Comparison
Renewal tracking software vs. CLM software
CLM manages how contracts get created. RenewalTracker makes sure signed contracts don't get missed.
The short answer
RenewalTracker tracks contracts; it doesn't create them. Contract lifecycle management (CLM) suites manage how contracts get created, including drafting, redlining, approvals and e-signature, and they generally cost much more. RenewalTracker starts once a contract is signed: it keeps the contract with its key terms and details in custom fields, tracks the expiration date, and automatically emails the people involved in advance, so your team never misses a renewal or payment.
| CLM software | RenewalTracker | |
|---|---|---|
| Purpose | Managing how contracts get created: drafting, redlining, approvals and e-signature | Starts once a contract is signed: tracks the expiration date and automatically emails the people involved in advance |
| Key terms and documents | Held with the contract in the CLM | Key terms and details in custom fields, with the contract attached to its item |
| What it tracks | Mostly contracts | Licenses, permits, certifications, contracts, subscriptions, policies, payments and virtually any other business item with a renewal or expiration date |
| Time to go live | Weeks to months, often with consultants | under 60 minutes |
| Who uses it | Legal and procurement | Anyone who owns a deadline: compliance, IT, finance, operations |
| Training | Formal training typical | None required |
| Price | Generally cost much more | From $49/month with unlimited items |
Purpose-built for one critical job
RenewalTracker does renewal tracking exceptionally well, and it tracks licenses, permits and certifications in the same dashboard as your signed contracts.
Is a CLM more than you need?
It can be, if what you mainly need is to track signed contracts and their renewal dates. Some of our customers came to RenewalTracker after finding a CLM too expensive or too difficult to use.
If you rely on a CLM to draft, negotiate and sign contracts, RenewalTracker won't replace that. A team can use its CLM to create and sign contracts, then use RenewalTracker to track renewal dates and send reminders.
Questions
Do I need CLM software to track contract renewals?
Not if your main need is to track signed contracts and their renewal dates. CLM suites manage how contracts get created, including drafting, redlining, approvals and e-signature, and they generally cost much more. If you do not need those, RenewalTracker starts once a contract is signed.
Can RenewalTracker work alongside a CLM system?
Yes. A team can use its CLM to create and sign contracts, then use RenewalTracker to track renewal dates and send reminders.
Is RenewalTracker an alternative if our CLM is too expensive or hard to use?
It can be, if what you mainly need is to track signed contracts and their renewal dates. Some of our customers came to RenewalTracker after finding a CLM too expensive or too difficult to use. If you rely on a CLM to draft, negotiate and sign contracts, RenewalTracker won't replace that.
Does RenewalTracker store contract documents?
Yes. You can attach the contract, license or certificate to each item and keep its key terms and details in custom fields, and every item keeps its status history.
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Templates and checklists
Excel trackers for renewals, contracts and certifications, plus printable checklists.
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How ready are your renewals?
Ten quick questions, a score out of 100 and where to start closing the gaps.
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What does manual tracking cost you?
Estimate the time and risk of tracking renewals in spreadsheets and calendars.
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Get renewal visibility this week, not next quarter
Live in under 60 minutes. Plans from $49/month.