4 Ways VISDOM℠ AI Creates Smarter Contracts

By Rosemary Shields on 11/19/18

What is VISDOM℠ AI? 

VISDOM℠ contract artificial intelligence (AI) and machine learning (ML) is an innovative feature of CobbleStone's Contract Insight™ Contract Management Software that simplifies contract administration for legal, risk, and procurement professionals.  VISDOM℠ has 4 main features that will help system users leverage Contract Insight™ for better contract management processes.

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3 User Highlights From CobbleStone Conference 2018

By Rosemary Shields on 11/16/18

CobbleStone Software’s User Conference was on November 7th, 8th, and 9th in Philadelphia, PA.  CobbleStone clients and other attendees enjoyed three days filled with demo sessions, small group Q&As, inspirational guest speakers, and engagement with CobbleStone representatives.  Clients collaborated with other Contract Insight™ users to leverage ideas for optimizing how they use the system.  It was an information-packed experience our clients were able to take back to their team to improve their organization’s contract management strategy.

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Managing Intellectual Property With Contract Insight™ Software

By Mark Nastasi on 11/5/18

Understanding the Challenges of IP

Cobblestone Software is commonly approached by leading companies asking how to better track their creative works, such as patents, trademarks, service marks, copyrights, and other intangible creations, formally referred to as intellectual property (IP).   

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CobbleStone Software Blog Recap for October 2018

By Rosemary Shields on 11/1/18

Did you miss any of our blog posts from October?  Don’t worry, we’ve got you covered.  Make sure you’re up-to-date with industry topics by reading our latest content. 

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Contract Compliance Tracking – an Airline Industry Case

By Mark Nastasi on 10/29/18

A Worldwide, Multibillion-Dollar Company Facing Increasing Contract Complexity

CobbleStone Software was approached by one of the leading airplane manufacturers, referred to as Company B (for confidentiality purposes), to help them better manage their contract compliance.  The worldwide, multi-billion-dollar company has been managing contracts for decades, but their size, number of contracts, and contract complexity called for a modern contract management software solution.

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Managing Vendor Contract Spend – A Government Agency Case

By Mark Nastasi on 10/22/18

Cobblestone Software is commonly approached by leading organizations, and government agencies, in search of a better solution to track contract spend (contract expenditures) in addition to their contracts.  Tracking contract spend makes contract, procurement, and vendor management more complex and requires a process, or software, to do more than just provide basic contract management.

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Prepare for 2019: 3 Useful Tips for Managing Contracts

By Rosemary Shields on 10/15/18

New Year Goals

The new year is hastily approaching, with resolutions swarming the office, and employees thinking about the months ahead.  For contract and procurement managers, there are most likely processes within your organization that you and your team hope to improve.  Whether your focus is compliance, communication, or overall better management processes, 2019 will be here before you know it, so why not be proactive with your new year goals and start preparing now? 

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9 Ways CLM Software Improves Community College Contracts

By Maisie Brooks on 10/9/18

A new school year brings a new wave of contracts, leaving contract administrators and procurement professionals juggling hundreds, or in some cases thousands, of contracts annually. This sheer volume of contracts brings tough challenges for community colleges such as lost contracts, lack of version tracking, and minimal visibility.

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4 Factors Impacting Contract Management Software Purchases

By Maisie Brooks on 10/1/18

Contracts can play a crucial role in running your organization. Contract management expertise alone isn’t enough for organizational success if your team is left wading through spreadsheets and time-consuming, error-prone, manual document management processes.

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CobbleStone Software Blog Recap for September 2018

By Rosemary Shields on 09/28/18

Did you miss any of our blog posts from September?  Don’t worry, we’ve got you covered.  Make sure you’re up-to-date with industry topics by reading our latest content.
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6 Steps for Enterprise CLM Software Implementation Success

By Nash DeVita on 09/24/18

Introducing a new enterprise contract lifecycle management solution can be a painless process or a long and difficult one. Taking steps to prepare for the implementation helps ensure the process is efficient rather than arduous and helps guarantee success. At CobbleStone Software, we've found that the following steps help lead to successful implementation:

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Software License Agreements: Reduce Risk and Take Control

By Mark Nastasi on 09/19/18

Business software plays a critical role in any organization and is the foundation for doing business in today’s economy.  Companies typically rely on leading software products such as e-commerce software, procurement and sourcing management software, customer management software, accounting software, and risk management software, to name a few.

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How Mass eSignatures Boost Healthcare Compliance & Efficiency

By Jessica Troppello on 09/17/18

Within the healthcare industry, keeping documents and files up-to-date is crucial to staying compliant. Healthcare agencies, including the FDA, NHS, and Health Canada, are continually checking up on hospitals, physician’s offices, and other healthcare facilities to ensure healthcare professionals, administrators, and providers are keeping up with legal requirements.

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How Business Process Automation Will Improve Your Workplace

By Rosemary Shields on 09/4/18

How Business Process Automation is Being Used Today

Many workplace processes are repetitive and time-consuming, leaving employees minimal time to focus on improving their organization.  It has been found that 12% of a company’s total annual costs may be used for administrative tasks and contract management.  These expenses can be eliminated by implementing technology-enabled automation, also known as Business Process Automation (BPA), that will significantly improve workplace processes.  By 2021, companies are estimated to be spending $12.7 billion on these solutions, leaving those relying on traditional methods to plummet.  By investing in BPA, your business can begin focusing on the research, strategy, and development that will position your business as a leader in any industry.

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CobbleStone Software Blog Recap for August 2018

By Maisie Brooks on 08/31/18

Contract Management is evolving daily through digital transformation, industry demands, and regulatory updates.  Stay in-the-know with this month's Contract Management blog recap for August 2018.
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Back from the Beach: Close More Sales in Q4 with Sell-Side Contract Management

By Maria Votlucka on 08/27/18

Summer is coming to an end. You’ve experienced just enough rest, relaxation, sun, and sand to help you clear your head and get you inspired to return to the office refreshed and refocused for Q4.

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The #1 Reason Contract Lifecycle Management Fails

By Maisie Brooks on 08/20/18

Many organizations understand the potential value, positive impact, and negative impact of their contracts. They reach a point where they’re committed to creating a strategic contract lifecycle management process that’s supported with the right contract software, tools, and people.

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4 Signs It's Time to Walk Away from Your Contract Management Software

By Jessica Troppello on 08/13/18

Did We Choose the Wrong Contract Management Software Provider?

Your organization invested in contract management software to effectively manage the contract lifecycle with less overwhelm, more automation, more visibility, and more predictability.  But what if the lackluster results you’re experiencing aren't worth the time and money you put into the implementation?

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Contract Analytics and Reporting Mastery: 3 Critical Reports

By Maisie Brooks on 08/6/18

How can Contract Analytics and Reports Improve Your Contract Management Strategy? 

The key to successfully managing contracts is leveraging contract management software to increase visibility, reduce risk, reveal opportunities, and build strong relationships with counterparties and vendors. Contract analytics supports this initiative.

The challenge is that implementing contract technology to draft, negotiate, approve, sign, and store contracts is not enough. The “it” factor in contract management is contract analytics with reports that are easily accessible and user-friendly, while providing the right data at the right time to the right people.

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6 Ways to Maximize Procurement Productivity with a Contract Database

By Bradford Jones on 07/31/18

Although an essential facet of running a business, managing contracts without a contract database can be a time-consuming headache. With so many different contracts with vendors and service companies, it can be challenging to keep track of them all without reliable contract software. The right solution can help you reduce the amount of time you spend searching through spreadsheets or shared drives so that you can work on growing your business. Here are just a few of the ways that a formal contract database can help your team maximize productivity:

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5 Ways Better Contract Management Improves DBE Vendor Tracking

By Jamie Reedy on 07/30/18

DBE supplier tracking becomes easier when the right tools are in place.

Whether you’re a local municipality, city, state, or federal agency, chances are you have a goal defined for awarding contracts to disadvantaged business enterprises (DBE). Government agencies operate on “good faith” that they will make the conscious effort to consider these businesses when awarding new contracts. The problem, like managing any other contract, is the work involved to ensure that all criteria is being met and certifications are processed.

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3 Ways Electronic Signatures Improve Contract Management

By Maisie Brooks on 07/17/18

Electronic signatures are not new to contract management, but you may be skeptical of the validity compared to a wet signature. Rest-assured, electronic signatures are just as binding as hand written signatures with the same legal clout. If you're stressed about contract deadlines and signature delays negatively impacting negotiations and your ability to close more deals, read on to find out how e-signatures can help your organization.

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Closing the Communication Gap & Improving Contract Management

By Jamie Reedy on 07/2/18

Why Communication can Make or Break a Successful Acquisition and Improve Contract Management

Improving Contract Management is not an easy process. There are numerous steps that are involved with the acquisition process. From identifying the initial needs, all the way down to monitoring performance once a contract has been awarded will require multiple people – sometimes from different departments – to get involved. If too many people are contributing to the acquisition process, but aren’t making the effort to communicate with one another internally then the process can be unsuccessful from the start. This creates a communication gap. Not only is effective communication imperative to a successful acquisition process and improving contract management, but an open dialogue with the industry and potential vendors is too.

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It's Here! 2018 CobbleStone Conference

By Jamie Reedy on 06/20/18

 CobbleStone is proud to announce that the 2018 CobbleStone Conference is happening this November 7th-9th in Philadelphia! With contract AI, machine learning, risk migration, and more, this conference is set to be our best one yet.

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GDPR and Keeping Contracts Compliant

By Jamie Reedy on 06/15/18

The EU's new data protection laws took effect May 25, 2018. Make sure your organization is aware of the potential impact, including hefty fines, and ensures GDPR contract compliance.

If it seems there has been a flurry of privacy updates and more talk around GDPR contract compliance, it’s for good reason. GDPR (General Data Protection Regulation) has actually been around since 2016, replacing the old data privacy laws that have found themselves outdated. Once it was recognized, it became mandatory that all companies ensure that they are fully compliant and meeting standards within two years. From May 25th of this year on, the rules and regulations set forth by the GDPR law are being followed accordingly.

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Understanding How Sarbanes-Oxley Influences Contract Management

By Maisie Brooks on 06/4/18

 

What is Sarbanes-Oxley?

The Sarbanes-Oxley Act (SOX) was an act that was passed in 2002 by the United States Congress to help protect investors from the likelihood of fraudulent accounting activities that were being done by different corporations. News had spread that corporate officials were filing misleading information about their financial statements and handing them over to their accounting firms after the well-known scandals. The firms that they were handing them over to were firms that they had a tight-knit relationship with and knew they would do them some favors. SOX was implemented to help standardize the accounting and contract management professions and turn bad back into good.

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How to Manage Contract Compliance with CobbleStone Software

By Connie Egan on 05/29/18

(This post was originally published April 24, 2017. Updated May 29, 2018)

Tackling Your Biggest Contract Compliance Problems, all in one Software Solution.

Managing contract compliance can be tough. It becomes even more difficult when important terms and clauses are buried deep within a contract. Times that by the thousands of contracts a company will manage and you can find yourself more frustrated than ever. Missing compliance can cost an organization much more than hefty fees and fines. Reputations could tarnish and deals could go down the drain. Your organization could be playing catch up for a while. Being able to meet compliance becomes a top priority. It becomes easier with the right contract management software in place.

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Digital Innovation in the Procurement Process

By Jamie Reedy on 05/22/18

There’s a lot of buzz when it comes to digital innovation in just about any part of an organization. When it comes down to it, what exactly does that entail?

It is very rare when an organization is so on point that others use them as a standard (we’re looking at you, Amazon). The ability to have most, or all, of your business processes fine-tuned and in sync is something that most organizations are often trying to accomplish. These types of changes could take years before they truly take effect. Unfortunately, business happens quick and organizations can’t afford to wait that long. Many areas of the organization including marketing, sales, and service departments have already eradicated outdated ways of operating.

The topic of digital innovation in the procurement process, however, seems to be the one area that tends to get overlooked. Why?
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You Asked, We Delivered - Software Version 17.2 is Here!

By Jamie Reedy on 05/15/18

CobbleStone announces its newest release of our leading contract management software, Version 17.2. Building upon the success of Version 17, we have included new features throughout multiple modules in the system, along with improving overall capabilities and improving usability. Additionally, clients have the option to update select user accounts without compromising the settings of other user systems.

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6 Tips to Improve Your e-Procurement and Acquisition Process

By Connie Egan on 05/8/18

(This blog was originally posted April 7, 2017. Updated April 30, 2018)

Procurement managers have their work cut out for them. Being responsible for making sure their organization gets the right product or service at the best price is a process. Trying to manage both e-procurement and acquisition duties can be quite stressful at times. For the procurement and acquisition process to proceed with minimal hiccups along the way, managers should evaluate whether or not their current methods are working. Should they find something isn't working right, this shouldn't be cause for alarm - finding the problem is the first step to fixing it. 

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Effectively Managing Tail Spend

By Jamie Reedy on 05/1/18

Effectively managing tail spend now can save your organization headaches in the long run.

What is Tail Spend?

In an organization where there are outlined procurement procedures, roughly 80% of that organization’s total spend will be strategically managed through those guidelines. Those purchases are usually lead by an experienced purchasing professional who will thoroughly vet the potential vendors. They will ensure that the purchase is in compliance with company and industry guidelines, and, once work is awarded, the purchasing professional will continue to audit that relationship. They will make sure that the terms are being met as agreed upon and will continue to rate the vendors work to justify renewing the contract.

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Achieving Maximum ROI with Contract Management Software

By Jamie Reedy on 04/16/18

Feel Confident About Managing Your Contracts the Right way.

When purchasing anything new for your organization, you want to feel confident that you’re making the right choice. An informed buyer is a satisfied buyer because you’re confident you did your homework. This is especially important when you’re looking to overhaul some of your current processes and implement a new way of doing things. It can be overwhelming, and when it comes to redesigning your contract management process, it can be downright scary.

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The 8 Stages of the Contract Lifecycle

By Jamie Reedy on 04/10/18

By understanding all the stages of the contract lifecycle, you can ensure that each stage runs as smoothly as possible.

No matter how long a contract is active for, it will undergo many contract stages to ensure that all parties are in unison and that the service agreed upon is delivered.  Contracts are legally binding and need to be executed appropriately.  When you understand the stages in the lifecycle you can feel more informed and prepared when it comes to managing the contract.  While the exact stages may vary for your organization, we’ve broken down the 8 common stages of the contract lifecycle:

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5 Must Have Software Features to Improve Contract Management

By Jamie Reedy on 04/3/18

Choosing the right software with the right features can make all the difference. 

Managing contracts is something that almost all industries do daily. A single company can have contracts in place for a variety of reasons which could include facilities, personnel, clients, the real estate they operate in, and so much more. Whatever the case may be, these contracts have their own stages and lifecycles that are important to stay aware of through their duration of activity.

It’s hard to imagine, with today’s advances in technology, that there was a time where manual contract management was the standard process at most organizations.  Hard copies were stored in filing cabinets and some contract administrator or designated personnel had to make a conscious effort to check in on these records and ensure things were running smoothly.

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CobbleStone Software Releases New Contract Management Solution Mobile App for Android & iOS

By Connie Egan on 02/7/18

CobbleStone is proud to announce the release of its new mobile Contract Management Software App for Android and Apple iOS devices. CobbleStone’s mobile app allows users to track key dates, automate workflow tasks, search, build reports, send documents for signature, and much more. In designing an application to complement our contract lifecycle management software, we knew we had to create something equally as robust and feature rich.

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CobbleStone Gives Back! Looking Back at 2017

By Jamie Reedy on 02/1/18

(Pictured clockwise above: recipients of an EnviroOne well as donated by CSS, residents of well location, and CSS team volunteering at Cathedral Kitchen)

The founders of CobbleStone believe in valuing that all people are equal. Equipped with this mindset, it has been instilled in company culture to get involved, give back, and look for ways to continue the philanthropic work that the company has been participating in for years.

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Reduce Contractual Risk Through Contract Management

By Bradford Jones on 01/4/18

Legal contracts are the foundation for companies of every size in every industry, with your business being no exception. Contracts are the written handshake that solidifies your relationship and outlines the promises that both parties have made to each other. Once that contract is in place it’s important to your business and its bottom line that you continue to monitor your contracts to ensure the parties involved are living up to their best practices and standards.

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How Contract Management Software can Benefit Your Small Business

By Connie Egan on 12/15/17

Running a small business is hard work. It can be taxing on your mental health when it feels like the weight of the entire operation falls squarely on your shoulders. When tasks are in large supply, but staff, resources, and bank accounts are limited, the stress of owning your own small business can seem overwhelming.

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How to Manage an Underperforming Contract

By Connie Egan on 11/21/17

Contract management software from CobbleStone Software can go a long way towards cutting down the amount of underperforming contracts you have to deal with on a regular basis. When you deal with a large volume of contacts every day, there will always be one or two that just aren’t cutting it. Underperforming contracts can impact profits if not dealt with appropriately, so here are four tips you can use to handle a contract that isn't performing properly.

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4 Important Performance Metrics for Contract Management

By Bradford Jones on 11/17/17

When managing contracts, performance monitoring is one of the most important ways to ensure your success. With a large variety of contracts, all with different terms, it can be difficult to know what exactly to look for when assessing each contract’s performance. Luckily, you can boil down the success of each contract, no matter the complexity, to four metrics.

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The Benefits of Contract Management Software – Pt. 2

By Connie Egan on 11/13/17

In our last post, we discussed two amazing benefits to switching to contract management software with CobbleStone. Manual contract management is a thing of the past. It adds unnecessary complications to your process and might even result in a loss of profits for your company. Here are three more benefits you will enjoy when you use our software to manage contracts:

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The Benefits of Contract Management Software – Pt. 1

By Connie Egan on 11/2/17

Negotiating contracts can be a difficult process. Once you have determined the ideal parameters, you will want to make sure that you get the most out of the contract. With contract management solutions from CobbleStone, you can easily manage all of your contracts. Here are just two of the many benefits of our contract management software:

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Contract Management Software for Higher Education

By Bradford Jones on 10/12/17

Colleges and universities draft, negotiate, and approve a myriad of contracts with vendors, partners, suppliers, and employees every year. Actively managing contracts and maintaining formal relationships with these sources can be difficult and time-consuming for many universities who don’t have a system in place to manage contracts.

Businesses and professionals of all industries have utilized contract management software to help store and manage contracts, and add order and efficiency. The cloud-based program helps store, organize, and maintain contracts and agreements between all parties.

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A Contract Management Solution for the Government Sector

By Devon Chandler on 09/15/17

This post was originally published 9/15/17. Updated 6/5/18.

Government contract management involves forming strategic business alliances with trusted governmental agencies and other private-sector contractors who can provide goods and other services to them. Government agencies regularly track, review, and approve a multitude of different contracts each fiscal year. Many of these agreements are quite complex in nature, and often require a rigorous set of policies to guarantee their obligations and deadlines are being met. Establishing and sustaining formal business relationships with vendors, suppliers, and other providers can become problematic for many agencies without the proper contract management tools.

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CobbleStone Introduces Enhanced Design and Improved Features in Contract Insight™ Version 17

By Connie Egan on 08/23/17

CobbleStone Software is happy to announce a new user interface update to Contract Insight™ Enterprise Software with Version 17 of the industry leading solution. The update will provide our clients with a more modern and configurable design that allows users to have more flexibility in creating the perfect look and feel for their organization within the system. The update gives our users an opportunity, if they wish, to change the design so they are no longer confined by the standard look that is default out-of-the-box.

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Implement Contract Software Like A Pro

By Connie Egan on 07/27/17

Deploying and implementing a contract software system can be a challenge for any organization. You’ve completed your search for the best system, saw demonstrations, negotiated the best price, and decided on a solution. Now it is time to implement the system. Here at CobbleStone, we focus on relieving the stress of implementing your new contract management system by creating a plan and training schedule with the help of our training specialists.

Although CobbleStone is known to offer the most user-friendly CLM solution in the market, if it is your first time using contract software, we will guide you through the setup process. Throughout the years, we have walked countless users through Contract Insight to help them effectively manage their organizations’ contracts. With a little help and a little planning, you can be on your way to an automated, streamlined contracting environment.

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How to Gain Efficiencies with Contract Insight’s Purchase Orders

By Connie Egan on 07/18/17

Have a pile of purchase orders sitting on your desk or scattered through multiple spread sheets? Drop the hassle with a purchase order module in your contract management software. As technology continues to advance, more processes are moving towards electronic versions rather than paper-based. Using the purchase order module in Contract Insight makes the PO process more efficient for your organization.

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Ad-Hoc and Custom Report Designer in Contract Insight™

By Connie Egan on 06/30/17

Find yourself searching for the same information over and over again in your contract management software? Consider creating a report, also known as a saved search, in your contract management system. Creating ad-hoc and custom reports is something we touch on often with our clients here at CobbleStone. Ad-Hoc and Custom Reports are tools that can save an organization time for common searches they do within the system.

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Choosing the Best Edition of Contract Insight™ for Your Organization

By Connie Egan on 06/9/17

CobbleStone Software's Contract Insight™ is a contract management software designed to help legal, sales, risk, compliance and procurement professionals manage contracts easier. From the beginning, we have strived to create a product flexible enough to meet the needs of multiple industries and organizations. Today, we continue to be a leader in the industry.

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Four Benefits of Automated Workflow in a Contract Management System

By Connie Egan on 05/26/17

Creating a contract is not typically a cut and dry process. A contract may have to complete many internal processes before completion. These processes can be based on contract status, budget, and type to trigger a workflow in a contract management system. Without automated workflows, processes can be time consuming and mistakes can be made. Forget having to manually drop off a contract or make sure it is attached to an email, automated workflows are here to do that for you.

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The Benefits of CobbleStone’s Contract Insight eSign Options

By Connie Egan on 05/12/17

Electronic signature (Esignature) is not a new concept in business practice. In fact, telegraph signatures were once legally acceptable. Times have changed, of course. Even the traditional wet signature seems to be a thing of the past for many companies. In mid-2000, eSignature was ruled by Congress to ensure the same legal standing as a traditional handwritten signature. ESign even has its own national holiday, June 30th, if you plan to mark it on your calendar.

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Three Advantages of an OCR Tool for Contract Management

By Connie Egan on 03/30/17

When reading magazines, advertisements, or even this blog post our brain begins the process of recognizing the patterns that make up the characters.  Our computer is able to do the exact same thing. Image-based documents can be converted into a language the computer understands for it to be able to read the document we need it to. This is where the Optical Character Recognition (OCR) tool comes into play. An OCR tool should be simple to use within a business software system that, in the long run, can save a company time.

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FOIA Requests Made Simple with Contract Public Access Portal

By Connie Egan on 03/10/17

This post was originally published 3/10/17. Updated 6/5/18.

Since 1967, the Freedom of Information Act (FOIA) has been providing the public with the right to request access to contract records and data from any Federal Agency. At the end of the 1950’s, the press and the public were consistently being denied information they sought out. The act was eleven years in the making after countless arguments on whether it was even necessary to begin with. After reluctance from President Lyndon B. Johnson, the Freedom of Information Act was signed into action and FOIA requests became a right for every citizen.

FOIA does not mean that all information requested is approved. All organizations, including public agencies such as cities, counties, municipalities, and state colleges and universities, who fall under the act have the right not to disclose information with good reason, such as if it falls under the nine exemptions. Particular information that is protected consists of any information regarding national security, law enforcement, and personal privacy.

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Flexible User Permissions Strategies in Contract Management Software

By Connie Egan on 02/24/17

Not every contract is meant to be viewed by every set of eyeballs in an organization. Organizational controls must be defined to determine if all contract management software users should be able to have free reign over the system or if permissions should be established within the application. Most contract data stored in a CLM system is confidential to specific departments and should only be viewed by certain users. Converting to digital contracts means no more locking important data in a file cabinet in an associate’s office.

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How Does Contract Management Software Help Organizations Save Money and Improve Efficiency?

By Bradford Jones on 02/8/17

No matter the industry your organization is in, contracts are a major component of daily operations. Contracts are created for business partnerships, labor, vendor transactions, customers, and more.  Restaurant owners hire vendors for various produce and animal products. Human resources personnel create contracts when they hire employees and when there are changes to the employee handbook. Educators create contracts when enlisting the services or products of vendors.

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Maintain Security and Experience Other Benefits When You use Contract Management Software

By Bradford Jones on 01/23/17

Contracts are a part of doing business. Whether we're referring to a contract with a supplier, an employee, or a business partner, every single contract must be created, recorded, and stored. Before automated contract management software became a viable option, businesses, education institutions, and other organizations had to rely on filing cabinets and other means to store these contracts.

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What Core Features Should You Look for in a Contract Management Software System?

By Bradford Jones on 12/8/16

Contract management software is a must for many different industries. Before the development of contract management software systems, everything was done manually. This obviously had its drawbacks. Contract managers would be forced to store every contract into filing cabinets. Now, if there were just a few contracts this may have not been a major deal. However, most organizations deal with thousands of various contracts, making manual recordkeeping extremely difficult. Keeping all of these contracts in filing cabinets or boxes increased the chance of a lost file and, at best, reduced productivity as employees have to take the time to locate the contracts they need.

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How and why did Contract Management Software Arise?

By CobbleStone Systems on 11/10/16

Written by Chris Bejsiuk, Marketing/Sales at CobbleStone Software.

Do you remember the days when there wasn’t sufficient technology to make our jobs easier?

Everything on paper.  Office floors filled entirely of documents because people ran out of space - that is something I have actually seen with my own eyes.  Messy offices tend to lead to misplaced documents, which could lead to dire consequences like, say, lawsuits.

So when did a solution for all of this arise?

In 1995, CobbleStone Software was created, and came up with the answers.

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Benefits of Cloud-Based Contract Management

By CobbleStone Systems on 10/27/16

Cloud-Based Contract Management benefits your company the most when talking about contracts.

Why?  It is the simplest and most secure way to share data and information with one another.

This is the age of technology, and there is no choice but to go along with it. What’s the saying, “if you can’t beat ‘em, join ‘em”?

Contract Insight™ offers the simplicity every company needs.

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Lost Contracts? Not Anymore!

By CobbleStone Systems on 10/13/16

Demolishing filing cabinets, ripping out drawers, rummaging through mountains of papers, and scanning your calendars for expiration dates - I’m sure you’ve managed to lose important documents because there was no organization. It has probably caused you a great deal of stress.

Imagine all of your contracts being stored in a singular place – with no problems.

With Contract Insight™ Contract Management Software, this is what you are given.

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Will Authoring Contracts From Templates Benefit Your Team?

By Dylan Bari on 06/8/16

Contract writing and authoring can be the easiest or most complex step of thecontract lifecycle management process. Whether the contract is going to contain a minimal amount of information, or if it is going to contain hundreds of different terms and clauses; writing all of these contracts can be a daunting and time-consuming process. Because of this issue, select providers of contract management software have a solution. By using contract templates, your authorized users can easily author a new contract by using rules-based text and clauses. This feature is beneficial in many ways, but a few of the key benefits can be outlined in more detail below.

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Benefits of a Software Suite with Full Procurement and Contract Lifecycle Management

By George Miller on 05/5/16

Organizations across every industry are responsible for tracking, managing, and storing their contracts and agreements with vendors, clients, and partners.  For many companies with contracts and committals with vendors, tracking the sourcing of those agreements is essential.  Whether agreements with vendors are reached with simple or complicated procurement processes; a software suite with full procurement and contract lifecycle management can be enormously beneficial to any organization.

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SaaS vs. Locally Deployed: Which CLM Option is Right for Your Business?

By Dylan Bari on 04/7/16

You’re in need of contract lifecycle management software. You’ve found a product that is a good fit for your organization. However, some of these products are offered as a SaaS deployment, some products are offered as a local deployment, and some products can be offered as both a SaaS or local deployment option; and you are unsure which option is the most beneficial for your business. Do not worry. Your questions, concerns and uncertainties about which deployment option is right for your business will be answered in the reading that follows. Before you make a decision, the benefits of both the SaaS and locally deployed option should be outlined.

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Are Contract eSignatures Legal? Will eSignatures Hold up in Court?

By George Miller on 03/11/16

Electronic signatures are a must to streamline your contract management process.  They allow organizations to create efficiencies that expedite preexisting processes and reduce financial costs.  However, there are still individuals and organizations that question whether or not contract electronic signatures are legal and whether eSignatures will hold up in court.  The question is valid; potential litigation is a serious threat to any organization.  Judicial decisions and legal precedent in the United States have left very little ambiguity on whether or not contract electronic signatures are equivalent to handwritten signatures.  Organizations that use eSignatures should take comfort knowing that the courts have been on their side since 1869.

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Contract Management Software: Why Colleges and Universities Need it

By Dylan Bari on 02/25/16

Institutions of higher education use contracts for many purposes; whether ensuring the delivery of products and services, or fulfilling student, public, or organizational objectives, colleges and universities have a variety of instances where contracts must be utilized. Accordingly, with the overwhelming amount of contracts that these institutions use, it would be beneficial and more efficient for the institution to use contract management software. The benefits of using contract management software are abundant in higher education, but a few key benefits can be highlighted below.

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Increase Revenues with Sales Contract Management Software

By George Miller on 01/25/16

Revenue generation is the front line for all for-profit organizations.  The less efficient an organization’s sales team is, the less customers an organization will acquire; the less customers, the less revenue.  Most companies have goals oriented around maximizing revenue.  In order to maximize revenue, companies need to maximize their customer or client acquisitions.  The best way to help reach those goals is to have the most efficient sales team possible.  Contract Management Software can make any organization’s sales team more productive and more profitable by leveraging these tools:

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Contract Management Software: A Paralegal’s Dream Come True

By George Miller on 01/11/16

Paralegals are key resources for lawyers, law offices, corporations, government agencies, and many other organizations.  As a paralegal, you may typically be tasked with storing the documents related to corporate matters, tracking key dates, reaching out to business owners for next steps, and more.  Managing those responsibilities is crucial to both your personal, and your organization’s, success.  Contract Lifecycle Management (CLM) Software is a tool that can be used by paralegals to make your job easier, you more efficient, and you more effective.

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Pharmaceutical Contract Management: Sunshine Act Compliance

By George Miller on 12/29/15

The Physician Payments Sunshine Act was passed by the United States in 2010 in an effort to increase the transparency of the fiscal relationships of drug manufacturers, medical device producers, and biological and medical supplies companies with health care providers.  The institution of the Sunshine Act demanded pharmaceutical organizations with relationships to Medicare, Medicaid, and the State Children’s Health Insurance Program (SCHIP) to collect and track data relating to their agreements with entities such as physicians and teaching hospitals. 

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Enhance Your Organization’s Procurement Procedures with Contract Management Software

By George Miller on 12/15/15

Procurement processes are crucial to the overall success of an organization. Sourcing goods and services effectively can have a noticeable positive impact on a company’s bottom line. Contract management software can enhance an organization’s procedures by allowing for internal contract visibility, managing rules-based contract requests and requisitions, and ensuring the tracking of vendor performance ratings.

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The Importance of Streamlining Freedom of Information Act (FOIA) Requests

By George Miller on 12/2/15

The Freedom of Information Act (FOIA) is great if you don’t work in government and believe that, as a citizen, you should be entitled to knowledge of your government’s actions.  On the other hand, if you are a government contract administrator, complying with FOIA can be a time consuming process.  Especially if you are responsible for tracking the seemingly never ending supply of public records or determining if a contract record is, or is not, exempt to FOIA. 

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Build or Buy Healthcare Contract Management Software

By George Miller on 11/12/15

The decision to “build or buy” contract management software in the healthcare industry is a huge step in the process towards greater organizational efficiency.  Decision makers for hospitals, medical centers, and health plans must make this choice for a wide variety of software types including but not limited to: contract management software, billing and invoicing software, customer relationship management software, human resources software, or identity management software. 

Regardless of what system you’re looking to implement, it is important to recognize the advantages and disadvantages of a home-grown versus a commercial solution.

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3 Advantages of Utilizing Automated Contract Management Workflow Tools

By Michael Donnelly on 10/26/15

In the business world, every professional is aware of what “workflow” is. Contract approval workflow, from the outside looking in, is just a giant chart of approvals and signatures that makes us all wonder, “Is all of this really necessary?” Of course, workflows are essential to keeping the buoyancy in every organization around the world. Processes must be followed in order to keep consistent, optimal production levels.

If this maze of people and tasks is so important, why would any organization want to count on their employees following the processes in such a hectic manner? The majority of organizations would think that is just another day at the office. Organizations ahead of the game using an automated workflow tool would wince at the idea of going back to such an obsolete process.

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Contract Compliance Monitoring with Contract Insight Contract Management Software: Leveraging Preventative and Detective Contract Controls

By CobbleStone Systems on 10/19/15

Oftentimes, large companies in highly-regulated industries such as healthcare organizations and public (government) agencies have strict guidelines that they are obligated to follow in order to monitor their contracts for compliance. Some of these include:

  1. review and approvals prior to each party signing the contract
  2. periodic reviews after signing the contract (such as a 30, 60 ,90 day)
  3. contract review for contracts over a specified value (budget review)
  4. review for contracts in specified departments
  5. review for contracts in specified services
  6. reviews prior to contract end
  7. reviews after contract expiration and/or termination (such as contract close out)

How can we make it easier for contract professionals, such as corporate attorneys, paralegals, contract administrators, controllers, and managers (and the like) to assert that they have the appropriate contract review processes in place that comply with state, federal, corporate, and other regulations?

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Why E-Signatures are a Must to Streamline Your Contract Management Process

By George Miller on 09/30/15

Electronic signatures have been legally equivalent to handwritten signatures since Congress passed the ESIGN (Electronic Signatures in Global and National Commerce) Act in 2000.  With advances in encryption technologies, and the growing prevalence of the electronic marketplace, e-signatures are safer and more convenient than ever. 

The cynics of the past focused the argument around what electronic signatures were missing to be as acceptable as traditional signatures.  The debate has shifted to what efficiencies your organization is missing by not utilizing electronic signatures.

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Ensuring the Cyber-Security of Your Business

By Samantha Smith on 08/13/15

Cyber-security has become a huge concern for businesses today.  More and more organizations are falling victim to cyber-attacks due to improper handling and storage of sensitive data as well as lower security precautions. Our modern dependence on the convenience and connectedness that technology allows has made organizations more vulnerable to security risks. These threats have become so widespread that President Obama issued an executive order earlier this year mandating stricter cyber-security regulations and imposing stricter sanctions on organizations that engage in cyber-attacks that threaten national security and infrastructure.

What does this mean for your organization? Businesses are keepers of sensitive and valuable information, and it is our responsibility to properly protect that information from cyber-attacks. Here are a few tips to help protect your organization from possible threats.

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Achieving Maximum Return on Investment (ROI) with Contract Management Software

By Patrick Tiedeken on 05/29/15

No matter what industry you operate in, no matter what the economic landscape is, and no matter where you do business, ROI is critical. Contract lifecycle management software helps organizations across the world see a real return on investment. It really is a beautiful thing- leveraging technology to help manage your organization at a lower cost.

How does a CLM product provide return on investment? The following acts as an incomplete list that shows the real ROI possibilities when choosing an industry leading contract management software solution:

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Fiduciary Control of Your Contracts with Contract Insight™ Contract Management Software

By CobbleStone Systems on 05/14/15

A fiduciary duty is a legal, financial, ethical, or monetary trust between two or more parties. Typically, a fiduciary prudently takes care of money for another party, or person, and most times involves a contract or agreement between the parties.  Many parties enter into a contract, and the contract may contain fiduciary or financial responsibilities between the parties. But after the contracts are signed, many ask 'who is monitoring your organization's contract for contract budget amounts, actual spend, expected cost and, if any, amount remaining?' How can all of this be tracked easily?

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Contract Insight™ Contract Management Software

By Bradford Jones on 05/8/14

About CobbleStone Software

CobbleStone Software is a leading provider of advanced contract lifecycle management software and complimentary solutions to customers spanning the globe. Contract management software solutions are our specialty.  We launched the first commercial off-the-shelf contract software in 1995 and have kept improving our leading solutions.  

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