Contract Insights

Did you remember to read all of our blog posts from December? Don't worry; we have outlined each of them for you. Stay up-to-date with industry topics, real-world case studies, and contract management software and procurement best practices in January by reading the latest CobbleStone^® content.

Business Negotiations: 3 Steps & a Winning Strategy

Solid business contracts fuel smooth operations for businesses that meet our demands and innovate for a better world. But what are the steps involved in business contracts? How can businesses form a winning strategy for mutually beneficial outcomes? This blog will explore the three steps of business negotiations along with the strategies and tools needed to succeed.

Signing Contracts: 5 Tips for a Better Process

Signing contracts is important. A signature seals an agreement between parties, legally binds them, and confirms responsibilities. By signing, you confirm that you have read and understood the terms of the contract and are bound to perform your duties as outlined in the agreement. Financial health, legal standing, and reputation are all on the line. Given the importance of signing contracts, you ought to have a healthy and efficient process for doing so. To that end, here are five tips for a better contract signing process.

What is AI-Based Contract Management?

Business automation is already sharpening professional methods across a variety of industries.  However, advancements in artificial intelligence (AI)  can be particularly advantageous as they apply to contract management software systems. Contract intelligence engines built upon a foundation of machine learning just need to be fed a nutritious diet of relevant contract data. Let's explore AI contract management in more detail and learn how to increase accuracy and minimize human error in contract lifecycle management (CLM).

Do I Need a Contract Management System?

"Do I need a contract management system?" This is an important question to consider critically. Although contract management software is a significant investment, the high price of low-cost contract management often outweighs this initial, carefully considered expenditure. What's more, according to Goldman Sachs, an automated contract management system can lower the cost of managing contracts by 10-30%. If managing contracts is a critical part of your organization's operations, consider the following key factors when deciding whether or not you need a dedicated contract management solution.

What Are the 4 Basics of a Contract?

Contracts serve as legally binding agreements that outline expectations, responsibilities, and potential outcomes of a business relationship. Understanding the essentials of a contract is critical for facilitating clear communication and awareness of both parties. But what makes a contract valid and enforceable? What are the four basics of a valid contract? Let's explore those key elements more in this blog post.

Contract Disputes: 5 Ways To Avoid & Manage Them

Sometimes during the contract lifecycle - as in everyday life itself - disputes arise. These contract disputes have the potential to damage business relationships, harm reputations, and cause stress. To avoid these negative effects along with financial losses due to legal fees, operational disruptions, unauthorized disclosures, and delayed project timelines, you ought to consider these five ways to avoid and manage contract disputes.