Top 10 Alternatives to SAP Ariba: Leading Contract Lifecycle Management Software Solutions

Contract lifecycle management software systematizes the often complicated process of negotiating contracts between two parties, such as buyers and suppliers. It provides solutions to efficiently manage workflows. It streamlines the processes for professionals in legal, finance, sales, and procurement operations. Utilizing it gives the user full control of the contractual process during its entire lifecycle starting from the initial request for proposal (RFP) to its renegotiations.

This solves the potential risks previously faced by contract managers. They used to note dates and key terms on the physical documents. These are kept in file cabinets. Spreadsheets are also maintained to track the agreements between entities. This type of filing is exposed to human errors like misplacement and loss. Eighty-five percent of companies are still using a manual process in managing their contracts. With this time-consuming method, 65% of legal professionals reveal the time lost is their largest problems.

Contracts are one of the most important aspects of a company. An organization is governed by agreements which are administered with contracts. These are crucial to run a successful operation. It can be achieved through maximizing the tools and features of a contract lifecycle management software (CLM). It will trim costs and boost efficiency for your company’s operations. In fact, businesses using the system receives 90% contract renewal rate. The contract approval time is also reduced to 82% which frees up time for employees to take care of other important administrative tasks.

Source: Apptus.com

There are many CLM solutions to choose from. In this article, you will know the leading products for both small and midsize businesses. Understanding the features, market trends, and deployment models are essential before making a purchase to ensure you get the best value for your investment.

What is SAP Ariba?

SAP Ariba is one of the world’s leading cloud-based procurement solutions for businesses. From its foundation in 1996 to its rebranding in 2016, it has helped businesses of all sizes to grow and be more efficient in all relevant aspects of their operations. They provide both businesses and suppliers with tools to make processes such as procurement, fulfillment, and financial supply chain simple and easy.

Likewise, users get essential insights in building and keeping relationships with partners. The transactions are also automatically guided by your preferences and qualities to ensure it is efficient and error-free. The intelligent tech removes the complexity of handling contracts and payments using its end-to-end automated CLM system. Moreover, it is designed for multiple types of goods and services. Hence, you’ll surely get the right features, apps, and extensions you need for your business.

Key SAP Ariba Features

  1. Supplier Management. Supplier information, lifecycle, performance, and risk is managed in one place. It reduces supplier risk with the use of significant segmentation and qualification integrated into the procurement procedures.
  2. Strategic Sourcing. Finding qualified and reliable suppliers is achieved using simple steps. Easy-to-use tools are available for sourcing, contracting, and spend analysis processes.
  3. Supply Chain. Solution for direct spend management. This provides a timely response when there are changes in supply and demand while guaranteeing profitability and shareholder value increases.
  4. Procurement. Cuts costs and risks of the buying and settlement operations.
  5. Financial Supply Chain. Transforming liabilities into payables and strategic assets to improve cash flow.
  6. Platform Solutions. Innovative services to enhance user experience in navigating through the platform.
  7. Integration Systems. Maximize your return on investment (ROI) with back-end solutions and enterprise resource planning (ERP).
  8. Services for Buyers. Assistance for change management, connectivity, and adoptions with the help of a customer engagement executive (CEE) to stimulate and optimize dynamic business commerce.

SAP Ariba is a reliable digital marketplace and B2B network. However, if it’s not what you’re looking for or if you’re interested to look at other options available, we gathered top 10 alternatives to SAP Ariba to guide you in choosing one that matches your preferences and business needs. These are some of the leading products in the niche with useful, effective features and tools.

Top 10 Alternatives to SAP Ariba

1. ManageEngine ServiceDesk

ManageEngine ServiceDesk is a help desk and asset management software. It provides IT solutions to deliver excellent customer service and deal IT issues in a timely and efficient fashion. It is one of the best-ranking CLM software because of its superior features in handling management-related matters in your business operations. One of its main purposes is to make sure IT contract renewals are processed on time through streamlining the entire contract management processes. Determine a new and a renewed contract is made simple while you and your clients are given notification alerts for contracts that are expiring. You may have a primary contract where you can establish a parent-child relationship to it and its sub-contracts. Various types such as a lease, maintenance, warranty, and support are available to cover your IT and non-IT assets and licenses. You can also match this solution with other ManageEngine ServiceDesk alternatives for a more in-depth analysis. If you’d like to try out the product on your own you can easily sign up for ManageEngine Service Desk free trial here.

2. IBM Emptoris

IBM Emptoris is a web-based contract management tool helping businesses around the world to manage the entire lifecycle of contracts. It combines the power of IBM Emptoris Contract Wizard and Microsoft Word Integration to create contracts in a hassle-free and timely manner. At the same time, you are given complete control over the terms, agreements, approvals, and operations to be included in the legal contract. Completed and existing documents are organized and compiled in a repository for easy retrieval in the future. The app consists of various types and categories of the contract. Users have specific roles that determine their definitive permissions in opening, handling, and completing various tasks in the system. Some of its key features include contract components, lifecycle, summary, locks, multi-party contracts, interview wizards, and more. If you want you can compare this software with other IBM Emptoris alternatives and see how it performs better.

3. Concord

Concord claims to be the only contract management platform that boosts business growth and maintains compliance with the use of efficiently managing the contracts’ entire lifecycle, speeding up the processes and risks compliance. However, using the software removes the potential risk so you can scale faster in a more sustainable way. One platform collects each person, process, and document for easier retrieval and filing. Intuitive features let users negotiate and edit contracts online, approve workflows, receive alerts for deadlines with security. Other features include legally binding e-signature, workflow management, compliance and coordination with various types of contracts. Concord is used by over 100,000 companies from independent contractors to small and medium-sized businesses.  If you think this software doesn’t fit your needs try other Concord alternatives.

4. Accelo

Accelo is included in the top 10 alternatives to SAP Ariba because of its easy-to-use and customizable features for automating business operations. The cloud-based software provides business solutions for project collaborations, customer relationship management (CRM), and client service. When it comes to contract management, they have pre-paid, post-paid, hybrid, fixed price, unlimited hours and more service contracts that are highly customizable and flexible. This allows on-going services to your clients in real-time. Tracking is made easy with replicable templates and automated triggers for recurring contracts. It helps manage contracts effortlessly through features like usage tracking based on hours or budget, communications tracking, automate recurring tasks, timesheets, and notifications, client portal for clients to view contracts, and more. Not sure about this software? You have plenty of  Accelo alternatives to choose from.

5. ContractWorks

ContractWorks is an easy-to-setup, secure, and robust CLM software. It can be implemented in 30 minutes and it’s simple to customize.  It has secured more than 10 million documents for different types of businesses securely, efficiently, and quickly. It has a drag-and-drop feature to fetch documents and folders for a faster organization. Clear visibility over your portfolio lessens potential risks when it comes to your business decisions. Hence, alerts are provided to keep you ahead of any contract-related engagements. It has a custom-built security to protect your data with industry-leading solutions. Its main strength is on focusing on contract management features and tools without the miscellaneous services provided by others that may cause confusion and chaos if they are not required by the business. Remember to compare this software with other ContractWorks alternatives for a holistic perspective.

6. Octiv

Octiv is a contract lifecycle management system that provides one platform for creating, sharing, signing, storing, analyzing, and handling all important documents of your business, especially contracts. Simplifying the process of signing contracts is achieved with the use of automation. This involves authoring, negotiating, reporting and completion of the agreements. Pre-built templates for agreements, contracts, and offers are customizable with your existing data. Inserting the appropriate legal clauses used to be a meticulous and time-consuming task, but the system offers situation-specific content to match your needs. Likewise, negotiating is tracked with notifications whenever changes are made. There is an easy viewing of the contract’s status, save and share new versions, and view the update history of the document. It provides a single, private URL for a more secure viewing of the contract. Clients can remotely view and sign contracts on any device with its cloud-based contract repository. Unhappy about this software? You can try other Octiv alternatives.

7. SpringCM

SpringCM is one of the leading cloud-based document management platforms. Manage contract renewal and regeneration in a timely manner using the system. Getting a contract signed and completed immediately equates to more revenue and reduced operating costs. This drives productivity, reduces risk, and streamlines crucial business processes. A central repository lets you share, store, and search for contracts easily.Tracking and reporting tools abolish bottlenecks, determine problems, generate contracts faster, and prepare for audits. Pre-approved templates are available which can be updated and customized quickly to prevent delays in the generation process. Reviewing the contract is streamlined by identifying each change and action done. This increases visibility for reviewers in every stage of the audit. For a more in-depth review, compare this software with other SpringCM alternatives.

8. Conga Novatus

Another leading software that automates contract lifecycle management process is Conga Novatus. It works by governing all aspects of the contract lifecycle. Company standard agreements are used for contract creation to ensure a safe and secure generation. Some of its features include advanced analytic, approval workflow, calendar, clause management, completion tracking, event alerts, milestone tracking, contract templates, electronic signature and more. Its suite of solutions is used by different brands to accelerate sales operations and simplify and automate data processes. The integration of e-signature allows faster approvals. All contract types are given shorter negotiation cycles while ensuring efficiency. Data integrity is improved by using a single and reliable repository system for storing, managing, and tracking all contracts digitally. Do you have reservations about this solution? You have plenty of Conga Novatus alternatives.

9. Icertis

Icertis is a contract lifecycle management software that provides ease of use, deployment, and adaption for various types of contract that can be viewed anywhere, anytime. Over 1 million users trust the software for solving their CLM needs where they manage over 3.5 million contracts. It is widely available in across 90 countries in more than 40 languages. Driving commerce to the business is a significant aspect. The system addresses this need by providing innovative approaches to transform contracts into business assets. This can give different types of businesses the accelerate revenue, manage potential risks and control costs. The platform streamlines all contract and associated documentation. Some of its key features include contract analysis, intelligent contract authoring, collaboration and negotiations, risk management and compliance, and more. For more options you can check Icertis alternatives and see which one fits your needs to a tee.

10. CTM eContracts

CTM eContracts made it to the top 10 alternatives to SAP Ariba because of its impressive solutions geared for real estate contracts. Real estate agents and managers make use of this software due to its specialized tools and features. It has an interactive digital contract which allows the users to complete their transactions online. Changes made in the documents emailed to the clients are updated automatically which reduces time in sending the files back-and-forth every time there are updated clauses and agreements. Web Signature and Web Initials are features that let customers sign contracts online. It is compatible with laptops, smartphones, and tablets so users can utilize in anywhere in the world at any time. The data management solution offers other functions like monitoring and tracking contract deadlines, broker management access, template creation, and more.There are other CTM eContracts alternatives to choose from if you want to broaden your options.

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