Conga Novatus Contract Review - why 4.6 stars?

Shlomi Lavi / updated: Sep 29, 2022

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What is Conga Novatus Contract?

Novatus Contract Management provides software by the same name which manages the contract lifecycle of a business. This contract lifecycle management (CLM) software provides a comprehensive solution which helps businesses generate, track, maintain, and report on important business contracts across the enterprise.

The Orlando, Florida based company was founded in 1998 and is a pioneer in developing top tier contract management solutions.

It focuses on innovative software that impacts clients positively by ensuring contract management meets compliance requirements, reduces risk, while ensuring a positive market advantage.

Who is it best for?

Contracts are essential to any business as they have a direct impact on profitability. Novatus software provides a secure way to take contracts through the entire lifecycle in a structured process. It benefits Contract Managers, Legal Advisors, as well as Procurement and Sales managers as well.

It is best used by companies that seek a solution that automates the entire CLM process from creation to negotiation, then approval and finally renewal. Novatus software can also interface with your internal data easily with inbuilt integrations with other major enterprise software, making it far easier to deploy and implement within your organization.

Contract Management is an especially effective tool for legal and contract teams by providing features that increase control over past, current and future contracts, contract reminders, structured approval processes, and a customizable dashboard to monitor performance and progress.

It is a cross industry product that can be used by companies of any size. Contract Management is currently implemented at over 120 clients worldwide and these include Sony, WD-40 and HD Supply.

Main features and functionalities

Contact Management covers the full contract lifecycle which includes the ability to request, create, negotiate, execute and manage contracts. Key features include contract template building which reduces time to generation, as well as a centralized repository of contract data for BI reporting, Document management and Dashboard representation.

Contract notifications can be setup for proactive alerts to the contract teams to take relevant actions, with workflows designed to ensure a proper approval process for contracts is in place. For companies that want anytime access to their contract information and status, Novatus offers support for mobile devices with mobile alerts as well.

There is a secure negotiation portal for online contract negotiation which reduces time to contract assignment and agreement dramatically. Electronic signatures are standard to allow faster contract signature online.

Finally Novatus provides supplier registration as well to ensure all suppliers meet standard requirements, and only qualified ones are invited to bid on potential contracts thus saving substantial time in review and negotiation.

What is the actual cost?

The cost of license starts at $55 per user/month. ITQlick pricing score is 4.4 out of 10 (10 is most expensive). Access ITQlick pricing guide for Conga Novatus Contract. You can also find here pricing information from Conga Novatus Contract's website.

Pros

• The entire Contract Lifecycle Management (CLM) process is fully-automated
• Novatus Contract Management is cloud based and offers 100% security for all contract data and 99.98% uptime for dependable accessibility for customers
• It offers stream lined implementation to get your implementation running in days not months
• The software offers integration with many systems including SalesForce (CRM), Seal Software (e-discovery), Coupa (e-sourcing) and DocuSign (e-signatures).
• All updates and enhancements are included with Novatus software at no additional costs
• The product has 24/7 user support for all its clients

Cons

• Data Migration tools are provided as part of the implementation but there is no guarantee from Novatus on information quality
• Implementation time frames for the product do not take into account the time for pre implementation contract analysis and data migration
• Companies are resistant to placing sensitive contract data on the cloud
• Reporting tools provided by Novatus do not provide advanced BI analytics
• The software does not have in built functionality to support regulatory requirements

How it stacks up?

Access a head to head analysis of Conga Novatus Contract vs alternative software solutions.

Frequently Asked Questions (FAQs)