Contract Insights

CobbleStone Software introduces a free, virtual masterclass for legal, contract, and procurement professionals. This interactive learning experience is led by CLM software experts and is designed to show you the best route toward successful contract management!

In an era where "AI is coming for lawyers," the legal community is abuzz with the question: "Will AI replace lawyers?" The integration of artificial intelligence (AI) in law and legal practice has led to a paradigm shift, raising concerns about artificial intelligence replacing lawyers. However, it's crucial to understand that AI in the legal field is not a harbinger of replacement but a catalyst for transformation. To that end, let’s talk about legal professionals, lawyers, AI, and business innovation.

In the grand design of a society, every structure, from the humblest home to the tallest skyscraper, begins with a blueprint. This blueprint is a promise of what will be built - providing clarity and guidance to all involved. This metaphor aptly describes the role of contracts in the business world. Just as a blueprint is vital in construction, a contract is crucial in the realm of business. But why are contracts so important, and what purpose do they serve?

Contract managers are under increased pressure to deliver value with reduced contract risks, decreased contract costs, and improved contract performance.  When you regularly measure progress and the success of contracts against contract management key performance indicators (KPIs), you can proactively readjust your contract strategy to ensure goal alignment drives critical and positive organizational impact.  Read on to learn how contract management software can help maximize three important contract management KPIs for success.