CobbleStone Software has published a free guide highlighting the 8 stages of the contract lifecycle and their importance in regard to approaching the contract administration process.
PRINCETON, NJ (MARCH 20, 2023) - CobbleStone Software – a recognized Leader in contract lifecycle management (CLM) according to the SPARK Matrix™ 2022 report – has released a comprehensive guide detailing the different stages of the contract lifecycle and how they help pave the way for efficient contracting.
Contracts are legally binding and leave a lot of room for error. As such, it is important to make sure that they are executed properly.
The contract “lifecycle” is an archetype used to compartmentalize and understand a contract’s complex evolution. The lifecycle begins with requests and ends with the possibility of renewal. The 8 stages are as follows:
- Contract Requests
- Contract Authoring
- Contract Negotiations
- Contract Approvals
- Contract Signatures
- Contract Obligations
- Contract Compliance
- Contract Renewals
Centralizing all 8 stages efficiently makes for a cohesive and streamlined contract management process.
Click here to read the full guide!
“Contract managers are under increased pressure to simplify the process with which a contract is authored. reviewed, signed, and executed," says Bradford Jones, Vice President of Sales and Marketing at CobbleStone Software.
“This immersive guide serves to inform contract professionals how contract management can be compartmentalized in 8 distinct stages for contract success.”
Contact CobbleStone Software to schedule a free demo.
For more information, email Sales@CobbleStoneSoftware.com or call 866-330-0056.
About CobbleStone Software:
CobbleStone Software is a celebrated leader in contract management software solutions whose flagship CLM software solution – CobbleStone Contract Insight – expedites contract management, vendor management, eProcurement, and eSourcing processes while offering seamless integrations, ease-of-use, and high scalability. CobbleStone's contract lifecycle management solutions provide simplified contract and vendor tracking, highly configurable email alerts, user-friendly calendar notifications, intelligent contract workflow automation, highly robust security options, streamlined authoring of contract templates with dynamic clauses, centralized revenue/cost management, detailed text indexing and searching, future-minded vendor/client ratings, robust document version control, custom contract management reports, speedy IntelliSign® electronic signatures, more intelligent contracts with VISDOM® artificial intelligence and machine learning, and more.
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