If I said you could have a customized Contract Management tool for under $300 a year, would you believe me? Well, you should!

Contract management is a critical function for any business, regardless of its size or industry. Nobody wants to go back to a boss, a client, or a board with the news that they missed a notification of nonrenewal and have to pay for a contract that don't need or a contract expired and your services are being shut off. It's bad for business and it's so easily avoidable!

The contract management landscape can be particularly challenging for small to medium businesses (SMBs), and even some larger organizations, due to the complexity and cost associated with managing contracts effectively. With so many options available, from high-end Contract Lifecycle Management (CLM) systems to rudimentary solutions, it can be difficult to find the right fit.

The Challenges of Contract Management for SMBs

For many, the idea of implementing a full-scale CLM system is both appealing and intimidating. The concept is sound—a centralized platform that streamlines the entire contract lifecycle, from creation and negotiation to execution and renewal. But the reality is that these systems often come with a hefty price tag for yearly subscription and implementation, requiring significant investment in both time and resources. For businesses without the budget or manpower to support such an implementation, this can seem like an insurmountable hurdle.

For many businesses, it's simply not the answer. They don't need an expensive tool to send contracts back and forth with the other party; they've been doing fine with email. They don't need the built-in integration with an e-signature platform; they have it as a standalone and that works perfectly well for them. All they want to do is store and track contract metadata efficiently!

CLM: Great in Theory, But Not Always the Best Fit

While CLM tools are undoubtedly powerful, they aren’t always the right fit for every business. Particularly for smaller organizations, the cost and complexity of these systems can far outweigh the benefits. It’s important to remember that contract management doesn’t need to be prohibitively expensive or overly complex. There’s a middle ground between investing in an elaborate CLM system and relying on a physical filing cabinet stuffed with contracts.

Finding the Right Balance

There is a happy medium between the extremes. Imagine a solution that offers the essential features of a CLM system—tracking key dates and milestones, automating reports, and providing easy access to all your employees or key segments of clients to your contracts—without the burdensome cost or complexity.

Would you believe me if I told you that I could build you a contract management tool that had an annual cost to own of less than $300?

You should! Here's how.

At Procurement Counsel, we specialize in creating practical, cost-effective contract management solutions. Using Smartsheet

(not a sponsor, yet!), we can help you develop a customized contracts database that is easy to use, scalable, and affordable.

For the folks who want to be fancy or need live reports and metrics extracted from the contract data, with dashboard options to go along with this tool! It's all custom-built and a price CLM vendors could never touch.

Smartsheet: A Smarter Way to Manage Contracts

With Smartsheet, you can have a robust contract management system that allows you and your team to add new contracts easily, track important dates, terms, and milestones, and generate automatic reports—all without breaking the bank. This isn’t just about storing contracts; it’s about managing them in a way that helps your business run smoothly and mitigate risk!

By leveraging the power of Smartsheet, we can help you set up a system that grows with your business, offering the functionality you need at a fraction of the cost of traditional CLM tools.

Let's Start the Conversation

If you’re feeling overwhelmed by the prospect of managing your contracts, we’re here to help. There’s no need to spend a fortune or continue to create business risk by logging things in an Excel sheet. Contact us today to discuss how we can build a custom contract management solution that meets your needs and your budget.

In today’s competitive business environment, effective contract management is more important than ever. Don’t let the challenges hold you back—let’s find the right solution for your business together.