Contract Insights

Did you miss any of our blog posts from January?  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 February by reading the latest CobbleStone® content.

We know. We usually talk about contract management software here on the Contract Insights blog. But what if we rewound for now to a stage that often comes before contracts: letters of intent?

What is a letter of intent? Why does it matter? What does it have to do with contracts?

Read on to find out.

Unfulfilled contract obligations can create a post-award contract management nightmare that can escalate to stressful legal action – such as issuing a cease and desist or suing your counterparty. 

So, how can you avoid this? 

By clearly defining the obligation of contracts between you and your counterparty and leveraging contract management software tools to receive timely alerts for each obligation of contracts, you can retain contract obligation accountability instead of meddling with unnecessary disputes.

Contract review is a crucial contract management stage.  Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.

Thankfully, we can establish a contract review processes checklist and manage the life of a contract with leading contract management software.  Let’s get started.

At the heart of healthy business relationships are contracts. In an ideal world, contract parties perform obligations, they renegotiate or renew, and all are happy with a longstanding and fruitful business relationship…

…but unfortunately, we do not live in an ideal world.

Sometimes, one party fails to perform. As such, a breach of contract occurs. Time and money are wasted. Opportunities and value go “poof.” Crucial business processes are delayed or destroyed. Trust between parties is maimed.

With all of these negative effects, a breach of contract should clearly be avoided. Parties should have the right tools to identify contracts’ failure to perform and prevent breaches of contract. Thankfully, contract management software can help.

Signed, sealed, delivered...What comes to mind when you imagine a "signature" being performed on a document? Most likely, you picture a wet signature - meaning a handwritten signature.

The iconography of the wet signature is pretty ubiquitous, but what does a signature do? What is a wet signature? Why is it so obsolete? What's a better option than a wet signature?

Read on to find out.

You have likely heard the term “digital transformation” in a professional context. This term has become ever more prevalent since the start of the COVID-19 pandemic. Digital transformation initiatives have been leveraged to transform business processes and business outcomes.

But what is digital transformation really – and why does it matter? Read on to find out!

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