Effective contract management is critical in today’s corporate environment, providing the foundation for beneficial business relationships and regulatory compliance. And the right contract management platform empowers legal professionals to carry this out, while saving organizations time and money. Therefore, finding the best solution for your company’s unique needs should be a considered a business imperative.
With that in mind, let’s compare two of the most popular contract management software solutions: ContractPodAi vs. Ironclad.
Feature Set
ContractPodAi’s AI-driven analytics and automation capabilities help set it apart in the contract management software space and make it a powerful Ironclad alternative. End-to-end contract management capabilities add efficiencies at every stage, streamlining operations and eliminating risk.
Ironclad does not offer the same range of AI and automation capabilities as ContractPodAi, and lacks the end-to-end capabilities, including legal intake functionality and custom app development.
Ease of Use
ContractPodAi is designed for business-wide adoption, with a quick learning curve that allows users to pick up the software quickly—and with a high level of confidence. Continuous and easily accessible support makes onboarding and training simple, while a virtual legal assistant, intuitive search functionality, centralized database, and automated contract review make it intuitive for all business users.
Ironclad, on the other hand, has no virtual legal assistant or automated contract review, and has only limited search capabilities. Some users have found that it does not easily support complex contracts or agreements that do not follow a standard workflow. Customer service is also limited: it is only available during standard US business hours and to English speakers.
What reviewers have to say about ContractPodAi:
“Overall the software has been easy to use. We love having the ability to easily search for contracts and have them all in a central location. We also like the functionality of being able to track important dates like auto-renewals, expirations, etc. The dashboard is also a great tool to see what contract needs to [be] followed up on.”
— Capterra
“ContractPodAi is the best cloud-based platform for contract management. It is entirely customizable to the desired needs of each business. It makes creating, saving, and distributing contracts and other legal documents easy.”
— G2
Scalability and Integration
ContractPodAi integrates easily with third-party applications, including popular platforms, like Salesforce, DocuSign, and Adobe Sign. It is scalable to organizations of all sizes, enabling teams to add modules and feature sets across the contract lifecycle as their usage increases.
Ironclad also provides integrations with Salesforce and other solutions and is relatively scalable for growing businesses.
What reviewers have to say about ContractPodAi:
“The use of DocuSign, which is embedded into the system, not only saves money, but also has sped up our contracting process significantly. OCR and scanning of PDF documents to make them readable is great—allows for detailed searches, which helps with our conflict checking process.”
— Capterra
Industry Compliance and Security
ContractPodAi is dedicated to keeping customer data secure and compliant by strictly adhering to industry standards and certifications. To that end, we limit our collection of personal data to only that required for legitimate purposes and take appropriate security measures to protect personal data. ContractPodAi has monthly uptimes of 99 percent, best-in-class data security tools, and encrypted backups and passwords. Our full security controls meet criteria approved by the European Commission.
Ironclad also offers data encryption and contract security features. It is GDPR- and HIPAA-compliant, and a member of the Cloud Security Alliance (CSA).
Pricing and ROI
According to the World Commerce and Contracting (World CC), companies lose 10 percent of their bottom line through poor contract management. More conservative research from Ernst & Young found that the average company loses between one and five percent of earnings before interest, taxes, and amortization (EBITA) from its bottom line because of ineffective contract management.
Either way, it is clear that contract management software can positively impact business results—and that choosing the right contract management software is key to maximizing return on investment (ROI). ContractPodAi’s AI-powered legal assistant, Leah, adds to the efficiencies the solution offers by speeding up negotiations and data analysis, enabling legal professionals to do more with less and adding to companies’ ROI. Additionally, dashboards and reporting capabilities mean that teams can continuously improve on their contracting performance.
Although Ironclad reports an ROI of 314 percent, the software comes with limited live support and can be difficult to learn. This reduces time to value and affects overall return on investment.
Conclusion
Ultimately, contract management platforms help empower legal teams to build a more efficient contract lifecycle. And it’s clear that ContractPodAi’s AI-powered solution is a strong Ironclad alternative, offering ease of use and a scalable design that allows organizations to derive value quickly and expand their usage as their needs grow.
Find out for yourself how ContractPodAi stands out among the competition. Contact our sales team for a personalized consultation or book a demo with us today.
