Contract Lifecycle Management (CLM) Software is a vital tool for organizations, businesses, and enterprises that deal with contracts frequently. It assists in handling every aspect of the contract lifecycle, from contract creation to contract management, and ultimately contract termination or renewal. With multiple contract management software available in the market, finding the right one may seem confusing. This article will help you discover some of the best contract lifecycle management software available in the market.
1. Agiloft: Agiloft is a robust and powerful contract management software trusted by multiple organizations globally. This platform is easy to use and highly customizable, making it a perfect fit for companies that operate in various industries. Agiloft offers various features like advanced reporting, workflow automation, and customization that cater to a business` unique needs.
2. SAP Ariba: SAP Ariba is one of the most popular contract management software in the market today. This platform provides a comprehensive set of tools to automate the entire contract lifecycle from negotiation to renewal, providing real-time insights into supplier performance, contract risks, and compliance. Apart from contract management, SAP Ariba has a prominent procurement module that helps manage the purchasing process.
3. ContractWorks: ContractWorks is an easy-to-use and efficient contract management software. This platform has a user-friendly interface, which makes contract management easy and less time-consuming. ContractWorks offers excellent features like OCR (Optical Character Recognition) capability, email reminders, reporting, and electronic signature functionality, which allows businesses to handle their contracts effortlessly.
4. Icertis: Icertis is an AI-powered contract management software that automates the entire contract lifecycle. It helps businesses manage contracts confidently, minimize risks, and enforce compliance. Icertis offers robust features like contract analytics, automated workflows, and contract authoring, generating contracts in minutes.
5. Onit: Onit is a cloud-based contract management software that offers end-to-end contract management solutions. This platform helps businesses streamline the contract management process, improve contract compliance, and minimize risks. Onit has features like legal hold capability, contract negotiations, and automated approval processes.
Conclusion:
Choosing the right contract lifecycle management software is crucial to meet an organization`s specific needs and goals. Agiloft, SAP Ariba, ContractWorks, Icertis, and Onit are the best contract management software available in the market that provides comprehensive features to automate the entire contract lifecycle. Consequently, the right contract management software can help your organization save time, reduce risks, and improve contract compliance.