looking for CMS recommendations to get assistance with contract management

Question

Hi all,

I was caught off guard earlier today when the new director of operations of a legacy 9-seat client since 2014 said they weren't under a contract and after doing my own research I found he was right.

The original contract signed in 2015 needed to be resigned every single year and after we got to forty of those, in 2017 we switched over to a system that auto renewed every year with a moderate price increase. In November 2018 we announced the change, in November 2019 we sent out the updated contracts, and all of them came back signed or so I thought.

So now I'm looking for recommendations of new contract management system that assist me with contract management, to ensure we don't miss a renewal or to ensure we get a contract signed before we initiate services. What do all of you use?

Answer 1

Hi @Anna Sympson ,

Hope you're well.

If you are still evaluating solutions a year later, here's my two cents. There are a wide variety of providers that claim to be a full contract lifecycle management system. In my experience however, it's important to use a technology that not only works at the current stage your company is at, but can flex and scale with you as you grow or as processes change. Fortunately, this is the time of year where market research firms are publishing their reports on the state of the CLM space. If you're interested in checking out the pros and cons of the CLM market leaders, here is the fall report from Gartner: www.gartner.com/doc/reprints?id=1-2ARDO0DN&ct=220804&st=sb

Of the companies on that list, I'd say Agiloft, DocuSign, and Ironclad would be the companies to focus in on. I'd be happy to talk about this more in depth if you're still looking for vendors.

All the best,

• Tyler M.