Vendor risk management can be daunting for risk management professionals and financial contract management teams. In many cases, the process of sourcing a suitable vendor or partner is hard enough on its own. However, a risk or vendor management professional must also understand a business's requirements and solicit vendors, contractors, and other partners to engage in business with to ensure they are qualified. Add to the mix the financial responsibility of ensuring compliance under OFAC, or the Office of Foreign Assets Control, from the United States Treasury Department. Clearly, the duties of reviewing the vendor onboarding process, agreement terms, and clauses can be a time-consuming set of tasks. Leading contract management software, however, can streamline these processes with seamless OFAC search integration. Read this blog by CobbleStone's Founder and Executive VP, Mark Nastasi, to learn how.
Is your current vendor COI tracking (certificate of insurance tracking) process time-consuming? Ununified? Tedious? Error-prone? Well, you can leave tiresome and detrimental COI tracking methods in the past by leveraging leading vendor management software to easily track and manage vendor data and vendor contract data on a centralized, user-friendly, and organized platform. Read on to learn how.
Why do you trust your software provider? Is there any specific criteria by which you measure a software system’s trustworthiness in protecting sensitive and confidential data such as PCI (payment card information), PII (personally identifiable information), employee information, client details, vendor data, and vital contract data? With increased risk of data and security breaches, especially during such uncertain times as these, you should be confident that your information is stored on a trusted platform. Read on to learn how to use such a trusted platform, along with the importance of SOC compliance.
Organizations of all sizes face the need to juggle multiple contracts at a time, with each contract being at a different stage of the contract lifecycle. Leading contract lifecycle management software is crucial in reducing risk, improving productivity, and maximizing a contract’s value.
CobbleStone Software's newest release – Contract Insight® Enterprise Version 17.7.1 – has arrived, bringing forth new features and enhancements to improve your contract management software suite!
Purchasing teams can find it challenging to maintain clear communication and manage purchase orders using primarily disparate and manual processes – such as paper-based filing systems, phone calls, emails, and spreadsheets. Without a streamlined electronic process with end-to-end purchase order management oversight, purchasing strategies can be challenged by unnecessary workflow bottlenecks that can undermine productivity and frustrate purchasing teams. Thankfully, leading purchase order management software can streamline the purchasing process, expedite and improve purchase order workflow, and offer full asset lifecycle management with holistic oversight.
Manual healthcare contract management processes can increase cost and liability, leak and decrease revenue, and bring about negative patient and personnel experiences. Outdated strategies can prevent a seamless contract lifecycle, compliance, the best use of time and resources, unified and secured documents, efficiently and accurately entered data, and the management of contracts of varying value and complexity. Luckily, future-minded contract lifecycle management software can help. Here’s how.