Contract Lifecycle Management Software

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Showing 1 - 20 of 122 products
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Showing 1 - 20 of 122 products

SAP Ariba

Focused on streamlining source-to-pay operational processes, SAP Ariba provides e-procurement and supply chain management solutions that enable growing, medium-sized, and large companies to achieve end-to-end digital transformatio...Read more

3.74 (31 reviews)

41 recommendations

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Shipedge

Shipedge is a cloud-based warehouse management solution for small, midsize and large enterprises. It caters to e-commerce warehouses, fulfillment service providers, third-party logistics companies (3PL/4PL), omni/multi-channel ret...Read more

5.00 (1 reviews)

8 recommendations

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NetSuite

With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more

4.10 (817 reviews)

5 recommendations

ShippersEdge TMS

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...Read more

5.00 (3 reviews)

5 recommendations

Port TMS

Port TMS is a cloud-based solution, which assists businesses in the freight industry with transportation and workflow management. Key features include accounting, document management, shipment tracking, client management and commu...Read more

5.00 (3 reviews)

5 recommendations

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iM3 SCM Suite

iM3 SCM’s Smart Warehouse Management (smartWMS) is a cloud-based software offered to its customers as a SaaS Application. iM3 SCM helps clients reduce their implementation costs to help increase ROI and productivity. From mul...Read more

4.32 (22 reviews)

2 recommendations

Gatekeeper

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 in...Read more

4.76 (46 reviews)

1 recommendations

Icertis Suite

Icertis provides cloud-based contract lifecycle management (CLM) solutions that enable businesses to manage all stages of a contract’s lifecycle. Key features include approval workflow, auto extraction, milestone tracking, contrac...Read more

4.39 (38 reviews)

1 recommendations

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SourceDay

Our research shows that 52% of POs change after being issued. Our system automates PO line changes and enables supplier collaboration. Why this matters: · No more email, spreadsheets, ...Read more

4.73 (26 reviews)

1 recommendations

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Contract Logix

Contract Logix is a data-driven contract lifecycle management software platform that provides the ability to automate and digitize the drafting, negotiation, approval, execution, and management of contracts and related documents. ...Read more

4.13 (16 reviews)

1 recommendations

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Software pricing tips

Read our Contract Lifecycle Management Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

DocuVantage OnDemand

DocuVantage OnDemand Contracts is a cloud-based contract management solution offering a complete portfolio of features to manage the contract development and review process from beginning to end for businesses of any size and indu...Read more

4.50 (10 reviews)

1 recommendations

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Oracle Cloud SCM

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 user...Read more

3.89 (9 reviews)

1 recommendations

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TOTALaccess TMS

TOTALogistix has brought the efficiencies of a robust TMS to small and midsized shippers. TOTALogistix TOTALaccess TMS is a powerful proprietary shipping engine with a user-friendly interface; enabling employees even those withou...Read more

4.60 (5 reviews)

1 recommendations

SoftCo Procure-to-Pay

SoftCo is a cloud-based and on-premise software that provides solutions in financial process automation. It is designed for midsize to large companies across all industry sectors. SoftCo Procure-to-Pay facilitates the creation o...Read more

No reviews yet

1 recommendations

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Medius Spend Management

Medius Strategic Sourcing Medius Strategic Sourcing helps conduct RFX events and auctions online. Suppliers can submit bids and information via the self-service portal, saving time and effort. The powerful, highly intuitive t...Read more

No reviews yet

1 recommendations

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QuickBooks Desktop Enterprise

QuickBooks Enterprise is an accounting solution designed for SMBs across different industry verticals such as construction, nonprofit distribution, manufacturing, and retail. With QB Enterprise solution, any business owner can exp...Read more

Dynamics 365

Microsoft Dynamics 365 is a cloud-based CRM ecosystem for small, medium and enterprise organizations, with a focus on Sales, Field Service, Customer Service complete with strong integrations with Microsoft’s other Office 365 offer...Read more

PandaDoc

PandaDoc is cloud-based document management software that helps users in creating proposals, quotes, human resources documents, contracts and more. The solution is mostly used by sales and marketing teams and company leadership. ...Read more

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Odoo

Odoo Point of Sale (POS) is part of Odoo’s integrated suite of business applications. The module is available both on and offline and provides unified data across stores and has an integrated inventory management function. Od...Read more

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QuickBooks Commerce

QuickBooks Commerce is a powerful cloud-based inventory and order management software for modern online businesses. Seamless integration across all major e-commerce platforms ensures that product listings, orders, and data stay up...Read more

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Buyers Guide

Last Updated: May 19, 2022

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.