Are you searching for the perfect Contract Lifecycle Management (CLM) software? Search no more! We have compiled a list of the 15 best CLM software suitable for small and large businesses. Explore our selection to identify the right program to take your company’s contract management system to the next level!
What Is Contract Lifecycle Management (CLM)?
CLM is the way to centralize contract storage, reinforce compliance standards, and automate the creation, execution, and management of any contractual agreement.
What is Contract Lifecycle Management Software?
CLM software is used to streamline the contract process, providing teams with easy-to-use templates to generate contracts quickly.
It offers a comprehensive set of solutions for initiating contracts, authoring them, negotiating terms, executing the agreement, and monitoring post-execution performance, such as renewal considerations.
The Benefits of Contract Lifecycle Management Software
Improved Contract Authoring
Admins can save time and effort by utilizing CLM solutions to generate accurate contract templates stocked with a vast array of pre-approved clauses.
In addition, introducing organization-wide policy changes is easy with templates. Admins can quickly update the clause library for everyone to use, ensuring that all contracts are written in the most current language.
Risk Mitigation
Contract management software improves data security at each stage of the contract lifecycle. In most cases, two-factor authentication or other security measures are featured to ensure safety.
Also, contract management software allows tracking users’ activities at all contract stages and sometimes across integrated systems.
Improved Contract Compliance
Contract management software helps to keep track of the necessary steps in contract creation and maintenance – it simplifies the process by enabling administrators to monitor activities, from creating contracts to managing them continually and guaranteeing that all amendments are correctly addressed.
Increased Visibility
Contract management software provides centralized storage that improves visibility into complete contract details. It makes locating and retrieving necessary information easier while tracking all users’ activities. In addition, it helps all stakeholders to work efficiently as a team.
Improved Efficiency
Contract lifecycle management software enables admins to automate and improve the contract lifecycle management process. It eliminates manual activities, repetitive tasks, and other process wastes.
Improved Contract Execution and Renewal
Contract management software improves contract execution with automated approval and e-signatures, eliminating delays and disruptions. Its automatic notification and alerts support the contract renewal process.
Here are my top picks for the best CLM software in 2023
1. PandaDoc
PandaDoc is one of the best complete Contract Lifecycle Management (CLM) software with a diverse range of features designed to simplify the entire lifecycle of developing, signing, negotiating, and managing contracts.
Negotiate contract terms such as pricing, delivery dates, payment schedules, and more effortlessly using PandaDoc’s collaborative management platform.
Customize each client’s agreement to suit their needs or utilize the customizable contract templates for a quick turnaround.
PandaDoc CLM features include:
- Content and contract library
- Contract duplication
- Electronic signature
- Real-time notifications
- Payment processing
- Accounting Integration and Activity Dashboard
- Activity Tracking and Audit Management
- Audit Trail and Authentication
- Automated Quoting and Collaboration Tools
- Cataloging/Categorization
- Completion and Compliance Tracking
- Configurable Workflow and Customer Database
- Customizable Branding and Dashboard
2. DocuSign
DocuSign is a one-stop shop when it comes to contract lifecycle management software. With its highly sought-after surfacing trends, the software allows you to identify risks early on in the process.
Its artificial intelligence-powered analytics comes with powerful insights and can automate tedious tasks like document verification, saving time and effort.
The real power of DocuSign lies in its business intelligence that provides high-level visibility into agreements, along with intuitive dashboards for tracking and surfacing critical data across multiple facets of an organization.
DocuSign CLM features include:
- Configurable workflows
- Centralized dashboard of contract repositories
- Contract document generation
- AI-powered contract analytics
- Clause library
- Customized workflow templates
- Renewal tracking and Rish scoring
- Collaboration & Sharing
- Alerts/Notifications and Collaboration Tools
- Completion and Compliance Tracking
- Electronic Signature and Full-Text Search
- Pre-built Templates and Specialty Contracts
3. ContractWorks
ContractWorks is one of the best Contract Lifecycle Management Software. It provides a contract repository with secure storage and organized categories to search for access quickly and store contract documents.
ContractWorks also includes powerful reporting and alerting capabilities to track goals and milestones easily. Additionally, ContractWorks offers a Smart Workflow based on customizable notifications that ensure contracts follow their journey through the workflow quickly and accurately.
From creating a draft to delivering an electronic signature, ContractWorks makes it easier than ever for teams to manage contracts effectively and efficiently.
ContractWorks CLM features include:
- Automatic smart contract outlines
- Automatic recordkeeping
- Annotations for quick, easy document review
- OCR and advanced search capabilities
- Automated reminders
- Electronic signature
- Alerts/Notifications and Audit Management
- Completion and Compliance Tracking
- Customizable Fields and Reports
- Data Import/Export and Extraction
- Digital and Electronic Signature
- Full-Text Search and Real-Time Notifications
4. Concord CLM
Concord is an exceptional Contract Lifecycle Management solution, ideal for businesses of all sizes – from small startups to large corporate entities. Its powerful search and storage capabilities enable users to access, track and store crucial data quickly and securely.
It makes document drafting, internal approval processes, and external negotiation efficient and straightforward. The comprehensive reporting features allow for seamless data analysis, demonstrating Concord’s thorough and efficient management approach across the entire contract lifecycle management.
Concord CLM features include:
- Live editing
- Redline, comment, and chat
- Template storage and Autofill smart fields
- Full-text optical character recognition (OCR) search
- Deadline reminders and Built-in e-signature function
- Data Security and Configurable Workflow
- Customizable Branding and Fields
- Data Extraction and Import/Export
- Drag & Drop
- Electronic Signature and Signature
- Email Management
5. Outlaw CLM
Outlaw is one of the market’s most comprehensive and secure contract life cycle management software. Its advanced legal solution templates make it easy to create contracts from start to finish, with a streamlined electronic workflow for quick processing and secure storage.
Contract data are stored in a central vault for easy retrieval, keeping all vital information within reach when needed. Outlaw is intuitive for those seeking an end-to-end deal flow that includes advanced security measures. Also, it is unique in its interoperability with related processes and SaaS systems.
Outlaw CLM features include:
- Native e-signature capabilities
- Cloud-based redlining
- Secure payment processed by Stripe
- Real-time notifications
- Full-text search
- Self-service templates
- Dynamic contract fields
- Activity Tracking and Alerts/Notifications
- Completion and Compliance Tracking
- Customizable Branding and Fields
- Digital and Electronic Signature
- Full-Text Search and Pre-built Templates
6. Ironclad CLM
Ironclad is a standout Contract lifecycle management software that offers unparalleled features to streamline even the most complex contract processes.
Workflow designer enables organizations to simplify and automate those complex workflows via simple drag-and-drop design tools and no-code capabilities. Ironclad’s intuitive search capabilities make it easy for all users to access the correct information quickly and accurately.
Reports, metrics, dashboards, and more provide deep insights into contract operations that enhance reliability, accuracy, compliance, and performance.
Ironclad CLM features include:
- Digital workflows
- Real-time contract collaboration
- Compliance capture features
- Centralized repository of contracts
- Activity Dashboard and Activity Tracking
- Approval Process Control and Data Extraction
- Customizable Fields and Reports
- Data Import/Export and Full-Text Search
- Digital and Electronic Signature
7. Agiloft
Agiloft is a leading Contract Lifecycle Management (CLM) software. It proactively monitors and manages contracts, maximizing performance and efficiency.
Convo AI provides an intuitive search with unparalleled accuracy to find data quickly. Reports are easily accessible by leveraging AI-powered analytics, making it easy to stay on top of contract deadlines and financials.
Agiloft also integrates seamlessly with internal and other existing systems and optimizes custom workflows across the enterprise, saving time and money throughout the contract lifecycle.
Agiloft Contract Management Suite features include:
- Unlimited templates for clauses and automated workflows
- Customizable reports and dashboards
- Centralized repository of contracts
- Text-rich contract search
- Approval automation
- Streamlined contract reviewal process
- Free online training
- Contract authoring
- Clause library
- Content repository
8. Conga
Conga Contracts is a game-changer for contract lifecycle management. It offers an end-to-end automated solution, allowing organizations to create, store, access, and review contracts easily.
Designed to make contract management more straightforward and more efficient, enterprises can now reduce overhead costs and boost compliance.
Through its unique approach, Conga Contracts allows users to automate and standardize their process for tracking, negotiating, and signing contracts, in addition to secure storage of all contracts with versioning control.
Conga Contracts features include:
- Contract lifecycle automation and management
- Process automation and Workflows
- Transactional contract execution
- Contract/License Management
- Customizable Fields and Reports
- Customizable Templates and Monitoring
- Data Extraction and Data Import/Export
- Digital Signature and Electronic Signature
- HIPAA Compliant and Real-Time Notifications
- Reporting & Statistics and Third-Party Integrations
- AI-powered data extraction for risk tracking and managing opportunities
9. SAP Ariba
SAP Ariba is the perfect solution for comprehensive contract lifecycle management. This software creates quick and accurate contracts, making it easier for businesses to manage their contracts with clients and vendors.
From initiation to contract renewal, users can effectively manage their time and resources by leveraging the advanced features that SAP Ariba has to offer. The intuitive interface allows users to create deals quickly, taking advantage of tailored sourcing functions to optimize cost savings.
By streamlining this process, businesses can make more efficient operations with better results in budgeting, tenders, and renewals.
SAP Ariba Contracts features include:
- Procurement and sales contract management
- IP licensing and CLM automation
- Contract document creation and process management
- Standardized compliance
- Reporting/Analytics
- Team Collaboration
- Compliance Tracking and Data Extraction
- Electronic Signature and Full-Text Search
- Other Contract Management Solutions
10. Icertis
Icertis Contract Lifecycle Management (CLM) software provides easy-to-use and easy-to-implement solutions that automate contract authoring, negotiation, review, and approval processes in the cloud.
Its automated processes ensure users complete visibility into their contracts across their entire organization. Also, all transactions within Icertis CLM are auditable through easy-to-generate reports.
Furthermore, it also helps users integrate third-party app data into existing processes to unlock customer insights. As a result of its open architecture platform designed with enterprise customers in mind, Icertis CLM offers value at the individual and organizational levels.
Icertis Contract Management Software features include:
- AI-powered contract creation
- Automated contract management
- Governance, risk, and compliance tools
- Proposal management
- Activity Dashboard and Alerts/Notifications
- Approval Process Control
- Audit Management and Compliance Tracking
- Configurable Workflow
- Customizable Fields and Reports
- Customizable Reports and Data Extraction
- Digital Signature and Electronic Signature
- Renewal Management and Reporting/Analytics
- Template Management and Third-Party Integrations
11. Evisort
Evisort is one of the best AI-powered contract lifecycle management software. It can unlock AI-driven contract intelligence, allowing businesses to quickly integrate, collaborate, analyze, and report on agreements.
Utilizing AI algorithms designed for accomplishing numerous tasks rapidly and accurately enables days of manual work to be automated within a few clicks, saving contract administrators and users lots of time and money in the long run.
Evisort features include:
- AI-powered contract analytics
- Contract automation and Intelligent Contract Creation
- Contract linear repository
- A large amount of enterprise software integrations
- Risk mitigation approval processes
- Activity Tracking and Collaboration Tools
- Compliance Management
- Customizable Templates
- Data Extraction and Digital Signature
- Full-Text Search and Pre-built Templates
- Specialty Contracts and Status Tracking
- Third-Party Integrations and Version Control
- Workflow Management
12. Contract Logix
Contract Logix is the go-to Contract Lifecycle Management (CLM) software for companies looking to streamline and optimize their Contract process. With built-in contract automation tools, contract Logix ensures that contracts are accurate and up-to-date.
Contract Logix also offers a complete set of tools for creating and authoring contracts, plus options for advanced automat enhancements to streamline operations.
Contract Logix puts control back into businesses’ hands, allowing them to run more smoothly while providing more insight into the legal side of their organization in an easy-to-use platform.
Contract Logix features include:
- Secure contract centralization
- Dynamic clauses and template libraries
- Versioning, e-signature, and other real-time collaboration features
- Automated workflows and Compliance alerts
- Activity Tracking and Data Extraction
- Reporting/Analytics and SSL Security
- Alerts/Notifications and Audit Management
- Completion Tracking and Compliance Tracking
- Configurable Workflow and Customizable Templates
13. SirionLabs CLM
SirionLabs CLM offers unparalleled visibility and control for organizations looking to manage contracts and obligations effectively and securely.
With its digital workflow, smart clause libraries, collaboration tools, and integrated compliance platform, SirionLabs is the perfect choice for streamlining contract lifecycle management.
It eliminates manual processes while adding convenience and reliability. Plus, its AI-driven insights provide a first-of-its-kind negotiating power that helps companies maximize their profits in any situation.
SirionLabs CLM features include:
- Contract document creation and management
- AI-powered analytics and Smart workflows
- AI-powered data extraction and Intelligent Contract Creation
- Smart clause libraries and Team Collaboration
- Compliance process automation
- Contract Repository and Contract Analytics
- Authoring and Negotiation
- Contract Review & Redlining
- Electronic Contract & E-signature
- Contractual Obligation Management
14. CobbleStone
CobbleStone Contract Management Software is one of the best CLM for managing any contract lifecycle process. Fast setup and installation of the software allow contract administrators to be ready to manage contracts in no time.
The user-friendly interface makes the software easy to use, ensuring a smooth contract management experience. Its configurable features can be tailored to organizations’ specific requirements, offering clear visibility into all stored contracts.
Furthermore, flexible user permissions allow administrators to define what level of access each user requires, helping maintain secure yet effective contract management.
An added benefit of CobbleStone is that it can easily integrate with other systems for quick and efficient storage and retrieval of contracts.
CobbleStone Contract Insight features include:
- Secure online storage
- Custom contract reporting and search features
- Financial tracking tools
- Real-time collaboration and contract versioning
- Automated workflows and Digital Signature
- Clause and contract library of templates
- Access Controls/Permissions
- Collaboration Tools and Completion Tracking
- Compliance Management and Tracking
- Customizable Branding, Fields, Reports, and Templates
- Data Extraction and Import/Export
- Document Automation and Storage
- Real-Time Data, Notifications, and Reminders
- SSL Security and Secure Data Storage
- Multiple Contract Management Solutions
15. Gatekeeper
Gatekeeper is one of the best contract lifecycle management software. It centralizes the disparate elements of managing contracts, ensuring they’re streamlined and efficient.
Its configurable framework allows users greater control over their data and features. AI Extract provides an intelligent way to process unstructured text in contracts, while integrated storage options make securing data easy and reliable.
And that’s not all: Gatekeeper can even generate MS Word templates for faster document creation.
Gatekeeper CLM features include:
- Knowledge-Based Authentication
- Multi-Factor Authentication
- Multiple User Accounts
- PCI Compliance
- Policy Management
- Privileged Account Management
- Real-Time Analytics, data, Monitoring, and Reporting
- Remote Access/Control
- Remote Monitoring & Management
- Risk Alerts and Role-Based Permissions
Executive Summary
Considering the complexities of contract management, all organizations need to have the appropriate CLM software to ensure effective governance and accountability and to avoid missteps that could affect their future.
Below are our top picks
- Best Overall: PandaDoc
- Best For Small Businesses: DocuSign
- Best for Large Businesses: Concord
- Best for Reporting: Outlaw
- Best for Customization: Agiloft
- Best for Automation: ContractWorks
