Contract Management Market Poised for Consolidation

Vendor Management

The contract management software market is moving toward a merger and acquisition spree. Choosing the right vendor can be a risky proposition. This does not mean organizations should delay a contract management purchase. Instead, it means decision makers should carefully weigh the pros and cons of purchasing an Oracle or SAP module versus a best-of-breed solution.

Base Requirements

In order to obtain the business benefits from contract management software, the application must have the following functionality:
- Central searchable contract repository.
- Contract templates.
- Redlining and version control with check-in/check-out capability.
- Integration with Microsoft Word.
- Basic reporting capabilities.

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