Helpful Summary
- Overview: This article will provide an overview of five great contract management tools that offer free plans with enough value to be viable as a small business’s main way to manage contracts.
- Why you can trust us: We’ve spent thousands of hours building and testing contract management software, so we know what to look for.
- Why this is important: Poor contract management leads to an average revenue hit of 9.2%, but many contract management tools are too expensive for small businesses.
- Action points: Our top picks are SignWell, Oneflow, Jotform Sign, DocuX, and Agiled. We’ll outline the features, pricing, and advantages of each to help you decide.
- Further research: If you’re looking for a great paid tool that doesn’t break the bank, check out our guide to the best small business contract management software. If you’re an enterprise user, we also have a guide to the best enterprise contract management tools.
Need Help Finding Free Contract Management Software?
Contracts safeguard your company and ensure compliance with obligations to clients, customers, and other businesses. In other words, they’re extremely important—important enough to warrant a dedicated contract management software.
Organizing, tracking, searching, and storing your contracts with a tool is the most efficient way to get the job done. But many of these solutions come at a cost—often high monthly fees that can add up over time.
That’s why we’ve rounded up some of the best free contract management software (including SignWell!) in one place. From online tools and cloud storage options to apps and document automation programs, there’s something here for everyone.
Let’s dive in.
Why Listen to Us?
At SignWell, we’ve helped more than 61,000 businesses simplify their contract processes—all without breaking the bank. Our software is designed to be affordable, secure, and easy to use. Plus, we offer a range of integrations so you can easily connect your existing tools and apps.
The bottom line—we know what to look for in great free contract management software. Plus, we’ve spent hours testing different products to make sure that we’re recommending the best of the best.
So, take a look at our list and see which free contract management tools might be perfect for you.
What Is Contract Management Software?
Contract management software is a tool that enables organizations to create, manage, and control contracts in a centralized location. It simplifies the tedious process of managing multiple documents by providing an all-in-one platform that offers real-time visibility into your agreement cycles.
From setting up templates for agreements to tracking their progress until expiration, contract management software makes it easier to meet legal obligations and maintain healthy business relationships with partners and customers.
To give an example, here’s SignWell.
We give businesses a simple, effective way to collect legally binding e-signatures, track document statuses, automate contract workflows, and securely store signed contracts. These features drastically reduce turnaround times, improve accuracy, and free up resources so that you can focus on what matters most.
Benefits of Using Contract Management Software
Simplify Contract Authoring
With modern contract management software, administrators can easily create contract templates using pre-approved language from a clause library. This reduces reliance on legal resources, cuts costs, ensures consistency in contract language, and promotes peer review during the authoring process.
By the end of 2024, contract management systems are expected to reduce manual efforts in reviewing and drafting contracts by 50%.
Customize Approval Workflows
By implementing approval workflows, you can make sure that all internal stakeholders are well-informed about potential opportunities and risks in a contract before it’s executed. This can lead to some pretty impressive efficiency gains—automating contract management processes can actually speed up negotiation cycles by 50%.
Minimize Errors
Contract management software greatly reduces the need for humans to get involved in managing post-execution phases like amendments and renewals. When you automate the contract management process, you can see a significant drop in inaccurate payments, ranging from 75% to 90%.
Criteria To Consider When Choosing A Contract Management Software
User-Friendliness
Look for software that boasts an intuitive and user-friendly interface. This ensures that users across various roles and departments can easily navigate and use the system without extensive training.
Features
Conduct a thorough analysis of the software’s features and functionalities. Identify the ones that align closely with your business requirements. Avoid unnecessary complexities by selecting a platform that offers the features essential for your unique contract management needs.
Integrations
Assess the software’s compatibility with your existing workflows through integrations. Seamless integration with other tools and systems your organization uses can enhance efficiency and facilitate a cohesive operational environment.
Top 5 Free Contract Management Software
- SignWell
- Oneflow
- Jotform Sign
- DocuX
- Agiled
1. SignWell
SignWell is a user-friendly e-signing solution with great contract management features and a solid free plan to get you started.
You can use SignWell to gather legally binding signatures in minutes, track and manage your contracts with ease, and collaborate with others through automated workflows and reminders for document deadlines.
All documents are stored securely, and it’s easy to generate comprehensive audit reports that cover access and alterations.
Key Features
- Free Plan: Sign up for a free plan to get started with basic features and 3 documents monthly.
- E-Signature API: Add e-signature capabilities to any website or app and automate complex workflows.
- Document Management: Keep all your documents organized and secure.
- Audit Reports: Generate reports that cover access and alterations to your documents.
- Contract Templates: Access our library of contract templates—no coding required.
- Reminders: Get automatic reminders for document deadlines so you never miss a due date.
- Workflow Automation: Set signing orders and set up bulk signings to streamline your processes.
Pricing
SignWell provides four pricing options: Free, Personal, Business, and Enterprise.
Our free plan supports 1 sender, 1 template, reminders and notifications, and 3 documents per month. We also offer 25 API documents for free each month, with additional API documents charged on a pay-as-you-go basis.
Pros & Cons
Pros
- Intuitive user interface
- Outstanding customer service
- Users can brand their agreements
- Setting up documents is straightforward
Cons
- Cannot edit documents within the application
2. Oneflow
Oneflow is a contract management system that helps businesses create, store, and track contracts.
It provides features like digital contracts, electronic signatures, seamless integrations, tracking capabilities, and customizable control, making it easier for teams to manage contracts securely and efficiently.
Key Features
- Digital Contracts: Create, sign, and store contracts online without the hassle of printing or scanning documents.
- Electronic Signature: Approve and sign contracts electronically, saving time and money on paperwork.
- Tracking & Data: Track engagement and status of contracts, export metadata, and gain insights into contract metadata.
Pricing
Oneflow offers a range of pricing plans to suit different needs.
There’s a free plan that allows users to send, track, and sign PDF contracts with basic features. For more advanced features like creating, collaborating, and e-signing interactive web-based contracts, users can upgrade to a paid plan for $17 to $45/user/month.
Pros & Cons
Pros
- Easy to use and create templates
- Can be integrated with other tools and systems
- Easy to retrieve stored contracts when needed
Cons
- Users experience problems uploading some documents
- Can be difficult to decode the extracted data initially
- Settings/starting page could be improved
3. Jotform Sign
Jotform Sign is an electronic signature solution that allows users to create, share, and e-sign documents easily.
It offers basic document automation features to streamline contract lifecycles, secure e-signature collection, and integrates with a range of cloud storage services for seamless document management.
Key Features
- Build Documents Easily: Turn existing PDFs into e-sign documents with just a single click.
- E-Signatures: Send and sign contracts, agreements, and other documents securely.
- Document Automation: Streamline workflows by eliminating manual tasks associated with document management.
Pricing
Jotform offers a range of pricing plans to suit different needs.
For starters, there’s a free plan that includes all features with limitations like 10 signed documents and 100 submissions per month. Paid plans range from $34/month to $99/month, with a custom enterprise plan available.
Pros & Cons
Pros
- User-friendly interface, easy to navigate, and create templates
- Lots of integrations
- Widgets, payments, and custom forms are conveniently consolidated in a single access bar
Cons
- Occasional bugs
- The free version has limited features and storage
- Some users have reported that customer support could be improved
4. DocuX
DocuX is an AI-driven platform that helps teams manage the entire lifecycle of their documents and contracts.
It facilitates the creation, collaboration, electronic signing, and secure access control for your documents. Engineered to automate and enhance efficiency, the platform simplifies the management of documents and contracts.
Key Features
- User, Role, and Access Management: Offers access to specific data, features, objects, etc., based on user roles and groups.
- Document Signing: Provides an easy and secure way to sign documents.
- Document and Contract Management: Enables the user to organize, search, and track documents.
Pricing
DocuX has four plans—Personal, Pro, Team, and Enterprise.
The Personal plan is free and includes basic features like AI-Powered DocuX Workspace, collaborative editing, and limited document creation and e-signing. The Pro, Team, and Enterprise plans offer additional features and unlimited usage, with prices ranging from $9 to $59 per month billed annually.
Pros & Cons
Pros
- Provides ample document storage
- The native editor ensures easy collaboration
- Over 500+ legally vetted templates available
Cons
- No option to bulk upload or bulk send documents
- Some limitations in features
5. Agiled
Agiled is a contract management tool that allows for easy creation, management, and renewal of professional contracts. It supports digital signatures for quick deal closures and offers an integrated suite of business management tools.
Plus, its AI features can help you write contracts and proposals, enhancing productivity while minimizing errors.
Key Features
- Contract Creation and Management: Easily create and send professional contracts online with no word count limits.
- Digital Signatures: Collect e-signatures from clients to expedite deal closures.
- Contract Renewal and Download: Renew contracts with a single click and download them as PDF files.
Pricing
Agiled offers four pricing plans—Basic, Pro, and Premium, and Business. The Basic plan is free and provides the essentials. The Pro plan is priced at $25/month (includes 3 users), the Premium plan costs $49/month (includes 7 users), and the Business plan costs $83/month (includes 15 users). Additional users can be added to any plan for $5/user/month, up to a limit of 30 users.
Pros & Cons
Pros
- The team consistently adds new features
- Ease of use
- It provides a wide range of features to meet various business needs
Cons
- The user interface could be improved
- The rapid addition of new features may make it challenging for some users to keep up
Conclusion
Exploring the realm of free contract management software has unveiled various options, each with its unique strengths. Users seeking a minimalist solution may find Jotform Sign ideal, while those looking for comprehensive features and an intuitive UI may lean towards SignWell.
Ultimately, the best choice depends on individual needs and preferences. To embark on an efficient and cost-effective contract management journey, sign up for SignWell—a reliable platform offering user-friendly features and a seamless experience.
Streamline your contract processes effortlessly—sign up for free today.