Managing contracts manually can be a major headache for SaaS businesses. From keeping track of renewals to handling customer agreements and vendor contracts, SaaS contract management requires precision and efficiency to avoid costly mistakes.
As your company scales, so does the complexity of managing contracts. Relying on outdated methods makes it harder to keep everything organized, leading to missed deadlines and increased risks.
In this post, we’ll cover what SaaS contract management is, its purpose, how it works, and the key benefits. We’ll also compare the top tools for 2024 and share tips on choosing the right one for your business.
Before we dive into the whats, here’s the list of the best SaaS contract management software.
Signeasy – Best for fast-growing companies needing simple contract management.CloudEagle – Ideal for large companies seeking advanced analytics and automation.PandaDoc – Good for sales-focussed teams needing customizable templates.ContractWorks – Perfect for enterprises requiring secure contract management.Gatekeeper – Suited for large enterprises managing complex vendor contracts.Docusign – Best for large enterprises with complex contract management needs.Ironclad – Best for enterprises looking for complete contract lifecycle management.To help you choose the right SaaS contract management software, we’ve selected tools based on their ease of use, feature set, customer reviews, and suitability for different business needs. Whether you're a small business looking for simplicity or an enterprise needing robust automation, these tools cover a range of options to meet your contract management requirements. To get more details, head over to our section
here .
What is SaaS contract management? SaaS contract management refers to the process of organizing, tracking, and managing contracts through a cloud-based system. It serves as a digital hub where your contracts are easily accessible, organized, and ready for action.
With SaaS contract management, the entire contract lifecycle is simplified — from creation and negotiation to execution, compliance, and renewal. Instead of wasting hours searching through emails or files, you can handle everything in one place.
An efficient SaaS contract management software automates the heavy lifting. It monitors key details like renewal dates, contract terms, and compliance requirements, sending contracts from one person to another without human intervention.Â
This allows you to stay on top of every stage, from customer agreements to vendor contracts, with ease. All your documents are securely stored in the cloud, accessible whenever and wherever you need them.
What is the purpose of contract management software? Contract management software makes life easier for SaaS business owners and admins. It helps you stay organized, reduces manual tasks, and takes the stress out of managing contracts.Â
Instead of wasting time chasing paperwork, missing deadlines, or worrying about compliance, you can focus on more productive work.
Here’s how contract management software helps:
One central hub: No more searching through emails or folders. Contract management software provides a single place for all your agreements, making audits, renewals, and last-minute checks simple and efficient.Stay ahead of deadlines: Automated reminders ensure you never miss renewals, expirations, or renegotiations. You’ll have plenty of time to review contracts before deadlines hit.Less waste and more value: The software gives you a clear view of contract terms, expiration dates, and team usage data, helping you spot opportunities to save. You can easily identify expiring contracts or negotiate better terms.Better compliance, less risk: It minimizes errors and helps you stay compliant with legal and regulatory requirements. Plus, it alerts you to potential issues so you can be proactive.Automated workflows: From drafting to approvals and signing, the software automates manual tasks, saving time and allowing your team to focus on more valuable work that drives business growth.How it works? SaaS contract management software is like your behind-the-scenes assistant. It handles the complexity of managing contracts and automating tasks that consume your time. It makes managing contract seamless and efficient.
Here's how a SaaS contract management software works:
Contract creation: Use templates to quickly create contracts, ensuring consistency across all agreements while saving time during the initial drafting stage.Negotiation : Seamlessly collaborate with stakeholders by sending contracts for negotiation. The software tracks changes and makes sure all parties are aligned, speeding up the back-and-forth process.Approval : Automate the approval process by adding contracts to predefined workflows. All stakeholders are notified, and approvals are tracked within the software, reducing bottlenecks.Execution (Electronic signature) : Collect electronic signatures securely from all parties involved. This stage is made faster and paperless with the software, eliminating the need for printing, scanning, or mailing contracts.Storage and organization: Once signed, the software securely stores the contracts in the cloud, organized by categories or tags for easy retrieval. You can search and access contracts anytime, anywhere.Monitoring and compliance: Automated reminders help track important deadlines like renewals or expirations. The software also ensures contracts comply with legal and regulatory requirements, reducing risks.Audit and reporting: The software maintains a comprehensive audit trail of every action taken on a contract, from edits to approvals. Advanced analytics provide insights into contract performance, cycle times, and bottlenecks, making it easier to improve the process.Benefits of SaaS contract management? Investing in SaaS contract management software brings a whole lot of benefits that make your business run smoother:
Time savings: No more wasting hours sifting through emails or hunting for an older version of a contract. SaaS contract management software stores all documents in one place and automates workflows for approvals and signatures. You can use the time you save to grow your business.Improved accuracy: With automated tracking, reminders, and compliance checks, the software ensures nothing is overlooked. You will never miss a renewal deadline, forget a compliance check, or let an important contract term slip by.Enhanced security: All contracts are stored securely in the cloud, reducing the risk of lost documents or unauthorized access. Contract management software offers encryption, user permissions, and audit trails to protect your sensitive information.Streamlined workflows: From drafting contracts to negotiating terms and collecting signatures, SaaS contract management software automates the process, reducing manual tasks, speeding up approvals, and quicker completion.Cost efficiency: By tracking contract terms, pricing, and renewals, the software lets you renegotiate unfavorable terms or eliminate underused services. It helps cut costs and maximize value.Better compliance: The software automatically flags issues that violate industry regulations and internal policies, reducing compliance risks and providing peace of mind.Data-driven insights: SaaS contract management software collects and organizes data to provide valuable insights into contract performance, supplier relationships, and spending patterns. It supports informed decision-making and resource optimization.7 best SaaS contract management software We’ve selected these tools based on ease of use, features, and customer feedback to help you streamline contract management for your business.
1. Signeasy Signeasy is all about simplicity and ease of use. Its reusable templates help you batch-create contracts, while its intuitive UI allows for effortless navigation. Signeasy AI makes reviewing the agreement and understanding critical contract terms before signature simple.Â
Signeasy’s eSignature API simplifies contract signing and document management. The software sends them auto-reminders for pending signatures. It integrates with several business tools, including Google Workspace, HubSpot, Microsoft Sharepoint, and Microsoft Outlook, allowing for quick and secure contract management.
Signeasy categorizes contracts and stores them in a centralized repository, allowing for easy search. You can even provide your team-controlled access to the documents based on their roles and permissions.
Core features:Â
Real-time notifications Mobile-friendly interface Secure eSignature functionality Document templates and storage Integration with cloud servers like Google Drive and Microsoft SharePoint Pricing : Business plans start at $30/user/month, business plus plans for $40/user/month, and custom pricing for enterprises.
Rating : 4.7 out of 5 on G2
Reviews : Customers love the ease of getting contracts signed through Signeasy. Most customers also appreciate reliability and seamless integration with other software.
2. CloudEagle CloudEagle is a comprehensive SaaS contract management tool known for its user-friendly interface, native integrations with contract repositories, and robust features. It offers customizable templates, automated reminders, comprehensive analytics, and AI-driven data extraction.
It offers powerful features for contract lifecycle management, including AI-powered contract insights, vendor management, and spend optimization. CloudEagle is ideal for companies seeking to streamline contract processes and reduce expenses.
Core features:
Instant data visibility with real-time updates from financial management systems Track contract negotiation and approvals Automated alerts and reminders Advanced analytics for spend tracking Pricing : The starter plan costs $2000/month, the growth plan costs $3000/month, and the enterprise version is priced at $4000/month.
Rating : 4.7 out of 5 on G2
Reviews : Customers praise CloudEagle’s robust features and contract management capabilities.
3. PandaDoc PandaDoc offers an all-in-one document management solution designed for sales and marketing teams. It simplifies creating, sending, and tracking contracts. The platform offers a drag-and-drop editor for quickly creating visually appealing proposals, quotes, and contracts.
PandaDoc’s cloud-based centralized storage organizes contracts securely. The intelligent search functionality allows quick access to the documents. It integrates with numerous business solutions, including Salesforce, HubSpot, Zoho, and FreshBooks.
Core features:
Customizable templates for contracts Al-powered data extraction allows quick contract retrieval Smart content collaboration and audit trail Uses ESIGN compliant e Signature technology Pricing : The starter plan is $19/seat/month, the business plan is $49/seat/month, and custom per‑seat or per‑document pricing is also available for enterprises.
Rating : 4.7 out of 5 on G2
Reviews : Customers praise the document management features and ease of use of Pandadoc.
4. ContractWorks ContractWorks is ideal for enterprises that need a scalable solution for contract management. It offers centralized storage and offers advanced search functionalities for easy document retrieval.Â
ContractWorks manages contract drafting, tracking, reporting, and reminders to take the load off your shoulders. Its user-friendly interface and customizable fields make organizing and managing contracts easy. It allows multiple parties to collaborate over a contract and sign it electronically.
Core features:
Provides comprehensive audit trail with version control Uses OCR to extract data from contracts for quick searching Automates workflows to streamline contract negotiation and approvals Robust security features like SOC 2 compliance and AWS Data Centers Pricing : The standard plan is $700/month, the professional plan is $900/month, and the premium plan is $2000/month.
Rating : 4.8 out of 5 on G2
Reviews : Customers like ContractWorks as it is easy to use, and their customer support team is great. However, the platform lacks sufficient reporting capabilities.
5. Gatekeeper Gatekeeper offers a centralized platform for storing and managing all SaaS contracts and vendor information, making accessing and organizing documents easy. Its automated workflows and analytics capabilities make it suitable for large enterprises.
Gatekeeper's integrated eSignature solution complies with international standards such as ESIGN, UETA, and European eIDAS. The software automates various contract management workflows, enhancing efficiency and reducing manual effort in contract handling.
Core features:
All-in-one vendor lifecycle management with automated onboarding Redlining facilitates effective edits, version control, and negotiations Touchless Contracts™ uses AI to convert boilerplates into full-fledged contracts Integration with 220 third-party apps, including MS Office, Zapier, Salesforce, and Google Workspace Pricing : The essentials plan costs $1,245/month and works well for up to 150 suppliers. The pro plan costs $2,995/month and works well for up to 500 suppliers. The enterprise plan is suitable for managing up to 1000 suppliers and costs $5,295/month. For more than 1000 suppliers, custom pricing is provided by their team.
Rating : 4.5 out of 5 on G2
Reviews : Gatekeeper is loved by users for its easy user onboarding and implementation. Customers also appreciate their support team for helpful responses and follow-ups.
6. Docusign Docusign is a popular electronic signature and contract management software. It offers a centralized, searchable repository for easy retrieval and management. It automates the contract lifecycle, including review, approval, and signature processes.
Docusign’s Intelligent Agreement Management (IAM) automates repetitive tasks to streamline contract lifecycle management. It offers granular access controls through advanced authentication options, such as multi-factor authentication and biometric verification for secure electronic signatures.
Core features:
100 pre-configured steps to streamline contract processes Uses AI and ML to enhance negotiation, improve contract reviews, and speed up approvals Supports data-driven decisions through insights into contract performance, trends, and obligations Docusign's native eSignature solution provides secure and legally binding signatures Alerts for key contract dates help manage renewals and compliance effectively Pricing : The standard plan costs $35/month, and the professional plan costs $65/month. Their team provides the custom pricing for the enterprise plan with CLM.
Rating : 4.5 out of 5 on G2
Reviews : Users like the convenience of eSignatures offered by Docusign but expect better customer support.
7. Ironclad Ironclad is a CLM software that speeds up contract turnaround time. Its user-friendly interface helps create, negotiate, approve, sign, store, and manage contracts with ease. The dashboard allows tracking contracts based on type, stage, volume, negotiation rate, and workflow configuration,Â
Ironclad enables drafting, editing, and redlining documents in Word or PDF formats to easily track changes. The platform helps digitize paper-based contracts using automatic contract data ingestion. Integrations with platforms like SafeBase, Formstack, Ramp, OneTrust, and Brightleaf help manage efficiency and compliance.
Core features:
Contract data tagging to label key information for better visibility Redline suggestions to highlight edits for easier negotiations Drag-and-drop workflow builder helps tailor workflows without coding Evaluate risk, trigger approvals, and launch contracts from within tools like Salesforce and Slack Pricing : Custom pricing is provided by their team based on customer needs.
Rating : 4.5 out of 5 on G2
Reviews : Customers appreciate Ironclad for its ease of use and automation features, but they say the platform’s workflow management is complex.
Here’s a comparison of the SaaS contract management software covered above:
How to choose the right SaaS contract management software? Choosing the right SaaS contract management software is crucial for improving your workflows and minimizing risks. Here are some key factors to consider:
Identify your needs: Start by listing the features that are most important to your business. Do you need robust e-signature functionality, customizable templates, or advanced analytics? Understanding your specific requirements will help you filter through the options.Scalability: Look for software that grows with your business. As your company expands, your contract management needs will evolve. Ensure the software can handle an increasing volume of contracts, users, and workflows without performance issues.Ease of use: The software should have an intuitive user interface that your team can easily navigate. Complex tools can slow down adoption and productivity, so choose a solution that’s simple and easy to learn.Integration with other tools: Make sure the software integrates seamlessly with the tools your team already uses, like CRM systems, document storage, and financial platforms. Good integrations will save time and prevent data silos.Security and compliance: Contracts contain sensitive information, so security should be a top priority. Look for features like encryption, role-based access, and compliance with industry standards like GDPR or SOC 2.Automation and AI features: Automating repetitive tasks like reminders, approvals, and contract renewals will save time and reduce human error. AI-powered features that analyze contract data can also provide insights that enhance decision-making.Customer support and reviews: Look for software with reliable customer support. Checking user reviews can give you a sense of how responsive and helpful the support team is, and how well the software performs in real-world use.Step-by-step process to choose the right SaaS contract management software
Make your SaaS contract management experience pleasant Contract management must not become a burden for your team. Using the right SaaS contract management software can improve workflow efficiencies, reduce contract cycle times, and enhance compliance and security.
The above round-up of the top SaaS contract management software gives you the choice to pick the right solution for your business. Signeasy is a top contender if you are focusing on ease of use, AI-driven insights, workflow customization, and seamless integration, all within a reasonable budget.Â
Signeasy’s real-time notifications, secure eSignatures, and comprehensive document management capabilities ensure that you stay organized and ahead of deadlines. It offers robust support and helps you manage contracts effortlessly while improving compliance and productivity.
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