We Tried the 10 Best Contract Lifecycle Management Software on the Market

Helpful Summary

• Overview: We review ten of the best contract lifecycle management (CLM) software on the market to help you find the best tool for your business.
• Why you can trust us: SignWell has helped 61,000+ businesses simplify e-signing and contract management processes.
• Why it matters: Using CLM software is important for enhancing operational efficiency, increasing revenue, and ensuring compliance and security in contract management.
• Action points: Our recommendations include SignWell, LinkSquares, Ironclad, Icertis Contract Management, DocuSign CLM, Conga Contracts, Agiloft Contract Management Suite, ContractWorks, CobbleStone Contract Insight, and ContractSafe.
• Further research: Check out the SignWell blog for more insights into CLM and e-signature solutions.

Looking for the Best CLM Software?

With contracts forming the backbone of virtually every business transaction, the need for streamlined and automated solutions has never been more critical. Recent statistics underscore the transformative power of incorporating contract lifecycle management (CLM) software into organizational workflows. 

Here’s a particularly eye-opening stat—automating contract management can cut negotiation cycles by a whopping 50%, while also reducing inaccurate payments by 75% to 90%.

At SignWell, we understand the importance of CLM software in redefining how businesses handle contracts, from creation and negotiation to execution and beyond. In this guide, we look into the ten best CLM software solutions that will help organizations navigate the complex landscape of agreements.

Let’s dive in.

Why Listen to Us?

Choosing the right contract lifecycle management (CLM) software is crucial—but risky. There are numerous factors to consider (like features, integrations, and pricing), and if you make the wrong choice, it can result in wasted time, money, and resources.

At SignWell, we’ve helped 61,000+ businesses streamline their contract management processes. Our team has extensive experience in the industry and has researched and tested various CLM software solutions to provide you with unbiased, expert recommendations.

But first…

What Is Contract Lifecycle Management Software?

CLM software is a broad category of tools that are designed to make some (or all) aspects of the contract management process more efficient. This includes creating, negotiating, reviewing, and storing contracts, as well as tracking key dates, and managing renewals or amendments.

There are a lot of different features and functionalities that fall under the umbrella of CLM software—including:

• E-signature capabilities: Many CLM solutions offer the ability to digitally sign contracts, reducing the need for printing, scanning, and mailing physical copies.
• Contract templates and clause libraries: Some software includes pre-built templates and clause libraries to help streamline contract creation and ensure consistency across contracts.
• Workflow automation: This feature allows you to create standardized workflows for contract approval and review processes, saving time and reducing errors.
• Integrations: CLM software often integrates with other tools like CRM systems or document management software, making it easier to manage contracts within your existing workflow.
• Reporting and analytics: With advanced reporting capabilities, you can gain insights into your contract data and track key metrics like contract cycle times or renewal rates.

Overall, CLM software exists to help you win back time (and resources) by streamlining contract management processes, improving accuracy and consistency, and providing insights that drive sound business decisions.

Benefits of Contract Lifecycle Management Software

Increased Efficiency and Revenue

CLM software can significantly enhance operational efficiency and, by extension, profitability. It’s estimated that improved contract management could boost a company’s annual revenue by approximately 9%​​.

The software streamlines the contracting process, allowing for faster contract turnaround times through automation, which in turn expedites revenue generation and the establishment of valuable partnerships​​.

Comprehensive Version Control and Real-Time Collaboration

CLM software facilitates version control by tracking changes and enabling real-time collaboration, thus ensuring that all parties are working with the most current document version​​. This capability is particularly valuable during negotiations, where multiple document versions can create confusion and slow down approvals. 

Enhanced Security and Compliance

With CLM, contracts are stored securely in a centralized repository, safeguarding sensitive information and ensuring easy compliance with audit and governance requirements​​. Automated approval workflows further reduce compliance risks by ensuring contracts go out with proper approvals​​. 

Data shows that CLM software can boost compliance by 55%.

What to Consider When Looking for Contract Lifecycle Management Software

When you’re looking into CLM software, there are a few requirements to consider:

Ease of Use

The success of any software implementation hinges on its usability. Choose a contract management software that’s intuitive and user-friendly. A system that’s easy to navigate will result in quicker adoption by team members, reducing the learning curve and enhancing overall productivity. 

The goal is to empower users to manage contracts efficiently without unnecessary complications.

Security

Security is paramount when dealing with sensitive contract data. 

Make sure that the contract management software you choose incorporates robust security measures. This includes encryption protocols, access controls, and regular security updates. The software should also comply with industry standards and regulations to safeguard your organization’s sensitive information.

User Roles and Permission Settings

Not all team members need the same level of access to contract information. 

The ability to define user roles and permission settings is important for maintaining data integrity and ensuring that only authorized personnel can access sensitive contract details. This feature allows organizations to tailor access levels based on individual responsibilities and enhances overall data security.

10 Best Contract Lifecycle Management Software

1. SignWell
2. LinkSquares
3. Ironclad
4. Icertis Contract Intelligence
5. DocuSign CLM
6. Conga Contracts
7. Agiloft Contract Management Suite
8. ContractWorks
9. CobbleStone Contract Insight
10. ContractSafe

1. SignWell

SignWell is an e-signing tool that offers a range of document management, automation, and reporting features to simplify the entire contract lifecycle.

With SignWell, you can easily create, send, track, and sign contracts online with features like bulk sending, ready-to-use contract templates, and a no-download, no-signup signing process. We also offer a range of automation features like notifications and signing orders to slash turnaround times.

All documents are stored securely with advanced encryption, and it’s easy to track document statuses via your dashboard.

Key Features 

• Legally Binding E-Signing: Collect legally binding contacts at scale with our industry-leading signing process.
• E-Signature API: Add legally valid e-signatures to your product or service or automate your workflows.
• Document Templates: Save common contracts as templates or use one of SignWell’s pre-built contract templates.
• Document Dashboard: Track the status of all your contracts in one centralized location.
• Notifications and Reminders: Get automated reminders about upcoming deadlines, renewals, and obligations.
• Access Permissions: Set permissions for different users to determine who can view, edit, or sign specific documents.
• Audit Trails: Generate comprehensive audit reports for enhanced accountability.
• Integrations: Integrate with 5,000+ tools, apps, and services including Salesforce, Google Drive, and Dropbox.

Pricing

SignWell offers a range of pricing plans to cater to different needs.

We offer a free plan that lets 1 user send 3 documents per month. Beyond that, we offer three paid plans—Personal ($8/month for 1 sender), Business ($24/month for 3 senders), and Enterprise (custom).

We also offer a pay-as-you-go pricing model for our API, where you are charged based on your usage. Billing takes place every 30 days, and if you opt for an annual payment, you’ll receive a 10% discount applied to your account.

Pros and Cons

Pros

• Easy to use
• Affordable
• Simple and quick to set up
• Great set of e-signing and CLM features

Cons

• No built-in document editor

2. LinkSquares

LinkSquares is a CLM platform powered by AI, designed to provide deep insights into contract portfolios, accelerate contract processes, and integrate with key systems. Established in 2015, it offers both pre-signature and post-signature functionalities tailored for modern legal teams. 

Key Features 

• AI-Powered Insights: Automatically extracts 100+ key pieces of contract information (parties, critical dates, clauses, etc.).
• Comprehensive Contract Management: Offers both pre-signature and post-signature functionalities like templating, drafting, and secure contract storage.
• Integration Capabilities: Integrates seamlessly with essential business systems for real-time data flow.

Pricing

Pricing for LinkSquares Cloud isn’t publicly available. Contact the team to request a quote.

Pros and Cons

Pros

• Clean interface and easy-to-use
• Simplifies accessing and sharing contract content
• AI technology addresses key pain points in contract management
• Responsive customer service 

Cons

• Pricing could be more competitive
• Migration can be challenging
• Features like task scheduling are limited

3. Ironclad

Ironclad is an AI-powered CLM platform that aims to simplify the creation, collaboration, and management of contracts. It’s designed to enhance productivity and streamline legal operations by automating contract workflows and providing a centralized repository for contract storage and analysis.

Key Features 

• Reporting and Analytics: Provides insights into the contract portfolio with comprehensive reporting tools.
• Contract Authoring and Approval: Supports the creation of contracts with legal controls and an automated approval process.
• Clause and Repository Management: Includes a clause library and a searchable repository for efficient contract storage and retrieval.

Pricing

Contact the Ironclad team directly to request a customized quote. 

Pros and Cons

Pros

• Offers a unique set of features
• Boosts productivity 
• Offers an AI-powered repository
• Provides dynamic template creation capabilities

Cons

• Steep learning curve
• Some customers noted poor customer support response times
• Onboarding and integration challenges

4. Icertis Contract Intelligence (ICI)

Icertis Contract Intelligence (ICI) is a comprehensive solution designed to optimize the entire contract lifecycle, from creation through execution, management, and renewal. ICI is celebrated for turning contracts into strategic assets, helping organizations streamline processes, reduce risks, and enhance operational efficiency.

Key Features 

• Contract Authoring and Collaboration: Supports comprehensive contract authoring features, including templates, clause libraries, and a PDF generator. 
• Contract Monitoring: Offers a wide range of features for monitoring including a centralized contract database, search functionalities, milestone reminders, and custom contract reports.
• Integration and Compliance: Offers extensive integration capabilities with major platforms such as Salesforce, Microsoft Dynamics, and Adobe Sign.

Pricing

You’ll need to contact the Icertis sales team for a quote.

Pros and Cons

Pros

• Streamlined contract lifecycle management
• Centralized workspace for managing various contracts
• AI provides deep insights and identifies compliance issues
• Supports 40+ languages and 90+ countries

Cons

• Charges a setup fee
• No free version available
• Premium consulting and integration services add to the cost
• Complex for small businesses

5. DocuSign CLM 

DocuSign CLM, part of the DocuSign ecosystem since 2018, is a powerful contract lifecycle management (CLM) platform for growing companies. It helps businesses streamline contract processes through automation and improved visibility. 

Designed for large enterprises, DocuSign CLM simplifies complex workflows and can be easily implemented across departments.

Related: Learn how DocuSign stacks up against PandaDoc and SignWell.

Key Features 

• Workflow Automation: Streamlines contract management processes with customizable templates and predefined workflows for approvals, signatures, and routing.
• Centralized Repository: Ensures easy access to contracts, supporting better organization and security through granular permission controls.
• Clause Library: Reduces dependency on legal teams by providing a library of preapproved clauses for quicker negotiation processes.

Pricing

DocuSign CLM is priced on a case-by-case basis, with plans tailored to each business’s specific needs.

For more information on DocuSign’s pricing options for developers and businesses, check out our guide to DocuSign’s API pricing.

Pros and Cons

Pros

• Supports document sharing, electronic signature, and automated data collection
• Offers an intuitive interface and robust authentication features
• Provides an extensive product list and over 400 integrations
• Accelerates business processes

Cons

• Some users report integration challenges
• Pricing can get expensive
• Some users report poor customer service response times and resolutions

6. Conga Contracts

Conga Contracts is a comprehensive CLM solution designed to automate and optimize the entire contract lifecycle for legal and procurement departments. This software streamlines contract management processes, enhancing visibility and improving customer experiences through automation.

Key Features

• Contract Creation and Management: Leverage company metadata to create new contract profiles, manage document generation, and use a clause library and contract templates for efficiency.
• Smart Central Repository: Store, search, and organize contracts in one place with secure access for all parties involved.
• Contract Negotiation: Track versions and changes during the negotiation process to ensure compliance and accuracy.

Pricing

Pricing for Conga Contracts isn’t disclosed publicly. Contact their team for information.

Pros and Cons

Pros

• User-friendly interface
• Customizable features
• Exceptional reporting capabilities
• Streamlined contract creation process with clause library and template management

Cons

• The X-Author feature is unintuitive
• Steep learning curve

7. Agiloft Contract Management Suite

Agiloft Contract Management Suite is a comprehensive, no-code platform designed to manage the entire contract lifecycle for businesses. It’s recognized for its customizable functionality and user-friendly design, making it accessible to both technical and non-technical users.

Key Features 

• No-Code Configuration: Enables easy customization and management of workflows without needing programming skills.
• Collaboration and Integration: Supports integration with over 1,000 business systems for seamless interdepartmental collaboration.
• Data Visibility and Insights: Provides a range of search options and insightful reports and dashboards to help businesses strategize based on contract data​.

Pricing

Agiloft offers three pricing packages—Essentials, Advanced, and Premium—each catering to different contract management needs. All packages are priced using a quote-based model and are not disclosed on the website. 

Pros and Cons

Pros

• Easy customization of contract templates
• Very well reviewed
• Integration with over 1000 business systems
• Powerful and flexible contract management capabilities

Cons

• User interface could use improvement
• Integration challenges 
• Lack of accounting and billing features
• Some features require an overwhelming amount of customization

8. ContractWorks

ContractWorks simplifies the process of managing contracts, offering features like smart document tagging, customizable reporting, alerts, notifications, and built-in electronic signatures​​. It supports a broad range of contract management activities, including authoring, collaboration, monitoring, and additional functionalities like Salesforce integration​.

Key Features 

• Automated Smart Document Tagging: Automatically categorize and label documents based on their content.
• OCR & Advanced Search: Supports OCR for extracting text from images and advanced search capabilities with detailed reporting.
• Alerts & Notifications: Automated messages to keep users informed about important document updates or events.

Pricing

ContractWorks offers three pricing plans for their contract management software: Standard at $700 per month billed annually, Professional at $900 per month billed annually, and Premium at $2000 per month billed annually. 

These plans cater to different needs with varying features and document limits, providing options for teams of all sizes looking to streamline their contract management processes.

Pros and Cons

Pros

• Intuitive and easy-to-use interface 
• Efficient electronic signature feature
• High-quality customer support

Cons

• Lacks advanced editing and document-sharing features within the platform
• Difficulties in creating reports
• Learning curve for some aspects of the software
• Lack of integrations 

9. CobbleStone Contract Insight

CobbleStone Contract Insight is designed to automate and streamline the entire contract management process. With a focus on customization and control, CobbleStone offers a suite of features that cater to the needs of various organizations, particularly in legal, procurement, and vendor management sectors.

Key Features

• Contract Management: Offers comprehensive tools for managing the entire contract lifecycle, from creation and drafting to approval and renewal.
• Custom Reporting and Analytics: Enables detailed insights into contract performance and risk management.
• Intelligent Workflow Automation: Minimizes manual effort, accelerating the approval process and ensuring consistency.

Pricing

The pricing for CobbleStone Contract Insight isn’t publicly disclosed. You can reach out to their team for more information on the pricing.

Pros and Cons

Pros

• Easy to use
• Offers comprehensive feature set
• Provides mobile app for on-the-go access
• Integrates with third-party apps like MS Word, Adobe Sign, and Google Docs for enhanced accessibility and convenience

Cons

• Navigating the software may seem complex initially
• Learning curve for new users of contract management systems

10. ContractSafe

ContractSafe is a cloud-based CLM software designed to help organizations of various sizes securely store, manage, and track their contracts in a centralized system. It’s known for its user-friendliness, comprehensive feature set, and strong customer support.

Key Features

• Customization: Users can create custom fields and reminders, enhancing the management and tracking of contracts​​.
• Search & Reporting: Find and analyze contracts in seconds with features like keyword search, OCR, and advanced filters.
• Security: ContractSafe uses advanced security measures to keep your sensitive contract data safe.

Pricing

ContractSafe offers pricing plans starting at $375 per month for the Organize plan, $600 per month for the Finalize plan, and $809 per month for the Maximize plan. These plans include various features like secure storage, e-signature capabilities, document management tools, and integration options to help manage contracts effectively.

Pros and Cons

Pros

• Easy to use
• Comprehensive customization
• Efficient customer service
• Great search functionality
• Offers automated reminders

Cons

• Limited contract authoring and editing
• Lacks meaningful workflow automation

Conclusion

Navigating the complex landscape of contract lifecycle management has become significantly more manageable with the increase of innovative software solutions. 

From streamlining document creation to enhancing collaboration and ensuring compliance, the tools we’ve covered in this list are a great starting point as you evaluate the features and capabilities that are most important to your organization.

Looking for a simple but impactful e-signing solution? 

At SignWell, we’ve built our signing workflow to reflect the ways people naturally use e-signing tools. And with features like automated reminders, audit trails, and document templates, we’re always looking for ways to make the contract authoring and editing process as efficient and painless as possible. 

Sign up for free today and start experiencing the benefits of a truly user-friendly e-signing solution.