matthew Kerbis is an experienced legal counsellor, public speaker, and founder of Subscription Attorney LLC. His mission is to help business owners revolutionize their legal operations and empower industry professionals by sharing how AI and automation insights can elevate their practices.

Sources

• Software Advice advisor call notes: Findings are based on data from telephonic conversations that Software Advice’s advisor team had with businesses seeking contract management software. For this report, we analyzed phone interactions from January 10, 2023, to January 10, 2025. Read the complete methodology.

• Software Advice reviews data: Software Advice reviews are collected from verified users for individual software products. For this report, we analyzed reviews from the past two years as of the production date. Read the complete methodology.

• 7 Top-Rated Affordable Contract Management Software, GetApp