Here Are Our 5 Favorite Contract Lifecycle Management Software

Helpful Summary

• Overview: This article reviews the features, pricing, pros, and cons of five top contract lifecycle management (CLM) tools.
• Why Trust Us: We’ve helped 61,000+ businesses manage their contracts more effectively with intuitive e-signing and document automation.
• Why It Matters: A great CLM software will save you time, reduce legal risks, and improve your bottom line.
• Action Points: Our tool recommendations are SignWell, Concord, ContractSafe, OnitX CLM, and Fill.
• Further Research: Check out our other contract management guides for more tool recommendations and expert insights.

Contract lifecycle management (CLM) software is quickly becoming indispensable for industries like real estate, healthcare, education, and finance.

With the rise of remote work and digital transactions, companies need efficient ways to manage their contracts from creation to completion. That’s where CLM software comes in—automating processes, reducing errors, and increasing visibility.

In this SignWell guide, we explore five of our favorite contract lifecycle management tools, weighing their pros and cons to help you determine which one is best for your business needs.

Let’s get started.

Why Listen to Us?

At SignWell, we’ve helped thousands of businesses like TinySeed, Cornell University, and WPSessions improve their contract management processes with secure, efficient e-signing. We know what makes a great CLM tool, and we’re here to share that knowledge with you.

But first…

What Is Contract Lifecycle Management Software?

Contract lifecycle management (CLM) software is a category of tool that’s designed to help businesses:

• Create contracts quickly and easily
• Store and organize contract templates
• Monitor contract deadlines and renewals
• Automate approvals and workflows

In other words, CLM software helps you manage the entire lifecycle of a contract—from creation to renewal—in a centralized, secure platform. This can save you time, reduce errors, and improve overall contract management efficiency.

Why Is Contract Lifecycle Management Software Important?

Cost Savings

Creating contracts manually can be costly—between $7,000 and $50,000 depending on the complexity. CLM software can reduce these costs by 10-30% thanks to features like clause libraries, templates, AI assistance, and automation.

Improved Efficiency

According to Goldman Sachs, implementing a CLM tool (specifically one that offers contract automation) can speed up negotiations by up to 50% and reduce incorrect payments by 75% to 90%.

Reduced Risk

Managing risk is an important aspect of contract management. Great CLM software offers advanced security features like audit trails, authentication, and permissions management to make sure that only authorized parties have access to sensitive contract information.

Criteria for Choosing Contract Lifecycle Management Software

End-to-End Automation

Look for a CLM tool that offers end-to-end automation. This will ensure that your organization has a streamlined process and reduces manual errors.

Centralized Cloud-Based Contract Repository

Choose a solution that offers a central, cloud-based, and searchable contract repository to simplify contract storage, organization, and retrieval. 

Contract Analytics

Look for built-in contract analytics tools that help you make important decisions and identify risks before they become major issues.

Top 5 Contract Lifecycle Management Software

1. SignWell
2. Concord
3. ContractSafe
4. OnitX CLM
5. Fill

1. SignWell

SignWell is an intuitive, powerful e-signature solution with several features to simplify and automate your contract management workflows.

SignWell makes it easy to upload documents for signing, add fields for important information, and send out documents to multiple signers. Features like signing orders, automated reminders, and audit trails give you full control over your contracts and ensure compliance.

SignWell also integrates with 5,000+ popular tools like Google Drive, Dropbox, and Salesforce for seamless document management. And with advanced security measures in place, you can trust that your contracts are safe and compliant.

Key Features

• Electronic Signing: Collect legally binding and compliant e-signatures on any device—no downloads or signups required.
• Contract Automation: Set signing orders, integrate your stack, and send automated reminders.
• Contract Management: Easily find the contracts you’re looking for with advanced search, filters, and sorting.
• Templates: Transform regularly used documents into templates for easy access and simple setup.
• Audit Reports: Generate reports on contract access and alterations to ensure legal compliance.
• Easy Integration: Seamlessly integrate with 5,000+ apps and tools, including Gmail, Dropbox, and Slack.

Pricing

SignWell has a free plan that supports 1 sender and 3 documents monthly.

Personal ($8/month) is designed for individuals and features 5 templates, unlimited documents, and features like bulk send and advanced preferences. Business ($24/month) includes 3 senders (+ $8/month per additional sender) along with custom branding, in-person signing, and more.

We also have a custom enterprise plan and a pay-as-you-go API.

Pros and Cons

Pros

• Intuitive and easy-to-use interface
• Cost-effective
• Efficient document management

Cons

• Limited document editing

2. Concord

Concord is a comprehensive contract management system designed to navigate the complete lifecycle of contracts, with solutions for every stage—from drafting to renewal. The platform offers excellent collaboration tools that help minimize back-and-forth email chains, as well as native e-signing, document tracking, storage, and reporting.

Key Features

• Collaborative Editing: Edit contracts collaboratively through Concord’s native document editor.
• Approval Orders: Automatically direct contracts to the next approver in line.
• Contract Templates: Create personalized contract templates to streamline the drafting process.
• E-Signing: Collect an unlimited number of electronic signatures on your contracts.

Pricing

Concord offers three plans—Standard ($17/user/month), Professional ($49/user/month), and Enterprise (custom). Both professional and Enterprise support an unlimited number of users, making them suitable for large teams.

Pros and Cons

Pros

• Intuitive and user-friendly
• Robust security measures
• Capable of handling complex contract management

Cons:

• Limited customization options

3. ContractSafe

ContractSafe is a comprehensive cloud-based contract management solution designed to cater to businesses of all sizes. The platform prioritizes security and efficiency through its AI-powered contract repository and advanced search and reporting features.

Key Features

• Contract Management AI: Use a proprietary AI model to automatically scan, tag, and organize contracts for easy retrieval.
• Advanced Search: Quickly find contracts with an advanced search that targets keywords, clauses, people, dates, and more with custom fields.
• Customizable Dashboards: Customize dashboards with personalized widgets for quick access to important contract data.
• Contract Tracking: Get real-time notifications for upcoming contract renewals, expirations, and other important events.

Pricing

All ContractSafe plans support unlimited users.

Basic ($329/month) is best for small teams with support for up to 500 contracts. Standard ($549/month) is ideal for medium-sized businesses with up to 1,000 contracts. Professional ($779/month) is tailored for large organizations, with up to 2,500 contracts and expanded integrations.

There’s also Enterprise ($999/month) with support for up to 5,000 contracts and enterprise-level integrations.

Pros and Cons

Pros

• User-friendly interface
• Responsive support team
• Comprehensive features

Cons:

• Steep learning curve for new users
• Requires you to manually update requirements

4. OnitX CLM

OnitX CLM is a versatile solution designed to meet the needs of both large and midsize businesses across a range of industries. It offers comprehensive contract management functionalities, integrates with various project management tools, and is part of the Onit ecosystem of legal technology solutions.

Key Features

• Centralized Contract Archive: Stores all contracts in a single, secure location for easy retrieval and management.
• Automated Alerts: Sends automated alerts for contract renewal dates, milestones, and other key events.
• Interactive Reporting: Offers interactive reports that allow users to monitor contract status and performance.
• Contract Authoring: Provides customizable templates and workflows for creating contracts from scratch.

Pricing

Contact sales for a quote.

Pros and Cons

Pros

• Wide range of features
• User-friendly interface
• Part of the Onit ecosystem

Cons

• Training required for effective use

5. Fill 

Fill is a simple e-signature tool that doubles as a secure, searchable contract database. The tool features signature tracking, multiple signers, audit trails, and thousands of contract templates in a searchable library.

Key Features

• Contract Templates: Get a jump start on contract creation with Fill’s library of thousands of customizable templates.
• Signature Tracking: Keep track of signatures with status updates in real-time.
• Multiple Signers: Easily add multiple signers to a contract for faster completion.

Pricing

Fill has three plans that you can choose from—Free, Starter ($9/month), and Pro ($39/month).

Unfortunately, all plans are limited in terms of the number of documents you can send monthly. The limits are 2 on the free plan, 10 on Starter, and 200 on Pro.

Pros and Cons

Pros

• Efficient contract management
• Very easy to use
• Well-executed core features

Cons:

• Limited user reviews
• No unlimited plans

Conclusion

Contract lifecycle management (CLM) software can be a revolutionary business tool—but not every tool will offer the same level of efficiency. The five tools reviewed above are some of the best contract management software available, offering a range of features and pricing plans to suit different business needs.

At SignWell, we offer businesses a simple, secure, and affordable way to collect signatures and manage contracts.

Get started with a free account today.