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Contract Management Software ROI Calculator

See how much time (and money) contract management software could save you.

Contract management more than pays for itself in time and energy (not to mention headaches) saved. 

Here are just a few ways contract management can save you time — and money:

  • Reducing time spent organizing and searching for documents
  • Improving contract performance by tracking key metrics
  • Keeping track of important dates and milestones
  • Assuring regulatory compliance
  • Automating mundane tasks and streamlining process workflows
 

Contract Management Software ROI Calculator

How Much Time Do You Spend On the Following Activities?

Current numbers are based on our estimates of average time spent. These can be changed, but the total cannot exceed 100%.

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Please ensure numbers add up to 100% or less. Remaining 0

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Contract Management ROI:

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Total Annual Savings:

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ContractSafe

Save Per Year with ContractSafe

Inefficient and outdated contract management takes its toll on any organization. Time-wasting activities such as searching in folders for documents, tracking expiration dates via spreadsheets, and scrambling to respond to audits and diligence can lead to errors, costly fines, lost revenue, and stressed-out employees.

ContractSafe offers streamlined contract management that anyone can use. It makes it easy to find any document, send important date reminders, and keep track of contracts across the organization. And it’ll save your organization time and money, too.

Based on the data you entered:

Your ROI:

ROI looks at the amount of money a tool can make (or save) your organization compared to how much it costs. A good contract management system can save you money and expand your revenue. And ContractSafe is the most affordable CMS around–making the ROI even higher.

Total annual savings:

Unfavorable or unwanted vendor contract renewals cost companies thousands of dollars each year. Contract date alerts make it easy to stay on top of every contract.

Time Saved:

The average legal department lawyer spends up to 40% of their time working on tasks that don’t require a lawyer’s expertise. Streamlined contract management lets you get back to other tasks.

ContractSafe may also save you: about a dozen headaches, a handful of missed deadlines, a multitude of frustrating phone calls, and a plethora of hair-tearing-out moments when you can’t find the document you’re looking for. And your peace of mind. But who’s counting?

Every organization is unique. We want to make sure you find the best solution to fit your specific needs. Based on your answers, below are just a few ways ContractSafe can streamline your contract management process.

Ready to get started? ContractSafe wins awards for fast implementation and overall ease of use. Schedule a personalized demo to see ContractSafe in action for yourself.

How Does the ROI Calculator Work?

The ROI calculator works by entering a few key details and measuring those against some industry averages, as well as the cost of our software, in order to provide you with an estimated ROI, how much time and money you could save every year, and an estimated payback period.

Here’s what you’ll need to get started:

  • The number of active contracts your business is currently holding, including contracts that may be expiring soon or automatically renewing.
  • The number of people who are managing contracts and the number of people (inside or outside of your organization) who regularly interact with contracts
  • A general sense of how much time is spent managing contracts
  • The estimated annual value of the contracts 

When you’ve got that info, all you need to do is enter it into the fields above, and boom, you’ll have a forecast showing you an estimate of the software’s ROI, how much time and money it’ll save you, and how many days it’ll take to make that money back. 

Our Methodology

In order to create this calculator, we compiled salary data for in-house lawyers and supporting legal staff from the U.S. Bureau of Labor Statistics and Salary.com. We also used pricing and efficiency gains for ContractSafe's own software.

FAQs

Here are a few frequently asked questions to help you determine whether contract management software is right for you and your business: 

 

What Are the Benefits of Contract Management Software?

Contract management software can help streamline the process of managing contracts, making it easier and faster to view, review and sign. It also improves visibility into expiration dates, eliminates risks associated with non-compliance, and provides access control for sensitive documents and audit trails for regulatory compliance. The result? Cost savings in time and effort that can directly contribute to your bottom line. 

Does a Small Organization Need Contract Management Software?

Yes! Small organizations can benefit from contract management software. When it comes to managing contracts, many small organizations face challenges such as manually tracking paper documents and multiple versions of the same document, leading to security issues and inefficiencies. With an automated solution, these organizations can streamline the entire process, reducing costs and increasing accuracy.

How Much Does Contract Management Software Cost?

Costs of contract management software vary depending on the size and complexity of the solution, as well as its features. Generally speaking, subscription-based solutions are more cost-effective than one-time purchases, offering flexible plans that can fit any budget. Take a look at our pricing structure.

Should My Business Use Contract Management Software?

Committing to contract management software is a big deal, so you'll want to make sure it's worth it. ROI is an important factor to consider when evaluating any business technology, and the same holds true for contract management tools. It’s important to calculate the value of the time and money saved by automating processes versus manually.

What's Next?

If you’ve made it this far, it’s safe to assume that the numbers make sense for your business.

Ready to get started? See how ContractSafe stacks up to competitors, or schedule a demo to learn all the different ways we can optimize your contract management process.

 

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