Concord vs Lexion Comparison

83% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more

Concord

Contract Management Software

4.5 280 user ratings

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85% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more

Lexion

Contract Management Software

4.7 125 user ratings

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Overview

Description	Concord is an intuitive contract management software that enables businesses and professionals to collaborate, e-sign, manage, and store agreements. Up-to-date and automated contract templates provided by the same, help businesses create well-written contracts in real-time. At present, Concord is a huge hit among users because of the instant alerts it provides about deadlines, auto-renew, or any other clauses. Other collaborative features of Concord include real-time editing and redlining, private/public chat, and commenting along with automated versioning. Users even get unlimited storage to save business-relevant documents and agreements in a completely secure manner. Concord can be used to set conditional approvals, manage workflow libraries, and set auto-notifications and reminders in real-time. In addition, the software also allows users to make comparisons between thousands of documents, build custom reports, and export them to Excel. Moreover, professionals can even receive legally binding e-signatures from any number of signers and track all versions, edits, comments, and actions within created contracts. Read more	A data extraction tool called Lexion is intended to assist legal teams in centrally organising and storing contracts. Administrators can receive information about important occurrences and automatically track vital obligations. On a single interface, the platform enables managers to design disclosure timelines for mergers and acquisitions (M&A). Through single sign-on (SSO) functionality, stakeholders can login safely and save data backups. Teams can use Lexion to protect data in accordance with SOC 2 Type 2 compliance guidelines and AES 256-bit encryption. In order to organise agreements and other papers on a consolidated dashboard, managers can also use AI-enabled solutions. Legal experts can view contract information and monitor development in relation to key performance parameters (KPIs). Businesses can save documents on Google Drive, SharePoint, Box, Dropbox, and OneDrive using Lexion. Operators can send links to shared agreements, including master agreements, addenda, and more. To manage, analyse, and report on what is in their contracts and set up notifications for important events or milestones, in-house counsel, finance, procurement, sales, and business operation departments use this system. Brooks Running, Apptio, Outreach, Blue Nile, Trupanion, Matterport, Abstract, Hippo Insurance, and numerous other companies are among Lexion's clients. Read more
Pricing Options	Free Trial Available Starts at $29.0. Offers Free-forever and Custom plan.	Free Trial Not Available Offers Custom plan.
SW Score & Breakdown	83% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more Features The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more 77% Reviews 88% Momentum 65% Popularity 85%	85% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more Features The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more 88% Reviews 82% Momentum 64% Popularity 78%
SaaSworthy Awards	# 3 Most Worthy # 7 Highly Rated	Not Available

Features

Total Features	6 Features	11 Features
Common Features for All	Approval Workflow Allows to route the documents to one or multiple people for seeking their approval Completion Tracking Helps in setting certain completion criteria for any activity within a contract management process Contact Management Organizing customer data in a centralized location and handling contact details, demographics, transactions, etc. Contract Drafting Helps in drafting a reliable and secure contract for understanding properly the terms of the agreement Contract Templates Provides ready-made beautiful templates for writing different types of contracts Digital Signature A facility to capture digital signature in a secure format Document Management Ability to store and manage various information and documents in electronic format. Full Text Search Allows and helps in searching for a single or a collection of computer-stored documents in a full-text database. Lifecycle Management Helps in automating and managing all the critical phases of a contract, starting from its initiation until its compliance and renewal. Milestone Tracking They act as signposts through the course of your project, as they help to ensure that you're staying on track. Sell Side (Customers) Helps in managing the contracts related to the firms that sell investment services to asset management firms/organizations Specialty Contracts Helps managing specialty or formal contracts that mainly are written agreements, as a deed. Version Control It gives the team the ability to recall specific versions of a document, code, content, file, or folder that records changes over time. + 3 More - Show Less	Approval Workflow Allows to route the documents to one or multiple people for seeking their approval Completion Tracking Helps in setting certain completion criteria for any activity within a contract management process Contact Management Organizing customer data in a centralized location and handling contact details, demographics, transactions, etc. Contract Drafting Helps in drafting a reliable and secure contract for understanding properly the terms of the agreement Contract Templates Provides ready-made beautiful templates for writing different types of contracts Digital Signature A facility to capture digital signature in a secure format Document Management Ability to store and manage various information and documents in electronic format. Full Text Search Allows and helps in searching for a single or a collection of computer-stored documents in a full-text database. Lifecycle Management Helps in automating and managing all the critical phases of a contract, starting from its initiation until its compliance and renewal. Milestone Tracking They act as signposts through the course of your project, as they help to ensure that you're staying on track. Sell Side (Customers) Helps in managing the contracts related to the firms that sell investment services to asset management firms/organizations Specialty Contracts Helps managing specialty or formal contracts that mainly are written agreements, as a deed. Version Control It gives the team the ability to recall specific versions of a document, code, content, file, or folder that records changes over time. + 8 More - Show Less

Technical Details

Organization Types Supported	Freelancers Large Enterprises Medium Business Small Business	Freelancers Large Enterprises Medium Business Small Business
Platforms Supported	SaaS/Web/Cloud	SaaS/Web/Cloud
Modes of Support	Business Hours Online	Business Hours Online
API Support	Available	Available

Reviews & Ratings

User Rating	4.5/5 280 user ratings	4.7/5 125 user ratings
Rating Distribution	Excellent 58.6% Very Good 32.9% Average 5.7% Poor 0.7% Terrible 2.1%	Excellent 75.2% Very Good 24% Average 0.8% Poor 0% Terrible 0%
User Sentiments	Ease of Use, Contract Template Management, Contract Tracking and Organization, Electronic Signature Functionality Document Formatting Issues, Confusing User Interface, Limited Customization Options, Signature Request Email Deliverability Issues	Ease of Use, AI-Powered Features, Extensive Integrations, Excellent Customer Support Occasional Software Bugs, Limited Reporting Functionalities, Document Organisation Challenges, Inefficient AI in Specific Cases
Review Summary	Concord's user reviews highlight its strength in streamlining operations, enhancing collaboration, and providing real-time visibility. The platform is praised for its intuitive interface, customizable workflows, and ability to automate repetitive tasks, leading to increased efficiency and productivity. Some users emphasize the seamless integration with third-party applications and the robust reporting and analytics capabilities. While Concord receives positive feedback for its scalability and ease of use, there are occasional mentions of challenges during the initial setup and the need for more comprehensive training materials. Overall, Concord's user reviews reflect its effectiveness in improving operational efficiency and driving business growth.	Lexion is praised for its user-friendliness and ease of implementation, making it a popular choice for legal teams of various sizes. Users highlight the platform's seamless integration with email and other tools, making collaboration efficient. The AI-powered features, like contract analysis and data extraction, are generally well-received, although some users report occasional inaccuracies and limitations. Despite these minor drawbacks, the platform's ease of use, robust repository, and responsive customer service contribute to a positive overall experience.
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Pricing

Pricing Options	Free Trial Available Starts at $29.0. Offers Free-forever and Custom plan.	Free Trial Not Available Offers Custom plan.
Pricing Plans Monthly Plans Annual Plans	Free Free Essentials $29.00 $35.00 per user / month Pro $99.00 $119.00 per month Enterprise Custom	Lexion Custom
	View Detailed Pricing	View Detailed Pricing

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