Companies of all sizes within both the public and private sectors often find themselves maneuvering multiple contracts at once - with said contracts progressing at various stages of the contract lifecycle. As such, they must build an efficient, organized, and cost-effective contract lifecycle management process that helps with all stages of the contract lifecycle. Read on to learn how to get started building a strong and centralized contract lifecycle process - as well as how this undertaking can be significantly simplified and improved with the right strategy, rather than the cheapest and most manual.
This blog post was updated on March 30th, 2021
Contract lifecycle management requires a thorough strategy, careful planning, and the right technology. Without all three elements, managing contracts can not only be challenging for contract management, sourcing, procurement, vendor management, and legal professionals; it can prove difficult to maximize contract value. Contracts require tremendous pre-award and post-award investment. Without a suitable contract management system in place, you can find it difficult to maximize ROI. Too many organizations are missing end-to-end contract management that provides a clearly defined process, actionable insights, and accountability - ultimately negatively impacting productivity, profitability, risk exposure, and compliance. Read on to learn how you can master contract lifecycle management.
This blog post was updated on February 18, 2021.
Contract managers are under increased pressure to deliver value with reduced contract risks, reduced costs, and improved performance. Contract managers who regularly measure the success of their contracts against contract management KPIs can proactively readjust their contract strategy to ensure goal alignment drives critical and positive organizational impact.
Read this blog for a rapid, high-level, general overview of CobbleStone Software's contract management software suite - Contract Insight®, its purpose, and some of its key features.