I have spent the last couple of months investigating the most efficient contract management software and am still not convinced as to which product to get. A friend of mine used to work at American Airlines Credit Union Smith Museum in Fort Worth, TX and she said they never used that type of software and could not comprehend why I want to get this type of software. I tried to discuss why I would like to use contract management software by first explaining what the software is designed for:

Contract management software allows companies to easily manage the many types of contracts they utilise. This specific type of software can ensure very consistent contracts which details payments, deliverables, commitments, and compliance terms of the contract.

So that is effectively what contract management software does or at a minimum what I am looking for it to do. There are many benefits of using purpose built contract management software. For example it:

• easily automates the contract cycle
• increases compliance on both sides
• reduces the risk
• improves clarity

There are further advantages but they are what matters most to me and often to other businesses.

Software I am thinking about getting includes the following:

• Contract Connect
• Khameleon Software by Oracle
• Softrax
• Accruent

I really should shorten the list to the best software based on features, value, and then on customer reviews. Product reviews are generally the easiest way to make a final decision before purchasing software, especially this kind of software.

My next step is to do some more research to see which packages offer the best features and the most value for money. It is difficult seeing as there are a lot of contract management software providers in Fort Worth as well as a number of IT companies providing this as a service.