I have spent the last few months investigating the best contract management software and am still unsure as to which product to get. A colleague of mine used to work at Princeton Pilot Shoppe in Princeton, NJ and he once said they never used that style of software and could not make sense of why I want to purchase this type of software. I tried to show why I need to use contract management software by first discussing what the software is used for:

Contract management software allows companies to effectively manage the different types of contracts they utilise. This type of software can ensure standard contracts which shows payments, deliverables, commitments, and compliance terms of the contract.

So that is effectively what contract management software does or at least what I want it to do. There are numerous benefits of using purpose built contract management software. For example it:

• automatically controls the contract cycle
• increases compliance on both sides
• reduces risk
• provides contract clarity

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

Software I am researching includes the following:

• Finetooth
• Khameleon Software by Oracle
• Ketera Contract Management Express
• Memba Context

I really have to narrow it down to the best software based on features, cost, and then on user reviews. Software program reviews are frequently the easiest way to make a final decision before buying software, especially this type of software.

My next move is to do a bit more reading to work out which packages offer the most features and the greatest value for money. It is difficult seeing as there are quite a lot of contract management software providers in Princeton as well as a number of IT organisations providing this as a service.