Enterprise contract tracking software can help a contract manager controls tens of thousands of contracts simultaneously while shortening the contract cycle time and reducing management costs. It can be desktop contract management software or a web-based contract tracking system and service.
Best Enterprise Contract Manager Software
Contract manager software can be expensive commercial software or freeware that costs nothing. An enterprise contract manager tool usually provides a parallel system to improve the contract approval process and cut contract cycle time by enabling different departments of a company to work on their parts of a contract at the same time. This parallel system is very important to complex contract management for construction companies and other big project companies.
For example, Selectica Contract Lifecycle Management Software has such a parallel management system that can break the bottleneck of contract approvals. It also provides a dynamic workflow system that can help a contract manager adds or removes contract tracking steps according to the real requirements of any specific contract.
Free and Open Source Contract Management Software Comparison and Download
Commercial contract tracking and management software is expensive. Sometimes a small business contract manager may look for a cheaper or even free alternative. Under this circumstance, free open source contract management software could be his or her best choice.
For example, Alfresco is a free open source solution for contract tracking management. It is an open source enterprise-scale document management system. Its Alfresco Community Edition is open source and free to download and free to use. Another version, Alfresco Enterprise Edition, is open source with commercial support and enterprise extensions.
The Alfresco Community Edition provides the functional modules of document management, records management, and content repository. These modules can help a contract manager configure and set up a contract tracking and management system.
If a user likes to spend time and resource and solve issues independently, he or she can develop a fully-featured contract tracking and management software from the open source Alfresco. There are a few successful precedents for the Alfresco-based contract management systems in the market.
For example, CIGNEX Contract Lifecycle Management (CLMS) is a contract management system based on Alfresco. This contract management solution can help a large enterprise manages thousands or even tens of thousands of contracts simultaneously. Its main features and functional modules include:
- Legacy migration tool – quickly migrate and import all the existing executed legacy agreements.
- Contract templates – quickly draft contracts while reducing risk and increasing performance.
- Import tool – import other party language for drafting contracts.
- Streamlined practices for workflows and a parallel system for filing and drafting of contracts - ensure compliance with contract approval policies and process.
- Drip alerts system - provide warning on upcoming expirations and other commitments.
- Other features include an online web based custom search and reporting module, a vendor and supplies management module, a payment system, a delivery system, etc.
If a company does not want to develop their own contract management software, they can use CIGNEX Contract Lifecycle Management (CLMS) as a cheap alternative too. CIGNEX Contract Lifecycle Management (CLMS) has no license fee but charges for commercial supports.
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Chen Nanyang - Chen Nanyang's journalist career began in 2002 when he started writing for China's Nanfang City News, Singapore's United Morning Post and ...
