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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