Due to unforeseen challenges caused by the COVID-19 pandemic - and in the interest of CobbleStone's partners', clients', and employees' safety - CobbleStone has postponed its in-person Austin, TX user conference tentatively until late 2021 and will now be hosting a virtual user conference on January 20th and 21st from 1 pm to 5 pm ET on each day.
General Counsel and paralegals face growing contract volume and contract complexity. The lack of an efficient legal contract management process can render obstacles that legal departments encounter nearly impossible to overcome. As such, here's how to utilize legal contract management software for a shortened legal contract lifecycle.
As 2021 quickly approaches, procurement teams must realign their purchasing goals. An ineffectual vendor management and payment processing 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. Use these top 7 procurement tools for 2021 and beyond.
2021 is quickly approaching. As such, city, state, federal, and other public agencies need to ensure that they make the most of their budgets by investing in the most up-to-date software tools for robust, streamlined, and transparent government contract management, purchasing, and sourcing for evolving industry needs. To that end, here are six tools that can be leveraged for user-friendly, timesaving, cost-effective, and powerfully integrated government contract management, sourcing, and purchasing processes.
Managing contracts can be challenging for legal, procurement, and contract management professionals, especially when primarily relying on outdated processes. Managing the contract lifecycle from requests to renewals can prove challenging with spreadsheets, emails, filing cabinets, and other disparate tools and systems. Without accountability, visibility, a clearly defined process, and actionable insights, organizations can find themselves running into compliance issues, not realizing contract value, and encountering other setbacks.
The strength of an organization’s contract lifecycle hinges on a healthy contract strategy. An ironclad contract procedure helps departments within an organization come to a universal adoption of contract processes that improve contract performance. A contract strategy that leverages leading contract management software equips organizations with advanced tools for organized, cost-effective, and efficient contract management. As such, here is how organizations can employ a winning contract strategy for future-minded, AI-based contract management.
Organizations utilizing manual sourcing methods - such as gathering item prices in spreadsheets, corresponding with prospective bidders individually via email, and collecting numerous data separately from prospective suppliers - can face a time-consuming challenge to the sourcing of the most cost-effective and quality items. Without the proper tools, sourcing professionals cannot determine formal bids, RFPs, budget allowances, stock levels, current contracts, and contingencies in purchase order releases. Thankfully, sourcing professionals can utilize the following tools for seamless vendor management and requests to generate long-term sourcing success.
The Financial Accounting Standards Board's – or FASB's – current ruling and guidance on revenue recognition - ASC 606 - may be important from both accounting and legal contract management standpoints. The legislation applies to organizations required to report revenue as per FASB standards, organizations that have earned revenue over time, and organizations that have earned revenue when goods and services are delivered or performed. Discover how leading contract management software – which assists many legal and accounting professionals - can help organizations remain compliant according to the FASB's Accounting Standards Codification (ASC).