Contract Insights

Awarding a contract is a complex, multi-faceted process.  There is room for error and missed opportunities without the right strategy.  This blog will delve into the five critical stages in awarding a contract and how to seamlessly navigate these stages with leading contract management software tools.

Contract creation is a multi-faceted process.  Without the proper procedures, your organization can suffer from increased risk, drawn-out contract lifecycle times, and missed opportunities - among other deleterious consequences.  Contract documents and data stored on spreadsheets, email servers, and shared drives alone can result in lost contract documents and versions.  Back-and-forth contract drafting via email can result in slow collaboration times and unclear document versions.  An inadequate clause management process can result in the wrong clauses being included in contracts and missed opportunities.  Wet contract signatures can result in long send-to-sign times and costly postage expenses.  What's more, risk can increase, resulting in lost revenue, data leakage, lawsuits, and more.  Fortunately, you can leverage contract management software to avoid sending your contract creation process into a tailspin.  To that end, here are six ways contract creation software can improve your contracting process.

CobbleStone Software's latest version – CobbleStone Contract Insight® Enterprise 17.11.0 – has come, introducing next-level CLM features and enhancements for you to master to bring your contract management software platform to the next level!

Over the last year, our clients - legal professionals - have expressed their seemingly increased workload for reviewing contract documents, negotiating agreements, and signing contracts.  Recently, I was asked: "When do you know it is time to hire a full-time legal professional for contract management and legal review?" Considering the innumerable times I've been asked this question, I resolved to write a thorough and thoughtful response as a blog that aligns with our audience of contract management software users and prospective CLM users as well.  Discover 5 steps to determine if you need to hire a full-time legal reviewer or paralegal.

Vendor management efficiency is critical for organizations to reap the highest ROI from vendor relations.  Unfortunately, many organizations still rely on vendor management methods that depend on costly pay-per-solicitations, unclear selection of the best possible vendors, tracking vendor insurance certificates manually, decentralized vendor management and contract management processes, and other deleterious procedures.  Luckily, you can automate these processes and more with vendor management software.  But what exactly is vendor management software?  Let's improve your processes with integrated vendor management and contract management software.

Did you miss any of our blog posts from February?  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 software and procurement best practices in February by reading the latest CobbleStone® content.

CobbleStone Software will be exhibiting its industry-leading and AI-backed CLM software, CobbleStone Contract Insight®, during the Legalweek conference from March 8^th – 11^th, 2022, at the New York Hilton Midtown in Manhattan – offering Legalweek attendees the opportunity to see AI-powered legal contract management software in action. 

Recent developments in procurement process digital transformation have made it more possible than ever to streamline procurement contract management processes and blast off into the sky to robust procurement and contract management software processes.  As such - if your organization is leveraging outdated procurement tools such as disparate spreadsheets, manual filing cabinets, a basic contract database, limited bid outreach, manually collecting bid responses via email, bottleneck-prone procurement contract management task management, disparate vendor management via emails, and others - you could suffer from failure to launch.  Luckily, you can leverage a one-stop-shop solution for the processes mentioned above and more.  To prepare for takeoff into positively transforming your strategy, here are five procurement contract management best practices to navigate 2022 and beyond with increased governance, procurement centralization, and ROI.