Contract Insights

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.

Contract writing is an essential phase in the contract lifecycle.  During the contract writing stage, contract parties put the terms of a contract into written copy.  Inefficient contract writing processes often rely on scattered clauses, poor compliance management and version tracking, insufficient line item management, and a lack of unified contracts and subcontracts.  These processes can lead to an organization that is hindered by error-prone contracts with missing clauses, missed key dates and milestones, and a decentralized process that impedes the contract lifecycle.

Organizations that make data-driven decisions position themselves for long-term success. Their culture, tools, and abilities are centered around the common goal of collecting quality data and analyzing it quickly and accurately to make informed business decisions. When managed effectively, quality contract data translates to contract analytics, providing the insights necessary for organizations to decrease contract cycle times with sharpened control, governance, and visibility. Learn how to turn contracts into a pivotal source of business intelligence that supports strategies, tactics, and goals.

CobbleStone attended the 2019 NY GovBuy on April 30^th and May 1^st as a contract management and eSourcing software exhibitor.  The event was a collaborative experience for NY state government buyers, held in Albany, NY at the Empire State Plaza and Albany Capital Center.  Sessions provided conference attendees with industry news and best practices for procurement, bid management, contract management, and more.  If you didn’t get a chance to attend 2019 NY GovBuy, I outlined some key takeaways from the NY state conference.