Contract Insights

As the end of the third fiscal quarter draws nearer, the fact remains that the manual management of contracts, vendors, bids, and purchase orders can prove difficult and ineffectual.  Methods that involve paying per solicitation can grow quite costly.  Here's how to unlock six key eProcurement software tools for procurement prosperity through the third fiscal quarter and beyond!

Outdated supply chain management processes can prevent organizations from navigating the supply chain contract lifecycle easily.  When organizations rely upon processes that become inefficient as they evolve and grow, they may face various challenges and risks that bog them down and prevent growth, efficiency, a strong reputation, and increased ROI.  Don’t let obsolete supply chain contract management processes hinder your organization’s evolution; discover 7 signs that you’ve outgrown your supply chain management process and need to upgrade!

Proper contract management is vital for the health of an organization’s contract lifecycle.  Despite the importance of forming a solid foundation for contracting, most organizations do not use a contract playbook.  Considering that these tools for contract procedure establishment are instrumental in helping many departments within an organization to share a universal understanding of standard contract processes and improve contract performance, this is surprising.  When a contract playbook is paired with leading contract management software, organizations are equipped with powerful tools for efficient, cost-effective, and organized contract management.  Given the importance and under-use of contract playbooks, here is how organizations should establish them for next-level, automated contract management.

Retail property management organizations often need to handle many different types of requests and contracts – including construction contracts, leases, rental agreements, retail management contracts, vendor contracts, maintenance agreements, property management contracts, and more.  With the need to handle numerous of contracts per year and support updated lease accounting standards, manual contract management processes may prove insufficient – potentially leading to contract lifecycle delays, missed key dates, lost revenue, unsatisfactory lease accounting, and wasted time.  These organizations need to leverage integrated contract management software for enhanced retail property contract management.  Here’s how.

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 and procurement best practices by reading CobbleStone’s latest content. 

In contract lifecycle management, efficient collaboration between stakeholders is a must.  Contract requests, renewals, and almost everything in between can involve many moving parts – with a high potential for inefficiency if adequate measures are not introduced.  In the interest of avoiding communication delays and contract lifecycle bottlenecks, organizations should leverage robust contract collaboration tools offered by leading contract management software.  Here are four steps to foster healthy and productive collaboration and expedite the contract lifecycle.

U.S. Federal Contractors - no matter which government agency or department they are contractually involved with - can face several challenges throughout the contract lifecycle.  With many different tasks to perform, there is a lot of room for errors or missteps that may lead to contract lifecycle bottlenecks, compliance challenges, regulatory violations, wasted time, and lost revenue.  Luckily, government contract management software can help.  Here’s how.

Legal departments face ever-increasing pressure to deliver contract value and streamline legal ops with shorter contract lifecycle times and improved contract performance.  Legal departments that regularly measure the efficacy of their contracts against KPIs can proactively calibrate their legal contract management process to improve organizational impact through goal alignment and goal attainment.  Discover four crucial legal department KPIs in this article.