Contract Insights

This blog post was updated on May 13th, 2021. Its original publication date was February 4th, 2019.

Contract tracking can be a significant challenge for legal teams, procurement managers, contract managers, and other industry professionals.  Manual contract management processes may suffice for organizations with low contract volume and contract complexity, but when the number of contracts increases to hundreds, thousands, and beyond, contract failure rates increase exponentially.  Read on to find out how to master contract tracking with leading contract management software.

Reviewing contract risk can be time-consuming, challenging, and stressful.  Manually assessing risk factors can cost an organization extra time and money while increasing the risk of inadvertent human oversights.  While you can do your best to carefully track risk factors, including negligent clause language, it can prove challenging when dealing with multiple stakeholders and pressing deadlines.  Read on to learn how three contract risk management tools proffered by contract management software can help protect your organization from the risks of poor contract management and, in some cases, your job.

Contracts are legally binding - and thus need to be executed properly.  As such, organizations should be equipped 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 said requests are fulfilled - with the possibility of contract renewal.  Learn about the eight stages of the contract lifecycle below.

CobbleStone Contract Insight® users can leverage the CobbleStone Contract Insight wiki/user manual to promote the best possible utilization of their system.  Whether you are a CobbleStone user or a potential user, you can read this article - written by CobbleStone Software Documentation & Training Specialist Adam Widmeier - to learn how to maximize the many contract management software features available with CobbleStone Contract Insight.