Contracts are legally binding - and thus need to be executed properly. As such, organizations should be equipped with a thorough understanding of the contract lifecycle. The contract lifecycle is the process under which a contract is authored, reviewed, sent for signature, executed, and - potentially - renewed. The “lifecycle” is an archetype used to compartmentalize and understand a contract’s complex evolution. The lifecycle begins with contract requests and concludes when said requests are fulfilled - with the possibility of contract renewal. Learn about the eight stages of the contract lifecycle below.
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.
2021 has already brought many enhancements and innovations to contract management automation - and contract management technology will not stop enhancing contract management processes any time soon. Your organization could be missing out on user-friendly and future-minded contract management system tools. As such, here is a list of four must-have contract management software features for a streamlined, simplified, cost-effective, and configurable process for increased ROI.
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.