Contract Insights

With new advancements and options for effective contract management continually evolving, we’ve detailed five essential contract management tools contract managers must empower themselves with to navigate the ever-changing landscape of contract management best practices going forward.

Contracts can be a headache. They're the backbone of any business relationship, but when contracts are poorly managed, the ripple effect can be significant. Things can go south either before or after contract signing if you're not careful. Poor contract management can lead to various consequences that can cost your organization money, time, and reputation. Let's explore these consequences of poor contract management and how to avoid them.

Generative AI is a game-changer for contract management. It addresses many challenges that traditionally stall or slow down the process. By using generative AI to quickly generate clauses, you can ensure consistency and significantly reduce errors and omissions. Chatbots offer real-time assistance, answer queries, and guide you through complex aspects of contract lifecycle management. AI-driven risk analysis identifies potential issues in contracts and enables you to proactively address risk before it becomes untenable. To that end, let's explore how CobbleStone Software's VISDOM+ - built on OpenAI - can help you manage contracts faster, more accurately, and more confidently.

Legal operations success often hinges on the strength of your relationships. You probably work with many vendors, clients, or partners, and one key aspect of those relationships is the contract(s) that bind them. These contract relationships set the tone for how you collaborate, communicate, and execute obligations with your counterparties. As such, let's explore contractual relationships and their importance.