Are your contract templates constantly changing and getting lost? Are you running into inconsistent format, language, and terms while managing business contracts? Are email threads slowing down your entire contracting process?
If these issues are troubling you, it’s high time you think of incorporating a contract management system into your business. Companies of all sizes have to deal with contracts and agreements down the road to function well. But manual dealing is no longer a suitable solution.
Are you already looking for the right solution? Have you come across ContractWorks a lot of times? That’s alright as the ContractWorks team has put in great efforts and has come up with a decent contract management solution. But, if you are seeking more optimal solutions, you are reading the right piece of information.
This blog uncovers the ten best ContractWorks alternatives that any organization looking for a contract management solution must know.
Let us get the hang of the basics of contract management software before plunging into the options available.
What is Contract Lifecycle Management software?
A contract lifecycle management software, abbreviated as CLM software, is a tool that gives you full control over all your contracts and helps to manage it better. This software solution enhances your business process by streamlining and automating key stages of a contract lifecycle.
These contract management platforms take care of contract processes ranging from the initial stage of contract requests to the final stage of contract renewals. These tools are flexible enough to allow third-party integrations with CRM, ERP, and other business software.
To know more about the features, functioning, and benefits of a CLM in detail, read the blog- Contract Management Software – An Ultimate Guide.
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7 reasons why your business needs contract management software
CLM software uses technologies like optical character recognition (OCR), Systems, Applications & Products in Data Processing (SAP), etc., to produce intelligent contracts.
Multiple features and cutting-edge functionality of a CLM software make it suitable for contracting processes for all business functions (HR, business operations, sales, procurement, marketing, etc.) in an organization.
- Contract compliance: A contract is handled by multiple people in any organization. Amidst all the paper mess, it becomes difficult to coordinate and manage documents with multiple teams. A CLM software provides contract accountability by tracking all the changes and enabling version control.
- Increased visibility: A central contract repository makes it easy for all authorized staff members to access the latest version of all contracts. Unlike manual ways of handling multiple versions of contracts, a CLM makes the process more organized.
- Risk reduction: Features like detailed analytics, artificial intelligence, notifications for renewal dates, etc., make organizations efficient and enable smooth functioning. Unlike manual handling, CLM eliminates the risks of missing out on timely renewals or specific clause compliance, etc. from contracting processes.
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- Automated workflows: It is important to automate the approval workflows within contracts to cut down on human errors and to keep a constant check. Chasing the review processes manually and following up on the changes is a cumbersome process. A CLM software enables customization and automation of workflows to streamline the process.
- eSign: With the current scenario of a socially distanced world, fetching manual signatures is not a feasible option. It is a lengthy process and can be easily forged. The option to eSign documents is provided in many CLM software to save you from all these troubles.
- Seamless collaboration: CLM software enables teams to collaborate over the same document. This makes the process smooth by eliminating the messy back and forth exchange of multiple emails.
- Refined/Coherent audit preparation: Contract management software offers a centralized portal with features like audit trails. This enables organizations to access the entire contract history in mere clicks. This helps staff to maintain accurate records for auditing purposes.
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Things to consider before finalizing a Contract Lifecycle Management tool
If you are convinced that your business needs an all-in-one contract management solution, your next step would be to look for the most dynamic option.
But, is narrowing down the choices to one an easy task?
Definitely not. To make your selection process a bit easier, here are some factors to consider when choosing a contract tool:
- Evaluate your needs: The most important factor before finalizing a contract management platform for your business is to understand and analyze your objectives and requirements. Every software has its own unique selling point and award-winning features. You need to look for the one that suits you the best.
- The user interface of the tool: A tool will benefit your company only when it has an easy-to-understand user interface and is user-friendly for all your employees.
- Integration capabilities: Ensure the new contract management system has the capacity to integrate with other corporate systems (CRM, ERP, etc.) already deployed in your company, or tools that the company might use in the future.
- Budget: Allocating proper budgets for every task is a major chunk of planning, especially while doing business. Assess your resources and invest accordingly.
- Support/training facilities: You must be well aware of all the training requirements required to implement the tool successfully. Research the type of support required and how much of it is made available by the company.
Contract management using ContractWorks
ContractWorks is a simple contract management software offering its services across all industries.
- Document templates
- Customizable form fields
- Audit trail
- Permission-based user roles
- Salesforce integration
- Central contract repository
- Smart document tagging
- Advanced OCR text search
Standard: $600 per month (billed annually)
Professional: $800 per month (billed annually)
Enterprise: $1000 per month (billed annually)
ContractWorks is a great tool with some really supportive features for managing contracts. But there are more potential choices to consider.
It is recommended to explore other ContractWorks alternatives available, to find the one that suits your business needs. Read on to evaluate the pros and cons of each alternative.
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Top 11 ContractWorks alternatives
1. Revv: the best ContractWorks alternative
To succeed in business, it is important that companies must have the right tools and processes in place that enable their sales, finance, procurement, legal, and other business teams to meet goals and objectives efficiently. Revv is among the best contract management solutions and a great ContractWorks alternative that not only equips existing processes but also allows you to adapt to unforeseeable circumstances. With the objective of supporting businesses going paperless, it has introduced many praiseworthy features that make contract management quite effortless. The most distinctive feature of Revv is that it is built with simplicity for its customers.
Whether your team is in the office, working from home, or spread around the world, Revv allows you to access and manage the end-to-end processes of your contracts seamlessly.
Let’s take a detailed look at how Revv effortlessly eases your contract management processes.
Explore top ten features of Revv
1.1 Digitize existing contracts with ease
Digitizing paper contracts, even older contracts, will vastly increase your document preservation capabilities. With Revv, you can simply upload or drag and drop your existing contracts to the platform and start to make changes. You can even create contracts from scratch or make use of Revv’s extensive template library of more than 1000+ legally vetted and ready-to-use templates. Utilizing readymade contract templates makes the process of contract creation much faster and easier.
All these contracts can further be edited and custom-designed using the rich document composer in Revv. The document editor has multiple functionalities. It allows you to drag and drop text blocks, images, quote tables, page breaks, simple tables, eSign blocks, etc.
Read this blog to know more about the tips and tricks of writing the perfect contract.
1.2 Real-time review and collaboration between teams
This platform equip you with an extremely seamless collaborative space. Revv provides you the flexibility to collaborate with your internal teams with the notes feature. If you want feedback or want additional input from a single person or from multiple people, all you have to do is tag them using @ mentions. The tagged person will also be notified via email. Team members and those in the signature list who have access to the document or are tagged in it can attach files and, include private and public notes.
1.3 Legally binding and compliant contracts
Revv provides bank-grade electronic signatures that are enforceable in a court of law in more than 60 countries. They are fully compliant with relevant US laws, such as the Global and National Commerce Act (E-SIGN Act) and the Uniform Electronic Transactions Act (UETA). For countries coming under the European Union, Revv complies with Electronic Identification, Authentication, and Trust Services (eIDAS) as well.
Under ESIGN Act, it is mandatory that all your electronic signature workflows should include the following elements:
- Intent to sign
- Consent to conduct business electronically
- Association of signature with the records
- Maintenance and retention of records
Revv adheres to all these four clauses with their eSignature solution.
Every signed contract in Revv captures an exhaustive audit trail that chronologically records any action taken on the file. It includes details such as the recipient’s unique ID, the document’s name, the date and time it was viewed, generated, and eSigned, and the IP addresses from which the contract was accessed.
1.4 Diverse electronic signatures to choose from
Revv provides bank-grade electronic signatures that follows all local and international laws.
Soft sign: Revv provides a Send for acceptance feature for documents that merely need an acceptance from the recipients. You can reduce the use of eSignatures with this feature. It could be used for documents like consent forms, acceptance letters, etc.
1.5 Faster approval and review of contracts with eSignature alternatives
Be it any kind of contract, it requires detailed scrutiny before sending for eSign. When a sender requires approval from management or review from other departments inside the company, opt for Revv’s Check and send for internal approval feature. Set precise triggers and automate your document approval workflows with this option.
If contracts need to be vetted by someone outside the company, then the user can choose the Send by email option provided in the Revv platform. The sender can also set permission to view or edit the document.
1.6 Control access to contracts with recipient authentications
Revv protects your contracts and prevents any unauthorized access through
- Email authentication: All contracts are mandatorily sent to the recipient’s email address for electronic signing in Revv.
- SMS-OTP authentication: Add an extra layer of protection for your confidential contracts with Revv’s Authenticate with OTP through SMS option and enter the phone number of the recipient when sending the contract for eSign. An OTP is generated and sent to the recipient’s mobile when they click the eSign link to validate their identity. To access the file and start signing, the recipient has to enter the OTP code.
1.7 Instant notifications and real-time tracking
Whether you are sending contracts for electronic signature or internal approval or acceptance, all actions will be instantly notified to both senders as well as recipients via autogenerated emails.
A sender can also track any activity that has happened in the contract from the Activity tab. It records all actions associated with it, right from the creation of contracts to the completion of electronic signatures. For instance, if a recipient has viewed a document and hasn’t completed the eSign for a couple of days, the sender can easily analyze this blocker from the Activity tab and reach out to the person and clarify recipient queries immediately.
1.8 Power contract workflows with automation capabilities of Pipeline
Revv helps to automate the entire contract lifecycle process, from start to finish. You can remove unnecessary processes from your contract workflows using Revv Pipeline. The Pipeline features help in automating end-to-end contract workflows for your company.
Pipeline feature explained in detail.
- Revv’s Pipeline feature follows the Kanban method. You can categorize your contracts by putting them into different pipelines and each pipeline can represent a particular type of contract, for instance, partnership agreement, sales contract, employment contract, and so on. You can add any number of pipelines based on your contract needs. For example, the sales contract pipeline will host all the sales-related contracts you deal with.
- By using the Pipeline Routing feature, you can set a routing rule to send all the documents created from the sales contract template to the sales contracts pipeline.
- Each pipeline consists of different lanes that represent a contract’s status. You can customize each lane based on your contract process. For example, the lanes can go by the names new contract, internal review, send for approval, approved, eSigned, closed, declined, etc.
- After you define the lanes, you can configure the document actions, called events, for each lane. An event is a condition under which a contract enters a lane. For example, when a sales contract is internally authorized, it is transferred to the Approved lane.
- You can also add jobs to each lane that defines what must be done when a contract enters that lane. For example, you can notify your Sales Manager and Legal Head when a document reaches the Approved lane.
- Along with automating contracts and their actions, users can set automated reminders as well, curtailing the time spent on manual follow-ups.
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1.9 Seamless app integrations
The creation and management of contracts can only be made effortless if your existing business systems are connected across platforms. With Revv, you can seamlessly integrate your existing CRMs, HRMS, and other enterprise software easily. Revv’s integration capabilities are further powered by Zapier, Retool, and Native API solutions. The integration doesn’t require separate codes or scripts as well.
1.10 Flawless data mapping with Data Studio
Depending on the size and complexity of the document, the data mapping process can take days, weeks, or even months. With Revv’s no-code Data Studio feature, data mapping is a breeze. Users can map data with multiple data sources to the Revv platform through point-and-click or by drag-and-drop.
1.10. a. Data capture with custom web-forms
Even after integrating your business platforms with Revv, there might be instances where certain contracts require some key details from the recipient. You can still navigate the challenges of manual data mapping and simultaneously enjoy the benefits of Revv’s automated document workflows with the help of form fields or fillable placeholders.
All you need to do is turn your contract into a form-based template. Insert form fields wherever needed using the form field feature. You can use form fields to effectively gather data from your recipients that only they can provide.
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The efficient integration capabilities of Revv make it possible for businesses to continue their processes post eSignature of contracts. When Revv is integrated with Box, workflows can be automated for your business systems before and even after the completion of eSignatures.
Revv’s Pipeline feature makes it easy to automate operations between Revv and Box. Workflows of any complexity may now be created, managed, and executed with ease. Trigger new Box workflows based on your business needs using document metadata and metadata obtained from Revv’s form fields.
When it comes to deciding what data to save in Box, you have the last say. Document files, Evidence Summary, Document Attachments, Document form fields, and quote line items are some of the data types you can send to Box.
Revv offers both monthly and annual billing options. Here are Revv’s monthly pricing based on annual billing:
- Forever free plan: $0
- Basic: $15 per user per month
- Premium: $39 per user per month
- Business: $79 per user per month
- Enterprise: Custom plan designed to meet the enterprise-level needs
Agiloft is a contract and commercial lifecycle management (CCLM) software. It enables organizations to become more agile through well-managed contracts. Agiloft is available for both cloud service and in-house deployment.
- Contract repository
- Template and clause libraries
- Automated approval workflows integrated with email and text alerts
- eSignature with Adobe Sign and DocuSign integration
- Customized reports and automated alerts
- Integration to ERP and CRM systems
- Custom dashboards to track KPIs
Agiloft provides multiple pricing options – free, professional, professional extended, enterprise, enterprise extended. There is no fixed price on paid plans. Each package can be customized based on requirements and budget.
All plans are dependent on the number of users and charge $65 per user per month.
Concord is quite a flexible CLM platform that can be set up easily. The all-in-one tool with editor, eSign, and other notable features is a smart choice.
- Template building and clause library
- Real-time editing & redlining
- Automated versioning
- Private/public chat & commenting
- Automated approval workflows
- Full audit trail
- Storage system
- Automated alerts
- Integration with Salesforce, Google Drive, SSO, DocuSign, Dropbox, and Box
Each package’s pricing is based on the number of users. Here are Concord’s pricing plans:
- Standard: $17 per month per user
- Pro: $49 per user per month
- Enterprise: Get a custom quote
4. Conga contracts
Conga contracts offers a potential ROI, comes with features to create, share, store, and analyze all types of business contracts.
- Pre-built contract templates
- Clause library
- Drag and drop interface for editing templates
- Compliance and completion tracking
- Efficient document management
- Version control available
- Full text search
- Workflow management
- Supports data import
- Supports ERP integration and integration with many software like DocuSign, Salesforce, Evernote, etc.
- Granular security controls
The pricing plans for Conga contracts are customized and a free trial is available.
Gatekeeper is a cloud-based supplier and CLM solution. This ContractWorks alternative is designed to help businesses streamline their contracting process.
- Customizable templates
- Offers a self-service portal
- Provides a transaction history
- Full audit trails
- Captures electronic signatures
- Compliance and sourcing management
- Performance metrics
- Fast, intuitive filtering and searching
- Workflows for teams
- Email reminders on key renewal dates
Here are Gatekeeper’s pricing plans:
- Essential: $875 per month
- Pro: $2,095 per month
- Enterprise: $3,725 per month
All the plans include unlimited users and the plans scale according to the number of suppliers and contracts.
SpringCM is a contract management solution that makes business easier for you as well as your clients. This ContractWorks alternative facilitates the smooth functioning of all contract processes at all key stages by offering a plethora of features.
- Pre-built templates for contracts
- Version control
- Provides workflow management
- Automatic reminders for due dates, renewals, and more
- Integration with Office 365 apps such as Microsoft Word
- Integration with Salesforce
- REST API access and support for developers
- Detailed analytics for finding document approval bottlenecks
The software has a subscription pricing model. Here are SpringCM’s pricing plans:
- Professional: $39 per user/per month
- Enterprise: $79 per user/per month
All SpringCM contracts are billed annually.
Icertis is a software with features that simplify complex contract management processes. Icertis enables organizations to handle contracts in a smart manner and achieve their business goals.
- Pre-built contract templates
- Completion and compliance tracking
- Electronic signature
- Full-text search
- Workflow management
- Version control is available
The pricing plan of Icertis is not made available on any of its sites. You need to inquire here to obtain the same.
Pandadoc is a complete SaaS solution to automate your entire contract management process. It is user-friendly for both internal and external teams to handle all types of contracts and is a great ContractWorks alternative.
- Contract templates
- Rich editor
- Pre-approved clause library
- CRM integration
- Automated approval workflows
- Centralized storage
- Collaboration with in-line commenting and document chats
- Payment processing
- Real-time notifications
PandaDoc offers both monthly and annual plans. The annual plans can lead up to a saving of 24%. Here are Pandadoc’s pricing plans based on monthly billing –
- Essentials: $19 per month per user
- Business: $49 per month per user
- Enterprise: For businesses that require more capabilities, PandaDoc offers a customized solution and package.
Pandadoc provides 24/7 email and chat support on all paid plans.
It is a cloud-based contract management platform that comes with a range of beneficial features for managing contracts.
- Centralized document storage
- Search functionality
- Document filtering
- Key date reminders
- Custom document types
- User roles & permissions management
- Amendment tracking
- API access
- User-defined fields
- Automatic OCR
- Contact upload by email
- User access controls
- Search inside scanned documents
- Unlimited users
- Version control
- Document management
ContractSafe has a subscription-based pricing plan. A free trial is also available.
- Basic: $299 per month unlimited users
- Standard: $499 per month
- Professional: $699 per month
- Enterprise: $899 per month
Read this blog to know the top Contractsafe alternatives present in the market that help businesses create and manage contracts in an organized manner.
It is a cloud-based CLM solution that is suitable for businesses of varying scales. This ContractWorks alternative helps organizations create accurate contracts, edit, manage, and automate them with ease.
- Pre-built contract templates
- Electronic signature
- Workflow creation
- Authoring of contracts
- Capabilities to search
- Contract data reporting and analysis
- Automatic alerts and reminders
This software comes with a 14 day free trial. The paid plans include:
- Team: $399 per month
- Enterprise: $999 per month
Both plans provide only a limited number of users.
Nintex is a process management and automation software. It is easy to use and automates business processes and workflows quickly.
- Document generation
- Document automation
- Customized branding
- Data unification
- Workflow automation
- Real-time process monitoring
- Integration with business systems
- Process analytics
The software offers different services. You can choose a plan based on your contract management function.
- Nintex Workflow: package starts from $910 per month
- Nintex AssureSign: package starts from $2 per envelope
Please note that all the information in this blog is taken from company websites, comparison websites such as GetApp, G2, Capterra, Gartner, and others. Since companies keep adding features, some of the information may be out of date. Let us know at email@example.com if there’s any information that needs to change. We’ll verify and update as quickly as possible.
Heading towards the best choice!
Contract management is a crucial part of running any organization in an orderly manner. Traditional means of handling contracts consume a significant amount of time and resources of the company.
The efficient features and benefits of all the above-listed ContractWorks alternatives will help you take a leap towards a more systematic method of contract management.
Be it any category of contract, a feature-loaded solution like Revv can really make the difference. By clinically managing your entire contract lifecycle through automation, artificial intelligence, and advanced functionalities, Revv can accelerate productivity and in turn, business success.
Evaluate your needs precisely and choose the one that resonates the most with you.