Find the best Contract Lifecycle Management Software

Overview
ON THIS PAGE

Compare Products

Showing 1 - 20 of 126 products

Aravo

Aravo is an industry leader that enables global brands to accelerate their third-party risk management programs to respond to business disruptions, meet sustainability goals, and comply with regulations. Aravo’s platform and its b...Read more about Aravo

No reviews yet

Coupa

Point solutions are pointless: spend smarter with the leading spend management platform built for companies like you. The Coupa platform allows you to take control of your spend and position your business for resilience and growth...Read more about Coupa

4.1 (88 reviews)

2 recommendations

Learn More

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 about ShippersEdge TMS

5.0 (3 reviews)

7 recommendations

Basware

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 au...Read more about Basware

Learn More

Logimax

Logimax is a warehouse management system built on the IBMi platform. It is built for 3PL and multi-customer warehouse businesses, but it is also suitable for industries such as consumer packaged goods, pharmaceuticals, cold stora...Read more about Logimax

5.0 (2 reviews)

Digital Supply Chain Network

One Network's Digital Supply Chain Network (previously known as Real Time Value Network) is a cloud-based supply chain management solution that helps larger organizations optimize their supply chain service. It offers a comprehens...Read more about Digital Supply Chain Network

No reviews yet

Claritum

Claritum is a cloud-based spend management solution designed to streamline source-to-settle processes for midsize and enterprise-level organizations. From source to settle, organizations have an automated process to capture o...Read more about Claritum

Iptor ERP

Iptor (formerly known as IBS Enterprise) offers cloud-based solutions for supply chain managers and distributors of all scale and size. It provides integrated ERP solution with built-in capabilities for supply chain management, in...Read more about Iptor ERP

3.0 (1 reviews)

DELMIA Quintiq

Quintiq's Supply Chain Planning and Optimization (SCP&O) solution is designed to help businesses manage their planning and job scheduling activities. The solution helps to manage production, logistics, or the workforce, spann...Read more about DELMIA Quintiq

3.8 (5 reviews)

4castplus

4castplus is a cloud-based project cost management solution designed to manage and control the finances on major construction projects. It’s a collaborative platform that connects multiple disciplines, data and workflows for the m...Read more about 4castplus

Pantonium

Pantonium is a cloud-based routing and fleet management solution that helps transportation operators to manage their fleets and transportation of people in non-emergency medical situations, community and public transit, shared rid...Read more about Pantonium

4.7 (3 reviews)

Icertis Contract

With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what’s possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform ...Read more about Icertis Contract

Learn More

Bellwether Purchasing Software

Bellwether Purchasing Software is an easy-to-use, cloud-based purchasing and inventory management solution ideal for SMB customers in all industries who create 50-1000 POs a month. Primary features include requisitions, approval ...Read more about Bellwether Purchasing Software

Learn More

SutiProcure

SutiProcure is a supply chain management solution that helps businesses automate the entire procure-to-pay cycle. With applications for procurement, strategic sourcing, WMS, supplier management and more, it assists companies to ma...Read more about SutiProcure

No reviews yet

Asentex Contract Management

Asentex is a contract management solution designed for business of all sizes. The product caters to multiple industries, such as construction, education, government agencies and health care. The product is available both in cloud...Read more about Asentex Contract Management

5.0 (4 reviews)

ESM Purchase

EasyPurchase by ESM Solutions is a cloud-based procurement management solution for higher education institutions, K-12 school districts, state and local governments and mid-size commercial businesses. The solution allows users to ...Read more about ESM Purchase

4.5 (2 reviews)

Tradogram

Tradogram is a cloud-based procurement management solution. Users can choose from a list of integrated modules such as supplier management, purchase-to-pay, contract management, strategic sourcing and order management. Team manag...Read more about Tradogram

4.5 (67 reviews)

7 recommendations

Learn More

E2open

E2open is the connected supply chain software platform that enables the world’s largest companies to transform the way they make, move, and sell goods and services. With the broadest cloud-native global platform purpose-built for ...Read more about E2open

3.2 (3 reviews)

SicommNet eProcurement Suite

SicommNet's BASEC (Buy and Sell Electronic Commerce) is a cloud-based electronic procurement designed for state and local government municipalities and their vendor/supplier-customer procurement processes. SicommNet’s vendor/suppl...Read more about SicommNet eProcurement Suite

No reviews yet

ContractWorks

ContractWorks is contract management software designed to address the signing, tracking, and managing of corporate agreements. ContractWorks features a centralized, searchable repository for contracts, and includes helpful feat...Read more about ContractWorks

4.8 (77 reviews)

6 recommendations

Learn More

Buyers Guide

Last Updated: March 16, 2023

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.