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Negotiating and managing contracts is crucial for businesses of all sizes. Contract management software, also known as contract lifecycle management, streamlines the process, reduces errors, and lowers financial risks. This video evaluates the best contract management solutions based on features like customization, automation, pricing, security, compliance, and integrations. Bonsai is recommended for small businesses and solopreneurs as it provides an intuitive tool for creating legally binding contracts, allowing them to focus on business growth rather than paperwork.