Top Government contract management software:

Almost all business relationships begin with a simple contract between the business parties enclosing the details and terms of how the business proceedings will be done. The contract may be a formal letter describing each side's terms and conditions. The contracts spell out the possible revenue generation, the outcome, or the details. These contracts have been there since the beginning of business communications; the only difference between now and the is that today, the traditional paper contracts have been replaced by the software-as-a-service or SaaS platforms creating the contract management industry we know.

What is Government contract management software?

Government Contract management software is a set of computer programs, libraries, and data to contract management, contract lifecycle management, or particularly contractor management on projects. They may also be used in combination with project management softwares. Or in other words, the government contract management software houses all the firms' contracts in the form of a digital repository to get rid of the paperwork that came with a business. It is the automation of the process revolving around creating new contracts, storing, tracking existing documents, and overseeing the termination and the renewal of the contract.

With a wide variety of options available in the market, it is very important to scale each software system to its best advantage. Here are the top government contracting software systems for you:

1. Deltek:

Deltek provides IT and software solutions to elevate project management, collaboration, and intelligence. Deltek was founded in 1983. The costpoint contract management, along with the CRM, streamlines the opportunities and helps contract the data around the entire lifecycle. Some of the features provided include easy tracking of financial and non-financial contract activities, modifications, supplements during the pre or post-award processes.

This contract management system is integrated uniquely with GovWin IQ, which helps in the reduction of data entry, automates government contract management and administration, and provides the contract manager with a simplified and streamlined contract management solution.

Pros: 

• Effective PTO accruals tracking

• Efficient vendor history research research 

• Personalized Reports

Cons: 

• In-effective customer care

• Mobile application unavailable

• Cloud based product limited to some users.

2.Technomile:

Technomile is one of the best government contract management systems because it exclusively deals in providing solutions to all the government contracting problems. The growth platform acts as a collaborative solution helping in business development, analytical processes, strategy management, and providing competitive insights to the government contractors. The government risk and compliance platform make government contract management easier and much safer by digitizing contracts, clause management, and automating workflows. 

Contact intelligence and competitive insights are the cloud solutions that work by Federal state & local and municipal contact and hierarchy data filling and analytical research, respectively. You can even book a demo by visiting the official website of technomile.

Pros: 

• AI enabled competitive insights

• Easy-to-use

Cons: 

• Slow customer support

3. Salesforce:

Salesforce is a cloud-based software company with headquarters in San Francisco. It provides government contracting management systems and also other services, which has a prime focus on customer services, marketing automation, application management, and also analytics.

Salesforce aims to strengthen the long-term relationship between the government and the businesses.

Government CRM solutions from Salesforce are revolutionary both in the public and private sector. The government contracting management system from Salesforce is expanding by bringing together agencies, citizens, government employees, along with the connection between the citizens. Other features like business development with the help of AI are also available with Salesforce. 

Pros: 

• Cloud-based

• Easy management of reports

Cons: 

• Limited to stable internet connection

• Highly priced

4.PandaDoc:

PandaDoc is another popular government contracting management software, and it attracts customers with its widely available features like document analytics, payment, and content libraries. PandaDoc has another appreciated feature of e-document signature, which has eased the customer requirements of printing scanned documents and then putting their signature on them. The software company was founded in 2011 and is headquartered in California with many other offices in Minsk and Florida.

PandaDoc has been quite successful but has branded itself mostly as the e-signature and document company, so there has been a major shift of customers from PandaDoc to other government contract management software systems.

Pros:

• E-signature for documents

• Affordable 

• 14-day trial period

Cons:

• Limited integrations

5. Concord:

Concord is a government contract management software with more than 18 features, including e-signature, data export, API, and several others. With this software, you get unlimited storage at no additional cost. 

It is a well-designed contract management platform with top-notch lifecycle management tools. The concord software is supported in Windows, iPhone, iPad, Linux, and Mac OS and is also web-based. There are multiple pricing models that exist, and you can choose a monthly plan based on the one that deems fit for you. There are integrations like Google drive, dropbox, cilo, along with some other business accounting tools.

 

Pros: 

• Custom approval workflows

• Draft and temptalize agreements online

Cons:

• Difficulty in formatting documents after upload

• Difficulty in tracking version history. 

The Verdict:

Choosing the correct government contract management software is of utmost importance as almost 80 percent of the businesses use one of the above-mentioned softwares. Professional and business owners can leverage multiple benefits from adopting government contract management software including, centralising information, collaborative authoring and also compliance enforcement.