When evaluating Contract Management solutions, it is important to clearly understand your business requirements and priorities first. What is it that you want the Contract Management solution to do for your business? Are you simply looking for a convenient repository with basic milestone alerts; or are you looking to extract greater value from your contracts and align contract management with your overall business strategy? Understanding your immediate, medium term and long term priorities should influence the type of Contract Management solution that you should deploy.

Things to consider should be:

• Is the system going to be an Enterprise or departmental solution?
• Current level of maturity (in using Contract Management software solutions)
• Stand-alone system, or integrated with transactional data systems, like ERP and CRM systems?
• Who will use the system, and get the most value out of it?
• Do you need to adhere to corporate technology standards?
• On premise or Cloud-based solution?