7 Best Contract Review Tools to Speed Up Your Process

If contract management is not prioritized, it can be a serious drain on the bottom line. However, when it’s done right, organizations can save 2% of annual costs.

With better practices in place, businesses can speed up negotiations by 50% and reduce mistakes by as much as 90%.

Contract review tools simplify the process, helping teams identify risks, edit agreements, and stay organized. For businesses handling a lot of contracts, these tools are a practical way to save time, improve accuracy, and avoid costly mistakes.

In this guide, we’ll discuss the basics of contract review software and the best AI contract review solutions you can start with.

What is Contract Review Software?

Contract review software helps businesses analyze and manage contracts more efficiently. It scans documents to identify important details, flag risks, and suggest changes to improve clarity or compliance. This makes the entire process faster and reduces the chance of missing something critical.

Some tools are designed to spot risky clauses or ensure that contracts align with your company’s standards. Others focus on making collaboration easier by allowing teams to review and edit documents together in real time.

For businesses handling multiple contracts, this software is a practical way to save time, improve accuracy, and stay organized without adding extra work.

Types of Contract Review Tools

Contract review tools come in various forms, each designed to handle specific tasks or challenges. Here’s a breakdown of the main types to help you understand which one might work best for your needs:

AI-Powered Tools

AI contract review tools make reviewing contracts faster and less stressful. These tools use artificial intelligence to scan documents, flag risks, highlight important clauses, and even suggest edits to improve clarity or compliance.

They’re a huge time-saver, especially for teams dealing with loads of contracts that need quick attention. Some tools even go a step further with features like clause comparison and risk scoring that can help you figure out which contracts to focus on first.

Here’s what AI-powered tools can assist with:

• Identifying key clauses like termination dates, payment terms, and confidentiality requirements
• Flagging risky language or clauses that deviate from standard terms
• Checking compliance with internal policies or legal standards
• Summarizing contracts to make key points easier to understand
• Comparing clauses between similar contracts to spot inconsistencies
• Tracking changes across contract versions for a clear audit trail

Cloud-Based Platforms

Cloud-based contract review tools are great for teams that need flexibility and easy access to documents. These platforms store your contracts securely online, so you can review them from anywhere with an internet connection.

They’re packed with features like real-time collaboration, version tracking, and automatic updates, which keep everyone on the same page. For businesses with remote or distributed teams, these tools are a no-brainer—they replace clunky physical storage and outdated workflows.

With cloud-based platforms, everyone can work together smoothly, no matter where they are, which makes the contract review process faster and more efficient.

Document Management Tools

Document management tools are all about keeping your contracts organized and easy to access. With everything stored securely in one place, you don’t have to waste time digging through folders or hunting down the latest version of a document.

These tools often include features like advanced search, which lets you find specific terms or clauses in seconds. No more flipping through pages manually. Version control is another handy feature, which makes sure everyone’s always working with the most up-to-date contract.

They also help you stay on top of important deadlines by sending reminders for renewals or other key dates. If your business handles a lot of contracts, these tools can make managing them a whole lot simpler and more efficient.

Specialized Legal Tools

Specialized legal contract review tools are designed to cater to the unique needs of law firms and corporate legal departments. These tools offer advanced features that go beyond basic contract review. This makes them ideal for handling complex legal agreements and ensuring compliance with laws and standards.

Here’s what these tools typically include:

• Clause libraries to quickly insert commonly used clauses into contracts
• Compliance checks to ensure agreements meet local and industry-specific regulations
• Integration with legal research databases for easy reference to laws and precedents
• Pre-built templates to simplify drafting recurring contract types
• Automated workflows to streamline approval and review processes
• Detailed audit trails for tracking changes and maintaining transparency

Although designed for legal professionals, businesses with complex contract needs can also benefit from these tools. They provide the precision and depth required to handle detailed contract reviews without missing key details.

Best Tools to Optimize Your Contract Review Process

The right contract review tool can save you a ton of time and headaches. Whether you need AI-powered assistance, expert oversight, or a mix of both, there are tools out there to match your needs.

Let’s take a look at some of the best options to make your contract review process faster and more reliable.

1. Percipient

Managing high contract volume doesn’t have to be a headache. Percipient combines AI-powered contract review software with expert human oversight to streamline your workflow, reduce risk, and speed up your contract lifecycle.

Unlike self-service tools, Percipient offers a service-oriented approach with tailored onboarding and personalized support, ensuring your team’s unique needs are met.

Best Features

• AI-augmented contract review: Processes contracts with advanced AI to identify clauses, flag risks, and suggest edits based on your organization’s preferences.
• Human review for accuracy: Legal professionals validate AI-generated results, ensuring nuanced issues are handled effectively.
• Tailored onboarding: Customizes the AI model to align with your organization’s contract standards and specific requirements.
• Collaborative feedback loop: Provides reviewed contracts with detailed redlines and explanations for quick team adjustments.
• Metadata capture: Extracts contract metadata that can integrate with your contract management software.

Pros

• Combines AI efficiency with human expertise
• Personalized onboarding tailored to your needs
• Provides detailed redlines and explanations
• Reduces time spent on manual contract reviews
• Ensures compliance with your organization’s legal playbook
• Captures metadata for seamless integration with contract management systems
• Offers expert legal oversight for handling complex clauses
• Streamlines the review process while minimizing risks

Book a call today and see how it works!

2. Juro

Juro is an all-in-one contract management tool designed to simplify the entire contract lifecycle, from creation to approval.

It’s suitable for businesses looking for a user-friendly platform that combines automation with collaboration, which can help make contract management smoother and less time-consuming.

Source: G2

Best Features

• Contract creation templates: Quickly draft contracts with customizable templates that fit your needs.
• Automated workflows: Streamline approvals and other processes with automated steps.
• Real-time collaboration: Teams can review, comment, and edit contracts directly on the platform.
• CRM integrations: Connect Juro with tools like Salesforce for seamless contract management.
• Analytics dashboard: Track contract progress, identify bottlenecks, and gain insights into your workflow.

Pros

• Intuitive interface that’s easy to navigate
• Automates repetitive tasks like approvals
• Great for teams needing real-time collaboration

3. ContractSafe

ContractSafe is a user-friendly contract management tool designed to help businesses securely store, organize, and track contracts. It focuses on making contracts easy to find and manage without overloading users with unnecessary complexity.

Source: G2

Best Features

• Secure cloud-based storage: Keep all your contracts in one safe and accessible location.
• Powerful search functionality: Quickly locate specific terms or clauses without digging through documents.
• Renewal alerts: Never miss important deadlines with automatic reminders for renewals and expirations.
• User-friendly interface: Easy to navigate, even for teams without technical expertise.
• Role-based permissions: Control who can view, edit, or manage contracts to maintain security.

Pros

• Excellent search and retrieval capabilities
• Alerts help keep teams on top of deadlines
• Simple setup and navigation

4. ThoughtRiver

ThoughtRiver is a contract review platform designed to speed up the pre-screening process for contracts. It uses AI to identify risks and potential issues early, helping teams focus their attention where it’s needed most.

Source: G2

Best Features

• AI-driven pre-screening: Flags risky clauses and highlights key issues before a full review.
• Customizable playbooks: Ensures contracts align with your organization’s preferred standards and terms.
• Visual risk reports: Provides clear, easy-to-understand summaries of potential risks.
• Integration capabilities: Works with contract management systems for seamless workflows.
• Ongoing AI learning: Adapts to your preferences over time for more accurate suggestions.

Pros

• Identifies risks early, saving time on reviews
• Maintains consistency with customizable playbooks
• Easy-to-understand risk reports for quick decision-making

5. LegalOn

LegalOn is a robust contract review tool tailored for legal teams managing complex agreements. It combines AI-driven analysis with features designed to improve clarity and compliance.

With LegalOn, businesses can organize their contract review process while making sure legal standards are met.

Source: LegalOnTech.com

Best Features

• AI-powered clause analysis: Highlights potential risks and suggests edits for improved compliance.
• Clarity improvement suggestions: Helps simplify contract language for better understanding.
• Collaboration tools: Enables teams to review and edit contracts together in real time.
• Compliance checks: Ensures contracts meet regional legal requirements and company standards.
• Customizable review workflows: Tailors processes to fit your team’s specific needs.

Pros

• Ideal for complex and high-stakes contracts
• Strong focus on compliance with legal standards
• Simplifies complex legal language for better readability

6. Luminance

Luminance is an advanced AI-powered contract analysis software designed for legal teams and businesses dealing with large volumes of documents. Known for its speed and accuracy, Luminance leverages machine learning to analyze contracts, highlight risks and provide actionable insights.

Source: Luminance.com

Best Features

• AI-driven contract analysis: Quickly identifies risks, key clauses, and anomalies across legal documents.
• Interactive dashboard: Offers a clear overview of contract data and review progress.
• Machine learning adaptability: Learns from user feedback to improve over time.
• Bulk review capabilities: Handles large numbers of contracts simultaneously, saving time.
• Clause comparison: Highlights differences between similar clauses for consistency checks.

Pros

• Excellent for handling large document volumes
• Intuitive insights and risk identification
• Adapts to user preferences for more accurate results

7. Summize

Summize is a user-friendly contract review and management platform designed to simplify the contract lifecycle. It combines AI contract review software with an intuitive interface, which makes it a good option for teams seeking a straightforward yet powerful solution.

Source: G2

Best Features

• AI-powered contract summaries: Automatically generates concise summaries, highlighting key clauses and terms.
• Searchable knowledge base: Organizes contract data into an easily searchable format.
• Collaboration tools: Allows teams to review and edit contracts together efficiently.
• Integrations with business tools: Works seamlessly with platforms like Microsoft Teams and Slack for improved accessibility.
• Automated insights: Flags risks and compliance issues to reduce manual effort.

Pros

• Easy to use with minimal learning curve
• Great integrations with everyday business tools
• Saves time with automated summaries and insights

Percipient Makes Reviewing Contracts Fast & Easy

Every legal team knows how contract reviews can be a real time sink. But with the right tools, you can turn that messy, stressful process into something quick, efficient, and even hassle-free.

From AI-powered insights to collaborative platforms, contract review tools aren’t just convenient—they’re excellent investments for businesses managing multiple agreements.

If you’re looking for more than just software, Percipient is worth your attention. They go beyond the usual AI-driven approach by adding expert human oversight, tailored onboarding, and clear feedback loops.

Why wait? Book a call with Percipient today and discover how effortless contract management can be.

FAQs About Contract Review Tools

Is there an AI to review contracts?

Yes, there are several AI-powered solutions designed to review contracts efficiently. Tools like Percipient and LegalOn use advanced algorithms to flag risks, identify key clauses, and suggest edits, making the process faster and more accurate for law firms and in-house legal teams.

How do you carry out a contract review?

A contract review typically involves reading the agreement carefully, identifying key terms, ensuring compliance with company policies, and flagging risks. Contract review solutions can automate much of this process by scanning for potential issues and providing insights, which saves time and reduces errors.

What is a contract review checklist?

A contract review checklist outlines the key elements to examine during a review, such as payment terms, renewal dates, confidentiality clauses, and termination conditions. It makes sure that nothing important is overlooked and can be even more effective when paired with a contract review tool.