Contract Management Software FAQs
What is contract management software?
Contract management software stores, tracks, and monitors business contracts and agreements such as licensing agreements and vendor contracts. It can also be used to create new contracts, track and store detailed information about individual contracts, edit and format agreements, and help automate administrative tasks involved in managing contracts.
How much does contract management software cost?
Contract management software pricing can be a one-time fee, monthly subscription, yearly subscription, or based on the number of users accessing the system. Prices can be as low as $10 per month, per user, and as high as $45,000 annually. Check out our contract management software pricing guide to get an idea of the different pricing options available for this type of software. Check out this blog for a deeper dive into how pricing can vary from vendor to vendor.
What are some common contract management software features?
Contract management solutions offer file storage. They also have tracking and search capabilities to easily and efficiently organize and search contracts within the system. Lastly, contract management systems provide reporting functionalities to show how contracts function throughout their life cycle.
What are the benefits of using contract management software?
Contract management software eliminates the need for file cabinets or spreadsheets to store, file, manage, and track business agreements and contracts. Since the solution provides a centralized location for business contracts, it eliminates human error that can occur with manual filing and tracking. Contract management systems can help save time, reduce costs related to lost or misfiled agreements, reduce risk, and allow efficient collaboration with internal and external stakeholders.
Are there free contract management software options?
Solutions such as Agiloft and Concord offer free versions of their software, and there are other systems that offer free trials to test out their software. Based on our research, there aren’t many open source contract management software options available, but there are several low cost solutions. Visit our contract management software pricing guide for detailed pricing information on various contract management software options.
- Full Contract Management Software List