A study examining the reasons for contract management process failure found that key indicators of contract mismanagement include (among others) poor contract lifecycle planning and scheduling, late or improper contract submission and approvals, weak leadership, and lack of counterparty collaboration and communication (Mohamed, Norazida, et al., 2019). Luckily, with leading contract management software and the proper contract management services, your organization can streamline contract management, decrease risk, increase revenue, and much more. To that end, let's examine our top eight contract management services for more robust contract lifecycle management.
If you are a new CobbleStone Contract Insight® user, we understand that learning the contract management software system can be intimidating at the outset. You may be asking yourself, "How will I learn the system?" "How will I remember everything?" "Do I need to do all of this myself?" Well, rest assured, CobbleStone® offers a myriad of training resources to ease concerns you may have! CobbleStone can provide training resources to fit your needs - whether you are a brand-new client, a new user of the system, or simply want to brush up on a few features.
Introducing a new contract management software solution can be a painless process or a long and difficult one. Taking steps to prepare for the CLM implementation helps ensure the process is efficient rather than arduous and helps guarantee success. The following steps can help lead to successful implementation:
- Determine contract administrators for the project.
- Assess and track contract data.
- Consider contract processes and configure procedures.
- Increase security with contract management permissions.
- Define necessary contract management reports.
- Collect and clean contract management data.
Read on to discover how to leverage the above-mentioned steps to successfully implement your contract lifecycle management software.
As your organization's contract management software processes evolve and mature, so too will the features of your CobbleStone® Contract Insight system. Over time, you may update your processes, configurations, and - very likely - your CobbleStone users. We at CobbleStone Software know that it can be a daunting transition for new contract software system users to jump into a live system - especially if those users are contract management system admins. Luckily, we have your back! CobbleStone offers numerous resources to get your organization's new users up to speed on all the features and functionality the system has to offer. Regardless of your users' roles, CobbleStone can offer a training solution to fit your needs.