Small businesses need effective contract management software to keep track of a large number of contracts, ensure compliance with legal requirements, and minimize the risk of errors and omissions.
According to a report by ResearchAndMarkets, The Global Enterprise Contract Management Market was valued at USD 2,946.89 million in 2022, USD 3,524.51 million in 2023, and is expected to reach USD 12,451.08 million by 2030, expanding at a CAGR of 19.73%.
After thorough research and some practical application, I am presenting the 13 best contract management software for small business in this article.
These softwares offer features such as document management, contract analytics, electronic signature, contract collaboration, and reporting.
They cater to small businesses of all industries and provide a streamlined and efficient way to manage contracts.
With these tools, small businesses can streamline their contract processes, reduce errors and omissions, and improve their bottom line.
And you can scroll down to know my top 3 choices amongst the list of 13 best contract management software for small business.
SignNow is a popular choice among small and medium-sized enterprises (SMEs) due to its ease of use, affordability, and the wide range of features it provides.
An eSignature software that also provides contract management capabilities, including document management and collaboration. Easy to manage small business contracts.
Agiloft provides small businesses with the tools they need to manage contracts effectively, including document management, contract and reporting.
Small business contract management software can be a great tool to help you get your contracts in order. It can help you simplify processes, cut down on paperwork, and make sure all your agreements are law-abiding.
So, if you looking for contract management software for small business, contract management software is the perfect solution.
And with so many free docusign alternatives available, businesses can choose the best contract management software for their needs.
But before diving deep into the sea of contract management software for small business. Let’s have a look at what exactly contract management software is.
What is Contract Management Software?
Contract management software is an essential tool for businesses of all sizes.
It allows companies to manage contracts and documents digitally, planning the entire process from start to finish.
This software helps companies save time and money by automating the contract creation and signing process, tracking contracts in one central place, and providing a secure electronic signature solution.
With this software, small businesses can quickly draft, review, negotiate, sign, store, and track contracts in a secure and efficient way.
Plus, many contract management software applications come with powerful document management software features that enable users to quickly search for files, preview contracts, and share documents with colleagues and clients.
Now that we have gone through the basics, let’s peek into the benefits of small business contract management software.
13 Best Contract Management Software for Small Business in 2023
When it comes to business, contracts are a necessary evil. From vendor agreements to hiring new employees, practically every aspect of your company will require a contract at some point.
The good news is that there are a number of great contract management software programs out there to help make the process a little bit easier.
Below, I’ve rounded up 13 of the best options for small businesses.
So whether you’re in need of a program that can help you keep track of your contracts and deadlines, or one that can help you negotiate and sign agreements electronically, we’ve got you covered.
Check out the list and find the perfect solution for your business today!
SignNow is a cloud-based contract management software designed to streamline the contract management process.
SignNow is suitable for small and medium-sized enterprises (SMEs) across a range of industries, including healthcare, finance, and real estate.
With its user-friendly interface, affordable pricing, and powerful features, SignNow is an ideal choice for businesses looking to improve their contract management processes.
SignNow allows users to sign and send contracts electronically, eliminating the need for paper-based signatures and reducing the time and cost associated with manual signing processes.
2. Document Management
SignNow provides a centralized platform for managing all of your contracts, making it easy to search, edit, and track the status of your contracts.
3. Contract Analytics
SignNow provides detailed insights into the performance of your contracts, including the number of contracts signed, the average time to sign, and the success rate of contract negotiations.
SignNow allows multiple users to collaborate on contracts, enabling teams to work together to negotiate and finalize contracts.
SignNow integrates with a range of other software, including CRM, HRM, and procurement software, allowing you to streamline your contract management process and improve efficiency.
6. Mobile Access
SignNow offers a mobile app that allows you to sign and manage contracts from anywhere, making it ideal for businesses with a mobile workforce.
- Ease of Use: SignNow is user-friendly and intuitive, making it easy for businesses of all sizes to create, sign, and manage contracts electronically.
- Affordability: SignNow is an affordable contract management solution, making it accessible to small and medium-sized enterprises (SMEs) with limited budgets.
- Security: DocuSign uses encryption and authentication to protect the confidentiality of sensitive information.
- Accessibility: SignNow is accessible from any device with an internet connection, allowing users to sign and send documents from anywhere, at any time.
- Limited Customization: Some users have reported that SignNow’s templates and forms can be limited in terms of customization options.
- Business: $8 per user per month
- Business Premium: $15 per user per month
- Enterprise: $30 per user per month
- Business Cloud: $50 per user per month
Get Started with SignNow.
DocuSign is the best contract management software for small business manage and sign contracts.
It is an easy-to-use, cloud-based platform that enables businesses to create, send, and manage contracts from anywhere.
DocuSign also offers a wide range of features to help businesses automate their contract management process, including contract templates, e-signatures, and workflow management.
The best part is that not only DocuSign is on the market, there are several other DocuSign alternatives that offer great features at an affordable budget.
- With DocuSign, you can upload virtually any document to complete, sign and return. Signatures are as legally binding as ink.
- You can access DocuSign from your smartphone, tablet, or computer. It works with the apps you use every day like Gmail, Google Drive, Outlook, Dropbox, Microsoft Word, Microsoft Outlook, and more.
- Prep and send documents for others to sign. Guide the signing experience by setting signing order, placing “sign here” tags, and more.
- Your completed documents are securely stored for easy access, far safer than paper transactions.
- Convenience: DocuSign allows users to sign and send documents electronically, eliminating the need for printing, faxing, or mailing.
- Time-saving: DocuSign streamlines the document signing process, reducing the time it takes to get signatures from multiple parties.
- Increased productivity: By automating the document signing process, DocuSign helps to increase productivity and reduce the risk of errors.
- Technical difficulties: Some users may encounter technical difficulties when using DocuSign, such as compatibility issues with certain devices or browsers.
- Dependence on technology: DocuSign relies on technology and internet connectivity, so users may experience disruptions in service if there are technical issues or outages.
- Personal: $10 per user per month
- Standard: $25 per user per month
- Business Pro: $40 per user per month
Get Started with DocuSign.
Agiloft is a low-code, no-code platform for business process automation and enterprise contract management.
It offers features such as workflow automation, document management, and configurable forms and reports.
Get immediate access and visibility to all your organization’s contracts.
2. Contract Search
Find any contract or clause in an instant with full-text search of contracts and attached files. OCR converts image files such as JPG or PDF into fully searchable text documents, while still retaining the original image.
3. Language Management
Manage language across contracts by clause type, usage, priority, status, team, owner, contract templates, or any other key terms.
4. Approval Routing Process
Automate even the most complex approval routing process including a combination of sequential, parallel, and conditional approvals.
5. Data Safe
Keep your data safe from bad actors with an application and hosting infrastructure validated by 3rd party security firm audits and government organizations. Guard against data breaches with configurable two-factor authentication.
Comply with regulatory requirements like Sarbanes-Oxley, GDPR, and HIPAA while managing risk, with precise controls, and a complete audit trail for every contract.
- Customizability: Agiloft allows users to easily customize their processes and workflows to meet their specific business needs.
- Efficient contract management: Agiloft’s contract management features enable organizations to manage their contracts and agreements more efficiently.
- Integration with other systems: Agiloft integrates with a variety of other systems, such as CRMs and ERPs, to provide a seamless and integrated user experience.
- User-friendly interface: Agiloft’s user-friendly interface makes it easy for users to manage their processes and workflows.
- Steep learning curve: Some users may find the learning curve for Agiloft to be steep, especially for those unfamiliar with business process automation or contract management.
- Technical support limitations: Some users may experience limitations with Agiloft’s technical support, such as limited hours or slow response times.
Customizable according to your needs.
Get Started with Agiloft.
If you’re looking for a contract management solution for your small business, PandaDoc is a great option.
With its easy-to-use interface and comprehensive feature set, PandaDoc helps you manage all aspects of your contracts, from creating and signing to tracking and renewals.
PandaDoc comes with a number of features that make contract management easy, including templates for common contract types, e-signature support, and central storage for all your contracts.
You can also track the status of your contracts and see when they’re due for renewal. Plus, if you need to collaborate with others on a contract, PandaDoc’s real-time editing capabilities make it easy to do so.
- Improve security and trust with built-in legally binding e-Signatures.
- Keep data consistent, with native CRM integrations that streamline your entire document workflow.
- Get real-time access to approvals, comments and version tracking. Smart features like variables and conditional logic help you eliminate document errors.
- Drag-and-drop editing helps you build them fast, with your choice of 750+ ready-to-use, free templates.
- Ease of use: PandaDoc is extremely user-friendly, even for those who are not tech-savvy. The interface is clean and straightforward, and creating and sending documents is a breeze.
- Affordability: PandaDoc is one of the most affordable contract management software options on the market. There are three pricing tiers to choose from, all of which are very reasonable.
- Features: PandaDoc comes packed with features that small businesses will find valuable, such as eSignatures, templates, analytics, and document tracking.
- The pricing structure can be confusing. There are four different pricing tiers, and it’s not always clear which one is the best fit for a small business.
- Essential: $19 per user per month
- Business: $49 per user per month
Get Started with PandaDoc.
Strictly speaking, ContractZen is another great contract management tool for small business owners.
It comes packed with an array of key features like its safe, encrypted data storage and comprehensive team collaboration tools.
It also has advanced contract workflow features, so you can manage your contracts in a smarter, faster way.
- Easy-to-use contract repository with Al-powered search capabilities, and automatic recurring email reminders.
- Effortlessly managed corporate records with clearly visualized organizational structure and extensive search capabilities.
- Ideal for SMBs, non-profits, and all price-conscious professionals.
- No need for installations, costly consulting, or technical implementation.
- Microsoft Azure based cloud service with global data availability, continuous geo-backups, and security you can trust.
- Fast to deploy, no training required. A unique SaaS solution that ensures effortless due diligence readiness.
- Powerful suite of features
- Straightforward to integrate into existing workflows and processes
- Incredibly secure
- Some users find the interface somewhat intimidating and it’s not particularly affordable for everyone (although it does come with a free trial).
- Standard: $9.50 per user per month
- Custom: Contact their team
Overall, ContractZen is an excellent choice for managing contracts from start to finish.
ContractSafe is an intuitive and affordable contract management software for small businesses.
It allows you to quickly create, store, and negotiate contracts through the cloud-based platform.
Plus, its easy-to-use features make it perfect for both beginners and experienced users alike.
- Search & Reporting features allow you to find contracts in seconds with Google-like keyword searching.
- With handy Alerts features, you (& the rest of your team) will never miss a key contract date again.
- Repository feature means you can keep all your documents safe in one place and quickly get your hands on the right document.
- With Sharing & Roles features, you never have to worry about the wrong person accessing the wrong files.
- Using a new product can be scary from a security standpoint, but with ContractSafe you don’t have to worry about data breaches or malware.
- User- friendly interface
- Cost- effective pricing plans
- Scalability options
- Robust security measures
- Customer support could be better – response times can be slow at times.
- Basic: $329 upto 500 contracts
- Standard: $549 upto 1000 contracts
- Professional: $779 upto 2500 contracts
- Enterprise: $999 upto 5000 contracts
7. Contract Works
Contract Works has a number of features that make it one of the top contract management software for small business.
For example, it has an easy-to-use drag-and-drop interface that makes creating new contracts easy.
It also offers up-to-date templates for different types of contracts so you can easily create new ones without having to worry about formatting or layout issues.
1. Subscription management
You can add customers, renew and cancel subscriptions for each customer.
You can send invoices to customers and manage them online.
3. Financials tracking
You can track your cash flow using the financials module which includes sales, expenses and balance sheet reports.
4. Restores contract visibility
ContractWorks restores contract visibility, allowing you to stay organized, minimize risk, and reduce costs.
- Manage multiple projects at once: Contract management software allows you to manage multiple projects simultaneously, so you don’t have to worry about keeping track of them all by hand. This means that you can easily keep track of deadlines and other requirements for all your projects at once.
- Automatic monitoring of contracts: You can set up alerts so that you are notified when a contract is out of date or suspended. You can also set up automatic renewal for contracts.
- Organise all your back-to-back deals into one simple dashboard so you can make informed decisions about which deals should be prioritised first.
- Complexity: This Contract management software can be complex and might require a learning curve for users who are not familiar with the software.
- Standard: $700 per month
- Professional: $900 per month
- Premium: $2000 per month
Concord is an easy-to-use contract management softwarefor small business that streamlines the whole compliance and negotiating process.
With Concord, contract creation is made easier with the use of pre-approved templates, and the version-control feature ensures all users have access to the latest version of the document.
It lets you keep track of changes and talk with stakeholders and other reviewers right on the platform. Users can also see how all contracts are going, which speeds up the buying process.
- Workflows with conditional permission to ensure that the appropriate people go over each contract (and only that person)
- To facilitate more fruitful contract negotiations, private comments and versions are provided.
- A repository of all authorised terms that may be copied and pasted into contracts as needed.
- Contracting made easier with these sample documents.
- Templates are simple to build and use.
- Concord has an internal electronic signature tool.
- Easy on-boarding and implementation.
- Weekly streamlined summary reporting.
- Concord may colour code and organise by template, active, in process, and so forth.
- Concord emails are frequently whitelisted on clients’ email servers.
- Standard: $17 per user per month
- Pro: $49 per user per month
- Enterprise: Contact their team
9. Agreement Express
Agreement express is a cloud-based solution that can be accessed from anywhere. You don’t need any software installation or other hardware to use it.
All you have to do is sign in with your credentials and start using it. It also helps you find important clauses in your contracts and add them to the list of existing contracts.
This program has a built-in spreadsheet editor that allows you to create spreadsheets directly from within the software.
It also has an integrated text editor that allows you to write and edit documents in it without having to switch between programs.
- It also allows users to upload their contracts in PDF format so that they can view them later on.
- Agreement express also has a reporting feature that allows users to generate reports about their agreements and make sure that everything goes as planned before signing them off.
- Agreement Express allows you to create agreements from scratch or import from other programs like Microsoft Word or Google Docs.
- The software is incredibly intuitive and easy to use. The interface has been designed so that even if you’re not an expert user, you’ll find it easy to navigate and use the application without any problems at all.
- Agreement express has a wide variety of features for managing contracts.
- You can create and customize forms, enter data into the system, track progress through the contract lifecycle, send notifications to your clients and employees, manage your vendors and more.
- The app includes a free trial period so you can test the software before you buy it.
- There are some limitations to this app. For example, there is no offline mode
- Customised according to your needs
Alright, let’s move on and take a look at ContractHub.
This legal contract management software is suitable for businesses of any size and comes with some pretty awesome features.
It’s a cloud-based platform that provides easy customization, electronic signature capability, and document versioning.
Plus, it does all this without any installation required—all you need to use it is an internet connection!
- ContractHub helps teams generate, approve, execute and manage documents about 80% faster.
- Provide distributed teams standard templates and workflows that integrate everyone from company counsel to management.
- Empower your team to generate agreements without changes to sensitive legal requirements.
- Offer customers and clients a simple, error-free process with their own real-time dashboard.
- They keep your documents secure using top of the art security and the world’s most trusted data centers owned by Amazon.
- For one thing, it’s convenient and very user-friendly.
- It also allows you to create templates and automate contracts so that they can be sent out much faster.
- ContractHub is quite expensive compared to some other software programs out there.
- Another issue is that there aren’t as many customizable options as some of its competitors offer.
- Small Business Basic: $50 per month
- Small Business Plus: $99 per month
- Business: $249 per month
So, what is the best contract management software for your small business?
It depends on the size of your business, the type of contracts you typically sign, and your budget.
Still my first priority is SignNow when anyone asks me for the small business contract management software.
But, no matter which software you choose, make sure that it is easy to use and helps you to streamline the contract signing process.
And, most importantly, make sure that it is secure and backed by a reliable support team.
Because with the right contract management software in place, you can ensure that your business contracts are in order and you can get back to focusing on what matters most – growing your business.
Thanks for reading!
I hope this article has helped you to find the best contract management software for your small business.