Now, more than ever, organizations expect their employees to do more with less. That’s why contract managers and procurement professionals are choosing to invest in contract management software to keep up with industry standards and capabilities. Surveys report that companies using contract management software can reduce annual contract management expenses by 20% to 50%. In addition to reduced costs, the benefits of contract management software can provide business professionals with better (and faster) results, meaning fewer mistakes, improved accuracy, smoother processes, and better monitoring.
CobbleStone Software has training events just around the corner with two types of training for 2019 already in place. This year’s series, The Road to Contract Management & Procurement Success, is designed to help attendees discover new technological advances for contract management and procurement processes while developing a plan built for success.
CobbleStone offers government agencies and other contract professionals many options for simplifying their contract management process. From requisitions and approvals, to intelligent workflows and online collaboration, CobbleStone provides system users with a streamlined process that can be used for cost-effective contracting, legal compliance, transparency, and more.
Learn from this client success story how a segment of the San Diego Government used CobbleStone’s Contract Insight™ to help overcome common contract management challenges.
New products, regulations, processes, and digital transformation of 2018 brought new challenges, demand, and expectations to the contract management industry. However, despite these changes, CobbleStone continues to lead after 2018 being a record-breaking year filled with many accomplishments including new leading clients, increased revenue, artificial intelligence (AI) and machine learning technology advancements, thought leadership engagements, significant staff growth, data center enhancements, and more.
Contract managers face the challenge of overseeing the contract lifecycle from request to renewal, while struggling to show stakeholders the significance of an often complicated and undervalued process. The goals of reducing risk, increasing productivity, and improving visibility are at the core of effective contract management strategies. However, all too often, the tendency for failure remains high.
CobbleStone Software’s contract management software, Contract Insight™, allows users to complete the source-to-signature process in one simple, configurable system. The final stage in this process, signing the contract, can be streamlined with the use of e-signatures. Contract Insight’s seamless e-signature integration tracks each step in the process. Users can be notified when a contract is ready for signing through automated workflows and real-time status updates.
Looking to increase your knowledge of industry best practices and learn how to overcome contract management challenges? Or better yet, hoping to find the best contract management software for your organization? These 8 contract management conferences will allow you and your colleagues to meet other professionals in your field, collaborate on overcoming process challenges and bottlenecks, and meet with contract management and procurement software thought-leaders to learn about the smart tools and technology that are rapidly changing the way organizations do business and manage contracts.
Contract Management Software can benefit any organization that needs to manage contracts or agreements, but one of the most common objections is the cost. Understandably, budgets are a considerable factor in all business decisions, but low-cost contract management comes at a higher price.
Manually importing and analyzing contracts can be time-consuming, frustrating, and often results in lost documents or other mistakes. Having an expert handle data extraction for your organization can provide better results and a seamlessly organized contract repository. Artificial Intelligence (AI) can detect and prevent predicaments that cause your organization to be at risk. Learn from this real-world case study how a CobbleStone Software client utilized contract data extraction services and text mining smart tools, transforming their contract management process to be supported with data-driven strategy.
The terms "contract management" and "contract lifecycle management" may seem synonymous however, there are clear lines that can make or break the positive impact and value that contracts create. Organizations looking for opportunities to improve processes, profitability, compliance, and security must develop an understanding of the difference between contract management and contract lifecycle management so when the time is right, they can adeptly leverage contracts to achieve organizational goals and reach new heights.