Contract Insights

The age of legal operations digital transformation continues in 2023, with even more exciting digitization tools for business process automation available.  The more contract administration tools available to legal teams and contract administrators – however – the easier it is to fall behind.  With that said, let’s examine six tips for effective contract management in 2023 to get ahead with contract management software.

Contractual compliance management can be challenging when leveraging primarily manual methods, such as spreadsheet management – especially when tracking multiple contracts with varying compliance standards.  Fortunately, contract lifecycle management (CLM) software tools can help you retain contractual compliance.  Read on to discover how you can streamline three key contractual compliance management areas with leading contract management software.

In April, we announced CobbleStone Software's momentous million-clause initiative to enhance and nourish VISDOM® AI - CobbleStone's proprietary contract artificial intelligence engine with machine learning.  Now, we are excited to share that - in just two months - over 330,000 clauses have been "fed" to VISDOM contract intelligence thus far!  This momentous 1,000,000 contract clause initiative is just one of many reasons that CobbleStone® has been celebrated as the leader in contract management software.

The contract analysis process is a many-feathered bird.  Between tracking and gaining insights from clauses, tracking contract status, and managing risk variables - there is ample room for mistakes and bottlenecks.  Luckily, organizations can manage contract analysis better with contract artificial intelligence within contract management software.

Contract administration can be a daunting process when relying on primarily manual tools - such as spreadsheets, shared drives, and disparate emails.  Without accountability, visibility, and a clearly defined contract administration plan, you can find yourself running into compliance issues, minimizing contract value, and encountering other setbacks.  Read on to learn how you can create a strong contract administration plan with the help of leading contract management software.

As a legal operations professional, you hold a tremendous responsibility within your organization – especially in managing internal and external stakeholder processes.  Relying on manual contract management processes such as spreadsheets, emails, and shared drives can create inefficient contract management processes that can decrease revenue, waste time, and increase risk.  Read on to learn how legal operations software and contract management software can empower your day-to-day legal operations.

There is an almost limitless abundance of wildlife within the animal kingdom.  And yet, some zoologists can recognize thousands of species, along with how they function within their ecosystems, how they behave, what they eat, where they obtain shelter, etc.  But how do zoologists come to know so much about the creatures around us?  The answer is through repeated exposure to and study of such beasts.

Similarly, contract artificial intelligence within contract management software can come to recognize almost countless different types of clauses within contracts - if said contract intelligence engine is fed a "nutritious diet" of various contract clauses and terms.  Such is the idea behind CobbleStone Software's million-clause initiative to nourish and enhance its proprietary contract artificial intelligence engine with machine learning - VISDOM® AI.

This blog was originally published on September 15^th, 2021.

The world of contract administration has evolved drastically in recent years.  Given the ongoing COVID-19 pandemic and the embrace of digital transformation over obsolete legal operations methods, organizations must embrace automated contract management software tools that support remote contract collaboration and intelligent workflow automation.  As such, here are the top three contract management technology tools that organizations should leverage.

Corporate compliance and risk management are critical for the success of a contract.  Organizations need to be aware of potential exposure to financial risk, legal penalties, breaches of contract, and other risks while adhering to industry laws, government regulations, internal policies, and other compliance rules.  Failure to do so can result in a lack of corporate compliance, contract failure, lawsuits, a compromised reputation, data leakage, and worse.  Luckily, organizations can leverage leading contract management software to enhance corporate compliance and risk management.  Here's how.

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!

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. 

As we navigate 2022, it is clear that contract artificial intelligence - or contract AI - is sharpening contract management software practices and broader legal operations in significant ways.  How exactly can your organization leverage contract intelligence to automate and streamline contract lifecycle management?  Read on to learn five ways contract AI is positively transforming contract lifecycle management operations in 2022.

Contract compliance management can be challenging when leveraging primarily manual methods, such as spreadsheet management – especially when tracking multiple contracts with varying compliance standards.  Fortunately, contract lifecycle management (CLM) software tools can help remedy contract compliance management challenges.  Read on to discover how you can solve three contract compliance management challenges with leading contract management software.

CobbleStone Software’s Executive VP and Founder, Mark Nastasi, narrows down his top eight items of recommendation to help you lead your legal digital transformation in 2022.

Contract management professionals of all types are in the age of digital transformation.  Organizations need to correctly leverage contract management tools to adapt successfully.  As with any practice, mistakes in contract management are quite possible.  Contract management teams leveraging obsolete, manual methods are even more likely to commit CLM errors – resulting in contract lifecycle bottlenecks, missed key dates and milestones, and lost revenue.  Mistakes in contract management must be avoided.  Read this blog to discover six common mistakes in contract management – and how they can be evaded with the help of contract management software.

Contract review is one of the most critical stages in the life of a contract.  Unfortunately, many organizations are using obsolete contract management methods.  Manual and entirely paper-based contract review methods can lead to missed key dates and deadlines, missed opportunities, costly and damaging contract language oversights, and other harmful consequences and contract lifecycle bottlenecks for your organization.  Luckily, this blog post will examine the contract review process – as well as how one can improve contract review with AI-based contract management software.

Does your organization have a high volume of contracts of ranging complexity?  Do you need these contracts searched, have important contract data extracted, and be stored within an easily accessible contract data repository?  Don't leave your team overwhelmed with manual contract data extraction and legal discovery processes.  Instead, leverage intelligent contract data extraction with the help of powerful contract intelligence within a leading-edge contract management software system.