Top 7 Contract Lifecycle Management (CLM) tools to boost your performance in 2024

Contract Lifecycle Management (CLM) softwares are complex and it can be tedious to look for the best suited for you until you understand the top capabilities in detail. To solve this problem, here we have collated the list of top 5 CRM tools to boost your performance drawing on our experience, user reviews, and expert insights. All personally vetted for real-world impact.

Icertis Contract Management

4.2

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Icertis Contract Management is designed to centralize and automate contract lifecycle management. The tool allows you to streamline contract creation, negotiation, execution, and analysis. With key features like AI-powered contract intelligence and customizable contract templates, you can effectively reduce contract cycle times, mitigate risks, and optimize contract performance for improved business outcomes.

Key features:

Blockchain-Based Contract Security
The platform utilizes blockchain technology to ensure the security and integrity of contracts throughout their lifecycle. By leveraging blockchain for contract encryption and validation, Icertis Contract Management enhances data protection and reduces the risk of contract tampering or unauthorized access.
Enterprise Contract Lifecycle Management
The platform offers comprehensive contract lifecycle management capabilities, covering the entire contract lifecycle from creation to renewal. It provides centralized contract repositories, workflow automation, and collaboration tools, ensuring compliance and improving operational efficiency.
Configurable Contract Templates and Workflows
Icertis Contract Management allows users to create and customize contract templates and workflows according to their specific requirements. This feature enhances flexibility and scalability, enabling organizations to adapt to changing business needs and regulatory requirements effectively.

DocuSign CLM

4.2

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DocuSign CLM is a leading solution for contract lifecycle management (CLM). You can use this tool to automate and streamline the entire contract management process, from creation to renewal. Features like automated contract workflows and centralized contract repositories will help you increase efficiency, reduce contract cycle times, and improve compliance and visibility across your organization.

Key features:

Integrated Contract Management Platform
DocuSign CLM provides a comprehensive platform for contract management, integrating seamlessly with other DocuSign products and third-party applications. This integration streamlines contract workflows, enhances collaboration, and improves overall efficiency.
Advanced Contract Analytics and Insights
The platform offers advanced contract analytics and reporting capabilities, allowing users to gain valuable insights into contract performance, risks, and compliance. Users can generate customizable reports and dashboards to track key metrics and make data-driven decisions.
Configurable Contract Workflows
DocuSign CLM enables organizations to configure and automate contract workflows according to their specific requirements. Users can define approval processes, trigger notifications, and set up alerts to streamline contract management processes and ensure compliance with organizational policies and regulatory requirements.

Agiloft Contract Management Suite

4.6

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Agiloft Contract Management Suite is purpose-built for streamlining contract lifecycle management (CLM). This tool is a good choice for organizations looking to improve contract visibility, compliance, and efficiency. Using its capabilities like customizable contract workflows and AI-powered contract analytics, you can work toward optimizing contract processes, reducing risks, and enhancing collaboration across teams for improved business outcomes.

Key features:

Configurable Contract Workflows
Agiloft Contract Management Suite offers highly configurable contract workflows that can be tailored to match specific organizational processes and requirements. Users can design automated workflows for contract creation, approval, negotiation, and renewal, streamlining the entire contract lifecycle.
Advanced AI Contract Analytics
The platform incorporates advanced artificial intelligence (AI) capabilities for contract analytics. AI algorithms analyze contract data to identify trends, risks, and opportunities, providing users with valuable insights for better decision-making and risk mitigation.
Flexible Contract Authoring and Templates
Agiloft Contract Management Suite provides flexible contract authoring tools and customizable templates, allowing users to create contracts quickly and accurately. It supports various contract types and formats, enabling organizations to standardize contract language and improve contract consistency.

Conga Contracts

4.2

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Conga Contracts is an ideal tool to streamline contract lifecycle management. The platform will help you automate contract creation, negotiation, and management processes. Some of its core features, like customizable contract templates and advanced contract analytics, will go a long way in improving contract visibility, reducing risks, and accelerating contract cycle times for increased efficiency and compliance.

Key features:

Contract Lifecycle Optimization
Conga Contracts offers tools to optimize the entire contract lifecycle, from creation to renewal. With features like automated contract renewal reminders and proactive risk identification, organizations can ensure contracts are managed efficiently and proactively, reducing compliance issues and maximizing value.
Customizable Contract Dashboards
The platform provides customizable contract dashboards that offer real-time visibility into contract status, key metrics, and performance indicators. Users can configure dashboards to suit their specific needs, enabling better decision-making and strategic planning based on up-to-date contract data.
Integrated E-Signature Capabilities
Conga Contracts integrates seamlessly with e-signature solutions, allowing users to electronically sign contracts directly within the platform. This feature streamlines the signing process, eliminates paper-based delays, and enhances the overall contract management experience for all stakeholders involved.

SAP Ariba

4.1

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SAP Ariba can help you optimize procurement processes. It's purpose-built for enhancing supplier management and driving cost savings. You can leverage its core capabilities like supplier collaboration and spend analysis to streamline procurement operations, negotiate better contracts, and achieve greater transparency and efficiency in your supply chain, ultimately improving bottom-line results.

Key features:

End-to-End Procurement Solutions
SAP Ariba offers comprehensive procurement solutions that cover the entire source-to-pay process, including supplier management, sourcing, procurement, invoicing, and contract management. This end-to-end approach enables organizations to streamline procurement operations and drive efficiency across the entire supply chain.
Global Network of Suppliers and Buyers
The platform provides access to a global network of suppliers and buyers, facilitating seamless collaboration and trade across borders. With millions of suppliers and organizations on the network, SAP Ariba enables users to discover new suppliers, expand their supplier base, and leverage global sourcing opportunities.
Supplier Risk Management
The platform offers robust supplier risk management capabilities, allowing organizations to assess and monitor the risk associated with their supplier base. With features like supplier performance scoring and risk alerts, SAP Ariba helps mitigate supplier-related risks and ensure compliance with regulatory requirements.

Coupa CLM

4.2

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Coupa CLM is an ideal tool to streamline and automate the contract lifecycle management process. The platform will help you manage contract creation, approval, and compliance, as well as enhance collaboration across departments. Some of its core features, like contract templating and integrated e-signatures, will go a long way in reducing contract cycle times and ensuring compliance, ultimately improving overall operational efficiency and minimizing risks.

Key features:

Integrated Spend Management
Coupa CLM is uniquely integrated with Coupa’s comprehensive spend management platform. This feature allows seamless connection between contracts and procurement activities, ensuring that spending aligns with contractual terms and maximizing savings through better visibility and control over expenditures.
Automated Compliance Monitoring
Coupa CLM includes automated compliance monitoring that ensures all contracts adhere to company policies and regulatory requirements. This feature helps mitigate risks by flagging non-compliant contracts and providing audit trails for all contract activities.
Collaborative Authoring and Negotiation
Coupa CLM offers robust collaborative tools that enable multiple stakeholders to draft, review, and negotiate contracts in real-time. This feature includes version control, redlining, and commenting capabilities, ensuring that all parties are aligned and that the contract development process is efficient and transparent.

Ironclad

4.5

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Ironclad is an ideal tool to streamline contract management processes. The platform will help you centralize, automate, and optimize contract workflows. Some of its core features, like customizable contract templates and AI-powered contract analytics, will go a long way in improving efficiency, reducing risk, and accelerating contract lifecycle times, ultimately enabling better business outcomes.

Key features:

Dynamic Clause Library
Ironclad offers a dynamic clause library feature that allows users to create and manage a repository of reusable contract clauses and templates. This feature enables users to quickly assemble contracts from pre-approved language, ensuring consistency, accuracy, and compliance with company standards and legal requirements.
Automated Contract Negotiation
Ironclad provides automated contract negotiation capabilities that streamline the negotiation process by tracking changes, managing versions, and facilitating collaboration among parties. This feature includes redlining tools, comment tracking, and approval workflows, enabling faster resolution of contract negotiations and reducing cycle times.
Collaborative Contracting Platform
Ironclad includes a collaborative contracting platform that facilitates seamless communication and collaboration among stakeholders, legal teams, and external parties throughout the contract lifecycle. This feature enables real-time collaboration, document sharing, and task assignment, ensuring alignment, transparency, and accountability across all parties involved in the contracting process.