Contract management software.
Three categories. Different use cases.
Contract management software covers three distinct tools: contract review (flag risks before signing), CLM platforms (manage contracts after signing), and eSignature tools (execute contracts). Most businesses need one, not all three.
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Three categories of contract software.
Each solves a different problem. Most businesses need one - some need two.
They solve different problems. Contract review software (Kontractually) tells you what's wrong with a contract before you sign it. Contract management software (Ironclad, SpotDraft) manages the contract workflow - creation, approvals, signing, and storage. Most small businesses need review software first: you're receiving contracts from customers and suppliers and need to understand what you're agreeing to. CLM tools become relevant when you're issuing high volumes of standardised contracts and need workflow automation.
Yes - they complement each other. A common setup: use Kontractually to review incoming contracts from counterparties (checking against your playbook before you agree), and use a CLM tool to manage your outgoing contract workflow (templating, approvals, signing, storage). Kontractually focuses on the review step; CLM tools focus on the workflow step.
CLM tools like Ironclad and SpotDraft are enterprise-priced - typically $500-$2,000+/month depending on user count and features. DocuSign CLM is similarly priced. Kontractually is designed for SMBs at a fraction of enterprise CLM pricing - unlimited reviews per seat, no per-review charges. First 3 reviews are free.
For small businesses, the ROI on enterprise CLM tools is often hard to justify. The complexity and pricing assume a legal operations team or high-volume contract issuance. For small businesses, the higher-value investment is review software (Kontractually) to ensure every contract you sign has been checked - that directly reduces legal risk. CLM workflow becomes relevant when you're issuing hundreds of contracts per month.
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Start with contract review. It's where the risk is.
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