Contract management software automates the creation, tracking, and monitoring of contracts. Professionals, such as salespeople or account representatives, who are involved in the negotiation aspect of contracting are tasked with defining terms and service level agreements, amending agreements, and executing contracts.
Legal departments on both sides of a deal participate in the contracting process to ensure compliance with laws and regulations as well as with internal company rules.
With so many Contract management software on the market today, however, choosing the right option for your needs can be difficult. To help, we analyzed dozens of the leading providers and selected the best Contract management software in 2023 based on pricing, ease of use, features, customer support and more.
Best & Most Used Contract Management Software In New Zealand
Here are my top picks for the best Contract Management Software for New Zealand Businesses, comparing each & uncovering the unique features each has to offer.
Let’s get started.
Best for Government Agencies
CobbleStone Software
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Standout Features
Welcome to CobbleStone, your trusted partner in Contract Management Software. CobbleStone stands out as a robust and sophisticated platform, meticulously crafted to revolutionize the way businesses handle contracts.
With an intuitive interface and powerful features, CobbleStone empowers organizations to seamlessly create, track, and manage contracts throughout their entire lifecycle. Whether you’re focused on compliance, collaboration, or risk mitigation, CobbleStone provides a comprehensive solution suitable for businesses of all sizes.
Experience the efficiency and control that comes with CobbleStone, as it takes your contract management processes to new heights, ensuring transparency and success in every aspect of contract administration.
Best for Freelancers and Independent Contractors
Contractbook
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Standout Features
Welcome to Contractbook, where simplicity meets sophistication in the realm of Contract Management Software. Designed to redefine the way businesses handle contracts, Contractbook offers an intuitive and versatile platform that simplifies every stage of the contract lifecycle.
Whether you’re creating, negotiating, or managing contracts, Contractbook provides a user-friendly experience with powerful features to streamline your processes.
Tailored for businesses of all sizes, Contractbook is your trusted ally in driving efficiency, reducing risk, and maximizing the value derived from your contracts. Embrace a new era of contract management with Contractbook, where complexity becomes simplicity, and contracts become a strategic asset for your organization.
Best for Telecommunications
DealHub
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Standout Features
Welcome to DealHub, where contract management is elevated to new heights. DealHub is a state-of-the-art Contract Management Software that sets the standard for efficiency and collaboration.
This innovative platform provides businesses with an intuitive interface and powerful features, streamlining the entire contract lifecycle. Whether you’re creating, negotiating, or managing contracts, DealHub offers a user-friendly solution that enhances collaboration, accelerates deal cycles, and ensures compliance.
Tailored for organizations of all sizes, DealHub is your go-to software for navigating the complexities of contracts with ease. Bid farewell to cumbersome processes, and say hello to a new era of clarity and productivity in contract management with DealHub as your trusted solution.
Best for Financial Services
INHUBBER
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Standout Features
Welcome to INHUBBER, where contract management meets innovation. INHUBBER is a forward-thinking Contract Management Software that redefines the landscape of contract processes.
This intuitive platform empowers businesses to seamlessly create, organize, and manage contracts throughout their entire lifecycle. With a focus on user-friendly design and advanced features, INHUBBER enhances collaboration, ensures regulatory compliance, and accelerates the contract lifecycle.
Tailored for organizations of all sizes, INHUBBER is your go-to solution for optimizing contract workflows, providing transparency, and mitigating risks. Experience the future of contract management with INHUBBER, your trusted partner in driving efficiency and success in the complex realm of contracts.
Best for Financial Services
Ironclad
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Standout Features
Step into the future of contract management with Ironclad, a cutting-edge Contract Management Software designed to redefine efficiency and control. Ironclad stands out as a powerful and intuitive platform that streamlines the complexities of the entire contract lifecycle.
Offering a user-friendly interface and advanced features, Ironclad empowers organizations to seamlessly create, negotiate, and manage contracts with precision.
Tailored for businesses of all sizes, Ironclad is the go-to solution for those seeking heightened collaboration, compliance assurance, and risk mitigation in their contract processes. Bid farewell to traditional complexities, and welcome a new era of clarity and productivity with Ironclad as your trusted ally in contract management.
Best for Corporate Enterprises
CINCEL
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Standout Features
Welcome to the future of contract management with Cincel, a cutting-edge Contract Management Software designed to redefine the way businesses handle their contracts.
Cincel stands out as an innovative platform that seamlessly streamlines the entire contract lifecycle, offering unparalleled efficiency and control.
Whether you’re creating, negotiating, or tracking contracts, Cincel provides a user-friendly experience coupled with powerful features to enhance collaboration, ensure compliance, and drive faster contract approvals.
Best Overall
Wethos
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Standout Features
Welcome to Wethos, a game-changing Contract Management Software that redefines the landscape of contract administration. Wethos stands out as an innovative platform designed to streamline and simplify the entire contract lifecycle.
With its intuitive interface and powerful features, Wethos empowers businesses to efficiently create, manage, and track contracts with ease. Wethos provides a user-friendly solution that enhances collaboration and reduces the complexities of contract management.
Tailored for organizations of all sizes, Wethos is the go-to software for those seeking a comprehensive and efficient approach to contract lifecycle management. Embrace a new level of control and productivity with Wethos as your trusted ally in contract administration.
Learn More About Contract Management Software
What is Contract Management Software ?
Contract Management Software is a specialized digital solution designed to streamline and automate the entire lifecycle of contracts within an organization. It helps in creating, editing, storing, and tracking contracts, ensuring compliance, reducing risks, and improving overall efficiency in managing contractual agreements.
This software typically includes features such as document storage, version control, automated alerts for key dates, contract analytics, and reporting tools.
y centralizing contract-related information and providing a collaborative platform for stakeholders, Contract Management Software enhances transparency, reduces manual errors, and facilitates better decision-making in the management of contractual relationships.
How does a Contract Management Software work ?
Contract Management Software works by providing a centralized platform for creating, storing, and managing contracts throughout their lifecycle. Users can input contract details, terms, and key dates into the system, which then organizes and stores this information securely.
The software often includes automation features for tasks like document generation, approval workflows, and alerts for important deadlines. Collaboration tools enable multiple stakeholders to contribute and review contract content.
Additionally, contract analytics tools may offer insights into performance, risks, and compliance. Overall, Contract Management Software streamlines and automates the various stages of contract management, enhancing efficiency, reducing errors, and providing a comprehensive overview of an organization’s contractual obligations.
Key Features of Contract Management Software
- Document Repository: Centralized storage for all contract documents, ensuring easy access and version control.
- Contract Creation and Authoring: Tools for creating, editing, and drafting contracts, often with templates to standardize the process.
- Automated Workflows: Workflow automation for approval processes, ensuring that contracts go through the necessary reviews and approvals.
- Alerts and Notifications: Automated reminders for key contract dates, such as renewal deadlines, ensuring timely actions and compliance.
- Search and Retrieval: Robust search functionality to quickly locate specific contracts or terms within contracts.
- Collaboration Tools: Features that facilitate collaboration among stakeholders, allowing them to comment, discuss, and contribute to the contract creation and management process.
Benefits of using Contract Management Software
- Efficiency and Time Savings: Automation of contract creation, approval workflows, and document management leads to significant time savings, allowing teams to focus on more strategic tasks.
- Improved Accuracy: Reduction of manual errors in contract creation and management, ensuring that contracts are consistent, error-free, and compliant with legal and regulatory requirements.
- Centralized Repository: A centralized storage system for all contracts enables easy access, version control, and quick retrieval of contract documents, reducing the risk of misplacement or loss.
- Enhanced Collaboration: Collaboration tools facilitate communication and collaboration among stakeholders, promoting a more transparent and cooperative contract management process.
- Compliance Management: Ensures adherence to legal and regulatory requirements throughout the contract lifecycle, reducing the risk of non-compliance and associated penalties.
- Risk Mitigation: Identification, assessment, and management of risks associated with contracts, allowing organizations to proactively address potential issues and mitigate risks effectively.
Who Uses Contract Management Software ?
- Legal Departments: Legal professionals use Contract Management Software to draft, review, and manage contracts, ensuring compliance with laws and regulations while minimizing legal risks.
- Procurement and Supply Chain Teams: Professionals involved in procurement and supply chain management use the software to manage vendor contracts, track supplier performance, and ensure timely renewals and compliance.
- Sales and Marketing Teams: Contract Management Software is used by sales and marketing teams to streamline the creation and management of client contracts, proposals, and agreements.
- Human Resources Departments: HR professionals leverage Contract Management Software for employee contracts, confidentiality agreements, and other HR-related documents, ensuring compliance with employment laws.
- Finance and Accounting Teams: Finance teams use Contract Management Software to manage financial agreements, track payment terms, and ensure adherence to financial compliance standards.
- Project Managers: Professionals involved in project management use the software to manage contracts related to specific projects, including scope of work, deliverables, and timelines.
Trends of Contract Management Software
- AI and Automation Integration: Increased integration of artificial intelligence (AI) and automation capabilities to streamline routine tasks, enhance contract analysis, and automate approval workflows.
- Blockchain for Smart Contracts: Exploring the use of blockchain technology to create and manage smart contracts, providing enhanced security, transparency, and automation in contract execution.
- Collaboration Tools Enhancement: Continuous improvement of collaboration features within Contract Management Software, allowing real-time collaboration, feedback, and communication among stakeholders involved in the contract process.
- Advanced Analytics and Reporting: Growing emphasis on advanced analytics and reporting tools to provide deeper insights into contract performance, compliance, and risk management.
- Mobile Accessibility: Increasing demand for mobile-friendly Contract Management Software to allow users to access and manage contracts on various devices, promoting flexibility and on-the-go functionality.
- Focus on User Experience (UX): User-centric design and improved user experience to make Contract Management Software more intuitive, user-friendly, and accessible to a wider range of users within an organization.
