I have spent the last couple of months investigating the most efficient contract management software and am still unsure as to which way to go. A friend of mine used to work at Woodbine Airport in Woodbine, NJ and he said they never used that type of software and could not make sense of why I want to buy this specific type of software. I tried to explain why I want to use contract management software by first discussing what the software is designed for:

Contract management software allows organisations to efficiently manage the many types of contracts they use. This kind of software can ensure standard contracts which shows payments, deliverables, commitments, and compliance terms of the contract.

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

• automates the contract cycle
• facilitates compliance on both sides
• lowers risk
• provides clarity

There are more product advantages but they are what matters most to me and generally to other organisations.

Software I am thinking about getting includes the following:

• Finetooth
• Khameleon Software by Oracle
• Softrax
• Accruent

I really should reduce the list to the top software based on features, cost, and then on online reviews. Software reviews are generally the best way to make a final decision before downloading software, especially this type of software.

My next step is to do a bit more research to determine which programs 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 Woodbine as well as a number of IT organisations presenting this as a service.