Contract Insights

Did you miss any of our blog posts from August?  Don't worry; we have outlined each of them for you.  Stay up-to-date with industry topics, real-world case studies, and contract management software and procurement best practices in September by reading the latest CobbleStone® content.

Business relationships power various industries within the public and private sectors. At the crux of virtually every business relationship is a contract. Contracts serve to cement the obligations, duties, and expectations of two or more engaged business parties.

But what are contracts really? How do they work on a fundamental level?

Let’s explore six key elements of a contract that are widely applicable to almost every business relationship – and why they matter for effective contract management.

Contract drafting is essential in helping capture the purpose of a contract in written form. Haphazard drafting of a contract can result in pushing outdated contract versions to collaboration and negotiation. Additionally, the lack of a centralized and informed process can result in incorrect language being introduced into the review process. Unfavorable terms, missed obligations, and legal disputes can follow.

To help you avoid these consequences and more, here are five practical contract drafting tips for more effective contract management.

CobbleStone Software is proud to introduce the CobbleStone University Certification Program (CUCP)! The program will strengthen and verify our Partner Network’s expertise in CobbleStone Contract Insight^® Enterprise. The program is comprised of a series of live training sessions and videos with accompanying documentation, and culminates in assessments to earn your certification. Read on to learn more!

Did you miss any of our blog posts from July?  Don't worry; we have outlined each of them for you.  Stay up-to-date with industry topics, real-world case studies, and contract management software and procurement best practices in August by reading the latest CobbleStone® content.

Contract compliance is crucial for the success of a contract – and sets the stage for contract renewals. Unfortunately, many organizations are (sometimes unwittingly) exposing themselves to financial risk, breaches of contract, and legal penalties. Contract compliance mistakes can lead to contract failure, data leakage, a shattered reputation, lawsuits, and more.

Contract managers need to know their mistakes in order to correct course. As such, here are six contract compliance mistakes you might not know you’re making.

Digital transformation is the future of contract management – whether legal operations professionals like it or not. Organizations not leveraging contract intelligence may very well encounter a bleak contract lifecycle management future.