Organizations are using Contract Lifestyle Management (CLM) to embrace digital contracting. The platform integrates a company’s functions and processes. Besides, CLM allows for fast contract execution and increases your business velocity. Icertis and Ironclad are among the leading contract management tools in the industry.
Finding the ideal contract software for your company involves comprehensive research. Furthermore, you need to understand the features of contract management platforms for easy selection. Here are details on Icertis vs Ironclad.
Icertis Contract Management Software has a simplified user interface. You can deploy and use the application without hiring a professional. Remember, this tool has features to solve challenging contract management issues in your firm.
Moreover, it automatically profiles a contract to identify areas that require your attention. Also, the software has auto extraction and tracking features that ensure you locate an agreement for execution. The tracking elements save time taken to retrieve a file.
Icertis has a digital signature that allows you to sign agreements online. Keep in mind that the other party must sign the agreement to seal a deal legally. This feature ensures that you do not need to download the contract document to sign it manually. Icertis will automatically sign your agreement.
Preparing contract templates is hectic and time-consuming. Fortunately, Icertis contract management software has several templates and plans for your agreement. Ensure that the template has sides for both parties. Also, it should allow for text search.
Conversely, Ironclad will help your organization automate and streamline simple and complex contracts. The software has a workflow designer and drag-and-drop UI elements for easy contract business processes. Ironclad has powerful in-built editing and negotiation features that unite teams to complete tasks.
The dynamic repository will unlock agreement details in real time. This element provides legal facts concerning a business issue. Insights on launching agreements and the approved contracts are available. Thus, you save the cost of hiring experts.
Like Icertis, Ironclad has a dashboard that contains the organization’s contracts. Dashboard filters show the status of each contract and make it easy to search and access the agreements. The dashboard has a notification element to show the events taking place in your company.
Aligning processes and ideas is difficult in any organization, especially during contracting. Assembling details from different units requires team collaboration and cooperation. Fortunately, the Ironclad contract management tool has simplified the alignment process. The software gathers relevant facts from various communication channels. It uses the audit trail to present the collected details.
Ironclad has editor features that match a company’s contracts. It compares versions, track changes, make edits, and add comments to a completed agreement. Note that Ironclad is compatible with Microsoft Word.
Use Ironclad Connect to invite stakeholders or the other party to use your platform for easy collaboration. Besides, the Ironclad Clickwrap allows online document signing to bind the agreement legally.
Icertis and Ironclad tools have almost similar features. Even so, your business demands and budget will determine the agreement tool to acquire. Ensure that the software provider is certified to sell the application you pick.