Contract Insights

With advancements in automation tools and digitization, the overall modern business environment is fast, to say the least. Legal operations are no exception to this need for expediency. Luckily, contract lifecycle management (CLM) software has skyrocketed in usage as a powerful solution for streamlining the entire contract management process - from drafting to execution and renewal. Organizations considering contract lifecycle management software need to diligently review CLM software offerings to find the solution that best fits their specific needs. To that end, this quick buyer’s guide aims to support organizations in the consideration phase.

What are FAR and DFARS clauses? Why are they important? How can you manage and utilize them. Let's explore advanced FAR/DFARS clause oversight and control with CobbleStone Software's contract management software.

Successful contract management requires you to embrace a centralized and secure process.  Manual contract management methods - such as filing cabinets for paper documentation, shared drives, spreadsheets, emails, and disorganized digital storage – won’t cut it as your contract portfolio grows.  These methods make it nearly impossible for your organization to maintain version control, keep contracts and data secure, stay on top of key dates and milestones, and enforce contract archiving and retention rules.  Your organization can scrap these outdated methods in favor of something better.  As such, here are the benefits of a secure contract repository within leading, AI-powered contract management software.

Did you miss any of our blog posts from May?  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 June by reading the latest CobbleStone^® content.

Contracts are legally binding agreements that define and govern the exchange of goods or services. A contract’s journey – from creation to fulfillment and completion – is complex and leaves room for errors and oversights. As such, a process has been generally agreed upon for the handling of contracts. This process is referred to as contract management.

But what is contract management, and how can it be approached? Here’s what you need to know.

As a contract manager or administrator, you assume leadership in ensuring your organization's contracts are drafted, negotiated, executed, and managed effectively. However, there may be situations where seeking outside counsel proves necessary to protect your organization's interests and mitigate potential risks. Let's discuss eight signs indicating it may be time to consider bringing in outside counsel for legal services.

A healthy contract management process should constantly be adapting to technological advancements.  As contract volume and contract complexity begin to grow, organizations must embrace digital transformation to be furnished with the right tools to streamline the contract management process.  Such innovative CLM tools can be found within a trusted contract management software system. Read on to learn more.

Contract managers, contract administrators, law firms, and legal teams can leverage legal analytics to gain a competitive advantage and make informed, strategic decisions. Whether you are new to contract data analytics or a well-seasoned user of advanced legal analytics tools, here are five common questions answered.