Contract management tools refers to platforms and solutions for creating and managing digital agreements or contracts. These tools offer 1) general contract lifecycle management, including initial requests for authoring contracts and tracking the progress of contract renewals, and 2) specialized contract management platforms that focus on contractual agreements of specific teams, such as sales and procurement teams. In addition, a few firms focus on niche areas such as eSignatures and AI- and ML-based contract intelligence.

The use cases for such tools and platforms are any firms that regularly work with contracts, especially sales and procurements teams. Compared to traditional contract management tools, these solutions claim to deliver contracts with improved efficiency, scalability, and visibility, resulting in lower costs and improved return on investment.

Note: Additional sections (market sizing, detailed overview, incumbents, etc.) can be provided on request.