Contract Insights

Successful contract management can dramatically increase revenue and organizational growth (among other things)…but unchecked contract risk can be disastrous.  Inadequate contract risk prevention measures can cost your organization money and time and result in costly and damaging instances of contract mismanagement - including negligent clause language and less than legitimate business associations.  To avoid these deleterious situations and more, your organization must forge and implement an ironclad risk response plan and stick to it.  You can get started with your powerful risk response plan with the aid of trusted contract management software.

Managing and overseeing contract risk factors can be difficult, stressful, and time-consuming.  Manual contract risk assessment can cost organizations money and time and lead to costly and potentially disastrous instances of contract mismanagement.  Organizations do their best to diligently track contract risk factors, including potentially negligent clause language.  However, contract risk management can prove overwhelming when dealing with multiple deadlines and stakeholders.  But all is not lost; there is a solution: contract management software.  Read on to learn how to use a contract management risk and opportunity assessment tool to decrease risk and increase your bottom line.

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.

Managing government contracts with disparate processes such as shared drives, email, disorganized documents, and disorderly spreadsheets can prove challenging and leave your organization vulnerable to undue risk.  Public contract managers implementing such disparate contract management methods can transform their processes and maximize their budget by fiscal year-end by investing in a robust contract management software system that can seamlessly evolve with their organizations’ needs.  City, state, and federal contract management professionals can streamline their processes with the help of an end-to-end government contract management software suite that centralizes government contract administration services from requests to renewals.  Read on to learn how leveraging a centralized government contract management system with integrated eSourcing and eProcurement features can empower government contract management professionals to successfully administrate the many moving parts of their contracting processes.

Reliable contract lifecycle management software with built-in OFAC search integration tools can streamline and centralize the process of ensuring employee compliance per the US Treasury’s Office of Foreign Assets Control.  Learn how your organization’s HR personnel can maximize CobbleStone Software’s OFAC search with intelligent national sanction compliance checks and risk analysis snapshots for staff.  Read this helpful blog – written by CobbleStone Software’s very own HR Administrator, Elicia Neumann.

Manual and disparate vendor management methods - such as those involving phone calls, emails, paper-based filing systems, and spreadsheets can prove challenging and error-prone.  Without the aid of a centralized, web-enabled process, vendor management workflow delays can stall productivity.  Thankfully, future-minded vendor management software can positively transform your process with end-to-end vendor oversight.  Read on to discover user-friendly, comprehensive, and unified vendor oversight from start to finish with CobbleStone Vendor Management Software.

Managing vendors with manual and disparate processes such as spreadsheets, phone calls, emails, and paper-based filing systems can prove challenging.  Without a centralized electronic process, vendor management workflow bottlenecks can significantly undermine productivity.  Fortunately, leading-edge vendor management software can enhance your processes by expediting end-to-end vendor management workflow with optimal oversight.  Read on to learn how to supercharge your vendor management processes with CobbleStone Vendor Management Software.

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.