Companies with an active contract portfolio often need contract management software to help them stay on top of their executed contracts, and they will benefit in many ways from using a service that offers practical features. However, many companies are hesitant to transition away from traditional contract management processes, primarily due to concerns about the efficiency and price of contract management software.
People often ask us why some contract management software is so expensive, especially when comparing other products to ContractWorks. Here is a brief list of reasons that some software is so expensive and how ContractWorks is different:
(1) They are very complicated, sometimes with superfluous features or capabilities.
Good software is designed to facilitate business processes in the most efficient and affordable manner possible. Unfortunately, some software developers take things a bit too far, including a host of features that sound fancy during a sales pitch and supposedly justify the higher cost imposed, but that the end-users are unlikely to ever use.
ContractWorks: We provide a simple contract management solution that is easy to use and includes straightforward features that clients want, need, and will use.
(2) Complicated software usually requires extensive training and implementation, with the cost of this passed on to the client.
The more complicated software is and the more features it has, the more likely it is that it will take a significant amount of time to set it up. And, clients will need specialized training to learn how to use it. This may entail individual or group training seminars, as well as published materials explaining the software’s minutiae, all of which pushes up the price.
ContractWorks: We provide a simple user interface that can be learned within minutes of using it, without having to devote hours upon hours to training seminars or poring over instruction manuals.
(3) Some software must be installed, often resulting in a hefty purchase price because the service is not provided on a subscription basis.
Although cloud-based services are increasingly available and surging in popularity, there are still a lot of business solutions that must be installed locally on a hard drive. This often involves the time and expertise of a software technician, and it isn’t always a quick and easy process.
ContractWorks: We provide a highly secure, cloud-based solution that requires minimal implementation time and immediate usability.
(4) Many software providers levy additional fees and charges for adding users or storage space, increasing the total cost of the service.
There are perhaps a few too many software solutions that have a complicated chart explaining all of the pricing possibilities. They usually begin with a base price that sounds reasonable, but then as users, storage space, or other features are added, the final price can end up being quadruple the initial expectation.
ContractWorks: We offer low, flat-fee pricing that includes unlimited users and storage, with all features automatically included. And, there are never surprise fees or charges.
(5) Some software providers have seperate packages or pricing for technical support and troubleshooting.
In addition to racking up the bill by charging for more users or storage, some providers even charge separately for technical support. This may be an additional annual package or monthly fee, and it can add up quickly.