Contract Management Software For Small Business

Before talking about contracts which is never fascinating to me, I am sharing some quotes about contracts from my collection, I hope you will like it.

His contract has options through the year 2020 or until the last Rocky movie is made.
Dan Quisenberry


A verbal contract isn’t worth the paper it’s printed on
Samuel Goldwyn


Hollywood is a place where they place you under contract instead of under observation.
Walter Winchell


and the best I like is

I have a simple life. I mean, you just give me a drum roll, they announce my name, and I come out and sing. In my job I have a contract that says I’m a singer. So I sing.
Tony Bennett


The management of contracts with venders, employees and customers is an essential part for good public relations and repute of any company. Contract management software is a must for medium to large size businesses, and growing need of small organizations who does not have dedicated department for this purpose. The minimum for a contract management software ensures that all negotiations, terms and conditions in contracts are implemented during the life cycle of contract including contract creation, maturing, signing, execution and termination.
A study from Contract Management: Optimizing Revenues and Capturing Savings by Aberdeen Group
“42% of enterprises…the top driver for improvements in the management of contracts is the pressure to better assess and mitigate risks”

It also suggests that

“nearly 65% of enterprises report that contract lifecycle management (CLM) has improved exposure to financial and legal risk

A business can cut costs, minimize risks and maximize operational performance by carefully selecting a software for his contract management needs. Due to nature of technicalities involved in contracts, it is difficult for small business owner to choose from commercial software available in market. The common features included in all these options

  • Templates and Libraries
  • Contract Repository
  • Online Negotiation
  • Configurable Alerting
  • Contract Compliance
  • Document Management
  • Document Approval Routing
  • Manage Contacts
  • Security
  • Contract Authoring and Creation Module
  • Reporting / Graphing

We have sorted some contract management software that small business owners can consider.

1. Contract Management Software by GreatMinds Software


2: Selectica


3: Ecteon


4: Mumboe


5: Novatus



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