Managing contracts the old fashioned way comes with several downsides for business in all industries. It can be paper-heavy, not to mention time-consuming, due to the length of most contracts. Moreover, there can appear various modifications brought to contracts, which also increased their length. Therefore, contracts must be stored in an intelligent fashion that will ease access and decrease physical storage space. This is where document management software products enter the discussion. Overall, they are capable of decreasing costs, improve accountability, ease contract control and increase a business establishment’s productivity. Below are some of the most competitive and popular contract document management software products currently available on the market.
5 Best Contract Document Management Software
1. PDFelement Pro
PDFelement Pro may be one of the most efficient contract document management software available on the market currently. Built in an intelligent fashion, it will allow users boost their productivity and manage contracts and other documents with ease. Featuring a multitude of intelligent tools, this product supports a multitude of document supports. With a clean and clear interface, the product offers easy access to all incorporated tools. The key features of this amazing PDF editor offer a complete set that can be used with success for managing contracts and a variety of other documents.
Key Features of This Contract Document Management Software:
- Editor and OCR – these features will allow the user edit text, images, and even pages, by allowing them to extract insert, combine and split segments of the document. This is how this tool will answer to some of the most burning necessities when it comes to contract management: intelligent storage solution, able to allow the user to bring modifications and revision to already existing contracts.
- Markup and Annotation – these features allow the user to easily highlight important sections of contracts and other documents, as well as annotate, make observations and mark important sections. Also, these features allow the user to add personalised signatures to official documents, as contracts are.
- Secure and share the contracts – users don’t have to worry about the security of some of their most sensitive contracts or documents, because PDFelement Pro is offering password features, watermark tools, the possibility to permanently secure in document certain sections and so on.
2. ContractWorks Contract Management Software
ContractWorks contract management software is offering contract management solutions for enterprises of all sizes. The software is easy to customise and it allows the user to secure and centralize the contracts in user’s portfolios during their entire lifecycle. It features some interesting tools, which will allow all enterprises manage with ease their contracts’ lifecycle.
- The Central Repository tool – allows a secure storage and easy access to all contracts present in a company’s portfolio.
- The Customized Reporting tool – allows the user to create specific reports that may be necessary inside the company and share them with other users. These reports can be developed by using specific relevant criteria.
- The built-in electronic signature tool – is offering a simple solution in terms of signing official documents, without the necessity of a difficult application programming interface.
3. Contract Logix Contract Management Software
On the third position, there comes the Contract Logix contract management software. The product is claiming to help enterprises eliminate money loss due to poorly organized contracts and it offers some features many may find useful.
- Proper contract lifecycle management features – to be more exact it allows the user to deal with the contract and keep track the post-execution steps.
- Boost internal coordination– it improves coordination between various departments or even vendors of the same company. By eliminating the paperwork, the product comes to fasten the contract signing and swapping between vendors and various departments.
- Monitor contracts – many companies seem to have their contracts automatically renewed, because they remain ignorant to terms. This product is answering to this issue to set notifications.
4. GitHub Contract document management
Designed as a business process management tool, GitHub is also offering contract management solutions. With the difference that each company will have to develop their own software, with the desired features, by using the help of the company’s IT engineers and documentation. Each company will be able to personalise their software in order to include what key features they desire. Therefore, you must assess which areas of your contract lifecycle management must be improved, and in which way, before jumping into action.
- Contract management solutions;
- It offer each enterprise to develop their own software, with the desired features;
- It offers professional assistance in the development process, through the company’s IT engineers and documentation;
- Each company will be able to personalise their software in order to include what key features they desire. Therefore, you must assess which areas of your contract lifecycle management must be improved, and in which way, before jumping into action.
5. Agiloft
The Agiloft Contract Management Software is promising to deliver increased automation capabilities in terms of contract lifecycle management. The product is featuring some tools for this purpose:
- The Contract Repository tool - allows secure contract storage and access features;
- The Contract Creation tool – provides pre-defined, easy-to-customise templates, for the purpose of contract creation;
- The Approval Workflow tool – allows the user to approve and manage activities that result from the company’s contracts.
Each of these tools is designed to offer increased flexibility and contract management capabilities to all users.
These are some of the most popular contract document management software products currently available on the market. Depending on which product you choose, you will have improved contract lifecycle management capabilities, thus, choose carefully.
Ivan Cook
chief Editor