Contract Insights

Did you remember to read all 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 contract management software and procurement best practices in January by reading the latest CobbleStone^® content.

Sometimes during the contract lifecycle - as in everyday life itself - disputes arise. These contract disputes have the potential to damage business relationships, harm reputations, and cause stress. To avoid these negative effects along with financial losses due to legal fees, operational disruptions, unauthorized disclosures, and delayed project timelines, you ought to consider these five ways to avoid and manage contract disputes.

Contracts serve as legally binding agreements that outline expectations, responsibilities, and potential outcomes of a business relationship. Understanding the essentials of a contract is critical for facilitating clear communication and awareness of both parties. But what makes a contract valid and enforceable? What are the four basics of a valid contract? Let's explore those key elements more in this blog post.

"Do I need a contract management system?" This is an important question to consider critically. Although contract management software is a significant investment, the high price of low-cost contract management often far outweighs this initial, carefully considered expenditure. What's more, according to Goldman Sachs, an automated contract management system can lower the cost of managing contracts by 10-30%. If managing contracts is a critical part of your organization's operations, consider the following key factors when deciding whether or not you need a dedicated contract management solution.