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Contract Lifecycle Management Software


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ShippersEdge logo
 
ShippersEdge is a cloud-based transportation management solution that manages shipping logistics. It helps users manage shipments, submit claims and handle multiple carriers. ShippersEdge helps companies save time and control costs.... Read More
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ShippersEdge is a cloud-based transportation management solution that manages shipping logistics. It helps users manage shipments, submit claims and handle multiple carriers. ShippersEdge helps companies save time and control costs.... Read More
 
Coupa Cloud Spend Management logo
 
Coupa is a cloud-based business spend management solution that helps businesses to manage their budget and spending for business services. Key features include e-procurement, expense management, expense report auditing, real-time benchmarking... Read More
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Coupa is a cloud-based business spend management solution that helps businesses to manage their budget and spending for business services. Key features include e-procurement, expense management, expense report auditing, real-time benchmarking... Read More
 
AIT SureShip logo
 
AIT SureShip is a shipping management solution that integrates Infor StyeLine and other enterprise resource planning (ERP) solutions with UPS, FedEx and USPS. It supports on-premise and cloud-based deployment and is suitable for industries... Read More
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AIT SureShip is a shipping management solution that integrates Infor StyeLine and other enterprise resource planning (ERP) solutions with UPS, FedEx and USPS. It supports on-premise and cloud-based deployment and is suitable for industries... 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
 
Oracle SCM Cloud logo
 
Oracle SCM Cloud is a cloud-based supply chain management solution that offers distribution, manufacturing, inventory management and fleet management within a suite. The product features product development, which allows users to... Read More
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Oracle SCM Cloud is a cloud-based supply chain management solution that offers distribution, manufacturing, inventory management and fleet management within a suite. The product features product development, which allows users to... Read More

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SMART by GEP logo
 
SMART by GEP is a cloud-based unified procurement solution that offers spend analysis, savings tracking, strategic sourcing, contract management, supplier management and procure-to-pay order processing in a mobile-enabled suite.... Read More
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SMART by GEP is a cloud-based unified procurement solution that offers spend analysis, savings tracking, strategic sourcing, contract management, supplier management and procure-to-pay order processing in a mobile-enabled suite.... Read More
 
Conga Contracts Contract Management logo
 
Conga Contracts is a hybrid contract lifecycle management (CLM) solution that helps organizations to generate, track, maintain and report on different business contracts. The solution can either be deployed on-premise or hosted in... Read More
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Conga Contracts is a hybrid contract lifecycle management (CLM) solution that helps organizations to generate, track, maintain and report on different business contracts. The solution can either be deployed on-premise or hosted in... Read More
 
ContractSafe logo
 
ContractSafe is a cloud-based content management system (CMS) suitable for businesses of any size. Key features include document management, contract management, key date alerts, permissions and reporting and analytics. ContractSafe... Read More
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ContractSafe is a cloud-based content management system (CMS) suitable for businesses of any size. Key features include document management, contract management, key date alerts, permissions and reporting and analytics. ContractSafe... 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
 
SAP S/4HANA logo
 
SAP S/4HANA (for Supply Chain Management) is an integrated enterprise resource planning (ERP) software suite designed for businesses of all sizes and kinds. The product caters to multiple industry verticals, such as manufacturing,... Read More
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SAP S/4HANA (for Supply Chain Management) is an integrated enterprise resource planning (ERP) software suite designed for businesses of all sizes and kinds. The product caters to multiple industry verticals, such as manufacturing,... Read More

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ContractRoom logo
 
Contract Room is contract management solution that helps finance, human resource, operations and legal departments to capture documents and process images. It also offers case management and records management features. The solution... Read More
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Contract Room is contract management solution that helps finance, human resource, operations and legal departments to capture documents and process images. It also offers case management and records management features. The solution... Read More
 
Apttus Contract Management logo
 
Apttus Contract Management is a cloud-based and on-premise supply chain management (SCM) and configure price quote (CPQ) software designed for large companies in a variety of industries. It offers solutions in areas such as e-commerce... Read More
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Apttus Contract Management is a cloud-based and on-premise supply chain management (SCM) and configure price quote (CPQ) software designed for large companies in a variety of industries. It offers solutions in areas such as e-commerce... Read More
 
Contract Logix CLM logo
 
Contract Logix Contract Lifecycle Management (CLM) is a hybrid contract management solution suitable for businesses of all sizes. Key features include a central contract repository, alerts for important dates authoring, redlining,... Read More
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Contract Logix Contract Lifecycle Management (CLM) is a hybrid contract management solution suitable for businesses of all sizes. Key features include a central contract repository, alerts for important dates authoring, redlining,... Read More
 
Basware Procurement logo
 
Basware Procurement Software is a cloud-based system that helps companies buy and pay for goods and services in a paperless way. The solution allows companies to see everything that is being ordered, purchased, and received. It automates... Read More
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Basware Procurement Software is a cloud-based system that helps companies buy and pay for goods and services in a paperless way. The solution allows companies to see everything that is being ordered, purchased, and received. It automates... Read More
 
Precoro logo
 
Precoro is a cloud-based spend management solution for small and midsize businesses that helps automate procurement processes. Key features include purchase order creation and delivery, billing, spend data analysis, vendor management,... Read More
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Precoro is a cloud-based spend management solution for small and midsize businesses that helps automate procurement processes. Key features include purchase order creation and delivery, billing, spend data analysis, vendor management,... Read More

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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
 
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
 
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
 
DocMinder Contract Management logo
 
DocMinder is a cloud-based and on-premise task management solution. It caters to energy, legal, contract management, governance risk compliance companies. Primary features include a to-do list, calendar view, email follow-ups, issue... Read More
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DocMinder is a cloud-based and on-premise task management solution. It caters to energy, legal, contract management, governance risk compliance companies. Primary features include a to-do list, calendar view, email follow-ups, issue... Read More
 
Pronto Xi logo
 
Pronto Xi is an integrated enterprise resource planning (ERP) suite that provides core applications, such as financial accounting and business intelligence, alongside sales and marketing modules, supply chain management and distribution... Read More
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Pronto Xi is an integrated enterprise resource planning (ERP) suite that provides core applications, such as financial accounting and business intelligence, alongside sales and marketing modules, supply chain management and distribution... Read More
 

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: June 21, 2018


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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