Contracts make business possible. More than 80% of transactions are tied to a contract, according to Apttus. A contract mishap can change a company’s direction or strategy, or even grind business to a halt. Earlier this year, a contract deadline mishap impacted Super Bowl XLVIII. Deadline looming, player Elvis Dumervil couldn’t find a Kinko’s to fax over his new contract. So at 3:59 p.m. the Broncos fired him rather than pay the $13 million-plus cap charge.
Well-written, expertly negotiated, thoroughly enforced (and timely!) contracts increase profits. A good contract is easy to comply with, which helps avoid penalties and sanctions. Favorably structured deals also find new sources of revenue by more accurately evaluating multi-contract relationships, mitigating risks, and taking advantage of renegotiation windows.
Contract management software exists to track changes in contracts and share them with co-workers and clients. With it, you can control and monitor the status of your contracts and keep up with deadlines.
We have been tracking which contract software providers are the most popular solutions since 2013. We recently updated our infographic: The Top 20 Most Popular Contract Management Software Solutions.
Two up-and-coming players joined the list for the first time: Effacts and Origin Systems. The biggest jump was iValua, who moved up seven places. Two vendors moved up five places: Novatus and Great Minds. Agiloft and Prodagio switched places, with the former taking the top spot.
Our popularity index helps us determine which companies are leaders in the contract management industry. It is based on factors including number of customers and users, and how popular solutions are on social media. For the details of our research process, learn more about how we’ve conducted similar studies in the past from our blog post about ranking Learning Management Systems.
The raw data we used to rank the top 20 solutions is available below. Keep in mind that much of the customer and user data is not exact because many vendors could only provide estimates.
Popularity is just one metric to use when evaluating which contract management solution is right for you. Look through all our contract solutions to compare features and pricing and make sure you’re getting the software that fits your needs.
Looking for Contract Management software? Check out Capterra's list of the best Contract Management software solutions.