Contract Lifecycle Management (CLM) Software

Get the best contract lifecycle management (CLM) software for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

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Icertis Contract Intelligence Screenshot
The Icertis Contract Intelligence (ICI) platform is a contract management solution in the cloud. ICI’s easy-to-use, intelligent, enterprise contract management software transforms the foundation of commerce by turning contracts into valuable corporate…
Client OS
Web
Deployment
Cloud Hosted
Juro Screenshot
Juro is a contract collaboration platform that helos your team self-serve, agree and manage routine contracts at a large scale-all with one unified solution. The contract management software provides a no-code editor that enables users to create…
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Starting Price
$450/month
Client OS
Web
Deployment
Cloud Hosted
Ariba Contract Management Screenshot
Effective contract management has emerged as a crucial function to improve profitability, support compliance and manage risk. Yet, many companies continue to struggle to locate their existing contracts let alone manage them. And onerous legal procedures…
Client OS
Deployment
Cloud Hosted
Axxerion Screenshot
Axxerion is an easy-to-use and highly configurable CLM system. The software helps your business centralize contract storage, enforce compliance, and streamline the entire contract lifecycle. Contract Request Management; Central Contract and Document…
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
Conga CLM Screenshot
Conga CLM
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Conga CLM is a modern contract management solution for conducting business in a digital world. The powerful features of this software streamline contract management processes. Speed up your contract process with Conga CLM. Set up a clause library…
Client OS
Mac, Web, Windows, iOS, Android
Deployment
Cloud or On-Premises
Coupa CLM Screenshot
Coupa CLM
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(1)
Coupa CLM software increases value while decreasing risk! This contract lifecycle management system provides control and efficiency across the entire contract lifecycle, allowing contracts to be operationalized for maximum value. This platform automates…
Client OS
Deployment
Cloud or On-Premises
PandaDoc Screenshot
PandaDoc is a digital document solution. Create, send, track, and eSign documents — all from one intuitive and easy-to-use platform. Supercharge your CRM with the PandaDoc integrations. PandaDoc is an ideal platform for managing organizational documents…
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Starting Price
$9/month/user
Client OS
Web
Deployment
Cloud Hosted
Contract Insight Screenshot
Contract Insight
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Contract Insight is an enterprise contract management software from Cobblestone Software. The solution provides next level contract management that automates and centralizes your contracts, agreements, committals, risk documents, and obligation records…
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Starting Price
$59/month/user
Client OS
Web
Deployment
Cloud Hosted
Agiloft Screenshot
Agiloft is a contract lifecycle management software that helps your sales team avoid chasing down contract approvals, analyzes and monitors vendor obligations, automates compliance while reducing risk, and integrate with your existing enterprise systems…
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Starting Price
$65/month/user
Client OS
Web
Deployment
Cloud Hosted
Gatekeeper Platform Screenshot
The Gatekeeper Platform is a next-generation, AI-driven solution for all-in-one contract and supplier management. Use this solution to manage contract renewals, vendor relations, and all company processes. This software is designed for: Procurement teams…
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Starting Price
$775/month
Client OS
Web
Deployment
Cloud Hosted
Oracle EPM Cloud Screenshot
Client OS
Mac, Web, Windows, Linux, iOS, Android
Deployment
Cloud Hosted
CMx ContractExperience Screenshot
CMx ContractExperience is a Contract Lifecycle Management (CLM) Software Solution that can operate in the cloud or on premise. The software will keep your business legally compliant when automation and optimizinng your contract management processes. This…
Client OS
Web
Deployment
Cloud Hosted
Symfact Screenshot
Symfact is an enterprise life cycle management software that helps save time & money, reduce risk and increases compliance in your contract management needs. The complete integrated suite of products handle all contract and compliance requirements your…
Client OS
Mac, Web, Windows
Deployment
Cloud Hosted
ContractWorks Screenshot
ContractWorks is an easy-to-use contract management software that provides an affordable way to quickly and reliable get a handle on your contract obligations. Manage upcoming contract deadlines and milestones; Access your documents in a centralized…
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Starting Price
$600/month
Client OS
Web
Deployment
Cloud Hosted
Softrax Contrax Screenshot
Softrax Contrax enables you to manage contracts that involve complex subscription or transaction billing. Easy implementation of new contract-based business models, automated billing and revenue recognition, simplification of contract administration, and…
Client OS
Windows, Web
Deployment
Cloud Hosted
Workday Screenshot
Workday
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Workday is enterprise software that provides financial management and human capital management functionality for companies across a variety of industries: Financial Services; Healthcare and Life Sciences; Higher Education; Manufacturing; Retail and…
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Web
Deployment
Cloud Hosted
e-Contracts Screenshot
Contract entitlements, usage, software licenses, warranty costs and renewals can be one of your most significant assets and managing them effectively are essential to your profitability. Epiphany’s e-Contracts is an end-to-end contract management solution…
Client OS
Web
Deployment
Cloud Hosted
Ivalua Screenshot
Ivalua
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Ivalua is a complete procurement platform that provides a unified source-to-pay suite of solutions and functionalities to digitize all processes, manage all spend categories, and improve transparency and data quality. There are a number of solutions…
Client OS
Mac, Windows
Deployment
Cloud or On-Premises

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Contract Lifecycle Management (CLM) Software Buyer’s Guide

What is Contract Lifecycle Management (CLM) Software?

Contract lifecycle management (CLM) is the control of legally-binding contracts from the moment they are awarded until they are finally fulfilled. A subset of contract management systems, which is more broad in scope, CLM software focuses specifically on authoring requests, coordinating negotiations, gaining signatures for approvals, and any contract renewals.

CLM software covers these major steps of the contract process:

  1. Capture data: Gather all of existing paper contracts and digitize them into a CLM database
  2. Track contracts: Monitor all important contract data in real-time for existing and newly signed contracts
  3. Author: Set up contract templates in order to expedite the creation of new contracts
  4. Create: Build brand new self-service templates or “patch” contracts negotiated with clients
  5. Approve: Carefully ensure all contracts are reviewed and approved by the right person to cut down on risk
  6. Negotiate: Suggest and review changes during the procurement process
  7. E-Sign: Electronically validate final contracts with digital signatures
  8. Analyze: Perform in-depth analysis of completed contracts to find future opportunities for improvement

Every one of these steps is a vital part of the contract lifecycle. CLM software automates contract management workflow while also increasing procurement visibility for all relevant parties. The end result is streamlined contract execution, higher compliance, and fewer risks.

Icertist Contract Intelligence
Customize your CLM dashboard with Icertist Contract Intelligence.

Features of Contract Lifecycle Management Software

  • Contract creation: Use templates with pre-approved language and terminology to draft and edit contracts with all required fields and clauses
  • Ad hoc reporting and analyzing: Sort through all your contract data to create custom reports you can filter and categorize; Review useful insights on contract cycle times in order to improve future contracts
  • Approval management: Create a contract approval process during the negotiation and review process to ensure all relevant approvals are present
  • Electronic signatures: Digitally sign documents and collect signatures from all involved parties electronically
  • Contract execution: Electronically validate all signed, legally-binding contracts using traditional signatures or QR codes
  • Contract repository: Create long-term storage for contracts for the purpose of indexing, analyzing, and linking relevant documents to key accounts
  • Automated alerts and notifications: Set reminders for contract renewals or expiration dates
Conga CLM
Conga CLM uses absract flow design panels to streamline negotiations.

Best Contract Lifecycle Management Software Benefits

There are many benefits to introducing a CLM software to your business practices:

Streamline Negotiations

CLM software provides customizable contract templates suitable for all sorts of industry-specific deals. These highly configurable templates can be augmented by a clause library, full of everything a potential contract needs before completion.

CLM software is available on-premise or through Cloud-based platforms. Both of these offer numerous advantages, particularly for industries requiring fast turnaround times when negotiating deals. Keeping contracts stored in a Cloud-based CLM platform means updated documentation can be shared with all parties in an instant.

E-signature tools provided by CLM solutions further expedite the contract process by allowing multiple users to sign documents completely online. No more waiting for couriers, faxes, or in-person meetings to finalize deals. Just streamlined collaboration between all parties.

Remain Compliant

Contracts are legally-binding documents; as such, all clauses contained therein must remain fully compliant. Keeping track of each separate contract and clause can be a hassle without a comprehensive organizational system. Fortunately, CLM software automates obligation tracking processes to increase compliance, reduce liability, and improve risk management practices. This is particularly beneficial in industries which must adhere to strict government regulations.

Reporting features allow you to keep tabs on contract progress, both those you are developing and those made by external third-parties. Regular updates will keep everyone informed of new developments or changes to the original contract deal. And redlining tools provide a highly visible audit trail, further protecting your business interests.

Digitize Paper Contracts

Perhaps the most interesting benefits provided by CLM software is the ability to fully digitize existing paper contracts for storage in a central repository. The data contained in these contracts can then be searched for using the software based on set parameters, such as client or company name, date of origin, or contractual obligations. For example, an entire contract originally written in Microsoft Word can be brought into the repository without the need to manually re-enter the information.

Finally, many popular CLM software options are compatible with enterprise resource planning (ERP) and accounting software. Along with digital contracts, this user-friendly integration with additional types of software helps streamline your entire workflow.

Axxerion Software
Store digital contracts with Axxerion.

Contract Lifecycle Management by Industry

Companies all over the world rely upon carefully crafted contracts in order to operate. The industries which benefit most from CLM software include:

  • Finance and banking
  • Government
  • Healthcare
  • Human resources (HR)
  • Legal and law firms
  • Sales and marketing
  • Procurement

Of course, any industry which uses contracts can utilize contract lifecycle management software to streamline processes.

How is CLM Different from Contract Management?

At first glance, contract lifecycle management software may not seem that different from general contract management solutions. In fact, it’s not uncommon for “contract lifecycle management” and “contract management” to be used interchangeably. However, there are a few notable differences to consider.

First, contract management solutions generally have more broad features, reaching out into streamlining workflow management. Along with creating a contract, the idea is to use the software to also manage whatever the contract relates to, like accounting or budgeting on the project. In contrast, CLM is hyper-focused on optimizing each step of the contract acceptance process through final execution and renewal.

Additionally, CLM is more commonly used in enterprise-level systems, as these larger corporations tend to have more diverse contract needs. Essentially, CLM is designed to offer slightly more specific services than what a baseline contract management software has.

Pricing of CLM Software

The right contract lifecycle management software for your business will depend on several factors, including costs. Fortunately, there is a wide range of solutions available for every price point. Low cost CLM software starts at $59 per user per month while solutions on the upper end of the price spectrum can reach as high as $775 per month.

The exact pricing is generally determined by the amount of contracts you’ll be creating and storing in the software, and the number of users. Minimum user requirements may raise the total price for subscription-based payment models. Other perpetual license options may have fees for implementation, training, and annual upkeep.