The use of artificial intelligence is all the buzz right now. From Microsoft Bing’s use of OpenAI’s ChatGPT to Google’s Bard AI Chat Bot - the topic of responsible use of artificial intelligence continues to trend. To add to that, generative artificial intelligence (a useful AI technology feature that generates human-like content) is being reviewed extensively - not only from a usability perspective, but from a legal work standpoint.
Electronic Signature Apps: What To Look for When Choosing a Solution
In the bustling business world, the arrival of electronic signatures has signaled a new era in conducting contracts and business relationships. Like a colossal, advanced ocean liner amid simple wooden galleons, the transition from traditional, paper-based processes to digitally powered signing and approvals has not just been about keeping up with the times; it’s been about setting an accelerated pace.
Electronic signature technology has transformed businesses across various sectors - establishing that pen and paper are no longer the zeitgeist of managing contracts and agreements. E-signatures can cut send-to-sign time by up to twenty percent!
It's crucial, therefore, to understand the landscape when selecting the right electronic signature platform. Consider this your nautical chart as we explore the features to look for when embarking on your digital voyage with electronic signature apps.
Topics: Contract Lifecycle Management e-sign E-signatures eSignature Contract Management Software signatures eSignatures IntelliSign digital signatures digital signature software contract signing eSignature Software
Your Contract Database of the Future With Contract Management Software
The contract management process has evolved drastically over the years. Managing contracts with obsolete methods is sure to make your organization fall behind. Luckily, you can automate contract lifecycle management with a contract database within contract management software. Let’s explore how a contract management database can take your contract management or legal team into the future.
Topics: agreement database Contract Data Discovery and Extraction Contract Data Extraction contract database data data storage Data Security data-driven contract management contract data retention
Contract Summary Software: 5 Tips To Help Your Legal Team
Welcome – all of you wonderful contract dorks - to the thrilling new world of contract summary software! Most people would not put “thrilling” and “contract summary” next to one another, but that is simply because they are not legal experts who know just how fun contracts can be!
We're about to explore the groundbreaking utility that will restructure the way you manage contracts in your organization. After all, who doesn't love saving time, reducing contract risk, and improving the efficiency of contract processes? Let’s provide you with some benefits of contract summary software and five tips to help your legal team succeed.
Digital Contract Management: A Fun Flight Into the Future of Legal Ops
In the grand galaxy of business operations, contracts serve as the gravity that supports the harmonious orbit of organizations, business partners, vendors, employees, and clients – spinning together in a vast cosmos of opportunity. However, managing contracts’ essential components in the pre-digital age of contract history was often a Herculean task - filled with countless man-hours, mountains of paperwork, and the potential for harmful human error.
Enter the era of digital contract management – a revolutionary epoch that has transformed the previously-laborious contracting process into a streamlined, efficient, and even fun experience. Let’s take flight into the future of legal ops: digital contract management.
Navigating the Jungle of Contract Auditing with CLM Software
Hello, and welcome to the "Jungle of Business Contracts" - where we tame the wild beasts of contract portfolios, deals, counterparties, and internal processes with the shepherd’s crook of legal technology. Today, we are going to embark on an expedition into the dense thicket of contract auditing. By the time we're finished, you'll be navigating this jungle like a panther - agile and confident.
Supply Chain & eSourcing: Pricing vs. Technical Functional Proposal Responses
ATTENTION procurement, supply chain, and purchase managers:
Your supply chain and sourcing processes play a critical role in ensuring your procurement teams have the proper goods and services necessary to operate and expand your business while fulfilling your client, operational, and contract commitments.
The 3 Contract Management KPIs for Success
Contract managers are under increased pressure to deliver value with reduced contract risks, decreased contract costs, and improved contract performance. When you regularly measure the success of contracts against contract management KPIs, you can proactively readjust your contract strategy to ensure goal alignment drives critical and positive organizational impact. Read on to learn how contract management software can help maximize three important contract management KPIs for success.
Topics: contract tracking ROI for Contract Management Software CLM electronic signatures eSignatures Contract Artificial Intelligence Contract Management KPI contract management roi asset tracking Web-Based Contract Management Software contract automation Contract KPI
5 Reasons NLP Contract Management Is a Business Game-Changer
Brave and tame the endless jungle of contract jargon and legalese with NLP-driven contract management! Enjoy a fun and easy way to unleash your business potential for contracts and other legal documents.
Topics: Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management NLP Natural Language Processing
Cloud Contract Management: A 5-Point Plan of Attack
Cloud-based contract management is revolutionizing the way legal teams and other contract professionals handle their agreements. Cloud-based CLM supports streamlined processes, increased visibility, enhanced security, and reduced costs. As the demand for efficient, accessible, and cost-effective contracting processes grows, cloud-based approaches are emerging as the top choice for the job. Let’s explore cloud contract management via a simple, five-point plan to save time and money on legal operations.
Topics: cloud cloud-based cloud contracts cloud-sharing SaaS Cloud-Based Contract Management Software
Efficiently Manage ESG Contract Clauses With AI-Backed CLM Software
As ESG (environmental, social, and governance) variables continue to play an integral role within organizations and serve as a prioritized component within business decision-making, ESG clauses in contracts are increasingly at the forefront of contract negotiations and compliance.
Without the right contract management tools, ESG contract clause language can elongate negotiations and cause post-award compliance tracking difficulties.
Fortunately, AI-backed contract management software offers unique tools for reducing pre-award and post-award ESG contract clause bottlenecks so your team can address ESG principles and ESG goals. Read on to learn how.
Topics: Contract Compliance Contract Compliance Software contract clauses AI-Based Contract Management CSR Corporate Social Responsibility Contract Redlining ESG
What Is a Bilateral Contract? A Simple Guide
From simple deals between friends to complex business arrangements, contracts play a crucial part in defining the terms and conditions of an agreement. One common type of contract is a bilateral contract – which we will explore in this blog post!
What Is a Unilateral Contract? Definition & Examples
Contracts are an essential aspect of everyday business operations (and even everyday life in general). They govern myriad transactions and agreements – serving as the cornerstones of personal and business relationships. There are many different ways to categorize and compartmentalize contracts by type – including as unilateral and bilateral contracts.
One of the most common types of contracts that appears in business settings is a unilateral contract. What is this type of contract – and why does it matter?
In this blog post, we will dive into the concept of unilateral contracts and provide examples of how different types of unilateral contracts work!
6 Healthcare Contract Management Tools for Stronger Contracts
Healthcare contract management relying on manual processes can reduce efficiency for healthcare contract stakeholders, decrease revenue, and increase liability. Contract lifecycle management bottlenecks can decrease the efficiency of resources, compromise contract security, and disorganize crucial data. Read on to learn how to leverage six healthcare contract management software tools for stronger contracts.
Topics: Ad-Hoc Reports automated workflow Contract Compliance Contract Compliance Software Contract Lifecycle Management contract repository contract tracking Contract Tracking Software contract workflow healthcare contract management Report Designer Contract Reports & Analytics Healthcare Contract Management Software Contract Management Workflow Contract Searching
What Is Education Contract Management?
Colleges, universities, and school systems can encounter unique contract management challenges. Educational institutions manage a large volume of contracts, vendor contracts, suppliers, and providers of goods and services. A disorganized, risk-prone, and slow-moving education contract management system can cause:
- confusion among departments.
- wasted time.
- widened gaps between legal, procurement, and contract administrators within academic systems.
In order to avoid these issues, we need to first address the question. What exactly is education contract management - and how can it be improved with contract management software?
Topics: education higher education Higher education contract management Education Industry Contract Management Education Contract Management
10 Contract Management System Requirements Your Solution Needs & Why
There are many contract management solutions on the market. As such – searching for the best contract management software with which to manage contracts can be daunting. But it doesn’t have to be; you just need to know what to look for.
As such, let’s discuss ten contract management system requirements to look for when deciding on a contract lifecycle management (CLM) software solution that saves time and money for your organization.
Our Free Contract Tracker & How It Can Help Your Contract Process
Keeping track of contracts can prove challenging, especially without a centralized system. While contract management software provides a robust solution for contract lifecycle management, a basic contract tracking spreadsheet can help you retain some oversight. Read on to learn how you can leverage CobbleStone Software’s free contract tracker to help streamline your contract management procedures.
How To Utilize AI for Contract Review Processes
Conversations about artificial intelligence in a business setting are important. According to a study performed by MIT Sloan Management Review, over 80% of organizations see AI as a vehicle for strategic opportunity. Additionally, 85% of organizations view AI as a means for competitive business advantages.1
This interest in – and implementation of – AI applies to legal teams and other contract managers as well. Manually managing and reviewing an ever-increasing number of contracts of varying complexity is stressful and inefficient. But it does not have to be.
Organizations can improve contract review with AI-powered contract management software.
Topics: VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence Contract Review
How To Achieve Purchase Order Management System Success
Maintaining efficiency for purchase orders processing is key to organizational health. Whether your team is managing indirect procurement processes or is taking real-time action on inventory management and distribution processes – purchase order management process bottlenecks can result from:
- human error during purchase request processes and budget procedures.
- manual processes for tracking quantities received, inventory assets, and key dates.
- lack of clarity regarding approval status and personnel.
Thankfully, the proper PO management system can help. Let’s take a look into purchasing procedures that can help your organization succeed.
Topics: Purchase Order Management Purchase Order Module Purchase Orders purchasing purchase order software
CobbleStone Contract Insight® 22.1.1 - Continuous CLM Success
CobbleStone® has released its latest software update - CobbleStone Contract Insight® Enterprise Version 22.1.1. This new release offers refreshing contract management software tools for continuous CLM success! Read on to familiarize yourself with future-minded contract management software features and innovations to bring your legal operations to the next level!
The Business 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.
The 8 Stages of the Contract Lifecycle
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
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
The Top 7 Procurement Tools for 2023
As we begin procurement month in 2023, procurement teams should maximize their goals. An ineffective procurement strategy can lead to increased risk, dark purchasing, data inaccuracies, supplier issues, and a longer purchasing cycle.
So stop wasting time, opportunities, and resources with an inefficient and ununified procurement process.
Discover how you can leverage 7 procurement tools within procurement software. Enable procurement teams to attain cost savings and eliminate time-consuming bottlenecks in 2023 and beyond for procurement process-flow success in 2023 and beyond.
Topics: eProcurement eProcurement Planning procurement procurement and acquisition procurement management procurement process Procurement Software eProcurement Software bid management
ConfigAI℠: Proactive CLM Configuration Recommendations
CobbleStone Software is proud to present its proprietary clause metadata field recommendation feature - ConfigAI℠. A helpful feature within VISDOM® AI (CobbleStone's proprietary contract intelligence engine with machine learning), ConfigAI can provide proactive CLM field recommendations for metadata fields for contract clauses to streamline contract management software implementations!
Contract Management for Dummies: The Basics of Managing Contracts
Readers: don't worry; we don't really think you are dummies. We merely intend to guide you along the right path if you are new to contract lifecycle management or want to learn more.
The process of managing contracts can be challenging for even the most seasoned business professional. Even well-intentioned and well-thought-out contract processes can fall flat. Sadly, your organization can incur operational and financial risk without an ironclad strategy in place.
We are here to give you tips on how to work smarter and not harder when you deal with contracts. As such, let's go over the basics of managing contracts more efficiently and effectively!
Topics: Contract Lifecycle Management
8 Contract Negotiation Strategies To Reach a Win-Win Outcome
Nearly every business relationship involves a contract. At the crux of every contract is back-and-forth negotiation. This chess-like undertaking requires purposeful and good-faith cooperation on both sides.
The cutthroat, 1980s Wall Street businessman approach of trying to steamroll one’s opponent into submission often depicted in movies does not reflect successful contract negotiation in real life. True contract negotiation requires active listening, considerate acknowledgment of both parties’ pain points, and the ability to forge a win-win agreement.
As such, here are 8 contract negotiation strategies to improve your contract negotiation processes.
Topics: contract negotiation
2023 CobbleStone® Roadshow Reimagined: Achieve Sustainable CLM Success
The 2023 CobbleStone Roadshow Reimagined is coming to a computer or city near you this year, with monthly Contract Management Masterclass and Client Training events from February 24th through December 15th, 2023! Achieve sustainable contract lifecycle management success by attending a Contract Management Masterclass or Client Training event either online or in person - including on-site events in New York, NY; Washington, DC; Los Angeles, CA; and Houston, TX.
While the Contract Management Masterclass events offer prospective CobbleStone users an immersive and preliminary venture into contract management software, the Client Training events can help CobbleStone Admins optimize their CobbleStone Contract Insight® configurations and system processes. Read on to discover what attendees can anticipate at The 2023 CobbleStone Roadshow Reimagined!
Contract Management Software for Higher Education
Colleges, universities, and other education institutions draft, negotiate, and approve a myriad of contracts with vendors, partners, suppliers, and employees every year. Actively managing contracting processes and maintaining formal relationships can be difficult and time-consuming. This holds especially true for the many universities that don’t have a system in place for the contract management process.
Topics: Contract Insight education higher education Higher education contract management Contract Management Software University Contract Management Education Industry Contract Management Education Contract Management
How To Define & Manage a Manufacturing Contract
If your organization develops products, your team does not necessarily need to tackle the manufacturing process alone. In fact, most organizations enter into manufacturing contracts. These contracts make it so another company can handle the production process so that you can sell those finished products. A manufacturing contract sets the provisions of this agreement.
But what else is involved in a manufacturing contract? How does one manage a manufacturing contract once parties agree to enter one?
Let’s explore how to define and manage a manufacturing contract.
Topics: manufacturing contract manufacturing
What Is Contract Administration?
Contract administration can bring forth a host of challenges.
There needs to be an established plan and follow-through within a set timeline. Teams must track contract financials. There must be a plan for overseeing the contract lifecycle. Teams must have a plan for encountering risk variables.
Clearly, contract administrators have a lot on their plate. There is ample room for deleterious errors, contract risks, and bottlenecks – especially with manual contract methods. Fortunately, contract management software can help. Here's how.
3 Contractual Capacity Criteria to Enter a Valid Contract
Contracts are critical for a vast array of business processes. As such, legal teams and contract administrators must be prepared for contract lifecycle management. However, it is important to note that not everyone is positioned to engage in legally binding contracts for themselves or their organizations. As such, one of the crucial elements of a contract is the legal capacity of parties involved.
In this post, we’ll provide 3 criteria that dictate an individual’s capacity to enter into a contract.
What is AI-Based Contract Management?
Business automation is already sharpening professional methods across a variety of industries. However, advancements in AI (artificial intelligence) can be particularly advantageous as they apply to contract management software systems. Contract intelligence engines built upon a foundation of machine learning just need to be fed a nutritious diet of relevant contract data.
Topics: VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management
What Is an NDA? Understanding & Managing Non-Disclosure Agreements
You’ve probably heard the term “NDA” thrown around in the context of contract and business processes. But what is an NDA? When should they be used? How can NDAs be managed?
Let’s uncover what you need to know about the non-disclosure agreement (NDA).
Topics: Non-Disclosure Agreements NDA
Contract Management Reports for Robust CLM Data Analytics Oversight
Tracking contract management data with manual and disparate processes throughout the contract lifecycle can prove challenging. You can waste time and energy without readily accessible contract management reports for the following.
- Contract Financials
- Contract Terms
- Workflows
- Budgets
- KPIs
- Vendors
- Compliance Data
- & Other Essential Contract Data
Fortunately, leading contract management software can provide you with contract management reports for robust contract performance management oversight.
Topics: Ad-Hoc Reports Advance Reporting Contract Lifecycle Management Contract Management System Custom Reports Report Designer reports CLM Contract Reports & Analytics Contract Management KPI CLM Software
Letter of Intent: Defining & Managing a Good-Faith LOI
We know. We usually talk about contract management software here on the Contract Insights blog. But what if we rewound for now to a stage that often comes before contracts: letters of intent?
What is a letter of intent? Why does it matter? What does it have to do with contracts?
Read on to find out.
Topics: LOI Letter of Intent
Obligation of Contracts - An Overview
Unfulfilled contract obligations can create a post-award contract management nightmare that can escalate to stressful legal action – such as issuing a cease and desist or suing your counterparty.
So, how can you avoid this?
By clearly defining the obligation of contracts between you and your counterparty and leveraging contract management software tools to receive timely alerts for each obligation of contracts, you can retain contract obligation accountability instead of meddling with unnecessary disputes.
Topics: contract life cycle management Contract Lifecycle Contract Lifecycle Management Contract Lifecycle Stages tasks post-award contract automation contract obligations Obligation of Contracts
How Contract Review Can Be Easy With CLM Software
Contract review is a crucial contract management stage. Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.
Thankfully, we can establish a contract review processes checklist and manage the life of a contract with leading contract management software. Let’s get started.
Topics: contract authoring contract negotiation contract writing contract writing solution e-sign E-signatures eSignature signatures Electronic Signature electronic signatures eSignatures contract clauses electronic signature software IntelliSign digital signatures digital signature software COI Tracking contract signatures contract signing eSignature Software Contract Review
Breach of Contract & the Importance of Contract Tracking
At the heart of healthy business relationships are contracts. In an ideal world, contract parties perform obligations, they renegotiate or renew, and all are happy with a longstanding and fruitful business relationship…
…but unfortunately, we do not live in an ideal world.
Sometimes, one party fails to perform. As such, a breach of contract occurs. Time and money are wasted. Opportunities and value go “poof.” Crucial business processes are delayed or destroyed. Trust between parties is maimed.
With all of these negative effects, a breach of contract should clearly be avoided. Parties should have the right tools to identify contracts’ failure to perform and prevent breaches of contract. Thankfully, contract management software can help.
Contract Generation: Mastering Contract Management Series
Generation of contracts can be challenging for contract, procurement, and legal professionals. Manual contract generation can be tedious and error-prone. Moreover, a manual approach to document assembly can put organizations in the precarious position of facing:
- significant process bottlenecks.
- compliance issues.
- increased risk.
- excessive fines.
It’s time to take control of contract generation. Learn how to transform your manual contract generation process into a value-centric strategy. Make this transformation with the help of leading contract management software.
Topics: mastering contract management series contract generation contract management roi document assembly document assembly solution
Wet Signature Meaning & Why Handwritten Signatures Are Obsolete
Signed, sealed, delivered...What comes to mind when you imagine a "signature" being performed on a document? Most likely, you picture a wet signature - meaning a handwritten signature.
The iconography of the wet signature is pretty ubiquitous, but what does a signature do? What is a wet signature? Why is it so obsolete? What's a better option than a wet signature?
Read on to find out.
Topics: e-sign eSignature signatures electronic signatures eSignatures IntelliSign digital signatures eSignature Software
Digital Transformation: What It Is & Why it Matters
You have likely heard the term “digital transformation” in a professional context. This term has become ever more prevalent since the start of the COVID-19 pandemic. Digital transformation initiatives have been leveraged to transform business processes and business outcomes.
But what is digital transformation really – and why does it matter? Read on to find out!
Contract Termination - A Simple, 3-Step Approach
Contract termination should involve rigorous financial analysis, contract performance data analytics, and the creation of a notice of termination. Unfortunately, contract termination involves tight deadlines and specific terms required to terminate a contract. Organizations need a strategy to identify contracts not meeting contract KPIs, write notices of contract termination, and secure proper contract closeout.
This article will show you how to implement this strategy readily with the help of contract management software.
Topics: Contract Analytics Contract Insight contract writing Contract Management Document Collaboration contract termination
A Look at CobbleStone’s Contract and eProcurement Success in 2022
CobbleStone Software is proud to share that we have helped transform contract lifecycle management and procurement in 2022 in various ways. Additionally, we have experienced record-breaking growth this past year. From broadening our client base and partner network to providing leading contract management software innovations and more, here are some noteworthy CobbleStone® successes from 2022.
Topics: CobbleStone Software Contract Insight CobbleStone Conference CobbleStone Software Integrations CobbleStone Speaking Engagements Contract Management Conference Record Breaking Year Contract Insight® Software Updates integration CSR Corporate Social Responsibility CobbleStone Contract Insight®
Contract Lifecycle Automation - End-to-End CLM Efficiency
Managing contracts can be challenging for legal, procurement, and contract management professionals, especially when primarily relying on manual processes.
Managing the contract lifecycle can prove difficult with spreadsheets, emails, filing cabinets, and other disparate tools.
Contract lifecycle management requires careful planning, the right technology, a well-planned contract strategy, and holistic contract lifecycle automation processes. Thankfully, robust contract management softwarewith a foundation of AI and machine learning can help automate contract lifecycle management processes.
Topics: automated workflow Contract Lifecycle Management contract lifecycle software VISDOM AI Contract Artificial Intelligence Contract Management Workflow Contract Intelligence contract automation
A Concise Contract Management Best Practice Guide
Managing contracts from requests to renewals can prove difficult when relying on primarily manual processes. Your organization could be sacrificing accountability, visibility, a clearly defined strategy, and actionable insights. As such, you can find yourself running into compliance issues, minimizing contract value, and encountering other setbacks.
But it does not have to be this way. Modern advances in contract management technology can allow your organization to scale with success.
Read on to learn how leading contract management software can support each contract management best practice below for efficient contracting processes.
Contract Renewals: Mastering Contract Management Series
Manual contract management with spreadsheets, emails, emailed reminders, and wet signatures may suffice for organizations with low contract volume and complexity.
Unfortunately, organizations managing thousands of contracts of ranging types can face challenges. Moreover, such an outdated contract renewal strategy can increase risk and decrease opportunity realization. It's time to take control of contract renewals. Read on to learn how to leverage contract renewal process best practices with contract management software.
Contract Manager - A Brief Overview of What They Do
Contracts are essential in supplementing business transactions, business relationships, and business growth; naturally, so are those who manage those contracts. But what does a contract manager really do – and what makes a good contract manager? Read on to find out.
Topics: contract adminstration Contract Management smart goals for contract managers Contract Manager
Contract Meaning - What Does It Mean to Enter Into a Contract?
We hear about contracts all the time. They power business relationships across sectors, industries, and nations. Individuals, businesses, and societies at large use contracts to fulfill wishes and needs. Contracts keep our world moving.
But what is a contract really? Read on to find out.
Topics: Contract Management Process Contract Management Solutions Contract Management Software Contract Management
Contract Drafting Made Easy With Contract Software
Contract drafting is a multi-faceted and complex process. Document collaboration, contract authoring, negotiation, terms and conditions, and other relevant steps can be challenging. They are all the more challenging if you are relying on manual tools - such as shared drives and emails. Leave tedious, manual contract drafting methods in the past by embracing robust contract management software.
Topics: contract authoring contract drafting contract writing contract writing solution Document Collaboration document assembly document assembly solution concurrent document management Contract Drafting Software
4 Ways a Proper Electronic Contract Improves Contract Management
Traditional paper contracts were replaced long ago by better contract processes. The paper document has been foregone in favor of digital contracts. However, not all computer-based contract management processes are created equal.
Topics: Contract Software ROI Maximize ROI with CLM CLM ROI Electronic Signature electronic signatures AI-Powered Contract Management Software AI-Based Contract Management Cloud-Based Contract Management Software electronic signature software CobbleStone Contract Insight®
6 Vital Government Contract Management Tools for 2023
As a government contract manager, it's helpful to stay up-to-date with the latest government contract management, purchasing, and sourcing tools - especially as the industry keeps evolving through 2023 and beyond.
Read on to discover six user-friendly government contract management software tools you can leverage to streamline your public contracting processes.
Topics: Contract Lifecycle Management government contract management government contract software Contract Management Software Purchase Order Management Contract Management eSourcing software Contract Management AI AI-Based Contract Management source-to-contract software bid management OFAC
What Is an Executed Contract? - A Brief Overview.
Contract execution is a critical stage in contract lifecycle management. By this point, the terms of the contract have been negotiated. Parties have ensured that everything is understood and all necessary resources have approved the written agreement. From there, contract parties sign the contract to propel its execution.
Given the importance of this stage of contract management, you should know what an executed contract is and its meaning. As such, here is a brief overview of an executed contract.
Topics: E-signatures eSignature Electronic Signature electronic signatures eSignatures post-award contract automation electronic signature software eSignature Software contract execution
7 Enterprise Contract Management Best Practices To Succeed in 2023
Managing contracts can be challenging - especially when primarily relying on outdated tools such as spreadsheets, emails, and shared drives. Without accountability, visibility, and actionable insights, you can find yourself confronting contracting workflow bottlenecks. Enterprise contract lifecycle management (CLM) requires careful planning, the right technology, and a well-planned contract strategy.
To gain the most out of enterprise contract management, take advantage of seven best practices. Enterprise contract management best practices involve contract lifecycle management software. CLM software digitally unifies processes from contract requests through renewals. It provides a centralized, web-enabled, single source of truth for contracts.
Read on to learn more.
Topics: Contract Lifecycle Management Enterprise CLM Enterprise Contract Management Enterprise Contract Management Software
Boost AI-Based Contract Negotiations With CobbleStone® Auto-Redlining
The process of redlining contracts for contract negotiation can be challenging if done improperly.
Organizations that edit documents manually in Microsoft Word can increase the chances of human errors. What’s more, constant back-and-forth edits via emailed documents can result in version control mistakes and broken formats. Mission-critical clauses and sections can either be left out of a legal document or improperly positioned. Additionally, the amount of time spent on tedious, outdated redlining processes can result in lost revenue and opportunities.
Thankfully, your legal team can start saving time on the contract negotiation process with CobbleStone’s user-friendly auto-redlining tool - powered by VISDOM® artificial intelligence. Here’s how to leverage auto-redlining within CobbleStone Contract Insight® contract management software.
Topics: Contract Management Features VISDOM AI Contract Artificial Intelligence contract management software features Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence Contract Redlining
What Is Contract Negotiation and How Can Legal Technology Help?
Contract negotiation can create the difference between a strong or weak contract, which can directly impact the bottom line of an organization. As contract negotiation processes evolve at the speed of technological innovations, discover how leading-edge legal technology can empower your negotiation processes - including the use of robust version control, document collaboration, rules-based clause ownership, redlining software, and more. While contract negotiations can take their necessary time, automating contract negotiation steps where possible allows you to focus more on contract negotiation strategy.
Digital Signatures vs. Electronic Signatures: What's the Difference?
What is a digital signature? Is it not the same thing as an electronic signature?
We inhabit an ever-evolving technological landscape in which new and updated terminology and functionality are constantly presented. It can be confusing to know the differences between terms such as the two mentioned above. However, those differences are actually quite simple!
Familiarize yourself with these two terms. Discover how to utilize both eSignatures and digital signatures to establish a process that is:
- secure.
- user-friendly.
- compliant.
- and rapid.
Topics: digital innovation E-signatures eSignature Electronic Signature electronic signature software IntelliSign digital signatures digital signature software
CobbleStone Contract Insight® 22.1.0 - A Refreshing CLM Experience
CobbleStone Software's latest version – CobbleStone Contract Insight® Enterprise 22.1.0 – has arrived for a refreshing contract lifecycle management experience!
Read on to acclimate yourself with next-level CLM features and innovations to bring your contract management software platform into the future of legal operations!
Topics: Contract Insight contract lifecycle software Contract Management Software Benefits contract software Contract Insight® Software Updates contract management software features Web-Based Contract Management Software CobbleStone Contract Insight®
Reap the Rewards of Post Award Contract Management
Government contract management is divided into three stages: procurement or acquisition planning, sourcing, and post-award contract management.
The first two stages have had the most focused time and financial investment for improvement. This approach leaves post-award management as a secondary duty for contract officer representatives (CORs) and contract managers within legal teams. Consequently, they are left unsupported for compliance, risk management, and opportunity realization.
Arguably, contract processes after acquisition and sourcing are the most crucial stages for public-sector and private-sector contract managers. However, these stages notoriously lack proper visibility and resources. This article will address the challenges and present actionable post-award contract management best practices with the help of contract management software.
Topics: Contract Compliance government contract management government contract software contract renewals post-award contract automation contract obligations
Healthy Vendor Contract Management - 4 Simple Steps
We would venture to say that all businesses from various industries in the public and private sectors need vendors. Vendor relationships help power business processes. Vendors can provide supplies, services, maintenance, and raw materials for generating products. As such, it is important that organizations maintain business relationships with third-party vendors.
Unfortunately – as is the case with most things – there is a right and a wrong way to go about vendor management.
Contract and procurement teams need to sidestep spend leakage, detrimental terms, and soured vendor relationships. On the other hand, proper vendor contract management can set the stage for positive growth and opportunity realization. Here’s how.
What Is Contract Management Software?
As your organization grows, so do the complexity and volume of your contracts. Your contract management process needs to expand with your company. This is where a contract management system comes in.
But how can your business users prepare for growth with a better way of managing contracts?
Read on to find out!
Topics: Contract Management Software Benefits Contract Management Software contract management software features AI-Powered Contract Management Software Cloud-Based Contract Management Software Web-Based Contract Management Software
What Makes a Contract Legally Binding? How To Manage Legal Contracts.
Contracts and agreements power every industry. We would even venture to guess that virtually every business utilizes contracts in some form or another. As such, organizations must ensure that their contracts are properly prepared and legally enforceable.
Let’s review what makes a contract legally binding, and how to manage legal contracts to ensure that they are virtually airtight from contract execution to contract renewal.
Topics: legal contract management legal contracts legal technology legal operations legal operations software
How to Swap Disorganized Document Storage Systems for Something Better
Document, contract, and record management require a secure and accessible way to access necessary documentation and data. Unfortunately, this is not observed by some organizations – causing them to fall behind.
Outdated document storage methods that rely on file cabinets, shared drives, and locally-saved documents no longer cut it. Document scanning and subsequent file share can waste time and decrease oversight.
Thankfully, organizations no longer need to face storage limitations and decentralized file management. With enterprise content management within contract management software, organizations can up their storage game. Here’s how.
Topics: Document Collaboration legal document management software document assembly document assembly solution document management concurrent document management document management software Document Data Archival document repository Secure Documents Document Data Retention
Here’s Why Contract Templates Are a Must-Have for Contract Management
From services contracts to consulting agreements to employment contracts – contracts are an essential part of business relationships across industries. However, writing even simple contracts from scratch can seem daunting.
Without a starting point, drafting contracts can prove time-consuming and challenging. Your contract team can suffer from critical inaccuracies and missed opportunities.
Thankfully, your organization can leverage easy-to-customize and mergeable contract templates to save valuable time and maximize accuracy.
Topics: contract authoring contract writing contract writing solution templates contract clauses contract creation management contract templates
The 3 Document Lifecycle Stages - An Easy-to-Understand Overview
Managing various documents across business processes can be difficult. Without document controls and a development process for the management of business documents, your organization can expend valuable time and effort chasing down paper documents and those within disorganized digital storage. Without easy accessibility, your organization can suffer from document loss and misplaced versions.
Fortunately, your organization can compartmentalize the stages of a document lifecycle to better understand the document management process. To that end, let’s explore the three stages of the document lifecycle!
Topics: Document Collaboration legal document management software document assembly document assembly solution document management concurrent document management document management software Document Data Archival document repository Secure Documents Document Data Retention
Contract Lifecycle Process Failure - An Investigation
Oh no! It happened: contract lifecycle process failure. Something went wrong during contract lifecycle management - resulting in contract failure. But fear not; as a contract management professional, you are a worthy investigator. It is time to put on your detective hat, grab a notepad, and piece together the clues as to why your contract lifecycle process failed. You can also inspect how this tragedy could have been avoided with contract management software. Let the investigation begin!
Topics: CLMS Return on Investment contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software Contract Lifecycle Stages Maximize ROI with CLM CLM CLM ROI CLMS CLM Software
Why Your Document Repository Needs To Be Secure Yet Flexible
Managing documents within an unorganized and insecure document repository can slow down your document management processes and leave your organization exposed to undue risk. Relying on manual and disparate systems - such as shared drives, emails, and spreadsheets – can cause you to fall into document mismanagement pitfalls. Considering how organizations ranging from small businesses to global enterprises leverage document repositories daily, discover how contract management software can empower you with secure yet flexible document repository tools.
Topics: contract repository secure contracts Document Collaboration Contract Management AI document management contract data archival contract data retention Document Data Archival document repository Secure Documents Document Data Retention
4 Examples of Bad Contract Drafting & 4 Ways to Draft Contracts Better
Contract drafting can be a multi-faceted and tremendously tricky process. This difficulty especially holds true for those new to corporate law and contract management. Before we can get into how to draft contracts correctly, we must know what we should avoid. As such, here are four examples of lousy contract drafting – followed by four ways to draft contracts better.
Topics: contract drafting
CobbleStone Hosts Its Conference in Austin TX: October 12-14 2022
CobbleStone Software's in-person user conference will be hosted in Austin, Texas, from Wednesday, October 12th, through Friday, October 14th, 2022. The 2022 CobbleStone Conference will include engaging breakout sessions and dynamic speakers to enhance your contract management software experience. Considering that the 2021 CobbleStone Virtual Conference received tremendous positive feedback, we eagerly anticipate continuing our successful user conference track record by engaging with CobbleStone Contract Insight users and prospective users in person soon! Prospective CobbleStone users can register for a one-day-only complimentary contract management conference on October 13th. The 2022 CobbleStone Conference is proudly sponsored by Four Business Solutions. Read on to see what you can expect to gain from the 2022 CobbleStone Conference, so you can secure your seats before registration closes on October 1st, 2022!
Topics: CobbleStone Software CobbleStone Conference CobbleStone Speaking Engagements CobbleStone Contract Insight®
Passing on Contract Analysis? You May Be Repeating CLM Mistakes.
The age of digital transformation has forged a path of opportunity for analyzing vital information to improve business processes. This phenomenon strongly applies to contract data as well. Unfortunately, many businesses managing contracts fail to maximize contract data points to learn from mistakes and improve contract processes. As such, they fail to reduce risk, optimize contract terms and language, proactively recognize growth opportunities, strengthen the contract review process, and more.
Thankfully, you can avoid falling victim to contract lifecycle process failure and stagnation with contract management software.
Topics: Contract Analytics risk management Contract Reports & Analytics contract risk AI-Based Contract Management Contract Review Contract Analysis
Contract Clause – An Overview of How Contracts & Clauses Come To Be
Contract clauses and contracts themselves are built into the identity of the United States and so many other great nations. With the help of historic Supreme Court rulings, the contract and the contract clause were weaved into the cultural fabric of US society.
Topics: legal contract management contract clauses legal document management software legal workflow automation legal technology
7 Essential eSourcing Tools for 2023
Utilizing manual sourcing methods - such as gathering item prices in spreadsheets, corresponding with prospective bidders individually via email, leveraging paper-based RFPs, and collecting numerous data separately from pontential suppliers - can cause you to face a time-consuming challenge in sourcing quality and cost saving goods or services. Without the proper tools, sourcing professionals within your procurement team could fail to determine formal bids, RFPs, budget allowances, stock levels, current contracts, and contingencies in purchase order releases. Fortunately, you can utilize the following seven essential eSourcing software tools for seamless source-to-contract management success.
Topics: bids solicitation Vendor Contract Management Vendor Management eSourcing software source-to-contract software bid management
Million-Clause Project Milestone - 500K Clauses Fed To Contract AI!
In April 2022, we announced CobbleStone's exciting million-clause initiative to nourish and enhance VISDOM® AI - CobbleStone Software's proprietary contract intelligence engine with machine learning. In June 2022, we announced that 330K contract clauses had been fed to VISDOM contract AI. Now, we are thrilled to announce that over 500,000 clauses have been "fed" to VISDOM thus far! This stage in the momentous 1,000,000 contract clause project is just one of many testaments to why CobbleStone® has been hailed as the leader in contract management software.
Topics: VISDOM AI Contract Artificial Intelligence contract clauses Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence
5 Essential Contract Management Tools for 2023
With new advancements and options for effective contract management continually evolving, we’ve detailed five essential tools contract managers must empower themselves with to navigate the ever-changing landscape of contract management best practices going forward.
Topics: Contract Management Software Strategic Contract Management contract management software features contract management tools
What Is a Contract Amendment? How Can Contract Amendments Be Managed?
A contract amendment is a modification of the terms and conditions of a contract or subcontract.
Though we will explore contract amendments more in-depth, it is worth noting that changing the structure, duties, obligations, or rights of a contract requires increased oversight.
To that end, let's explore contract amendments and how disparate, important, and sensitive information can be managed, and contract amendments can be executed smoothly for effective contract management.
Topics: agreement database Agreement tracking contract database Contract Lifecycle Management contract repository Contract Software Solution data storage e-sign E-signatures eSignature lawyers Contract Management Software legal contract management legal contracts signatures Electronic Signature electronic signatures eSignatures Data Security records management system legal document management software electronic signature software IntelliSign legal technology document management legal operations secure contract repository contract signatures legal operations software contract signing eSignature Software Contract Review
6 Elements of a Contract - An Easy-to-Understand Overview
Business relationships power various industries within the public and private sectors. At the crux of virtually every business relationship is a contract. Contracts serve to cement the obligations, duties, and expectations of two or more engaged business parties.
But what are contracts really? How do they work on a fundamental level?
Let’s explore six key elements of a contract that are widely applicable to almost every business relationship – and why they matter for effective contract management.
Topics: Contract Management Process lawyers legal contract management legal contracts legal technology contract automation legal operations
5 Contract Drafting Tips To Invigorate Your Legal Operations
Contract drafting is essential in helping capture the purpose of a contract in written form. Haphazard drafting of a contract can result in pushing outdated contract versions to collaboration and negotiation. Additionally, the lack of a centralized and informed process can result in incorrect language being introduced into the review process. Unfavorable terms, missed obligations, and legal disputes can follow.
To help you avoid these consequences and more, here are five practical contract drafting tips for more effective contract management.
The CobbleStone University Certification Program
CobbleStone Software is proud to introduce the CobbleStone University Certification Program (CUCP)! The program will strengthen and verify our Partner Network’s expertise in CobbleStone Contract Insight® Enterprise. The program is comprised of a series of live training sessions and videos with accompanying documentation, and culminates in assessments to earn your certification. Read on to learn more!
Topics: CobbleStone Software Contract Lifecycle Management Contract Management System CobbleStone Contract Insight® CobbleStone University Certification Program
Contract Risk Management - Breaking Down the Basics
Proper contractual risk management is critical for the preservation of a healthy contracting process. Failure to adequately manage risk can be disastrous. Harmful risk oversights not only affect legal teams – but organizations as a whole.
Your organization should work to avoid a breach of compliance, violation of contract terms, lost revenue, wasted time, lawsuits, and a damaged company reputation. As such, let’s break down contract risk management and how it can be maximized with contract management software.
What Is Contract Management? Here’s What You Need To Know.
Contracts are legally binding agreements that define and govern the exchange of goods or services. A contract’s journey – from creation to fulfillment and completion – is complex and leaves room for errors and oversights. As such, a process has been generally agreed upon for the handling of contracts. This process is referred to as contract management.
But what is contract management, and how can it be approached? Here’s what you need to know.
Topics: Contract Management Features Contract Management Process Contract Management Solutions Contract Management System improve contract management Contract Management Software Contract Management Strategic Contract Management contract management software features contract management tools
6 Contract Compliance Mistakes You May Not Know You’re Making
Contract compliance is crucial for the success of a contract – and sets the stage for contract renewals. Unfortunately, many organizations are (sometimes unwittingly) exposing themselves to financial risk, breaches of contract, and legal penalties. Contract compliance mistakes can lead to contract failure, data leakage, a shattered reputation, lawsuits, and more.
Contract managers need to know their mistakes in order to correct course. As such, here are six contract compliance mistakes you might not know you’re making.
Not Using Contract AI? Contract Process Failure May Be In Your Future.
Digital transformation is the future of contract management – whether legal operations professionals like it or not. Organizations not leveraging contract intelligence may very well encounter a bleak contract lifecycle management future.
Topics: VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence
Here’s Why Electronic Document Signing Is Great for Contract Processes
Gathering signatures for a contract or agreement can be difficult without the proper tools. Outdated and slow signing methods can cause signature bottlenecks that delay contract execution. What’s more, high costs for wet signing and postage can decrease your bottom line.
Fortunately, there is a better way. Let’s discuss why electronic signature software within contract management software is awesome for your contract processes.
Topics: e-sign E-signatures eSignature signatures templates Electronic Signature electronic signatures Adobe Sign eSignatures electronic signature software IntelliSign digital signatures digital signature software contract signatures contract signing eSignature Software
3 Smart Goals for Contract Managers
As contract management continuously evolves amidst ongoing digital transformation, it's important to pursue smart goals that can keep up with the times. Rather than fall behind with manual contract management processes that require disparate tools - such as email, spreadsheets, and shared drives – read on to see how you can leverage future-minded contract management software tools to fulfill your contract management goals successfully.
Topics: Contract Lifecycle Management Contract Management System contract repository workflows CLM VISDOM AI Contract Artificial Intelligence AI-Powered Contract Management Software CLM Software Contract Management Workflow secure contract repository smart goals for contract managers
Contract Signing Made Easy with eSignature Software
Gathering contract signatures can be a challenging task, especially when working with multiple signatories in various locations. Signatures finalize contracts and propel their execution. This highly anticipated step can be delayed with manual processes that include scanning signed documents, emailing scanned contracts, signing with wet signatures, mailing contracts with wet signatures, and reorganizing signed contracts in shared drives - to name a few. Moreover, specific signatures can require notarization, which can further delay the signing process. Read on to learn how eSignature software within contract management software can make contract signing quick and easy.
Topics: Contract Lifecycle Management e-sign E-signatures eSignature Contract Management Software signatures eSignatures IntelliSign digital signatures digital signature software contract signing eSignature Software
Contract Authoring - What You Need To Know To Get Started
Contract authoring is essential. An inefficient process can hinder organizations and result in error-prone contracts with missing or misplaced clauses.
Additionally, overlooked key dates and milestones and a confusing process can stall the contract lifecycle. Luckily, leading contract management software can provide intelligent authoring. Read on to learn how to simplify and modernize the contract writing process.
Topics: contract authoring Contract Lifecycle Contract Lifecycle Management contract lifecycle software Contract Lifecycle Stages contract writing contract writing solution
6 Tips for Effective Contract Management in 2023
The age of legal operations digital transformation continues in 2023, with even more exciting digitization tools for business process automation available. The more contract administration tools available to legal teams and contract administrators – however – the easier it is to fall behind. With that said, let’s examine six tips for effective contract management in 2023 to get ahead with contract management software.
Topics: Agreement tracking contract negotiation contract performance Contract Performance Metrics contract repository contract tracking Contract Tracking Software e-sign E-signatures eSignature signatures tracking Electronic Signature electronic signatures Document Collaboration eSignatures VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management asset tracking electronic signature software IntelliSign digital signatures digital signature software contract collaboration Contract Redlining secure contract repository contract signatures
3 Key Contractual Compliance Management Areas To Streamline With CLM
Contractual compliance management can be challenging when leveraging primarily manual methods, such as spreadsheet management – especially when tracking multiple contracts with varying compliance standards. Fortunately, contract lifecycle management (CLM) software tools can help you retain contractual compliance. Read on to discover how you can streamline three key contractual compliance management areas with leading contract management software.
Topics: Contract Compliance Contract Compliance Software risk management CLM VISDOM AI Contract Artificial Intelligence contract risk OFAC Contract Intelligence CobbleStone Contract Insight® contractual compliance
Top 8 Contract Management Services for a Stronger Contract Lifecycle
A study examining the reasons for contract management process failure found that key indicators of contract mismanagement include (among others) poor contract lifecycle planning and scheduling, late or improper contract submission and approvals, weak leadership, and lack of counterparty collaboration and communication (Mohamed, Norazida, et al., 2019). Luckily, with leading contract management software and the proper contract management services, your organization can streamline contract management, decrease risk, increase revenue, and much more. To that end, let's examine our top eight contract management services for more robust contract lifecycle management.
Topics: Contract Data Extraction Contract Management Services Contract Software Implementation Implementation CobbleStone Software Integrations Enterprise CLM Implementation contract management training contract management software training integration
Million-Clause Project Update - 330K Clauses Fed To Contract AI So Far
In April, we announced CobbleStone Software's momentous million-clause initiative to enhance and nourish VISDOM® AI - CobbleStone's proprietary contract artificial intelligence engine with machine learning. Now, we are excited to share that - in just two months - over 330,000 clauses have been "fed" to VISDOM contract intelligence thus far! This momentous 1,000,000 contract clause initiative is just one of many reasons that CobbleStone® has been celebrated as the leader in contract management software.
Topics: VISDOM AI Contract Artificial Intelligence contract clauses Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence
What is Contract Lifecycle Management?
Organizations of all sizes face the need to juggle multiple contracts simultaneously, with each contract being at a different stage of the contract lifecycle. Leading contract management software reduces risk, improves productivity, and maximizes a contract's value. But what is contract lifecycle management? Read on to find out!
Topics: Contract Compliance Contract Compliance Software Contract Lifecycle Management contract negotiation contract writing contract writing solution Contract Management Software CLM electronic signatures contract approval process contract renewals electronic signature software IntelliSign contract requests
Artificial Intelligence Contract Analysis - Contract AI for Better CLM
The contract analysis process is a many-feathered bird. Between tracking and gaining insights from clauses, tracking contract status, and managing risk variables - there is ample room for mistakes and bottlenecks. Luckily, organizations can manage contract analysis better with contract artificial intelligence within contract management software.
Topics: VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence
What Is a Contract Administration Plan?
Contract administration can be a daunting process when relying on primarily manual tools - such as spreadsheets, shared drives, and disparate emails. Without accountability, visibility, and a clearly defined contract administration plan, you can find yourself running into compliance issues, minimizing contract value, and encountering other setbacks. Read on to learn how you can create a strong contract administration plan with the help of leading contract management software.
Topics: contract administration system contract adminstration Contract Analytics contract life cycle management Contract Lifecycle Contract Lifecycle Management contract tracking Contract Tracking Software risk management tracking workflow workflows CLM Contract Reports & Analytics Contract Artificial Intelligence contract risk AI-Powered Contract Management Software financial contract management CLM Software Contract Management Workflow
How Mass eSignatures Boost Healthcare Compliance & Efficiency
Within the healthcare industry, keeping documents and files up-to-date is crucial to maintaining compliance. Healthcare agencies, such as the FDA, NHS, and Health Canada, are continually monitoring hospitals, physician's offices, and other healthcare facilities to ensure healthcare professionals, administrators, and providers are keeping up with legal requirements. The maintenance of healthcare compliance and healthcare CLM efficiency requires significant time and resources invested in signing processes. With so many documents and versions to sign, there is room for error - and healthcare compliance can be jeopardized. Luckily, healthcare contract management software can provide mass eSignatures for maximized healthcare compliance and efficiency. Here's how.
Your CLM Platform - How to Set Sail Toward Better Contract Management
Navigating your CLM Platform can be difficult if you aren't 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 - possibly – renewed. The "lifecycle" is an archetype used to characterize and understand a contract's complex growth. The lifecycle voyage begins with contract requests and ends when said requests are achieved – with the feasibility of contract renewal. With so many complex processes involved in contract lifecycle management, it can be easy to sail toward the treacherous waters of contract mismanagement. With a strong sense of how to leverage leading CLM software, however, you can quickly get your legal operations sea legs! Read on to learn how you can set sail toward better contract management.
Topics: contract authoring Contract Compliance Contract Management Solutions contract negotiation CLM contract approval process contract requests contract obligations contract signatures
What Is Legal Operations Software?
As a legal operations professional, you hold a tremendous responsibility within your organization – especially in managing internal and external stakeholder processes. Relying on manual contract management processes such as spreadsheets, emails, and shared drives can create inefficient contract management processes that can decrease revenue, waste time, and increase risk. Read on to learn how legal operations software and contract management software can empower your day-to-day legal operations.
Topics: Contract Lifecycle Management contract workflow E-signatures eSignature legal contract management legal contracts paralegal risk management eSignatures Contract Artificial Intelligence contract risk legal filing system legal document management software Legal Workflow legal workflow automation electronic signature software legal requests digital signatures legal technology legal operations
What Is Contract Management in Healthcare?
What is contract management in the context of the healthcare industry? What steps, tasks, and requirements are involved? What does your organization need to do to maintain proper healthcare contract management processes? What tools can your organization use to centralize and streamline healthcare contract management? Read on to discover better contract management in healthcare with leading contract management software.
5 Key Advantages of Contract Management Workflow Automation
Managing contracts can be challenging when you rely on primarily manual processes. Managing the contract lifecycle from requests to renewals can prove challenging with spreadsheets, emails, and other disparate tools. Without accountability, visibility, a clearly defined process, and actionable insights, you can find yourself running into compliance issues, not realizing contract value, and encountering other contract management setbacks. Contract management workflow requires careful planning, the right technology, and a well-thought-out contract strategy. Read on to discover five key advantages of contract management workflow automation within contract management software.
Topics: automated workflow contract workflow workflow workflows legal workflow automation Contract Management Workflow contract management automation contract automation
Debunking Myths of Moving From On-Premise to SaaS Contract Management
Organizations may be hesitant to move from on-premise to software-as-a-service (SaaS) contract management solutions due to misguided presumptions. Such “myths” can be misleading and discouraging to potential software users, leaving them exposed to contract data loss, contract management software user errors, and the complication of contract lifecycle management process centralization. Conversely, cloud-based contract management software can streamline, unify, and automate legal operations. To that end, let’s set the record straight and debunk five prevailing myths about SaaS contract management.
What Is E Sourcing & How Can I Get Started?
What is e sourcing? Why is it important? What can I do to get started with a suitable eSourcing process? Read on to define "eSourcing," discover the troubles of manual sourcing processes, and learn how to optimize your eSourcing process in the age of digital transformation with a centralized and user-friendly integrated eSourcing software and contract management software platform.
7 Vital Legal Contract Management Software Tools for 2022
It remains true that general counsel and paralegals continue to encounter growing contract complexity and volume. An ineffectual legal contract management process makes obstacles for legal departments tough to overcome. Here’s how to leverage seven legal contract management software tools for a streamlined legal contract lifecycle, reduced risk, and minimal contract lifecycle bottlenecks and delays.
Topics: Ad-Hoc Reports contract authoring Contract Compliance contract negotiation contract writing legal contract management paralegal reports risk management Contract Reports & Analytics VISDOM AI contract risk contract approval process contract generation legal document management software Contract Management AI AI-Based Contract Management document assembly Legal Workflow contract requests legal requests OFAC
CLM + CRM = Sales Contract Management Success
Managing your CRM (client relationship management system) separately from your CLM (contract lifecycle management system) can cause sales contract management bottlenecks - such as disorganization, miscommunication, and increased risk. Fortunately, leading contract management software can help you achieve sales contract management success by seamlessly connecting your CLM and CRM. Read on to learn how connecting your CLM and CRM can help expedite your sales contract management process by sharing relevant and timely information between sales and contract management teams efficiently – helping close sales deals quickly and track post-signature responsibilities effectively until renewal.
Topics: Contract Lifecycle Management crm sales sales contract management software CLM salesforce CRM Management
Perks of Moving From On-Premise to SaaS Contract Management Software
In the age of digital transformation, organizations from a vast array of industries are switching from on-premise to web-based SaaS (software as a service) software deployment to streamline business operations. Those using contract management software are no exception. There are times when on-premise (deployed) contract management solutions are applicable. However, on-premise solutions can leave organizations exposed to contract data loss, contract management software user errors, and the complication of contract lifecycle management process centralization. Conversely, cloud-based contract management software can streamline, unify, and automate legal operations. To that end, here are some perks of switching from an on-premise to a SaaS contract management software solution.
Introducing New CobbleStone Contract Insight® End-User Training Videos
Onboarding and training your next generation of employees can prove time-consuming and somewhat stressful for most organizations. Turnover in your legal team, compliance, and other key roles can create friction that affects your bottom line. Fortunately, CobbleStone Software is dedicated to protecting your source-to-contract management workflows from process bottlenecks by creating a smooth learning experience for your new contract management software users.
Topics: Contract Lifecycle Management contract management training contract management software training
5 Electronic Purchase Order Management Tools for 2022
Purchase orders play a vital role in ensuring you have the goods and services necessary to operate and expand your business. With robust purchase order management software, you can lower administrative costs, boost accountability, enhance communication and asset management, and assist your organization in achieving successful operations - all while enjoying seamlessly integrated contract lifecycle management. Read on to learn five key electronic purchase order software tools within contract management software.
Topics: Purchase Order Management Purchase Order Module Purchase Orders purchasing purchase order software
How Energy Contract Management Software Powers the Energy Industry
Efficient contract management is essential for the health of organizations in all industries - including the energy industry. Energy sector companies need to work with many contracts, bids, vendors, suppliers, and contractors to maintain operations and increase revenue. Tackling these different processes in a fast-paced business environment can prove quite challenging. With a decentralized approach involving contracts stored in filing cabinets, costly payments per solicitation, limited vendor and supplier outreach, tedious collection of vendor responses through email, contract lifecycle inefficiencies, and easily-missed key date reminders, organizations in the energy sector can quickly find themselves "unplugged" and "out of battery" with decreased revenue, increased risk, and missed opportunities. Luckily, integrated contract and procurement software can help. Read on to learn how energy contract management software can supercharge energy industry contract and procurement operations to keep organizations "on the grid" of digital transformation.
7 Key Contract Lifecycle Management Questions To Consider
Managing contracts can be challenging - especially when primarily relying on outdated tools such as spreadsheets, emails, and shared drives. Without accountability, visibility, a clearly defined process, and actionable insights within a contract management software platform, you can find yourself confronting contract management bottlenecks. Contract lifecycle management (CLM) requires careful planning, the right technology, a well-planned contract strategy, and robust contract lifecycle management processes. To gain the most out of contract lifecycle management, you need to ask key questions in order to find the right answers. Read on to discover seven key questions to consider when implementing contract lifecycle management, including key features to look for when leveraging a CLM software platform.
Topics: Contract Lifecycle Contract Lifecycle Management contract lifecycle software Contract Lifecycle Stages CLM
No Advanced Electronic Signature Software? Here’s What You’re Missing.
An antiquated contract signing process can be exhausting and overly complicated. However, tedium and headache are not the only consequences. Organizations relying on paper-based printing, signing, wet signatures, drawn-out mailing times, and costly postage fees are essentially guaranteed to lose out on revenue, opportunity, and timeliness. But why? What's so good about a more modern contract signing solution anyway? Read on to learn about what you are missing if you lack an advanced electronic signature software solution within contract management software.
Topics: e-sign E-signatures eSignature signatures Electronic Signature electronic signatures eSignatures electronic signature software IntelliSign digital signatures digital signature software
6 Contract Analytics Software Tools for Strong CLM Oversight
Tracking contract management data with manual and disparate processes throughout the contract lifecycle can prove challenging. Without readily accessible contract analytics software tools for contract financials, workflows, budgets, KPIs, vendors, compliance, and other essential contract metadata, you can waste time and energy. Fortunately, leading contract management software can provide you with contract analytics software tools for robust source-to-contract lifecycle management oversight.
Topics: Ad-Hoc Reports Advance Reporting Contract Lifecycle Management Custom Reports Contract Management Software Report Designer reports Ad-Hoc CLM Contract Reports & Analytics
CobbleStone® Pioneers Million-Clause Initiative to Enhance Contract AI
There is an almost limitless abundance of wildlife within the animal kingdom. And yet, some zoologists can recognize thousands of species, along with how they function within their ecosystems, how they behave, what they eat, where they obtain shelter, etc. But how do zoologists come to know so much about the creatures around us? The answer is through repeated exposure to and study of such beasts.
Similarly, contract artificial intelligence within contract management software can come to recognize almost countless different types of clauses within contracts - if said contract intelligence engine is fed a "nutritious diet" of various contract clauses and terms. Such is the idea behind CobbleStone Software's million-clause initiative to nourish and enhance its proprietary contract artificial intelligence engine with machine learning - VISDOM® AI.
Topics: VISDOM AI Contract Artificial Intelligence contract clauses Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence
4 Fundamental Contract Management Software Features To Get You Started
It is easy to make your case for contract management software and its ability to positively transform contract lifecycle management processes. With so many user-friendly contract management software features at your disposal, it can be overwhelming to plan precisely how to utilize contract management software for your organization's needs. But it does not have to be. To that end, here are four fundamental contract management software features to get you started with better contract administration in the age of legal operations digital transformation.
Topics: Ad-Hoc Reports Advance Reporting automated workflow Contract Management Features contract repository contract workflow Custom Reports e-sign E-signatures eSignature Report Designer reports signatures tasks workflow workflows Electronic Signature electronic signatures eSignatures Contract Reports & Analytics contract management software features Legal Workflow legal workflow automation Contract Management Workflow electronic signature software IntelliSign Contract Searching Quick Search secure contract repository
Enforce Contract Data Archival and Retention Easily With CLM Software
Archiving and retaining contract data can prove challenging without the proper tools and procedures. Contract data archival and retention processes can vary based on categorization, legality, and compliance variables. Fortunately, leading contract management software can help sort through noise with the help of a secure contract repository, automated workflows, and timely notifications.
Topics: automated workflow contract alerts contract database secure contracts Contract Management Workflow contract data archival contract data retention secure contract repository
The Top 3 Contract Management Technology Trends of 2022
This blog was originally published on September 15th, 2021.
The world of contract administration has evolved drastically in recent years. Given the ongoing COVID-19 pandemic and the embrace of digital transformation over obsolete legal operations methods, organizations must embrace automated contract management software tools that support remote contract collaboration and intelligent workflow automation. As such, here are the top three contract management technology tools that organizations should leverage.
Topics: Document Collaboration VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management document assembly solution Web-Based Contract Management Software contract collaboration Contract Intelligence concurrent document management Google Drive MS Office 365
Enhance Corporate Compliance and Risk Management With CLM Software
Corporate compliance and risk management are critical for the success of a contract. Organizations need to be aware of potential exposure to financial risk, legal penalties, breaches of contract, and other risks while adhering to industry laws, government regulations, internal policies, and other compliance rules. Failure to do so can result in a lack of corporate compliance, contract failure, lawsuits, a compromised reputation, data leakage, and worse. Luckily, organizations can leverage leading contract management software to enhance corporate compliance and risk management. Here's how.
Topics: compliance Contract Compliance Contract Compliance Software risk management VISDOM AI Contract Artificial Intelligence contract risk Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence risk response plan
6 Problems Faced in Contract Management (And How To Solve Them)
As contract management is a multi-faceted process with numerous steps and moving parts, it is easy for your organization to face problems. This risk of contract management issues is significantly increased if your organization leverages manual or antiquated contract management tools. To elucidate the CLM hardships you face and encourage growth - here is a list of six problems you might encounter in contract management. After that, we can note how to solve such issues with contract management software.
Topics: audit trails automated workflow contract repository contract workflow data storage e-sign E-signatures eSignature signatures tasks templates workflow workflows Electronic Signature electronic signatures eSignatures contract approval process contract clauses contract renewals Legal Workflow legal workflow automation Contract Management Workflow electronic signature software IntelliSign
4 Important Contract Management Performance Metrics
When managing contracts, performance monitoring is one of the most important ways to measure success. With a large variety of contracts, all with different terms, it can be difficult to know how you should assess contract management performance. Luckily, you can boil down the success of each contract, no matter the complexity, to four key contract management performance metrics. Read on to discover how contract management software can help you optimize four key contract management performance metrics.
Topics: Contract Lifecycle Contract Lifecycle Management contract performance Contract Performance Metrics Contract Management Software CobbleStone Contract Insight®
CobbleStone® Recognized as a High Performer in G2 Spring 2022 Reports
We are pleased to announce that CobbleStone Contract Insight® Enterprise is recognized as a High Performer for Contract Lifecycle Management and Vendor Management in the G2 Spring 2022 Reports. Such acknowledgment further establishes CobbleStone Software as a world-class contract management software provider. Read on to learn more about CobbleStone Contract Insight Enterprise's robust features and high user satisfaction that support its standing as a High Performer in the G2 Spring 2022 Reports.
Topics: CobbleStone Software Contract Lifecycle Management Contract Management Software CobbleStone Contract Insight® CobbleStone Vendor Management Software G2
5 Key Stages in Awarding a Contract
Awarding a contract is a complex, multi-faceted process. There is room for error and missed opportunities without the right strategy. This blog will delve into the five critical stages in awarding a contract and how to seamlessly navigate these stages with leading contract management software tools.
Topics: contract authoring contract drafting contract negotiation contract writing contract writing solution e-sign E-signatures eSignature signatures Electronic Signature electronic signatures eSignatures contract approval process IntelliSign contract requests legal requests
6 Ways Contract Creation Software Can Improve Your Contracting Process
Contract creation is a multi-faceted process. Without the proper procedures, your organization can suffer from increased risk, drawn-out contract lifecycle times, and missed opportunities - among other deleterious consequences. Contract documents and data stored on spreadsheets, email servers, and shared drives alone can result in lost contract documents and versions. Back-and-forth contract drafting via email can result in slow collaboration times and unclear document versions. An inadequate clause management process can result in the wrong clauses being included in contracts and missed opportunities. Wet contract signatures can result in long send-to-sign times and costly postage expenses. What's more, risk can increase, resulting in lost revenue, data leakage, lawsuits, and more. Fortunately, you can leverage contract management software to avoid sending your contract creation process into a tailspin. To that end, here are six ways contract creation software can improve your contracting process.
Topics: automated workflow contract drafting contract repository contract workflow data storage e-sign E-signatures eSignature risk management signatures workflow workflows Electronic Signature electronic signatures Document Collaboration eSignatures contract risk Legal Workflow legal workflow automation Contract Management Workflow electronic signature software IntelliSign contract collaboration risk response plan contract creation management
CobbleStone Contract Insight® 17.11.0: Master New Tools to Enhance CLM
CobbleStone Software's latest version – CobbleStone Contract Insight® Enterprise 17.11.0 – has come, introducing next-level CLM features and enhancements for you to master to bring your contract management software platform to the next level!
Topics: contract authoring Contract Data Extraction Contract Insight contract negotiation contract security contract writing contract writing solution e-sign E-signatures eSignature Purchase Order Management Purchase Order Module Purchase Orders purchasing secure contracts security signatures Vendor Contract Management Vendor Management vendors Electronic Signature electronic signatures Document Collaboration eSignatures VISDOM AI Contract Artificial Intelligence Data Security Contract Insight® Software Updates Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management purchase order software electronic signature software IntelliSign contract requests legal requests contract collaboration Contract Intelligence User Permissions Vendor Registration Vendor Registration Wizard Vendor Gateway concurrent editing CobbleStone Contract Insight® CobbleStone Vendor Management Software
Is It Time to Hire a Full-Time Legal Reviewer or Paralegal?
Over the last year, our clients - legal professionals - have expressed their seemingly increased workload for reviewing contract documents, negotiating agreements, and signing contracts. Recently, I was asked: "When do you know it is time to hire a full-time legal professional for contract management and legal review?" Considering the innumerable times I've been asked this question, I resolved to write a thorough and thoughtful response as a blog that aligns with our audience of contract management software users and prospective CLM users as well. Discover 5 steps to determine if you need to hire a full-time legal reviewer or paralegal.
Topics: Contract Management Solutions Contract Management System Contract Management Software legal contracts Maximize ROI with CLM paralegal CLM Software Legal Workflow legal technology legal operations
Contract Tracking: Mastering Contract Management Series
This blog post was updated on March 9th, 2022. Its original publication date was February 4th, 2019.
Contract tracking can be a significant challenge for legal teams, contract managers, and other industry professionals. Manual contract management processes may suffice for organizations with low contract volume and contract complexity. However, when the number of contracts increases to hundreds, thousands, and beyond, contract failure rates increase exponentially. Read on to learn how to master contract tracking with leading contract management software.
Topics: Agreement tracking contract tracking Contract Tracking Software tracking mastering contract management series
What Is Vendor Management Software?
Vendor management efficiency is critical for organizations to reap the highest ROI from vendor relations. Unfortunately, many organizations still rely on vendor management methods that depend on costly pay-per-solicitations, unclear selection of the best possible vendors, tracking vendor insurance certificates manually, decentralized vendor management and contract management processes, and other deleterious procedures. Luckily, you can automate these processes and more with vendor management software. But what exactly is vendor management software? Let's improve your processes with integrated vendor management and contract management software.
Topics: Vendor Contract Management Vendor Management vendors Vendor Registration Vendor Registration Wizard Vendor Gateway CobbleStone Vendor Management Software
CobbleStone Software Blog Recap for February 2022
Topics: Ad-Hoc Reports Advance Reporting automated workflow contract administration system Contract Analytics Contract Lifecycle Management Contract Management Blog Recap contract workflow Custom Reports e-procurement e-sign E-signatures eProcurement eProcurement Planning eSignature Contract Management Software procurement procurement contracts procurement management procurement process Procurement Software Report Designer reports signatures workflow workflows Electronic Signature electronic signatures eSignatures Contract Reports & Analytics VISDOM AI Contract Artificial Intelligence contract management training contract management software training eProcurement Software Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Legal Workflow legal workflow automation Contract Management Workflow electronic signature software IntelliSign Contract Intelligence CobbleStone Contract Insight® contract creation management
CobbleStone® at Legalweek 2022: See AI-powered CLM Software in Action
CobbleStone Software will be exhibiting its industry-leading and AI-backed CLM software, CobbleStone Contract Insight®, during the Legalweek conference from March 8th – 11th, 2022, at the New York Hilton Midtown in Manhattan – offering Legalweek attendees the opportunity to see AI-powered legal contract management software in action.
Topics: contract life cycle management legal contract management CLM VISDOM AI Contract Artificial Intelligence Contract Management AI legal technology Contract Intelligence Legalweek
5 Procurement Contract Management Best Practices to Blast Off in 2022
Recent developments in procurement process digital transformation have made it more possible than ever to streamline procurement contract management processes and blast off into the sky to robust procurement and contract management software processes. As such - if your organization is leveraging outdated procurement tools such as disparate spreadsheets, manual filing cabinets, a basic contract database, limited bid outreach, manually collecting bid responses via email, bottleneck-prone procurement contract management task management, disparate vendor management via emails, and others - you could suffer from failure to launch. Luckily, you can leverage a one-stop-shop solution for the processes mentioned above and more. To prepare for takeoff into positively transforming your strategy, here are five procurement contract management best practices to navigate 2022 and beyond with increased governance, procurement centralization, and ROI.
Topics: e-procurement eProcurement eProcurement Planning procurement procurement and acquisition procurement contracts procurement management procurement process Procurement Software
5 Ways Contract AI Can Automate Contract Lifecycle Management in 2022
As we navigate 2022, it is clear that contract artificial intelligence - or contract AI - is sharpening contract management software practices and broader legal operations in significant ways. How exactly can your organization leverage contract intelligence to automate and streamline contract lifecycle management? Read on to learn five ways contract AI is positively transforming contract lifecycle management operations in 2022.
Topics: VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management Contract Intelligence
IntelliSign® eSignatures Streamline Remote Contract Collaboration
As digitization continues to transform the workplace and working remotely is more commonplace, contract management professionals in a myriad of industries need the right digital tools to keep contract management, procurement, and sourcing operations running smoothly. Read on to learn how IntelliSign® electronic signatures within CobbleStone Contract Insight® contract management software, can streamline your contract collaboration and signing processes in the office and on the go.
Topics: CobbleStone Software E-signatures eSignature Electronic Signature electronic signature software IntelliSign CobbleStone Contract Insight®
Contract Workflows - The Parts of Your Contract Software Symphony
It's showtime, conductor. You have just taken the metaphorical stage, grabbed your baton, and you are ready to conduct a contract management software symphony with a harmonious contract workflow process. But how can you leverage contract workflow automation tools to make sure your CLM concerto is streamlined and simplified in a manner that is pleasing to the ear? Read on to find out!
Topics: automated workflow contract workflow workflow workflows Legal Workflow legal workflow automation Contract Management Workflow
The Contract Management Suite - Your 5-Star CLM Software Experience
After dealing with exhausting manual contract management software best practices, you are searching online for a pleasant, relaxing stay in a contract management suite. There are many leading contract management software platforms out there, but only leading solutions offer the amenities you need to kick back and enjoy improved legal operations. To virtually ensure you have the best possible CLM experience, here are the amenities you should look for in your contract management suite.
Topics: Contract Management Solutions Contract Management Software ROI for Contract Management Software contract management software features AI-Powered Contract Management Software Cloud-Based Contract Management Software Web-Based Contract Management Software
CobbleStone Software Blog Recap for January 2022
Topics: contract administration system contract authoring Contract Compliance Contract Compliance Software Contract Lifecycle Management Contract Management Blog Recap contract negotiation Contract Management Software eSourcing software CobbleStone Contract Insight® Contract Redlining
The 2022 CobbleStone® “Roadshow” – Launch Into the Future of CLM!
The CobbleStone "Roadshow"* is coming to a computer near you this year! These masterclass and CobbleStone Contract Insight training events - Launch Into The Future Of Contract Management - are offered to help CobbleStone users optimize their contract management software and eProcurement procedures while offering non-CobbleStone users an immersive, preliminary venture into CobbleStone Contract Insight®. Read on to discover what attendees can anticipate at The 2022 CobbleStone Contract Management "Roadshow."
Optimize Contract Creation Management in 3 Steps
Contract creation management plays a vital role in the contract lifecycle, where contract contributors band together to form a cohesive contract. However - inefficient contract creation management can stem from unorganized contract templates, obsolete contract language, and subcontracts divorced from original contract versions. Read on to discover how leading contract management software can help streamline contract creation management in three steps.
Topics: contract drafting Contract Lifecycle Management contract lifecycle software contract negotiation Contract Management contract creation management
New CobbleStone Contract Insight® Contract Management Software Wiki!
The CobbleStone Contract Insight Wiki Has Moved!
The CobbleStone Contract Insight Wiki has been drastically refreshed to provide a unique and conducive experience across contract management software system areas! Here at CobbleStone, we are incredibly excited to introduce users to a contract management software Wiki to quickly address their contract lifecycle management software needs. Whether you have been using CobbleStone® as your go-to contract software solution for days, weeks, months, or even years, there's a good chance that you are not familiar with every single detail the system has to offer. Luckily, the new CobbleStone Contract Insight Wiki can allow you to follow along for a more streamlined and visually-engaging learning experience - complete with visual examples and walkthroughs. Read on to learn how to navigate the new CobbleStone Contract Insight Documentation Wiki with ease!
Topics: CobbleStone Software Contract Insight Contract Insight® Software Updates CobbleStone Contract Insight®
Contract Management and Negotiation - A Delicious Recipe for Success
As a contract management professional, you must be able to cook up a deliciously low-friction contract negotiations process. However, without a centralized and organized system for contract negotiations, you can end up burning the meal for all contract lifecycle management stakeholders at the table. But fear not: leading contract management software can be the secret ingredient to a savory, delectable contract negotiations process. Read on to learn how.
Topics: contract authoring contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software contract negotiation contract writing contract writing solution CLM CLMS Document Collaboration document assembly document assembly solution CLM Software document management concurrent document management
How to Redline Contract Documents Better With Contract Software
Redlining a contract document can prove to be an arduous facet of contract negotiations. Collaborating with stakeholders to redline contract documents with outdated methods such as back and forth sharing of MS Word documents, sporadic emails, and disorganized shared drives can cause contract negotiation bottlenecks. But there is a better way. Start leveraging leading contract management software and enjoy online contract redlining for enhanced contract negotiations.
Topics: Contract Lifecycle Management contract negotiation Document Collaboration contract collaboration concurrent document management concurrent editing Contract Redlining
9 Must Read Contract Management Resources for Spring 2019
ntractCobbleStone Software supports contract management, procurement, and legal professionals by releasing content to help you improve how you manage contracts. Whether you are managing ten contracts each year for a small business, or 100K contracts or more each year for a Fortune 500 company, we’ve created resources to supplement your contract management training and education, so you can be successful in your role and get the most value out of your organization’s contracts.
Topics: Contract Management
3 Contract Compliance Management Challenges Solved With CLM Software
Contract compliance management can be challenging when leveraging primarily manual methods, such as spreadsheet management – especially when tracking multiple contracts with varying compliance standards. Fortunately, contract lifecycle management (CLM) software tools can help remedy contract compliance management challenges. Read on to discover how you can solve three contract compliance management challenges with leading contract management software.
Topics: Contract Compliance Contract Compliance Software risk management VISDOM AI Contract Artificial Intelligence contract risk OFAC Contract Intelligence CobbleStone Contract Insight®
5 Key Advantages of Online Contracts
Managing contracts can be challenging for legal, procurement, and contract management professionals - especially when primarily relying on outdated tools such as spreadsheets, emails, and shared drives. Without leveraging the advantages of online contracts within a leading contract lifecycle management software platform, you can find yourself running into compliance issues and minimizing contract value – among other setbacks. Contract lifecycle management requires careful planning, the right technology, a well-planned contract strategy, and strong online contract management processes. Fortunately, leading contract management software can help streamline your online contract management process flow. Read on to discover five key advantages of online contracts.
Topics: cloud contracts Contract Lifecycle Management Contract Management Software SaaS Web-Based Contract Management Software online contracts
4 Different Phases of Contract Management & How to Tackle Them
Contract management is a multi-faceted process. Without oversight over each stage in the life of a contract, your organization can suffer from process bottlenecks, missed contract obligations and tasks, wasted time, lawsuits, decreased revenue, and missed opportunities - to name a few. Fortunately, you can increase your ROI by better understanding approaching contract management. Here are the four phases of contract management and how to tackle them with contract management software.
Topics: CLMS Return on Investment compliance Contract Analytics contract authoring Contract Compliance Contract Compliance Software contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software Contract Lifecycle Stages contract negotiation contract writing contract writing solution e-sign E-signatures eSignature Maximize ROI with CLM signatures CLM CLM ROI CLMS Electronic Signature electronic signatures Document Collaboration eSignatures Contract Reports & Analytics contract approval process contract renewals document assembly document assembly solution CLM Software electronic signature software IntelliSign contract requests legal requests contract collaboration
6 Reasons Why Contract Management Is Necessary
Contract management is a process that has been embraced by contract professionals of numerous industries worldwide. But why do organizations need contract management? Read on to discover six reasons why contract management is necessary - and how you can positively transform contract management with user-friendly contract management software.
Topics: Ad-Hoc Reports Advance Reporting audit trails automated workflow Contract Analytics contract negotiation contract repository contract workflow contract writing contract writing solution Custom Reports Dashboards data storage e-sign E-signatures eSignature Report Designer reports signatures tasks workflow workflows Electronic Signature electronic signatures Document Collaboration eSignatures Contract Reports & Analytics legal document management software document assembly document assembly solution Legal Workflow legal workflow automation Contract Management Workflow electronic signature software IntelliSign Contract Searching document management contract collaboration concurrent document management concurrent editing Quick Search
4 Contract Visibility Tools To Prevent Lost Contract Management Value
Contract visibility during contract management can be hard to maintain. Without the right tools for successful contract oversight, your organization can lose sight of contracts. Up-to-date contract document versions can be scattered amongst outdated ones. Contracts and contract data can be lost or misplaced if stored improperly. Contracts can be difficult to access and yield meaningful insights from with tedious and error-prone searching methods. Key dates and milestones can be missed - causing contract lifecycle bottlenecks, missed obligations, and compliance issues. Luckily, it doesn't need to be this way. Read on to discover four contract visibility tools with user-friendly contract management software.
Topics: Ad-Hoc Reports Advance Reporting audit trails automated workflow contract repository contract workflow Custom Reports Report Designer reports workflow workflows Contract Reports & Analytics Legal Workflow legal workflow automation Contract Management Workflow Contract Searching Quick Search
Here’s How CobbleStone Software Helped Transform CLM in 2021
CobbleStone Software is proud to share that we have helped transform contract lifecycle management processes in 2021 in numerous ways – and we have experienced record-breaking growth this past year. From expanding our client base and partner network to bringing leading contract management software innovations and more, here are some noteworthy CobbleStone® achievements from 2021.
Topics: CobbleStone Software Contract Insight CobbleStone Conference CobbleStone Software Integrations CobbleStone Speaking Engagements Contract Management Conference Record Breaking Year Contract Insight® Software Updates integration CSR Corporate Social Responsibility CobbleStone Contract Insight®
CobbleStone Software Blog Recap for December 2021
Topics: contract administration system contract authoring Contract Lifecycle Management Contract Management Blog Recap Contract Management Software risk management eSignatures CobbleStone Contract Insight® Contract Management Best Practices Series
How To Improve Contract Management in 3 Simple Steps
As contract management continuously evolves amidst constant digital transformation, you can find various ways to improve your processes. Rather than fall behind with manual contract management processes that require disparate tools - such as email, spreadsheets, wet signatures, and postal mail – read on to see how you can improve your contract management processes with future-minded contract management software.
Topics: Contract Lifecycle Management Contract Management System improve contract management CLM CLM Software
The Top 8 Items for Legal Digital Transformation in 2022
CobbleStone Software’s Executive VP and Founder, Mark Nastasi, narrows down his top eight items of recommendation to help you lead your legal digital transformation in 2022.
Topics: automated workflow contract drafting contract repository contract workflow digital innovation legal contract management workflow workflows Document Collaboration VISDOM AI Contract Artificial Intelligence post-award contract automation legal document management software Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management document assembly document assembly solution Legal Workflow legal workflow automation Contract Management Workflow legal requests legal technology contract collaboration Contract Intelligence Vendor Registration Vendor Registration Wizard concurrent editing digital transformation legal operations
Manage Contracts Remotely – Contract Management Best Practices Series
Managing contracts from requests to renewals can prove difficult when relying on primarily local processes. Without effective remote contract management tools, you can find yourself running into inefficient contract management processes that limit workplace flexibility and create contract workflow bottlenecks. Read on to learn how leading contract management software can support remote contract management success.
Topics: automated workflow CobbleStone Mobile App contract tracking Contract Tracking Software contract workflow workflows Contract Management Workflow Contract Redlining Contract Management Best Practice Contract Management Best Practices Series
Manage Contract Risk - Contract Management Best Practices Series
Managing contract risk is crucial in ensuring the health of a contract. Overlooking unchecked contract risk variables can have catastrophic consequences for not only contracts – but for your organization as a whole. In order to avoid wasted time, wasted revenue, a damaged organizational reputation, lawsuits, and more – embrace contract risk management best practices. Learn how with this blog from our Contract Management Best Practices Series.
Topics: risk management contract risk risk response plan Contract Management Best Practice Contract Management Best Practices Series
Speedy eSignature Signing - Contract Management Best Practices Series
Gathering required signatures for contracts can prove challenging, especially when working with multiple signatories in various locations. Considering signatures finalize contracts and propel their post-award execution, this highly anticipated step can be delayed with manual wet signatures and disparate signing processes. Contract management best practices require leveraging speedy eSignatures for CLM process-flow success. Read on to learn how eSignatures offered by contract management software can make online contract signing quick and easy.
Topics: Contract Lifecycle Management Contract Management System E-signatures eSignature Contract Management Software Electronic Signature electronic signatures eSignatures electronic signature software IntelliSign digital signature software Contract Management Best Practices Series
Maximize Contract Tracking - Contract Management Best Practices Series
Contract tracking can be complicated for contract management professionals in various industries. Manual contract tracking can cut it for a while – until contract complexity and contract volume grow. Leveraging manual contract tracking methods proves problematic once your organization starts managing hundreds or thousands of contracts and – in time – contract failure rates increase. Leave contract tracking methods involving manual paper and filing systems, disjointed spreadsheets, and decentralized emails in the past in favor of something better. Learn how with this blog from our Contract Management Best Practices Series.
Topics: Agreement tracking contract tracking Contract Tracking Software Contract Management Best Practice Contract Management Best Practices Series
Expedite Contract Assembly - Contract Management Best Practices Series
Contract assembly (or contract document assembly) is essential in contract lifecycle management. Contract stakeholders and document assembly resources gather to assemble a cohesive and accurate contract document. However, inefficient contract document assembly processes involving the lack of a central location for contracts, scattered contract clauses, outdated contract language, subcontracts disconnected from related contract documents, and no clarity regarding up-to-date contract document versions can leave your organization open to increased risk. Contract risk can include contract non-compliance, revenue leakage, unfulfilled obligations, lawsuits, and missed opportunity. Avoid contract risk and get the highest ROI from your contracts by discovering how to expedite contract document assembly with leading contract management software. Read this entry from our Contract Management Best Practices Series.
Topics: document assembly document assembly solution Contract Management Best Practice Contract Management Best Practices Series
Automate Contract Lifecycle: Contract Management Best Practices Series
Managing the contract lifecycle with manual processes can create contract management bottlenecks that waste time and energy. Fortunately, you can automate contract lifecycle management with contract management software tools that can streamline each stage of the contract lifecycle. Read on to discover how you can leverage the next best practice within our series by automating contract lifecycle management.
Topics: Contract Lifecycle Contract Lifecycle Management CLM CLM Software Contract Management Best Practice Contract Management Best Practices Series
Dashboard Contract Management - CLM Dashboards for Contract Analytics
Contract management software can help organizations increase revenue, decrease bottlenecks, and enhance efficiency. However, many contract management software platforms lack a means of viewing key data at a glance. Read on to discover the benefits of dashboard contract management and how leading contract lifecycle management software that offers various dashboard options can drastically improve contract analytics.
CobbleStone Software Blog Recap for November 2021
Topics: CLMS Return on Investment Contract Data Discovery and Extraction Contract Data Extraction contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software contract repository legal contract management Maximize ROI with CLM paralegal SaaS secure contracts CLM CLM ROI CLMS Contract Insight® Software Updates legal document management software CLM Software Legal Workflow legal workflow automation Web-Based Contract Management Software legal technology General Counsel legal operations Contract Management Best Practice CLM Best Practices Series
Secure Contract Repository - Contract Management Best Practices Series
The first best practice in our Contract Management Best Practices series requires leveraging a centralized and secure contract repository. Relying on manual and disparate systems - such as shared drives, emails, and spreadsheets – can cause you to fall into contract mismanagement pitfalls. Discover how contract management software can empower you to leverage a centralized and secure electronic contract repository.
Topics: Contract Lifecycle Management contract repository secure contracts Contract Management Contract Management Best Practices Series
6 Mistakes in Contract Management To Avoid
Contract management professionals of all types are in the age of digital transformation. Organizations need to correctly leverage contract management tools to adapt successfully. As with any practice, mistakes in contract management are quite possible. Contract management teams leveraging obsolete, manual methods are even more likely to commit CLM errors – resulting in contract lifecycle bottlenecks, missed key dates and milestones, and lost revenue. Mistakes in contract management must be avoided. Read this blog to discover six common mistakes in contract management – and how they can be evaded with the help of contract management software.
Topics: Agreement tracking CLMS Return on Investment contract authoring contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software Contract Lifecycle Stages contract repository contract tracking Contract Tracking Software contract writing contract writing solution e-sign E-signatures eSignature Maximize ROI with CLM signatures tracking CLM CLM ROI CLMS Electronic Signature electronic signatures eSignatures VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management document assembly document assembly solution CLM Software electronic signature software Contract Intelligence
5 Key Advantages of SaaS Contract Management Software
Managing contracts can be challenging for legal, procurement, and contract management professionals - especially when primarily relying on outdated tools such as spreadsheets, emails, and shared drives. Without accountability, visibility, a clearly defined process, and actionable insights within a SaaS contract management software suite, you can find yourself running into compliance issues, minimizing contract value – among other setbacks. Contract lifecycle management requires careful planning, the right technology, a well-planned contract strategy, and comprehensive SaaS contract management processes. Fortunately, robust SaaS contract management software can help streamline your contract lifecycle management processes. Read on to discover five key advantages of SaaS contract management software.
Topics: cloud cloud-based cloud contracts cloud-sharing SaaS Cloud-Based Contract Management Software Web-Based Contract Management Software Contract Insight® Express Edition
Streamlined Contract Data Extraction With CobbleStone®
Do you have many contracts to extract data from and organize within a centralized, web-enabled contract management software suite? Extracting contract data - especially from hundreds or thousands of legacy contracts - can seem overwhelming, however, it doesn’t have to be. Read on to learn how CobbleStone can help streamline your contract data extraction process in three easy steps.
Topics: agreement database Contract Data Extraction contract database data data storage Data Security Data center
5 Contract Management Challenges and Practical Solutions
Professionals engaging in the contract management process can find themselves facing a myriad of challenges. Many of these challenges are born from a decentralized strategy and a lack of automated contract lifecycle management tools. Read this blog to discover five common contract management challenges and five leading solutions to those problems.
Topics: automated workflow contract repository contract tracking Contract Tracking Software contract workflow data storage e-sign E-signatures eSignature signatures tracking workflow workflows electronic signatures eSignatures document assembly document assembly solution Legal Workflow legal workflow automation Contract Management Workflow electronic signature software
4 Legal Ops Tools for General Counsel, Corporate Counsel, & Paralegals
As a legal professional, you hold a tremendous responsibility within your organization – especially with managing internal stakeholders and maintaining efficient processes with external stakeholders. Relying on disparate and manual contract management processes such as spreadsheets, emails, and shared storage drives can create an inefficient contract management process that can waste time, decrease revenue, and increase risk. Read on to learn how paralegals, general counsel, and corporate counsel can leverage four essential legal ops contract management software tools for success.
Topics: contract life cycle management Contract Management Software paralegal legal technology General Counsel legal operations
CobbleStone Contract Insight® 17.10.0: Empower Legal Ops for a New Era
CobbleStone Software's next software generation – CobbleStone Contract Insight® Enterprise Version 17.10.0 – has arrived, introducing next-level CLM features and enhancements to bring your contract management software suite even further into the new era of legal operations!
Topics: Ad-Hoc Reports agreement database automated workflow Business Process Automation CobbleStone Mobile App Contract Insight contract workflow data data storage risk management Vendor Management vendors workflow workflows Document Collaboration contract risk Contract Insight® Software Updates Legal Workflow legal workflow automation Contract Management Workflow contract requests legal requests contract management automation contract automation Vendor Gateway concurrent document management concurrent editing CobbleStone Contract Insight® risk response plan CobbleStone Vendor Management Software
CobbleStone Software Blog Recap for October 2021
Topics: Agreement tracking automated workflow Business Process Automation CLMS Return on Investment Contract Lifecycle Management Contract Management Blog Recap contract tracking Contract Tracking Software digital innovation Contract Management Software Maximize ROI with CLM OCR tracking CLM CLM ROI CLMS contract management training contract management software training contract clauses contract management tools document assembly document assembly solution CLM Software legal workflow automation contract automation CobbleStone Contract Insight® digital transformation legal operations
3 Document Assembly System Tools to Enhance Legal Operations
Document assembly plays a vital role in the contract lifecycle, where document contributors band together to form a cohesive contract document. However - inefficient legal document assembly can stem from unorganized contract templates, obsolete contract language, and subcontracts divorced from related original contract documents. Read on to discover three essential contract management software document assembly tools for enhanced legal operations and contract lifecycle management success.
Topics: Contract Lifecycle Management Contract Management document assembly document assembly solution
5 Benefits of an Automated Contract Life Cycle Process
The contract lifecycle is a great way to categorize the steps of contract administration, from requests to renewals. But how can you embrace legal operations digital transformation to automate the contract life cycle process? Read this blog to find out.
Topics: Agreement tracking compliance Contract Compliance Contract Compliance Software contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software contract tracking Contract Tracking Software Maximize ROI with CLM tracking CLM CLMS CobbleStone Software Integrations contract clauses CLM Software integration
Contract Redlining in the Age of Legal Ops Digital Transformation
Contract redlining can prove to be a tedious process during negotiations. Coordinating with stakeholders during the contract redlining process using siloed processes such as MS Word documents with tracked changes, email communications, and shared drives can further delay contract negotiations. Read on to learn how you can leverage future-minded contract redlining tools that centralize people, processes, and technology in a robust contract management software suite to help automate legal operations for contract lifecycle management success.
Topics: Contract Lifecycle Management Contract Management concurrent editing digital transformation legal operations Contract Redlining
Contract Clauses: Mastering Contract Management Series
Clause management can be challenging for contract, procurement, and legal professionals. Manual contract administration tools such as spreadsheets, emails, and disconnected software tools prove to be less than effective or efficient ways to generate optimal contract documents and clauses - and rarely lead to fast approvals. Contract clauses can support standards and reduce contract risk and, when used to their potential, can positively impact your contract management process. Learn how to master contract clauses in this blog.
The Importance of Contract Management Software Training
If you are a new CobbleStone Contract Insight® user, we understand that learning the contract management software system can be intimidating at the outset. You may be asking yourself, "How will I learn the system?" "How will I remember everything?" "Do I need to do all of this myself?" Well, rest assured, CobbleStone® offers a myriad of training resources to ease concerns you may have! CobbleStone can provide training resources to fit your needs - whether you are a brand-new client, a new user of the system, or simply want to brush up on a few features.
Topics: Contract Software Implementation Contract Software ROI Implementation Maximize ROI with CLM ROI for Contract Management Software CLM ROI Enterprise CLM Implementation contract management training contract management software training contract management roi
Tackling Your Contract Checklist for Better Legal Operations
There are many moving parts involved with a contract, and it can be easy for your organization and counterparties to get mixed up at some point in the process. This is why a contract checklist is an essential part of the commencement of a contract. Your organization can utilize a contract checklist as a contract roadmap. Read this blog for an overview of a contract checklist – as well as what solutions your organization can leverage to navigate that contract checklist successfully.
Topics: agreement database contract authoring Contract Compliance Contract Compliance Software Contract Data Extraction contract database contract drafting contract writing contract writing solution Data Security contract clauses Contract Searching contract automation
CLM Meaning - A Beginner’s Guide To Contract Lifecycle Management
You may have seen or heard the term CLM tossed around in conversations and online. However, perhaps you do not have a comprehensive understanding of what it truly means. Contract management professionals, including general counsel and paralegals, should gain at least some conversance with CLM and how digital contract management software tools can be leveraged for success in contract lifecycle management. Read on to discover an introductory overview of CLM.
Topics: contract life cycle management contract lifecycle software Contract Lifecycle Stages CLM CLM ROI CLM Software
CobbleStone Software Blog Recap for September 2021
Topics: Advance Reporting contract administration system contract authoring Contract Lifecycle Management Contract Management Blog Recap eProcurement Contract Management Software risk management Document Collaboration contract management software training Media Contract Management Entertainment Contract Management CobbleStone Contract Insight® contract obligations
8 Key Contract Management Functions to Automate With CLM Software
Managing contract functions can prove challenging when primarily relying on spreadsheets, shared drives, and other siloed platforms. Without efficient contract functions, organizations can find themselves in a quagmire of inefficiency. Contract management functions require careful planning, the right technology, and a well-thought-out contract strategy. Discover how you can automate eight key contract management functions with contract management software.
Topics: contract life cycle management Contract Management System CLM Software contract management automation contract automation
Supercharge Your Clause Library for Advanced Legal Operations
Clause libraries have proven incredibly useful for advanced legal operations and contract lifecycle management – if appropriately implemented. Unfortunately, your organization can mismanage your clause library with antiquated technology, manual clause tracking and clause storage, and the lack of an expeditious way to leverage clauses during contract authoring and contract negotiation. Luckily, you can supercharge your clause library with user-friendly and robust contract management software. Here's how.
Topics: contract authoring contract negotiation contract repository contract writing contract writing solution contract approval process contract clauses contract generation legal document management software document assembly document management
The Responsibilities of a Contract Management Team
Contract management teams hold a lot of responsibilities throughout the life of a contract. Streamlined and organized contract collaboration is key to CLM success. Without a clear-cut understanding of how the contract process should occur, contract management teams can encounter unnecessary contract risk, contract lifecycle bottlenecks, and decreased revenue. As such, we have outlined the responsibilities of a contract management team and how these responsibilities can be centralized and organized with leading contract management software.
Topics: automated workflow compliance Contract Compliance Contract Compliance Software Contract Lifecycle Contract Lifecycle Management contract lifecycle software Contract Management Solutions Contract Management System contract repository contract workflow Custom Reports reports risk management workflow workflows Contract Management Document Collaboration Contract Reports & Analytics contract risk records management system Contract Management Workflow contract collaboration risk response plan
Contract Compliance Oversight With Contract Management Software
Tracking and retaining contract compliance can be challenging when leveraging primarily manual methods, such as spreadsheet management – especially when tracking multiple contracts with varying compliance standards. Fortunately, contract lifecycle management (CLM) software tools can empower you to achieve contract compliance success. Read on to discover how you can optimize contract compliance oversight with leading contract management software.
Topics: audit trails Contract Compliance Contract Compliance Software Contract Lifecycle Management Contract Management Software Benefits DBE compliance Contract Management Software OFAC COI Tracking HITRUST Compliance
What Is Contract Review?
Contract review is one of the most critical stages in the life of a contract. Unfortunately, many organizations are using obsolete contract management methods. Manual and entirely paper-based contract review methods can lead to missed key dates and deadlines, missed opportunities, costly and damaging contract language oversights, and other harmful consequences and contract lifecycle bottlenecks for your organization. Luckily, this blog post will examine the contract review process – as well as how one can improve contract review with AI-based contract management software.
Topics: automated workflow Business Process Automation contract authoring contract negotiation contract writing VISDOM AI Contract Artificial Intelligence Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management legal workflow automation contract management automation Contract Intelligence concurrent editing
What Does a Contract Manager Do in Construction?
A contract manager in construction is tasked with managing various construction contracts from requests through renewals – which can include sourcing and coordinating with construction vendors for project-based or long-term services. Without a streamlined and organized process, construction contract managers can find themselves overwhelmed. Read on to learn how construction contract management software can centralize people, processes, and technology.
Topics: Contract Lifecycle Management Vendor Management eSourcing software Construction Contract Management CobbleStone Vendor Management Software
Self-Serve Data Migration Services With Contract Management Software
Traditional contract data migration services can afford your organization tremendous headaches – to put it lightly. Hidden expenses regarding aftermarket technology and labor costs, evolving storage requirements, questionable data security, poor data recovery measures, and low scalability involved with locally stored and manually implemented data migration can be detrimental. Leave the tedium, risk, high costs, and wasted resources in the past in favor of web-enabled, self-serve data migration and export with contract management software.
Topics: agreement database Contract Data Discovery and Extraction Contract Data Extraction contract database data data storage Data Security Data center
Efficient Contract Data Extraction With Contract Intelligence
Does your organization have a high volume of contracts of ranging complexity? Do you need these contracts searched, have important contract data extracted, and be stored within an easily accessible contract data repository? Don't leave your team overwhelmed with manual contract data extraction and legal discovery processes. Instead, leverage intelligent contract data extraction with the help of powerful contract intelligence within a leading-edge contract management software system.
Topics: Contract Data Discovery and Extraction Contract Data Extraction data data storage VISDOM AI Contract Artificial Intelligence Data Security Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management data-driven contract management Contract Intelligence
CobbleStone Software Blog Recap for August 2021
Topics: Advance Reporting contract administration system contract authoring Contract Lifecycle Management Contract Management Blog Recap eProcurement Contract Management Software risk management Document Collaboration contract management software training Media Contract Management Entertainment Contract Management CobbleStone Contract Insight® contract obligations
3 IT Contract Management Best Practices To Streamline Your Process
If you work within the IT industry, you may find that the management and oversight of a high volume of IT contracts of ranging complexity can require many moving parts. If your organization is taking on IT contract management with manual contract management methods - such as those involving many filing cabinets, decentralized spreadsheets, and scattered emails - your team runs the risk of facing wasted time, squandered revenue, costly mistakes, and missed opportunities (among other harmful consequences). Leave obsolete and damaging IT contract management methods in the past; tackle the following three IT contract management best practices with centralized and user-friendly contract management software.
Topics: Ad-Hoc Reports Advance Reporting contract life cycle management Contract Lifecycle Contract Lifecycle Management contract lifecycle software Custom Reports Report Designer reports CLM CLMS VISDOM AI Contract Artificial Intelligence Machine Learning Contract Management AI AI-Powered Contract Management Software AI-Based Contract Management CLM Software Contract Searching Contract Intelligence Quick Search
Track HITRUST and More With Leading Vendor Management Software
Managing third-party compliance standards - including HITRUST - can be challenging without a robust and centralized compliance management system in place. Outdated and disorganized compliance management methods can result in leaked data, breaches of contract with detrimental legal consequences, and excessive amounts of lost revenue - among other things. Luckily, integrated vendor management and contract management software can help you easily track HITRUST and other compliance standards in an efficient, organized, and secure manner. Here's how.
Topics: Vendor Contract Management Vendor Management COI Tracking Vendor Gateway CobbleStone Vendor Management Software
How To Optimize Your Management of Vendor Contracts
Managing vendor contracts with manual and disparate processes can prove challenging. Without a centralized electronic process, vendor contract management workflow bottlenecks can undermine productivity. Fortunately, leading-edge contract management software can enhance your vendor management processes by expediting end-to-end vendor management workflow with optimal oversight. Read on to learn how to optimize your vendor contract management processes.
Topics: Contract Tracking Software Vendor Contract Management Vendor Management Contract Artificial Intelligence Contract Management Workflow C bid management OFAC Contract Intelligence Supplier Diversity COI Tracking
The Benefits of a Secure Contract Repository
Successful contract management requires you to embrace a centralized and secure process. Manual contract management methods - such as filing cabinets for paper documentation, spreadsheets, emails, and disorganized digital storage – won’t cut it. These methods make it nearly impossible for your organization to maintain version control, keep contracts and data secure, stay on top of key dates and milestones, and enforce contract archiving and retention rules. Your organization can scrap these outdated methods in favor of something better. As such, here are the benefits of a secure contract repository within leading contract management software.
Topics: contract repository contract security cyber-security secure contracts security CLM security Data Security document management
What Is Contract Management in Procurement?
Procurement departments can encounter procurement workflow inefficiencies without the proper procure-to-pay tools – especially when implementing inefficient and disjointed contract management processes. You can avoid risk, unreasonable vendor pricing, and vendor non-compliance by leveraging contract management processes in procurement that centralize processes, technology, and people. Read on to discover how you can implement effective contract management software in procurement.
Topics: contract authoring Contract Lifecycle Management e-procurement eProcurement eProcurement Planning Contract Management Software procurement procurement and acquisition procurement contracts procurement management procurement process Procurement Software risk management contract risk eProcurement Software CLM Software contract spend
Establishing a More Robust Risk Response Plan
Successful contract management can dramatically increase revenue and organizational growth (among other things)…but unchecked contract risk can be disastrous. Inadequate contract risk prevention measures can cost your organization money and time and result in costly and damaging instances of contract mismanagement - including negligent clause language and less than legitimate business associations. To avoid these deleterious situations and more, your organization must forge and implement an ironclad risk response plan and stick to it. You can get started with your powerful risk response plan with the aid of trusted contract management software.
Topics: Ad-Hoc Reports Advance Reporting automated workflow contract workflow Custom Reports Report Designer reports risk management workflow workflows Contract Reports & Analytics contract risk Contract Management Workflow Contract Searching OFAC risk response plan
