Most leading contract management software is easy to set up, configure, and use, but completing training courses can take your expertise to the next level. Contract management software training can help you and your team become system experts, guiding you through each step in the process. Training instructors inform users of the system’s usability at a much deeper level, ensuring you get the most out of your contract management software. You may be familiar with contract clauses and templates, but leading contract management software has capabilities that some might consider to be endless opportunities. Ensure you and your team are getting the most out of your software by signing up for expert-led software training.
Leading financial research estimates that companies spend almost 5% of their revenue tracking agreements after signing a contract.
Organizations, both large and small, find that manually managing contracts and related documents can be time-consuming, disorganized, frustrating, costly, and the list goes on. There are many disadvantages to the manual records management approach, but the biggest issue with manual maintenance is organization. When contract records are managed manually with spreadsheets and local file locations, the process can become extensive because of bottlenecks, miscommunication, missed deadlines, and more. What can be done to eliminate these challenges?
The contract approval process is a challenge for many contract management and contract administration professionals due to bottlenecks and human error that can lead to longer contract cycle times. Delayed contract approvals may fail to meet business rules, business processes, and compliance standards, leading to missed opportunity of time-sensitive pricing options and special terms. The challenges and problems are apparent, but what is the root cause of the issues with contract approvals?
The Challenge: Missed Renewals and an Inefficient Process
CobbleStone’s award-winning contract management software, Contract Insight™, is a fully configurable system, able to meet any industry’s needs with a few configurations. Both large and small educational institutions, from community colleges to leading universities, use Contract Insight as their preferred education contract management software. Learn from this real-world example how one of Washington’s largest higher education institutions chose Contract Insight as their contract management system and utilized the user-friendly software’s configurability to set up the system to meet their needs.