Sales Tools

The Top 7 Contract Lifecycle Solutions

Explore the Top Contract Lifecycle Solutions that feature contract creation, collaboration, and management tools to streamline the entire contract lifecycle process and enhance organizational efficiency.

The Top 7 Contract Lifecycle Solutions include:
  • 1. Agiloft
  • 2. DocuSign CLM
  • 3. Icertis Contract Intelligence
  • 4. Ironclad
  • 5. Lexion
  • 6. SAP Ariba Contracts
  • 7. Sirion

Contract Lifecycle Management (CLM) solutions support businesses in streamlining the contract management process, from creation and negotiation to execution and analysis. They help to reduce time and cost involved in administrative work, increase efficiency and accuracy, and ensure legal compliance. Contract lifecycle management solutions automate elements of the contract process to improve control and visibility, as well as minimize risk.

The contract lifecycle management solution market is thriving, with service providers offering a diverse range of solutions. These are often integrated with wider business platforms and assurance systems, offering additional functions like electronic signatures, advanced analytics, and customizable templates. 

This guide will provide insights into the top contract lifecycle management solutions. We have identified the top contract lifecycle solutions and highlighted their key features, allowing you to select the right one for your unique use case.

Agiloft Logo

Agiloft is a key player in Contract Lifecycle Management (CLM) and business process management software, based in Redwood City, California. Agiloft’s platform is trusted globally for its proficiency in delivering significant savings in purchasing, enabling efficient legal operations, and accelerating sales cycles, whilst lowering potential compliance risks.

This solution facilitates rapid deployment and full system extensibility. Using contracts as the central system of commercial record, Agiloft leverages AI technology to enhance contract management across legal departments, procurement, and sales operations. The platform offers no-code configuration, which facilitates the management of any workflow. This allows teams to operate more efficiently and provides unparalleled visibility into contract data. Agiloft’s platform supports integration with over 1,000 business systems, offering widespread adoption and seamless inter-departmental collaboration. The system is designed for user-driven ownership and management, requiring no programming skills.

Agiloft’s extensive search options and insightful reporting capabilities enable vital contract data extraction and strategic execution based on existing agreements. The entire lifecycle of each contract is well-managed, from its inception and negotiation to its final implementation. This provides a comprehensive contract management solution.

Agiloft Logo
DocuSign Logo

DocuSign, based in San Francisco, California, provides solutions for managing electronic agreements. It allows businesses to execute contracts with electronic signatures across various digital platforms thereby speeding up forming contractual agreements. One of their key offerings, DocuSign CLM, assists businesses in mitigating the complexity and inefficiencies inherent to contract management.

It enables users to automate tasks, standardize procedures, save legal team’s time, and identify operational trends and opportunities. It also supports the generation of new agreements, facilitated by automated data inputs and conditional reviewing rules, thanks to templates and a clause library. DocuSign CLM bolsters the collaboration process by enabling speedy contract routing, version control, and user notifications. Via this offering, internal and external teams can review and action contracts faster and with more precision. Effectively managing contracts and workflows is made simpler with its automated features, pre-configured workflow steps, and various pre-built connectors and APIs.

A central, searchable repository for storing contracts with defined access permissions assists in providing a transparent and accessible source of truth. AI and analytics tools within the platform extract, analyze, and report key contract data and legal topics to expedite contract cycles and reduce procurement costs.

DocuSign Logo
Icertis Logo

Icertis is a software company that offers contract management software for enterprise businesses. The software utilizes a Software-as-a-Service model, using AI technology to transform contracts from static documents into strategic resources. The Icertis Contract Intelligence (ICI) platform structures and compiles critical contract information, providing a greater understanding and control of the business’s contracts.

This software is designed to transform contracts into structured and connected data that is easily accessible when required. Icertis enhances the process of creating contracts and offers automation and insights to ensure maximum value from every contract, clause, and obligation. It offers a unique prospective in managing risk, with built-in risk scoring and obligation tracking throughout every contract lifecycle. The platform also streamlines compliance with automatic cataloguing and tracking of obligations within clauses, and terms in the contracts. Icertis Contract Intelligence platform is the core for their contract lifecycle management capabilities offering agility and speed while ensuring comprehensive compliance. The platform provides standardized rule-based authoring and approvals, increasing the business’s efficiency and reducing its cycle time.

The ICI platform delivers a single, digital, and intelligent system for all contracts and contract data which can connects these contracts to other enterprise systems. This not only enables the business to gain insights but also allows for efficient management of contracts.

Icertis Logo
Ironclad Logo

Ironclad, established in 2014, offers a SaaS-enabled contract management solution. Focused on facilitating contract collaboration and creation, Ironclad is an AI-powered platform.

Ironclad’s features are holistic, including an end-to-end efficiency module with an automatic contract data tagging system, redline suggestions, and unapproved clause flagging. The intuitive platform also offers an automatic analysis of contracts, highlighting areas requiring detailed review and providing negotiation suggestions based on pre-approved legal guidelines. The Ironclad Workflow Designer centralizes contract processes such as intake, review, and approval routing within single interface. Functions such as drafting, editing, and redlining of documents are available in PDF or Word formats with all changes tracked in one place. Further, the system’s analytics and reporting feature deep-dives into contract metadata and customizes dashboards to track contracts by stage, volume, type, workflow configuration, and negotiation rate.

Ironclad’s platform has integrations with multiple tools like Salesforce and Slack, as well as the ability to sync contract metadata between Ironclad and other systems. To ensure the security of your contracts during transfer, storage, and processing, the software is built on secure infrastructure and is SOC 2, Type II compliant and ISO 27017, 27018 certified.

Ironclad Logo
Lexion Logo

Lexion offers a convenient contract management system that facilitates legal procedures and expedites contracting with AI-driven workflows and a comprehensive repository. Its platform caters to multiple operations, ranging from legal ticketing and contract generation to status tracking, reporting, and contract analysis.

Lexion’s strength lies in its capacity to streamline contract workflows for all operational teams across any organization. Its no-code integrations and email-driven workflows enable quick company-wide adoption, and its system aids in scaling businesses by automating repetitive tasks without increasing legal manpower. The platform centralizes the entire contract life cycle, allowing updates and alerts to be easily communicated to all teams. Lexion offers an AI-powered repository as well as no-code workflow automation that is easy to navigate, enables smooth routing and approval of contracts, easy assigning of owners and followers, and document dispatch for signatures.

Lexion effectively leverages AI to address business challenges, such as accelerating deals. It consolidates all contracts in one place, automatically tracking key dates and terms, thereby saving significant time in analysis and reporting. Its simplicity and ease of use enable organizations to expand their legal operations without adding to personnel costs.

Lexion Logo
SAP Logo

SAP Ariba, based in Palo Alto, California, is a software and information technology services company. The firm aims to assist businesses in making intelligent purchasing decisions, speeding up their sales processes, and managing their finances more efficiently in the digital economy. One of its offerings, the SAP Ariba Contracts solution, puts an end to tedious, paper-based tasks that could slow operations down.

This solution offers a unified, simplified view of contract data and, by implementing this system, businesses may expect to realize savings negotiated in the agreements, discover new opportunities, and discern areas with potential leakages. SAP Ariba Contracts is a cloud-based system equipped with robust search and reporting functionalities, giving businesses real-time visibility on spending history and policy compliance. SAP Ariba Contracts can help boost revenue and decrease costs by pointing out opportunities for income, avoiding contract leakages, renewing contracts in a timely manner, and reducing shipping costs through electronic signatures.

This solution also encourages stronger policy compliance by consolidating spend, alerting users of off-contract activities, automating tracking, and providing a comprehensive audit trail. Its centralized contract repository feature allows businesses to manage contracts efficiently with secure online storage and easy-to-use search tools.

SAP Logo
Sirion Logo

Sirion is a company that focuses on AI-powered contract lifecycle management software. Their robust and advanced AI-driven technology offers an enterprise-grade contract lifecycle management (CLM) solution that is trusted by some of the world’s top companies.

This powerful platform, backed by industry-leading AI, enhances the contracting process, minimizes risks, leads to cost savings, and offers an all-encompassing view over the entire contract portfolio. Clients can benefit from visibility, efficiency, superior contract drafting speed, minimized risk, and optimized commercial performance. In addition to providing contract visibility, Sirion’s system facilitates efficiency by automatizing digital workflows and maintaining a centralized, cloud-based depository for all contracts, allowing for quicker contract authoring, negotiation, search, and analysis all on a single platform. The AI-driven platform raises alerts for contract deviations, thereby mitigating potential risks.

Sirion focuses on maximizing commercial performance by providing intelligent tools and dashboards, facilitating faster sales cycles, and providing real-time intelligence to manage contractual obligations and service levels. As a result, Sirion’s CLM software successfully connects all enterprise teams to a dynamic source of contract data and intelligence on a user-friendly platform, streamlining processes, and maximizing contract value.

Sirion Logo
The Top Contract Lifecycle Solutions