CobbleStone’s award-winning contract management software, Contract Insight®, is a user-friendly system, able to meet any industry’s needs with a few easy configurations. Leading life sciences and pharmaceutical companies use Contract Insight as their preferred life sciences contract management software to simplify and streamline their process. Learn from this real-world example how a global life sciences company chose Contract Insight as their contract management system and utilized the user-friendly software’s configurability to ensure the system met their needs.
The Challenge: Tracking Contract Amendment Data
A private life sciences company, dedicated to improving the quality of life for infants, was facing the challenge of tracking contract amendment data, given the hundreds of contracts managed within the organization. They were handling multiple amendments per contract, and there was no organization as to how the amendments were tracked and stored (before they implemented Contract Insight).
It’s essential for life sciences and pharma companies to have transparency into each of their contracts with a system to track and store each amendment. Also, these documents often contain confidential information and should be stored in a secure location with user-defined access. The organization was encountering lost documents and an inefficient process due to the lack of a secure, searchable contract repository.
The Solution: Contract Detail and Sub-table Configurations
Roman, a Contract Insight Implementor at CobbleStone, helped the life sciences company by showing them how to easily configure their contract details with user-defined sub-tables so they can track amendments for each individual contract. Now, each contract has all associated amendments, metadata, and attachments stored in the same location within the system so data can be found quickly and easily.
In addition, each contract and associated documents are securely stored in the system and only those individuals assigned are given access to manage or edit the data. When changes are made, an audit trail gets logged in the system for who has made changes and what those changes were. This is important for such a highly regulated industry so any issues can be addressed appropriately.
About the Implementor
Roman has been a software implementor at CobbleStone since 2015 with experience working for leading online service providers as a technician. He works with clients during optimization sessions, handling about 30 unique situations every month. He finds Contract Insight’s Ad-Hoc Reporting feature to be especially useful to the clients he works with and always looks forward to helping organizations take full advantage of the software features Contract Insight has to offer.
Contract Insight for the Life Sciences Industry
CobbleStone’s Contract Insight contract management software provides life sciences and pharmaceutical companies with a better way to manage contracts quickly, efficiently, and effectively. Take advantage of out-of-the-box contract tracking with fully configurable fields. Contract Insight supports flexible configurations to meet each organization's individual needs with contract clauses and templates, intelligent workflow approvals, proactive alerts and reminders, cost tracking, regulatory compliance monitoring, e-signatures, and more.
Read the rest of the Implementor's Story Blog Series for more real-life success stories.
Contact us today to schedule a training session with CobbleStone. Take full advantage of your Contract Insight system by learning how to effectively use advanced features of our software and get up-to-speed with new release updates.