1. User-based pricing

Many contract management platforms base their pricing on the number of users who need access to the system. This model typically involves:

• A per-user monthly or annual fee
• Different rates for admin vs. standard users
• Volume discounts for larger user counts

User-based pricing works well for organizations with smaller teams, as it allows costs to scale with usage. However, as teams grow, expenses can increase significantly, potentially limiting widespread adoption.

2. Flat-rate pricing

Some vendors offer flat-rate models that charge a standard fee regardless of user count. This approach typically includes:

• A fixed monthly or annual subscription
• Unlimited or high user allowances
• Tiered plans based on features rather than users

This model provides predictability and can be cost-effective for larger teams, though smaller organizations may end up paying for capacity they don’t need.

3. Contract-volume pricing

Another model bases pricing on the number of contracts managed in the system:

• Charges per active contract in the repository
• May include volume tiers with discounted rates
• Often includes unlimited users

This approach can benefit organizations with large teams but relatively few contracts, allowing for widespread access without escalating costs.

4. Custom pricing

Enterprise solutions typically offer customized pricing based on:

• Specific organizational requirements
• Complexity of implementation
• Integration needs
• Volume of contracts and users
• Additional services required

Custom pricing can provide the most tailored solution but may involve more complex negotiations and less transparent costs.

1. Deployment model

The chosen deployment approach affects both immediate and long-term costs:

• Cloud-based (SaaS): Typically involves a subscription fee with lower upfront costs, including maintenance and support
• On-premises: Usually requires a larger initial investment in licensing and infrastructure, plus ongoing IT support costs

Most modern contract lifecycle management software solutions are cloud-based, offering greater flexibility and simplified maintenance.

2. Feature set and capabilities

The breadth and depth of functionality significantly influences pricing:

• Basic plans: Core features like contract storage, simple workflows, and e-signatures
• Mid-tier plans: Advanced workflows, analytics, template libraries, and basic integrations
• Premium plans: AI-powered features, advanced analytics, custom reporting, and extensive integrations

As you move up the feature ladder, costs generally increase, though so does potential ROI.

3. Implementation and onboarding

Setup costs can vary widely:

• Implementation services (data migration, configuration)
• Training and onboarding
• Custom integrations
• Template creation and workflow design

Some vendors include basic implementation in their subscription fees, while others charge separately for these services.

4. Additional costs

Look beyond the headline price for:

• Integration fees: Charges for connecting with CRM, ERP, or other business systems
• Storage limits: Costs for exceeding document storage allowances
• Support tiers: Premium support options beyond basic included service
• Add-on modules: Specialized capabilities like supplier management or procurement

These “hidden” costs can significantly impact the total cost of ownership.

Concord’s pricing structure

Concord offers a tiered pricing model designed to accommodate businesses from small teams to large enterprises:

• Essential Plan: Starting at $399/month, ideal for small companies or individual departments
• Professional Plan: Enhanced functionality for companies deploying across multiple teams
• Enterprise Plan: Comprehensive solution for larger organizations with complex requirements

A key differentiator in Concord’s approach is the availability of unlimited user plans, which can significantly reduce per-user costs for larger organizations.

Value-focused features across all plans

Even at the Essential tier, Concord delivers robust functionality including:

• Unlimited document uploads: Store all contracts without capacity concerns
• Unlimited e-signatures: No additional charges for signatures, unlike many competitors
• Comprehensive collaboration tools: Real-time editing, commenting, and redlining
• Full-text search capabilities: Quickly locate specific information within documents
• Activity tracking and audit trails: Maintain complete visibility into contract history

Higher tiers add advanced capabilities like approval workflow automation, customizable reporting, clause libraries, and subsidiary management.

Transparent cost structure

Concord has earned praise for its straightforward pricing approach:

• No hidden fees or surprise costs
• Clear upgrade/downgrade options
• Pay only for the users you need
• No charges for invitees to sign documents
• Free ongoing support from a dedicated Customer Success Manager

As one reviewer noted, Concord offers “the most approachable pricing options of any contract management solution”.

1. Direct cost savings

These tangible financial benefits include:

• Reduced administrative costs: According to PwC, enterprises can save 2% of their total annual costs through automated contract management.
• Decreased reliance on outside counsel: Goldman Sachs research indicates organizations can reduce headcount needed for contract management by 10-20%.
• Prevention of contract value leakage: By properly tracking renewals and terms, organizations can avoid significant revenue losses that typically amount to 9.2% of annual revenue.

2. Efficiency gains

Time savings translate to financial benefits:

• Accelerated contract cycles: Automated workflows can reduce contract creation and approval time by 50%.
• Reduced search time: Centralized repositories with advanced search capabilities eliminate hours spent looking for documents, with contract reviews becoming up to 400% faster.
• Streamlined collaboration: Real-time editing and approval workflows reduce unnecessary back-and-forth communications.

3. Risk mitigation

Improved compliance and reduced errors deliver financial benefits through:

• Enhanced contract compliance: Automated tracking of obligations reduces the risk of penalties and missed opportunities.
• Reduced errors: Template-based creation and AI-powered review minimize costly mistakes.
• Improved vendor management: Better visibility into supplier contracts enables more strategic relationships and better terms.

4. Calculating your specific ROI

To determine the potential ROI for your organization:

1. Establish a baseline: Document current costs associated with contract management, including:
   • Labor hours and associated costs
   • Outside counsel expenses
   • Error and compliance costs
   • Missed renewal opportunities
2. Project savings: Estimate reductions in these costs based on industry benchmarks and vendor case studies.
3. Calculate implementation costs: Include software subscription, implementation services, and training.
4. Determine ROI: Divide projected annual savings by total annual costs.

For many organizations, the ROI of legal contract management software can be substantial. One analysis suggests that for every dollar invested in contract management software, companies can expect to generate between $91 to $183 in recovered revenue.

1. Current and projected contract volume

• How many contracts do you currently manage?
• What is your anticipated growth in contract volume?
• Are contracts concentrated in specific departments or spread throughout the organization?

If you have high contract volumes but limited users, a contract-based pricing model might be most cost-effective. For widespread usage across many users, unlimited user plans like those offered by Concord may deliver better value.

2. User distribution and access needs

• How many users need regular access to the system?
• What level of access do different user groups require?
• Will usage expand to additional departments over time?

Organizations with many occasional users often benefit from unlimited user models, while those with few power users might find per-user pricing more economical.

3. Feature requirements

• What are your must-have vs. nice-to-have features?
• Which capabilities will deliver the most immediate ROI?
• Will your needs evolve as your contract management practices mature?

Focus on solutions that deliver strong value in your highest-priority areas rather than paying for advanced features you may not need.

4. Total cost of ownership

Look beyond subscription costs to consider:

• Implementation and onboarding expenses
• Training requirements
• Integration needs
• Potential customization costs
• Ongoing support needs

The lowest subscription price doesn’t always translate to the lowest total cost or best value.

1. Start with clear objectives

Define specific, measurable goals for your contract management initiative, such as:

• Reducing contract cycle time by X%
• Decreasing administrative costs by $Y
• Improving compliance by Z%

Clear objectives make it easier to measure success and demonstrate value.

2. Phase your implementation

Rather than attempting to implement all features simultaneously:

• Begin with high-impact, low-complexity use cases
• Prioritize functionality that addresses your biggest pain points
• Gradually expand to additional contract types and departments
• Demonstrate wins early to build momentum and support

This approach accelerates time-to-value while managing change effectively.

3. Invest in adoption

The best software delivers minimal value if people don’t use it:

• Provide comprehensive training for all user groups
• Develop clear documentation and guidelines
• Identify and support internal champions
• Celebrate early successes

High adoption rates increase your effective ROI by spreading the investment across more value-generating activities.

4. Measure and optimize

Establish metrics to track progress and identify opportunities for improvement:

• Contract cycle times
• Administrative hours saved
• Compliance improvements
• Cost savings achieved
• User adoption rates

Regular measurement helps demonstrate value to stakeholders and identify areas for further optimization.