Selection guide

Conclusion

A list of well established Contract Management vendors can be found using the functionality matrix at http://contractmanagement-software.org/find-product. This page acts as a kind of Universal RFP where you select the functionality you need and let find matching products. You do not need to register or provide any contact information to use the server.

There are four steps to finding the right Contract Management vendor:

Describe what you want in as much detail as possible. You will have to do this eventually in any case and it will save you from making an expensive mistake if you do it up front.
Find a set of potential vendors and send a brief version of your RFP.
Narrow down the list of potential vendors to short list of around three and ask them the detailed quantitative questions in the full RFP. If you do not know how to quantify, ask the other vendors for their suggestions.
Get a demo of your desired process from the remaining contenders a short while after your provide the full RFP and ask them to make modifications during the demo. Ask yourself whether you would be able to make such changes without their help. Request a fixed price implementation and negotiate pricing for additional seats in advance.

Choosing the best Contract Management vendor is critical. Yet, it can be challenging, but it is a lot less effort than trying to make a bad choice successful after the fact. By following the above guidelines, you will greatly increase your chances of a successful implementation.

« Selection Guide: Negotiating Price / Next: Submit your white paper »