Contract Insights

As we step into 2021, CobbleStone Software’s Executive VP – Mark Nastasi – reexamines contract management software technology trends in the wake of the many challenges of 2020.  He provides expert insight into how organizations can move forward into more future-minded, automated, and user-friendly contract management in 2021 and beyond.  Read his considerations and suggestions below.

It is important for procurement professionals to successfully align vendor management and purchasing goals with a trusted solution.  Luckily, CobbleStone Software - which has been preferred by procurement professionals for over 20 years - can help organizations to establish a procurement strategy, strengthen procurement processes, and commit to a future-minded and proactive approach to procurement while embracing automated eProcurement software.  Read on to learn why so many procurement professionals choose CobbleStone time and time again.

If your organization is planning on leveraging contract management software, it is crucial that your team is aware of how to oversee user permissions effectively.  The terms of many contracts necessitate user permissions parameters to be put in place regarding access to contract documents, files, field data, reports, and more.  Manually managing user permissions with methods involving spreadsheets or unsecured folders, access that must be approved or restricted via disparate emails or other decentralized communication, or the nearly impossible task of managing different levels and stages of access as the contract lifecycle ensues can leave your organization at legal and regulatory risk.  Learn how to mitigate such risk factors and more with cutting-edge contract lifecycle management software.

Contract writing - also known as contract authoring - is a critical stage of the contract lifecycle.  The contract writing process involves contract parties putting into written copy the terms of a contract.  One extremely important facet of contract writing is  contract clause management.  Insufficient contract authoring procedures as they pertain to contract clause management often rely upon disorganized tracking of versions, a lack of unified contracts and subcontracts, and - unfortunately - scattered clauses.  Such processes can leave your organization with contracts that are missing clauses, an overlooked mass of key dates and milestones, and unified contract lifecycle management.