Contract Insights

Did you miss any of our blog posts from October?  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 best practices by reading CobbleStone’s latest content. 

CobbleStone Software will be exhibiting and presenting Contract Insight®, our award-winning legal document management software at ACC’s Annual Meeting at the Phoenix Convention Center October 27^th-30^th.  The Association of Corporate Counsel’s can’t-miss event is considered the “world’s largest gathering of in-house counsel.”

October is a perfect time to reflect on 2019 so that we are positioned to strategically plan and align our goals for 2020.  This year has been very exciting for contract management, with digital transformation shifting from a concept to a well-thought-out strategy that is being leveraged to increase the value and positive organizational impact that contracts can bring.

At CobbleStone Software, in addition to providing leading contract management software, another one of our goals is to provide content that helps educate our readers with best practices and the latest news around contract management and procurement.  I’ve looked back at some of our most popular articles of 2019 and in this article, reveal 2019’s 5 hottest contract management topics.

Did you miss any of our blog posts from September?  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 best practices by reading CobbleStone’s latest content. 

Contract managers, contract administration professionals, and corporate legal teams struggle to show clear contract management ROI to executive leadership within their organizations.  This struggle to show value is not isolated to one contract management challenge, but rather, it is a conglomeration of issues with manual contract management systems, lack of communication, and misaligned goals.  For organizations managing hundreds or thousands of contracts each year, the bottom line can be hit from multiple angles from increased costs to decreased revenue to lost time to missed opportunities to increased risk.  This article analyzes the root causes of missed ROI and presents a strategy to get the most value out of contracts.

Legal teams face ever-increasing volumes of legal work and struggle to achieve goals without enough in-house resources to complete the evolving complex demands of the legal function.  General Counsel is now acting as an internal business advisor and strategist, leaving paralegals and legal assistants to lead the charge in a legal operations role that improves productivity and legal services quality, leverages technology to gain new insights, drives efficiency through automation, increases security, and decreases risk.  When it seems like there isn’t enough time in the day to reach your organization’s goals, the path to better document management can be found with the right legal filing system.

CobbleStone Software recently exhibited at NCMA’s World Congress 2019 at Hynes Convention Center in Boston, MA.  Despite a heat index of over 100° F, committed contract management professionals showed up to this eagerly anticipated contract management conference ready to learn and network.

I exhibited on behalf of CobbleStone with Michael Donnelly, one of our seasoned account managers.  We spent an immersive three days learning about the challenges contract professionals are facing in 2019 and demonstrated how CobbleStone’s award-winning contract management software could help them provide more value to their organizations by positioning them to do their jobs more efficiently and effectively.

Hospitals, healthcare providers, and health systems are facing complex challenges around cost control, regulatory compliance (HIPAA, JCAHO, Stark Law regulations, Medicare billing rules, etc.), and operation and service efficiency.  In healthcare, successful contract management is critical for organizations managing hundreds or thousands of contracts covering different departments or facilities, and multiple vendors, providers, or agencies.  Mismanaged contracts can not only lead to increased costs, thinning margins, and lack of productivity; they can lead to compliance failures that result in reputation and accreditation issues.