#1 most frequent
United States of America
78.0%103 installations of 132
What is ContractWorks, An Onit Product?
ContractWorks aims to make executing, storing, and tracking corporate agreements easier and more accessible to businesses and teams of all sizes, by providing what they describe as a quick implementation, an easy-to-use interface, and pricing starting at $700/month for unlimited users. In addition to features needed to manage agreements, users get a team of support professionals to help get the most out of their contract portfolio.
- Smart Document Tagging & Customizable Reporting - proprietary artificial intelligence automatically tags agreement type, parties, effective date, termination date, initial term, renewal term, and termination notice window, so you can quickly run reports to understand the contents of a contract portfolio
- Alerts & Notifications - avoid missed renewals and expiration dates
- Low, Transparent Pricing - unlimited users and support with all accounts
- Built-In Electronic Signature - standard with all accounts, no cumbersome API
Categories & Use Cases
Media
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Screenshot of ContractWorks can be used to create custom "tags" to track important contract information that becomes searchable and reportable.
Top Performing Features
Contract database
Contracts are stored and organized in a central repository.
Category average: 8.4
Contract search
Users can easily look up contracts within the database.
Category average: 8.3
Contract milestone reminders & alerts
Users can schedule reminders and/or trigger alerts according to contract milestones.
Category average: 8.1
Areas for Improvement
Tracking contract status
Users can track the status of a contract as it moves through the approval process and beyond.
Category average: 8.2
Contract sharing
Users can easily and securely share contracts with internal users and external users. Contracts are accessible.
Category average: 8.2
Custom contract reports
Users can create custom reports about the status of contracts, contract timelines, efficiency, and revenue tied to contracts.
Category average: 7.9
Who Buys & Uses ContractWorks, An Onit Product
#2 most frequent
Australia
4.5%6 installations of 132
#3 most frequent
United Kingdom of Great Britain and Northern Ireland
3.8%5 installations of 132
Easy to use Product
Use Cases and Deployment Scope
It is where our company houses all of its service contracts. It addressed the problem of all contracts being in one place.
Pros
- Organizes documents[.]
- Makes it easy to categorize them[.]
- Makes it easy to find them[.]
Cons
- N/A so far [I] have no changes.
Return on Investment
- increased employee [efficiency.]
- Able to find all contracts now[.]
Other Software Used
Yardi Voyager
Usability
ContractWorks from a DownUnder ViewPoint
Pros
- E-sign
- KPI tracking
- Notifications of key milestones
Cons
- E-sign: Transferring of signatures would be ideal or the loading of a personal signature into the e-sign field rather than a generic signature being populated.
- AI: The tagging does not pick up things nor does the software really learn what you want it to. There is a fair bit of manual data entry that has to be done.
Return on Investment
- It has opened up a lot of time that contract managers/administrators wasted.
- Added efficiencies and the ability to manage contracts remotely.
Usability
Efficient, user-friendly platform
Use Cases and Deployment Scope
Our company uses ContractWorks as our contract database. It is extremely user-friendly and allows for easy access and organization across different departments within the company.
Pros
- User-friendly with training tools and webinars.
- Responsive customer support.
- Effective search tool to quickly navigate through documents.
Cons
- A lot of manual entry needed when utilizing the e-signature function.
Return on Investment
- increased efficiency for contract review across departments
Usability
Give it a spin, you won't regret it.
Use Cases and Deployment Scope
We implemented CW across the Firm to manage all the agreements excluding employment. We have been able to get a 95% hold of the agreements and, in time, to implement several measures to manage them more efficiently. Results have been excellent, CW is very easy to use and powerful at what it does.
Pros
- Managing renewals[.]
- Managing timed fee increases[.]
- Easy storing and retrieval of contracts[.]
- Manage roles to determine who sees what. Very granular.
- [The] signature process is quite powerful, and because it's integrated comes with management.
Cons
- Could use a more serious lift in communication to match its features. We are a law firm, not a startup.
Return on Investment
- We have not evaluated the ROI, but considering the cost it has been great.
Alternatives Considered
Agiloft Contract Lifecycle Management, Onit Contract Lifecycle Management, Conga CLM (Conga Contracts), Coupa, Contract Assistant, Scout RFP and Zycus Procure to Pay Suite
Usability
User-friendly, flexible, and great support
Use Cases and Deployment Scope
We're using ContractWorks to centralize, organize and increase visibility on our supplier contracts. Previously, contracts were housed with various departments. Centralization allows us to see when one supplier provides multiple services across the Enterprise. Tagging Templates allow us to easily create alerts for term and language updates, as well as run reports for specific Ts & Cs.
Pros
- The product allows you to grow into the features and price points. No additional charges for implementation support. We started with one department, then shared our positive experiences with other departments to gain wider acceptance.
- Stellar customer support! Great variety with video, email, and phone assistance. Product training and tutorials are also readily available for self-service. The short (live or on-demand) webinars are quick, to the point, and very helpful to continually learn how to better use ContractWorks.
- The flexible folder structure is super easy to set up and match needs for each department. Easy to navigate and drag & drop to load documents.
- ContractWorks account managers listen to customers and the organization responds with new and improved features.
- ContractWorks continues to improve upon and expand platform capabilities
Cons
- Bulk sending contracts/documents for annual updates and eSignatures
- I haven't gotten the hang of creating Reports. It's still mostly trial and error for me.
Return on Investment
- Able to access contracts without challenges when staff changes
- Milestone alerts allow us to be proactive rather than reactive for renewals
- Better document version control to keep all Ts & Cs up to date.
- Ability to 'match' or identify related documents
Alternatives Considered
Agiloft Contract Lifecycle Management
Other Software Used
Microsoft Teams, Atlassian Jira Align (formerly AgileCraft), PairSoft (PaperSave + Paramount Workplace)
