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I need to know price points for enterprise contract analysis tools in the market.
Hello! Thank you for using Wonder to learn more about the price points for enterprise contract analysis tools. In short, the rock-bottom pricing for Contract Analysis companies is Logikcull at $480 per year and the higher end companies, like Legal Robot, charge $180,000 annually.
METHODOLOGY
In response to your request, we have researched the Top Ten Contract Analysis companies. This includes the full extended list with reviews and website links. We first visited the websites of the listed companies in order to identify their price points. It quickly became apparent that these companies -- especially high level companies -- keep these figures extremely guarded. In order to obtain the appropriate information to fully answer this question, it was necessary to reach out individually through the "Contact" tab, which requested potential client information. Once this "Contact" form was submitted, a company representative followed-up. However, we have not yet received a response from Brevia, Kira and Seal.
Of the companies that do list pricing structures on their website, they provide only rock-bottom pricing structures an in all but the case of Logikcull, this information was not easy to find and require some navigation.
We also searched for the implementation time for these companies, however, no public data was available because this varies on a case-by-case basis. Each company would be able to provide you with a price and time quote if contacted through their website. Below we dive deeper into the costs associated with each company, customer service experiences and reviews.
COSTS
The first costs listed were found via each companies websites and include the annual costs. In most instances the packages are also billed on an annual basis, but any exceptions are listed below.
Pricing for the higher-companies required conversations with representatives, usually high-level staff, if not owners. Their prices are as follows:
Legal Robot: $3,588, billed annually, online only, and a wait-list $180,000 billed annually, with office access, full service.
CUSTOMER SERVICE AND REVIEWS
Next, we were able to provide a first-hand account of customer service from the companies that did not offer pricing on their websites. Those that we heard back from answered their phones promptly and were very cordial. They answered my questions and provided the pricing we were looking for. Of the companies that did not list their pricing and we have not heard back from, it would be our opinion that their customer service was sub-par in comparison to the others that we did hear from.
We, then, researched current reviews listed on line for Contract Analysis companies. Of the 59 companies that had at least two reviews, 56 of them had at least a four star rating. The companies with the most reviews even have four and a half or five star ratings. Below are breakdowns of reviews for specific companies we have discussed.
ContracWorks: 25 reviews, five stars
Concord: 79 reviews, four and a half stars
PandaDoc: 243 reviews, four and a half stars (we have personally used this service and their rating is well-earned)
From these findings, we have concluded that clients who use Contract Analysis services are very happy with the services rendered, regardless of the specific company used or the price structure.
IMPLEMENTATION TIME
There was no public data about the amount of time it takes for these companies to implement their technology on projects. I search through their use cases, however, a corporate e-mail is required to view the data. It is possible that implementation time is mentioned in the reports. I also check their FAQs and products sections, but none of them contained estimate time of implementation. These websites want potential customers to contact them for a quote; they would be able to provide an estimated timeframe for the projects you have in mind, as implementation time will depend on the complexity and breadth of projects.
CONCLUSION
To recap, pricing ranges substantially depending on the company in questions. On the low end of pricing for Contract Analysis companies this service can cost as low as $480 per year (Logikcull) and can cost as much as $180,000 annually (Legal Robot). Furthermore, the customer service provided by each of these companies have met client expectations regardless of the company and pricing.