The health of the contract lifecycle relies upon efficient contract task management. Manual methods for completing contract tasks relating to pre-award and post-award contract lifecycle management can be error-prone, inefficient, and tedious - potentially decreasing your organization's ROI. Read this blog to learn how your organization can embrace streamlined and future-minded contract task management with AI-powered contract management software.
2021 has arrived, and with it comes new innovations to your contract management software processes. Keeping this in mind, we have outlined six critical contract management tools that your organization should equip itself with to stay ahead of future-minded contract management best practices in 2021 and beyond.
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.
Vendor risk management can be daunting for risk management professionals and financial contract management teams. In many cases, the process of sourcing a suitable vendor or partner is hard enough on its own. However, a risk or vendor management professional must also understand a business's requirements and solicit vendors, contractors, and other partners to engage in business with to ensure they are qualified. Add to the mix the financial responsibility of ensuring compliance under OFAC, or the Office of Foreign Assets Control, from the United States Treasury Department. Clearly, the duties of reviewing the vendor onboarding process, agreement terms, and clauses can be a time-consuming set of tasks. Leading contract management software, however, can streamline these processes with seamless OFAC search integration. Read this blog by CobbleStone's Founder and Executive VP, Mark Nastasi, to learn how.