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With so many different contract analytics software available, figuring out which is right for you is tough. You know you want to extract and interpret data from contracts more efficiently, but need to figure out which tool is best. I've got you! In this post I'll help make your choice easy, sharing my personal experiences using dozens of different contract analytics tools with various teams and departments, with my picks of the best contract analytics software.

What Is Contract Analytics Software?

Contract analytics software is a digital tool used for analyzing and managing contractual documents. It employs artificial intelligence and machine learning to extract, interpret, and organize key information from contracts. This software provides comprehensive insights into contract terms, obligations, compliance, and risks, and integrates with existing contract management systems for enhanced functionality.

The benefits of contract analytics software include improved visibility and control over contract terms and performance, leading to better risk management and compliance with legal standards.

It streamlines contract management processes, making it easier to track contract lifecycles and obligations. The software also aids in informed decision-making by providing data-driven insights, identifying opportunities for cost savings, and ensuring proactive contract monitoring. Additionally, it saves time by automating the extraction and analysis of contract data, thereby increasing overall efficiency in contract management.

Worried about a contract's validity? Discover what makes a contract void.

Overviews Of The 10 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.

Best contract analytics software for risk assessment

  • 30-day free trial
  • From $10/user/month
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Rating: 4.5/5

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.

Pros and cons

Pros:

  • Easy to use
  • Provides real-time document signing
  • Integration with MS Word

Cons:

  • No free trial/plan available
  • Pricing details are not transparent

Best contract analytics software for analyzing existing agreements

  • Free demo available
  • Pricing upon request
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Rating: 4.7/5

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.

Pros and cons

Pros:

  • Easy to use
  • Customizable alerts and notifications
  • AI-powered contract analytics

Cons:

  • No mobile app
  • Pricing details are not transparent

Best contract analytics software for enterprises

  • Pricing upon request
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Rating: 4.2/5

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.

Pros and cons

Pros:

  • Powerful search feature
  • Allows separate access for different roles
  • Great customization options

Cons:

  • No free plan/trial available
  • Implementation and onboarding can be lengthy

Best contract analytics software for contract data extraction

  • Free demo available
  • Pricing upon request

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.

Pros and cons

Pros:

  • Built using patented machine learning technology
  • Powerful search capabilities
  • Simple user interface

Cons:

  • No free trial/plan available
  • Not suitable for small teams

Best contract analytics software for compliance monitoring

  • Free demo available
  • Pricing upon request

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.

Pros and cons

Pros:

  • Customizable workflows
  • End-to-end contract lifecycle management
  • AI-powered contract management capabilities

Cons:

  • No mobile app
  • No free trial available

Best contract analytics software for creating risk reports

  • Pricing upon request

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.

Pros and cons

Pros:

  • Provides easy contract ingestion and analysis
  • Provides automated alerts and notifications to stay on top of contracts
  • Provides 360-degree contract visibility

Cons:

  • Pricing details are not transparent
  • OCR feature does not extract contract provisions

Best contract analytics software for revenue loss analysis

  • Pricing upon request

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.

Pros and cons

Pros:

  • Offers approval workflow automation
  • Provides a clause library with pre-approved language and terms
  • Easy to use and operate

Cons:

  • No free trial/plan available
  • Pricing details are not transparent

Best contract analytics software for various company departments

  • Free demo available
  • Pricing upon request

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.

Pros and cons

Pros:

  • Good encryption feature
  • Supports popular document storage tools
  • User-friendly interface

Cons:

  • Pricing details are not transparent
  • Steep learning curve

Best contract analytics software for 360-degree contract visibility

  • Free demo available
  • Pricing upon request

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.

Pros and cons

Pros:

  • Integrates with DocuSign
  • Provides auto-contract extraction tools
  • Great contract governance tools

Cons:

  • No free trial/plan available
  • Limited customization options

Best contract analytics software for obligation tracking

  • Pricing upon request

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.

Pros and cons

Pros:

  • AI-powered contract analysis
  • Helps manage the entire contract lifecycle
  • Great contract library tool

Cons:

  • Pricing details are not transparent
  • Limited integrations
Tools Price
DocuSign From $10/user/month
Evisort Pricing upon request
Icertis Pricing upon request
Kira Pricing upon request
IntelAgree Pricing upon request
Conga Contract Intelligence Pricing upon request
Malbek Pricing upon request
LinkSquares Pricing upon request
SirionAI Pricing upon request
Affinitext Pricing upon request
Preview Image - <h2 class="c-block__title b-summary-table__title c-listicle__title h3" > Compare Software Specs Side by Side</h2>

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Other Options

Here are some other great contract analytics tools to consider:

  1. Lexion

    Best contract analytics software for easy adoption

  2. CobbleStone Contract Insight

    Best contract analytics software for businesses of all sizes

  3. ContractSafe

    Best contract analytics software for secure, cloud-based contract storage

  4. Gatekeeper

    Best contract analytics software for automated reminders on contract renewals

  5. Loio

    Best contract analytics software for analyzing complex contracts

  6. Model N Revenue Cloud

    Best contract analytics software for live sciences and high-tech companies

  7. Ironclad

    Best contract analytics software for analyzing all contract types

  8. eBrevia Contract Analytics

    Best contract analytics software for fast-growing companies

  9. ContractNow

    Best contract analytics software for operations teams

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?

Manual contract review is expected to be reduced to 50% due to the adoption of contract analytics solutions. This is because contract analytics software provides several advantages, including increased efficiency in contract review processes, reduced risk of errors or oversights, improved compliance with legal and regulatory requirements, and enhanced insights for better decision-making. It also enables businesses to identify cost-saving opportunities and optimize contract terms, ultimately leading to more effective contract management.

Who uses contract analytics software?

A wide range of professionals and organizations use contract analytics software. This includes legal teams within corporations, law firms, procurement departments, contract managers, and compliance officers. Additionally, businesses across various industries, such as healthcare, finance, and technology, leverage this software to manage their contract management processes.

What are the major types of contracts?

There are several common types of contracts, including sales contracts, employment contracts, lease agreements, partnership agreements, and service contracts. Each type serves a specific purpose, outlining the parties’ agreed-upon terms and conditions. These contracts are legally binding documents that establish each party’s rights, responsibilities, and obligations in a transaction or agreement.

Other Revenue Operations Software

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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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By Phil Gray

Philip Gray is the COO of Black and White Zebra and Founding Editor of The RevOps Team. A business renaissance man with his hands in many departmental pies, he is an advocate of centralized data management, holistic planning, and process automation. It's this love for data and all things revenue operations landed him the role as resident big brain for The RevOps Team.

With 10+ years of experience in leadership and operations in industries that include biotechnology, healthcare, logistics, and SaaS, he applies a considerable broad scope of experience in business that lets him see the big picture. An unapologetic buzzword apologist, you can often find him double clicking, drilling down, and unpacking all the things.