I have used Ncontracts for the past 4 years. It has been a huge time saver and the examiners have been happy with our program ever since. We just don't have the time to gather all that information each year so now we can focus on reviewing gathered documents and Ncontracts executive summaries by vendor and performing our risk assessment on each Critical and high risk vendor. I think you can just pay for the software and not use Ncontracts to gather annual due diligence documents and perform contract reviews and summaries if you wish. The full service package is little pricey but well worth it in my opinion.
We have moved our contract management into Conetrix (A Tandem) product. It is a web-based vendor management system. It is reasonably inexpensive and provides the features we've needed -- track vendors and contracts; assign an internal staff to the contract; track review dates etc.
If you use Conetrix for your business continuity plan, it ties nicely together.
Kurt T. Schmidt