Contract Insights

2021 has arrived, and with it comes new innovations to your contract management software processes.  Keeping this in mind, we have outlined six critical contract management tools that your organization should equip itself with to stay ahead of future-minded contract management best practices in 2021 and beyond.

In order to get started with improving contract lifecycle management, there first needs to be an understanding of what exactly the contract lifecycle is - as well as how it progresses.  To that end, we have provided an illustration that shows the stages in the life of a contract - as well as descriptions that give more insight into how each stage involves and can be managed with 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 and procurement best practices by reading CobbleStone’s latest content.

Manual contract management processes involving disorganized spreadsheets, sporadic emails, internal billing systems, emailed reminders, and wet signatures may suffice for organizations with low contract volume and contract complexity.  Unfortunately, when organizations manage thousands of different contracts of ranging contract types, challenges can arise due to a time-consuming, error-prone, and inefficient manual contract renewal process.  Moreover, such an outdated contract renewal strategy can increase risk and decrease opportunity realization.  It’s time to take control of contract renewals.  Read on to learn how to leverage contract renewal process best practices for increased ROI, decreased risk, increased revenue, and better opportunity oversight with contract management software.