Contract Insights

As a lawyer, you manage a variety of contracts that involve ranging stakeholders and processes.  Yes, you may have help from paralegals and legal assistants to coordinate the contract groundwork.  However, when it gets down to the nitty-gritty of negotiations, approvals, signatures, and post-award contract management processes, you need a trusted and streamlined system in place to grant you optimal control over your contact management process.  Read on to learn how you and your legal team can significantly improve legal contract management software procedures.

2021 is rapidly approaching and, with it, innovations and enhancements to contract management automation.  To that end, here is a list of user-friendly, future-minded, and industry-advancing contract management software features, processes, and best practices that organizations can empower themselves with to successfully and confidently navigate the evolving landscape of contract management through 2021 and beyond.

Managing various types of entertainment and media contracts from varying locations, often internationally, with multiple departments and roles can be an arduous process - especially when relying on disparate methods such as postal mail, wet-signatures, filing cabinets, emails, shared network drives, and lengthy paper-based negotiations.  Dealing with and tracking a high volume of contracts – from intellectual property contracts to option agreements, among many others - can be tremendously challenging without the right contract management system in place.

As was detailed in our recent blog on CobbleStone’s PC Helper App for MS Outlook, contract generation is a multi-faceted process.  A unified procedure for contract collaboration, contract writing, and contract negotiation can be hard to come by.  The “track changes” feature that comes with MS Word out of the box can help make the contract negotiation process easier with redlining.  However, version control issues can arise when contract stakeholders work on different computers in disparate locations.  In turn, documents that are saved locally can easily get lost – potentially resulting in more work for involved contract stakeholders.

To avoid issues such as lost document versions and contract lifecycle bottlenecks, CobbleStone Software’s latest release of its celebrated contract management software – Contract Insight® 17.7.0 – offers a PC Helper App that seamlessly integrates with MS Word. Here’s how to use that functionality.

General Counsel and paralegals face growing contract volume and contract complexity.  The lack of an efficient legal contract management process can render obstacles that legal departments encounter nearly impossible to overcome.  As such, here's how to utilize legal contract management software for a shortened legal contract lifecycle.

The strength of an organization’s contract lifecycle hinges on a healthy contract strategy.  An ironclad contract procedure helps departments within an organization come to a universal adoption of contract processes that improve contract performance.  A contract strategy that leverages leading contract management software equips organizations with advanced tools for organized, cost-effective, and efficient contract management.  As such, here is how organizations can employ a winning contract strategy for future-minded, AI-based contract management.

Retail property management organizations often need to handle many different types of requests and contracts – including construction contracts, leases, rental agreements, retail management contracts, vendor contracts, maintenance agreements, property management contracts, and more.  With the need to handle numerous of contracts per year and support updated lease accounting standards, manual contract management processes may prove insufficient – potentially leading to contract lifecycle delays, missed key dates, lost revenue, unsatisfactory lease accounting, and wasted time.  These organizations need to leverage integrated contract management software for enhanced retail property contract management.  Here’s how.

In contract lifecycle management, efficient collaboration between stakeholders is a must.  Contract requests, renewals, and almost everything in between can involve many moving parts – with a high potential for inefficiency if adequate measures are not introduced.  In the interest of avoiding communication delays and contract lifecycle bottlenecks, organizations should leverage robust contract collaboration tools offered by leading contract management software.  Here are four steps to foster healthy and productive collaboration and expedite the contract lifecycle.