The Business Case for Contract Management Systems

    By Sean Heck on 03/14/23

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    Manually managing contracts can be discouraging and stressful. It can also increase risk, decrease revenue, and drastically stifle efficiency. Thankfully, it doesn’t have to be this way. According to market research performed by CLOC, 74 percent of legal departments already leverage contract management software to streamline legal ops and more!

    In this blog post, we will cover how contract management systems can solve a myriad of contract process problems. We will also help you easily make a business case for contract management software to decision-makers.

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    The 8 Stages of the Contract Lifecycle

    By Jamie Reedy on 03/8/23

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    Contracts are legally binding - and thus need to be executed properly.  Legal teams should equip themselves with a thorough understanding of the contract lifecycle.  The contract lifecycle is the process under which a contract is authored, reviewed, sent for signature, executed, and - potentially - renewed. 

    The "lifecycle" is an archetype used to compartmentalize and understand a contract's complex evolution.  The lifecycle begins with contract requests and concludes when these requests are fulfilled - with the possibility of managing contract renewal.  Let's further explore the eight stages of the contract lifecycle below and how contract management software can help streamline your contracting processes. 

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    3 Bad Procurement Examples That Can Negatively Affect Your Team

    By Sean Heck on 03/7/23

    reading-minutes-icon-one-color 3 min read

    The procurement process is a many-feathered bird that leaves a lot of opportunity for success. However – just as your organization can succeed on many fronts – so too can your team face common procurement challenges. Such challenges can result in costly pay-per-solicitation, limited outreach, redundant data entry, and association with vendors that can harm your organization with procurement fraud, scandals, product failure, and failure to deliver what was promised.

    Thankfully, you can avoid these procurement pitfalls. Beware of these three procurement situations that can lead your organization down a bumpy road.

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    CobbleStone Software Blog Recap for February 2023

    By Joshua Hansen on 03/2/23

    reading-minutes-icon-one-color 4 min read

    Did you miss any of our blog posts from February?  Don't worry; we have outlined each of them for you.  Stay up-to-date with industry topics, real-world case studies, and contract management software and procurement best practices in March by reading the latest CobbleStone® content.

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