Contract Insights: The Leading Resource for Contract Management & Procurement Professionals

The Business Case for Contract Management Systems

By Sean Heck on 03/14/23

4 min read

CobbleStone Software explains building a case for contract management systems.

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.

Topics: Business Process Automation Making a Case for Contract Management Software

The 8 Stages of the Contract Lifecycle

By Jamie Reedy on 03/8/23

4 min read

CobbleStone Software presents the stages of the contract lifecycle - including 8 for contract management.

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.

Topics: CLMS Return on Investment compliance contract authoring Contract Compliance Contract Compliance Software contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software Contract Lifecycle Stages Contract Management Process contract negotiation Contract Stages contract writing contract writing solution e-sign E-signatures eSignature Contract Management Software Maximize ROI with CLM signatures CLM CLM ROI CLMS Electronic Signature electronic signatures eSignatures contract approval process contract renewals CLM Software electronic signature software IntelliSign contract requests legal requests Stages of the Contract Lifecycle The Stages of the Contract Lifecycle

3 Bad Procurement Examples That Can Negatively Affect Your Team

By Sean Heck on 03/7/23

3 min read

CobbleStone Software details three examples of bad procurement and how to avoid them.

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.

Topics: eProcurement Planning procurement management procurement process Procurement Software eProcurement Software

CobbleStone Software Blog Recap for February 2023

By Joshua Hansen on 03/2/23

4 min read

CobbleStone Software presents its blog recap for February 2023.

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.

Topics: contract administration system Contract Lifecycle Management Contract Management Blog Recap Contract Management Software CobbleStone Contract Insight®