Best Contract Analytics Software Shortlist
Read my shortlist of the best contract analytics software
- Affinitext - Best contract analytics software for obligation tracking
- Malbek - Best contract analytics software for revenue loss analysis
- LinkSquares - Best contract analytics software for various company departments
- Icertis - Best contract analytics software for enterprises
- Gatekeeper - Best contract analytics software for a range of features
- IntelAgree - Best contract analytics software for compliance monitoring
- Evisort - Best contract analytics software for analyzing existing agreements
- Kira - Best contract analytics software for contract data extraction
- Lexion - Best contract analytics software for easy adoption
- SirionAI - Best contract analytics software for 360-degree contract visibility
- DocuSign Contract Analytics - Best contract analytics software for risk assessment
- Conga Contract Intelligence - Best contract analytics software for creating risk reports
Contracts form the backbone of nearly every business transaction. Managing contracts efficiently is crucial for minimizing risks and ensuring smooth operations. That's where contract analytics software steps in.
These tools optimize the process of creating, managing, and analyzing contracts. They use AI and machine learning technology to extract critical insights, mitigate risks, and optimize contract performance. Read on to find the best contract analytics software for your business.
What Is Contract Analytics Software?
Contract analytics software helps businesses review and analyze legal contracts. It employs advanced algorithms and natural language processing (NLP) to perform due diligence on contracts. It extracts essential information from contracts, such as key terms, clauses, dates, and obligations.
Additionally, it can also assist in identifying potential issues or opportunities within contracts, allowing for informed decision-making. Contract analytics software also offer features for organizing, categorizing, and reporting on contract information, which enables better contract management and negotiation.
Overviews of the 12 Best Contract Analytics Software
Here, you’ll find my review of the best contract analytics software, which includes what the tool does best, standout features, integrations, and a pros and cons list.
1. Affinitext - Best contract analytics software for obligation tracking
Affinitext is a contract management system that uses machine learning to evaluate contracts.
Why I picked Affinitext: I picked Affinitext due to its obligation tracking capabilities that allow users to track their contracts’ compliance status. It helps users identify ways to improve their contracts. Additionally, it offers task management features that let users manage tasks related to obligations and entitlements. You can set notifications, email reminders, and view compliance status.
Affinitext Standout Features and Integrations
Standout features include the clause library tool that allows businesses to manage their contracts in a centralized place.
Integrations include Microsoft 365 and Microsoft Word.
Pricing: Pricing available upon request
Pros
- Great contract library tool
- Helps manage the entire contract lifecycle
- AI-powered contract analysis
Cons
- Limited integrations
- Pricing details are not transparent
2. Malbek - Best contract analytics software for revenue loss analysis
Malbek is a contract lifecycle management (CLM) software that provides tools to manage and analyze contracts, from authoring, negotiation, review, and tracking.
Why I picked Malbek: Malbek is an excellent tool for analyzing contracts for revenue loss analysis. It analyzes the contract cycle and performance to identify areas of revenue loss. It also offers suggestions to mitigate revenue loss.
Furthermore, Malbek's dashboard provides a clear overview of contract data, making navigating complex information easy. The platform's robust reporting capabilities allow for in-depth analysis and the generation of actionable insights.
Malbek Standout Features and Integrations
Standout features include a searchable and centralized repository to store and search for contracts.
Integrations are available with 30+ tools, including Microsoft Sharepoint, SAP, Salesforce, Adobe Sign, DocuSign, Microsoft Word, Microsoft Outlook, Google Drive, Dropbox, and Box.
Pricing: Pricing available upon request
Pros
- Easy to use and operate
- Provides a clause library with pre-approved language and terms
- Offers approval workflow automation
Cons
- Pricing details are not transparent
- No free trial/plan available
3. LinkSquares - Best contract analytics software for various company departments
LinkSquares is an end-to-end contract lifecycle management platform that provides businesses insight into their legal documents.
Why I picked LinkSquares: Contracts are used and affect different departments of a company, such as legal, finance, and sales departments. LinkSquares enables the legal team to pull essential information from contracts and create custom reports and dashboards that can be shared and accessed by different company departments.
The Smart Values feature automatically pulls the required information, providing key insights. Additionally, you can combine Smart Values with custom reporting and search features to get quick answers to your questions without manual intervention.
For example, your finance team can use the Smart Values feature to pull renewal dates so they can complete financial obligations. Similarly, the legal team can use it to understand the contract's termination terms.
LinkSquares Standout Features and Integrations
Standout features include security features that allow users to protect their contracts and data with the help of best-in-class encryption.
Integrations include Slack, Microsoft Word, Salesforce, DocuSign, Adobe Sign, DocuSign, Adobe Sign, Google Drive, Dropbox, and OneDrive. You can also get additional integrations through API.
Pricing: Pricing available upon request
Trial: Free demo available
Pros
- User-friendly interface
- Supports popular document storage tools
- Good encryption feature
Cons
- Steep learning curve
- Pricing details are not transparent
4. Icertis - Best contract analytics software for enterprises
Icertis is a contract management and analytics software for enterprises.
Why I picked Icertis: Icertis provides all the tools enterprise businesses require for contract analysis. This full-featured analytics solution provides key insights related to contract cycle times, savings, deviations, risks, expiry, and renewal statistics.
Icertis also offers several compliance tracking tools that help enterprises ensure compliance. For example, the GDPR compliance app identifies contracts that are not compliant with GDPR. It also helps users track compliance to commitments, terms, and other obligations automatically.
Icertis Standout Features and Integrations
Standout features include intelligent contract setup. Icertis can help you with full lifecycle contract management, which includes setting contracts to authoring, approval, analytics, and other aspects.
Integrations include SAP, Microsoft, Salesforce, and Workday.
Pricing: Pricing available upon request
Pros
- Great customization options
- Allows separate access for different roles
- Powerful search feature
Cons
- Implementation and onboarding can be lengthy
- No free plan/trial available
5. Gatekeeper - Best contract analytics software for a range of features
Gatekeeper software is a cloud-based platform that provides vendor management, contract management, and reporting features.
Why I picked Gatekeeper: I chose Gatekeeper software for this list due to its wide range of features. For example, its analytic suite provides insights on contact renewals, revenue, risk, compliance, and more. It allows users to track and gain insights from their contracts that improve decision-making.
Gatekeeper also offers reporting tools that help users create graphical reports and gain insights regarding their contracts. It can also gather data from multiple sources. Another great feature is the Kanban workflow engine, which allows users to create automated workflows that help with contract administration and scalability.
Gatekeeper Standout Features and Integrations
Standout features include graphical reports that provide insights related to contracts' performance.
Integrations include Oracle NetSuite, DocuSign, Salesforce, Microsoft 365, Slack, Airtable, Asana, Jira, Microsoft Dynamics 365, and Microsoft Teams. You can also get additional integrations through Zapier.
Pricing: From $1,125/unlimited users/month (paid annually)
Trial: Free demo available
Pros
- User-friendly software
- Highly customizable
- Provides graphical reports
Cons
- No free trial available
- Pricing may not be suitable for small teams
6. IntelAgree - Best contract analytics software for compliance monitoring
IntelAgree is a cloud-based contract management solution that leverages artificial intelligence (AI) and machine learning (ML) technologies to help legal teams with contract creation, management, and analysis.
Why I picked IntelAgree: The best aspect of IntelAgree is the compliance monitoring feature. It enables users to track and manage the compliance status of their contracts. You can also set automatic reminders and notifications. The software sends notifications when the contract is due for renewal or review, ensuring you don't miss any deadlines.
It also provides customizable workflows that enable users to meet compliance needs. These workflows ensure that your contracts meet the legal requirements. Also, IntelAgree uses AI and ML technology to help legal teams analyze contracts efficiently. Users can use this feature to identify compliance issues and risks within their contracts.
IntelAgree Standout Features and Integrations
Standout features include the contract summaries feature that provides users with a quick way to look at their contracts' key terms, dates, and clauses.
Integrations include Workday, Salesforce, Bullhorn, DocuSign, Microsoft Word, and Microsoft Outlook. You can also get additional integrations through IntelAgree's Open REST API.
Pricing: Pricing available upon request
Trial: Free demo available
Pros
- AI-powered contract management capabilities
- End-to-end contract lifecycle management
- Customizable workflows
Cons
- No free trial available
- No mobile app
7. Evisort - Best contract analytics software for analyzing existing agreements
Evisort is a contract analysis software that empowers enterprises and growing companies to manage and analyze their contracts.
Why I picked Evisort: The best aspect of Evisort is that it helps analyze existing agreements. Evisort's AI-powered contract analytics enables efficient analysis of historical data. It can scan and assess 100 contract types, tag, store, and analyze contract categories.
Additionally, Evisort looks at current agreements and suggests the best words to use and alternatives to help businesses make better deals.
Evisort Standout Features and Integrations
Standout features include the document editor that allows businesses to create and negotiate contracts. You can use it to create contracts from scratch or use their pre-built contract templates.
Integrations include Salesforce, ServiceNow, Google Drive, Microsoft OneDrive, Microsoft SharePoint, Box, Dropbox, Amazon S3, Adobe Sign, and DocuSign. You can also get additional integrations through Zapier and Evisort API.
Pricing: Pricing available upon request
Trial: Free demo available
Pros
- AI-powered contract analytics
- Customizable alerts and notifications
- Easy to use
Cons
- Pricing details are not transparent
- No mobile app
8. Kira - Best contract analytics software for contract data extraction
Kira Systems is a contract analytics software built on patented machine learning technology. Its powerful search capabilities extract important provisions and clauses from contracts.
Why I picked Kira: Kira can import documents in over 60 formats. Then, it uses a proprietary AI model to highlight and analyze key information, clauses, provisions, and data points. You can also find documents using Kira based on absence or presence of clauses, custom tags, and search URLs.
The platform's smart technology identifies risks related with regulatory and legal changes. To maintain the accuracy of Kira’s technology, it is trained by a team of expert accountants, subject matter experts, and lawyers, who have worked at prominent companies including Torys, Allen and Overy, Goodmans, KPMG, PayPal, and Bank of Montreal.
Kira Standout Features and Integrations
Standout features include the export reports feature, which allows users to create custom charts and summaries that you can share with clients and your team members.
Integrations include Intralinks, Ansarada, Bryter, Conga, HighQ, Neota Logic, Prosperoware, and SeeUnity. You can also get additional integrations through API.
Pricing: Pricing available upon request
Trial: Free demo available
Pros
- Simple user interface
- Powerful search capabilities
- Built using patented machine learning technology
Cons
- Not suitable for small teams
- No free trial/plan available
9. Lexion - Best contract analytics software for easy adoption
Lexion is a contract management tool that empowers users to gain insights into their contracts.
Why I picked Lexion: I love that Lexion is easy to set up, and your team members can start using it instantly with the help of email workflows and no-code integrations. Users can initiate tasks from within their email inbox. Additionally, you can easily collaborate with team members via email or Lexion.
Lexion's folder-based file structure and document hierarchy make navigation of the software straightforward. This way, you can store and organize your contracts within Lexion. Also, its AI functionality automatically tracks key dates of your contracts and reminds you about upcoming events, including auto-renewal, cancellation, expiration dates, etc.
Lexion Standout Features and Integrations
Standout features include the search functionality, which instantly finds the contracts that you are looking for. You can search for contracts based on auto-renewal, payment dates, expiration, and so on.
Integrations include Google Drive, Slack, Gmail, Dropbox Business, DocuSign, Microsoft Teams, Box, Microsoft SharePoint, and Dropbox Sign. You can also get additional integrations through API.
Pricing: Pricing available upon request
Trial: Free demo available
Pros
- Easy and fast implementation
- AI-powered contract repository
- Integration with Gmail
Cons
- No free trial available
- Pricing details are not transparent
10. SirionAI - Best contract analytics software for 360-degree contract visibility
Sirion AI is a contract lifecycle management (CLM) software that provides 360-degree visibility of your business contracts. It provides a cloud-based and centralized repository of your contracts and utilizes AI technology to digitize and assess contracts.
Why I picked SirionAI: I picked Sirion AI because it provides 360-degree visibility of your entire contract visibility. It uses AI technology to provide contract extraction, collaboration, obligation management, and contract authoring.
Its analytics functionalities include advanced contract extraction, self-learning AI, and paper remediation. These features enable users to identify missing clauses and ensure compliance.
SirionAI Standout Features and Integrations
Standout features include collaboration tools that empower teams to work more efficiently. Sirion AI also integrates with productivity tools that empower teams to collaborate on the creation and analysis of contracts. Additionally, Sirion AI’s contract drafting feature uses AI to suggest missing clauses in your contracts.
Integrations include SAP, Oracle Salesforce, Microsoft Outlook, Service Now, DocuSign, Box, AWS, Metricstream, and Beeline.
Pricing: Pricing available upon request
Trial: Free demo available
Pros
- Great contract governance tools
- Provides auto-contract extraction tools
- Integrates with DocuSign
Cons
- Limited customization options
- No free trial/plan available
11. DocuSign Contract Analytics - Best contract analytics software for risk assessment
DocuSign Contract Analytics is a product offered by DocuSign, an electronic signature software. It employs artificial intelligence and machine learning techniques to automatically review, extract, and understand contract terms and clauses.
Why I picked DocuSign Contract Analytics: The risk assessment feature of DocuSign Contract Analytics helps evaluate and categorize the level of risk associated with specific clauses or terms within contracts. This functionality is valuable for businesses and legal departments because it helps them identify potentially problematic or non-standard clauses requiring further attention or negotiation.
It enables users to gain insights into the overall risk profile of their contract portfolio and make informed decisions about negotiations, compliance, and risk mitigation strategies.
DocuSign Contract Analytics Standout Features and Integrations
Standout features include customizable reporting and dashboard features that enable users to learn about their contract portfolio, track contract performance, and compliance.
Integrations are available with 400+ apps, including Salesforce, Zoom, Google, Oracle, SAP, Apple, Stripe, Workday, ServiceNow, and Microsoft Outlook. You can also get additional integrations through Zapier and API.
Pricing: Pricing available upon request
Pros
- Integration with MS Word
- Provides real-time document signing
- Easy to use
Cons
- Pricing details are not transparent
- No free trial/plan available
12. Conga Contract Intelligence - Best contract analytics software for creating risk reports
Conga Contract Intelligence is an AI-powered contract analytics and contract management platform.
Why I picked Conga Contract Intelligence: Conga Contract Intelligence is the best tool for creating risk reports. It uses AI and machine learning technology to extract key data, track obligations, and alleviate risk.
The platform offers a unique advantage by allowing businesses to define their rules that specifically outline what constitutes a risk. Through the power of AI, it automatically detects these defined risks when importing third-party contracts. This leads to an immediate generation of risk scores, which are determined by how much the extracted data deviates from the established standards and acceptable clauses.
Then, it suggests alternative language and clauses. This expedites the review process and enhances the overall quality of the contract.
Conga Contract Intelligence Standout Features and Integrations
Standout features include Optical Character Recognition (OCR), which converts PDF images into a searchable document.
Integrations include Google Drive, Dropbox Business, DocuSign, Salesforce Sales Cloud, Evernote Teams, HubSpot Marketing Hub, Adobe Acrobat Sign, NetSuite, Jive, and Conga CPQ. You can also get additional integrations through API.
Pricing: Pricing available upon request
Pros
- Provides 360-degree contract visibility
- Provides automated alerts and notifications to stay on top of contracts
- Provides easy contract ingestion and analysis
Cons
- OCR feature does not extract contract provisions
- Pricing details are not transparent
Other Options
Here are some other great contract analytics tools to consider:
- Model N Revenue Cloud - Best contract analytics software for live sciences and high-tech companies
- Loio - Best contract analytics software for analyzing complex contracts
- eBrevia Contract Analytics - Best contract analytics software for fast-growing companies
- CobbleStone Contract Insight Enterprise - Best contract analytics software for businesses of all sizes
- ContractSafe - Best contract analytics software for secure, cloud-based contract storage
- ContractNow - Best contract analytics software for operations teams
- Gatekeeper - Best contract analytics software for automated reminders on contract renewals
- Ironclad - Best contract analytics software for analyzing all contract types
Selection Criteria For Contract Analytics Software
Here’s a short summary of the main selection and evaluation criteria I used to develop my list of the best contract analytics software for this article:
Core Functionality
The best contract analytics software deliver the following core functionalities:
- Helps stakeholders analyze contracts and extract critical information such as clauses, dates, parties, and obligations
- Helps evaluate contracts to identify potential risks and ensure compliance
- Helps locate contracts based on specific criteria like keywords, dates, contract types, or parties involved
Key Features
To ensure the above functionalities, all software in this list have some combination of the following features:
- Clause identification and extraction: It pinpoints and extracts specific clauses or sections within contracts, making reviewing and analyzing individual provisions easier.
- Risk assessment and compliance monitoring: Contract analytics software assesses potential risks by identifying non-compliance with legal and regulatory requirements.
- Search and retrieval: This feature lets users quickly locate contracts based on specific criteria, such as keywords, dates, or contract types.
- Contract comparison: Some software offers the ability to compare contracts side by side, highlighting differences and similarities to facilitate negotiations and ensure consistency across agreements.
- Reporting and analytics: Contract analytics software generates reports and provides analytics on contract data.
Usability
I prioritized contract analysis tools with simple implementation and intuitive navigation. The tool should have a modern design, smooth onboarding, and good customer support. A powerful search feature should allow users to quickly locate contracts based on various criteria, such as keywords, dates, parties involved, or contract types.
Users should be able to view contract documents within the software and make basic edits or annotations without switching to an external application.
Software Integrations
Contract analytics software should ideally integrate with various tools and platforms to maximize utility and improve contract management processes. These integrations include CRM, enterprise resource planning (ERP) Systems, document management and storage solutions, and email and communication platforms.
Pricing
The pricing for contract analytics software can vary widely depending on factors such as the features, the complexity of the software, the vendor, and the level of customization required. Usually, contract analytics software offer customized pricing upon request.
People Also Ask
Have more questions about contract analytics software? Here are the answers to some frequently asked questions:
What are the benefits of contract analytics software?
Who uses contract analytics software?
What are the major types of contracts?
Other Revenue Operations Software
Do you want to add more revenue operations software to your tech stack? Check out these platforms:
- Conversion Rate Optimization Software
- Enterprise Contract Management Software
- Sales Mapping Software
- Cold Calling Software
What’s Next?
As you embark on the journey to enhance your contract management processes, remember that choosing the right software is just the beginning. Regularly reviewing and optimizing your approach will yield ongoing benefits. Keep an eye on emerging contract analytics and technology trends to stay ahead of the curve.
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