Contract Insights

The comprehensive, organized tracking and reporting of financials are vital aspects of proper contract lifecycle management. Organizations need a contract management software solution that allows them to track transactions, establish reports on key financials, set alerts for thresholds, and analyze financial statistics pertaining to contracts.  In this article you will learn how CobbleStone Software’s source-to-contract suite, Contract Insight, can help your organization with the careful management of contract financials in one centralized platform. 

The COVID-19 pandemic has pushed contract management, procurement, and sourcing professionals into uncharted waters regarding their business operations.  Organizations need to quickly find ways to cut contract-related costs and save money during times of crisis such as pandemics, economic recessions, company acquisitions/mergers, and downturns in business.  CobbleStone Software’s Contract Insight can help. Here’s how.

Organizations in the energy industry must manage high numbers of high-value vendor and supplier contracts while remaining compliant and avoiding contract lifecycle bottlenecks.  With increasingly stringent regulatory compliance standards and other regulations put in place by EHS and the EPA, the energy sector encounters a myriad of challenges while trying to ensure full contract compliance while navigating the contract lifecycle quickly and effectively.

With recent developments of the COVID-19 pandemic, cities, counties, and agencies that previously relied on paper RFx submissions from vendors need a way to accept bids electronically.  In this challenging situation, CobbleStone’s electronic sourcing software, which equips organizations with remote bid and RFx management, is the solution.

Manually managing purchase orders, bids, vendors, and contracts can be difficult.  Processes that involve paying per solicitation can become extremely costly.  Limited visibility leaves your organization with an imperfect pool of vendors. Hindrances such as an inadequate sourcing platform, an overly complicated procurement system database, and an inefficient contract lifecycle process can prevent your organization from properly administering its contracts.  An effectual source-to-contract process is the solution to the abovementioned issues.  CobbleStone Software’s Contract Insight can provide that solution.

When purchasing and implementing a new product or service, you want to rest assured that you've chosen an option that will maximize the benefits for your organization.  In the case of contract management software, the decision to make a change often stems from inefficiencies with an organization's contract process.  Thus, the pressure is on to make sure that your organization is attaining the highest possible ROI from a newly deployed source-to-contract software.