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Manage Your Contracts Like a Pro With These Free Software Solutions in 2021
Greetings, dear readers! In today’s fast-paced business world, effectively managing contracts is crucial for any company. However, managing them can be a daunting task, especially for small businesses with limited resources. The good news is that there are plenty of free contract management software options available that can help you manage your contracts like a pro without breaking the bank.
Introduction: Understanding Contract Management Software
Contract management software helps businesses manage their contracts from creation to renewal or termination. It provides a centralized platform for businesses to store, organize, and access contracts easily. With contract management software, businesses can automate contract creation, streamline contract negotiations, set automatic reminders for key dates, and much more.
In this article, we will review the best free contract management software options available in 2021. We will discuss each software’s features, pros, and cons, and provide you with everything you need to know to make an informed decision.
What Is Free Contract Management Software?
Free contract management software is a software solution that offers a contract management platform to users without any cost. It is a great option for businesses that have a limited budget and cannot afford to invest in expensive contract management software. Free contract management software offers businesses essential features like contract creation, storage, tracking, and management, without the need for an upfront investment.
The Benefits of Free Contract Management Software
There are plenty of benefits of using free contract management software, including:
Benefits |
Explanation |
|---|---|
Cost-effective |
Free contract management software solutions are ideal for businesses with limited budgets, as they require no upfront investment. |
User-friendly |
Most free contract management software solutions offer user-friendly interfaces and easy-to-use features, making them accessible to all users, regardless of technical expertise. |
Centralized storage |
Free contract management software solutions provide businesses with a centralized platform to store and access their contracts easily. |
Automation |
Free contract management software solutions automate time-consuming processes like contract creation, tracking, and management, freeing up time for businesses to focus on other important tasks. |
7 Best Free Contract Management Software Options in 2021
1. ContractSafe
ContractSafe is a free contract management software that offers users a centralized platform to manage all their contracts easily. With ContractSafe, users can upload and store all their contracts securely, set up automatic reminders for key dates, and even search through contracts using keywords. Although ContractSafe is a free software, it offers users advanced features like OCR (optical character recognition) and AI (Artificial Intelligence) for an additional cost.
2. Agiloft
Agiloft is another free contract management software that offers businesses a comprehensive platform to manage their contracts. With Agiloft, users can automate contract workflows, generate reports, and create custom business rules for their contracts. Although Agiloft is free, it limits users to managing up to 10 contracts.
3. ContractWorks
ContractWorks is a free contract management software that provides users with a centralized platform to store and manage their contracts. With ContractWorks, users can easily search through contracts using keywords, set up automatic reminders for key dates, and track the status of their contracts. Although ContractWorks is free, it is limited to managing up to 10 contracts.
4. Zoho Contracts
Zoho Contracts is a free contract management software that offers users a centralized platform to manage all their contracts easily. With Zoho Contracts, users can create and store contracts, track contract status, and set up automatic reminders for key dates. Although Zoho Contracts is free, it limits users to managing up to 10 contracts.
5. PandaDoc
PandaDoc is a free contract management software that offers users a range of features including contract creation, signing, and tracking. With PandaDoc, users can create custom contracts easily, track contract status in real-time, and even sign contracts electronically. Although PandaDoc is free, it limits users to creating up to 3 documents per month.
6. Concord
Concord is a free contract management software that provides businesses with a comprehensive platform to manage their contracts. With Concord, users can easily create and store contracts, set up automatic reminders for key dates, and even sign contracts electronically. Although Concord is free, it limits users to managing up to 3 contracts.
7. HelloSign
HelloSign is a free contract management software that allows users to sign contracts electronically easily. With HelloSign, businesses can sign contracts remotely and securely without the need for a printer or scanner. Although HelloSign is free, it limits users to signing up to 3 documents per month.
Frequently Asked Questions (FAQs)
1. What is contract management software?
Contract management software is a software solution that helps businesses manage their contracts from creation to renewal or termination. It provides a centralized platform for businesses to store, organize, and access contracts easily. With contract management software, businesses can automate contract creation, streamline contract negotiations, set automatic reminders for key dates, and much more.
2. What are the benefits of using contract management software?
There are plenty of benefits of using contract management software, including cost-effectiveness, user-friendliness, centralized storage, and automation of time-consuming processes like contract creation, tracking, and management.
3. What features should I expect from contract management software?
Essential features of contract management software include contract creation, storage, tracking, and management. Other features like OCR and AI for document processing, electronic signature capabilities, and custom business rules for contracts may also be available in some software solutions.
4. Which is the best free contract management software?
The best free contract management software depends on the specific needs of your business. However, ContractSafe, Agiloft, and ContractWorks are excellent options for small businesses with limited budgets.
5. Is free contract management software secure?
Yes, most free contract management software solutions provide users with secure platforms to store, organize, and access their contracts.
6. How do I choose the right contract management software for my business?
To choose the right contract management software for your business, you need to consider factors like your business’s specific needs, the features offered by the software, ease of use, and security. It’s also essential to consider the software’s pricing, as some free solutions may offer limited features or require additional costs for advanced features.
7. How time-consuming is switching to new contract management software?
The time it takes to switch to new contract management software depends on the software you are switching to and your business’s size and complexity. However, most contract management software solutions offer easy migration processes to make the switch seamless.
The Bottom Line
Free contract management software solutions provide businesses with an affordable way to manage their contracts easily. Although free software solutions may offer limited features compared to paid options, they are still excellent options for small businesses with limited budgets. We hope that this article has provided you with everything you need to know about the best free contract management software solutions available in 2021.
Take your time to evaluate your business’s specific needs and choose the best free contract management software that suits you. Don’t wait any longer; start managing your contracts like a pro today!
This article is for informational purposes only. The author does not endorse or recommend any of the free contract management software solutions mentioned in this article over others that may be available. Readers should conduct their research before making any decisions.
