How much does contract management software cost in 2024?

Buyer’s Guides
July 28, 2023
6
min
Want to find out how much contract management software will cost a business like yours? Find out in this guide to contract management software pricing.

How much does contract management software cost?

The cost of contract management software varies a lot between different vendors. Some vendors will offer contract tools for less than $10 a year. Other providers will provide six-figure quotes. 

This means there’s no easy way to benchmark how much you should pay for contract tools. When deciding what you’re willing to pay, you should consider the following things:

  • Budget: how much can you afford to pay to solve the problems with your contract process?
  • Cost of existing tools: how much are you paying for your traditional contract tools right now? 
  • Features: which features do you need to make your contract process more efficient?
  • Complexity: how complex are your requirements for a contract tool?
  • Users: how many people will be using the system internally?
  • Cost of inefficiency: how much money does your business lose from inefficient contract processes?

Juro offers flexible pricing plans that work for every business, with unlimited users, workflows and templates included in all plans as standard. All of Juro’s plans all offer end-to-end contract management features, making the faster contracting affordable for businesses of all sizes. 

To discuss your requirements with a specialist, hit the button below. 

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Contract management software pricing: how does it work?

Different contract management vendors operate with different pricing plans and models. This means that the cost of contract management tools can vary a lot depending on which solution and plan you choose. That said, most vendors use one of the three pricing models listed below. 

User-based pricing 

User-based pricing models charge businesses a monthly or annual fee for each individual user.

This approach works well for businesses with small teams as it can bring the total cost of contract management software down. However, user-based pricing does mean that the cost of the solution can increase dramatically for teams as they grow.

Flat rate pricing

Flat rate pricing models charge a standard monthly or annual fee for businesses, regardless of how many users they have.

This can be beneficial for large teams with lots of users as it means that the price doesn’t depend on the number of users. However, the flat rate can sometimes work out more expensive for businesses with only a handful of users. 

Custom pricing 

Custom pricing is tailored to individual businesses based on their unique and specific requirements. Custom pricing plans are most popular among large businesses with more advanced security and implementation requirements.

Custom pricing plans can vary considerably depending on the features, users, workflows, and setup you need. 

How is contract management software pricing calculated?

Regardless of which pricing plan you’re on, there will often be other variables that determine how much you pay for contract management software. These variables can include anything from the features you need to how much support is required during the implementation process.

1. Specific features

If you’ve looked at contract management software pricing plans already, you’ll have noticed that certain features are locked behind certain plans. This enables customers to only pay for the features they need. 

But it also means that businesses are often forced into more expensive plans to access individual features.

At Juro, we’ve packed all of our core features into our most affordable plan. Juro users will have access to functionality for every stage of the contract lifecycle, even if they are on our Essentials plan. 

Only certain integrations, security, and support options are locked behind our other plans. This means that all Juro users have access to the features they need to agree contracts up to ten times faster, regardless of how much they pay. 

2. Number (and type) of users 

As we mentioned earlier in the article, the number of users your business has will often determine how much you pay for contract management software. Businesses on a user-based pricing model will need to pay for individual users, meaning the final cost will depend on how many team members will use the tool. 

That said, it’s common for contract management platforms’ pricing models to differentiate between admins and standard users. Usually, admin licenses that provide more access to the tool will cost more than standard users. This means it's important to decide what access individual users will require before requesting a quote. 

Juro doesn’t charge per user, though. All of Juro’s plans offer unlimited users, unlimited workflows, and unlimited templates. This makes Juro one of the most affordable solutions on the market for fast-growing businesses. To find out more about how Juro’s flexible pricing plans work, check out our pricing page

3. Third-party integrations 

Contract management software pricing also varies depending on the integrations you require, and which plans they are included in.

It’s worth considering which tools your business is already using and how these could be integrated to make your contract workflows faster and more efficient. 

If you’re not sure which integrations you require yet, the following guides and explainers can help: 

Juro integrates with 5000+ tools, and all of these integrations are available in our most popular pricing plan: ‘Growth’. To find out more, book a personalized demo today.

4. Implementation and training

It’s also common for contract management software vendors to charge more for different implementation, training, and customer support options. 

For example, legacy CLM solutions tend to charge the most for their implementation because their tools are more heavyweight and require greater customization. Meanwhile, more modern and straightforward contract tools like Juro will  have lower implementation fees as they require heavy lifting and support from the vendor to set up. 

Is contract management software worth the price?

While contract management software can be a big investment, but it tends to have a strong return on this investment (ROI).

Just consider the cost of ineffective and fragmented contract processes for your organization. A typical business with 1000 employees spends $2.5 million to $3.5 million just searching for and recreating lost documents, and ineffective contract processes can cost businesses up to 9.2% of their bottom line.

Adopting a solution like Juro can transform your contract management process, creating cost savings and providing a faster route to revenue throughout your organization. 

Our return on investment is definitely in the six figures. I’d recommend Juro to anyone - Mark Scrine, Client Services Manager, GAGAGO
We saved $8000 a year having cancelled our subscription to the eSigning platform - Juro has a native eSignature, and covers the pre- and post- signature stages. That’s the biggest return on investment - Ulrika Leikvang, Head of Legal, Tibber

Juro enables businesses to agree contracts up to ten times faster than with traditional tools. This means less of legal’s time is spent on routine contract admin, enabling them to focus on higher-value work. It also means that sales reps are empowered to close their deals faster, making it easier to capture revenue for the business. 

To find out more about how Juro can make your contracting process faster and more cost-efficient, check out our case studies or fill in the form below to speak to our team of specialists. 

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