Contract termination should involve rigorous financial analysis, contract performance data analytics, and the creation of a notice of termination to avoid a breach of contract. Organizations need a strategy to identify contracts not meeting contract KPIs, write contract termination notices, and secure proper contract closeout. This article will show you how to implement this strategy readily with the help of contract management software.
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Contracts are the fabric of business relationships and help bind organizations together. As such, efficient legal payment processing is paramount. CobbleStone Software is often approached by leading organizations of various industries to discuss how they can better track contracts, contract spend (contract expenditures), and contract budget management. The process of managing contract-related fiduciary responsibility is inherently complex. However, it is highly simplified with a comprehensive contract management software system that does much more than provide basic contract management features.
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Ensuring contract compliance can be a complex and time-consuming process if performed suboptimally with outdated and inefficient tools and methods. Furthermore, failures in the contract compliance process can result in costly fees, legal issues, and a jeopardized reputation. You ought to be informed to avoid these disastrous consequences. As such, this beginner's guide will explore the contract compliance process and its significance while providing practical examples and tips to help you navigate it effectively.
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With the advent of innovative technology and the increasing complexity of business transactions, organizations must adapt to changes and ensure that their contracts are well-managed and executed efficiently. In this blog post, we will explore the evolving roles and responsibilities of parties to a contract and introduce a comprehensive solution for managing contracts and party relations in the digital age.
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Meet Jennifer C., the Requirements and Release Manager at CobbleStone Software that has been a member of the CobbleStone® family since April 2019. Recently, we interviewed Jenn about her experience at CobbleStone where she kindly shared some insights into her role as well as advice she has for those considering a quality assurance career in SaaS/contract management software.
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With advancements in automation tools and digitization, the overall modern business environment is fast, to say the least. Legal operations are no exception to this need for expediency. Luckily, contract lifecycle management (CLM) software has skyrocketed in usage as a powerful solution for streamlining the entire contract management process. This quick buyer’s guide aims to support organizations considering CLM software.
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Manual contract tracking processes may suffice for organizations with low contract volume and contract complexity. However, when the number of contracts increases to hundreds, thousands, and beyond, contract failure rates increase exponentially. Read on to learn how to master contract tracking with leading contract management software.
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What are FAR and DFARS clauses? Why are they important? How can you manage and utilize them? Let's explore advanced FAR/DFARS clause oversight and control with CobbleStone Software's contract management software.
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Successful contract management requires you to embrace a centralized and secure process. Manual contract management methods - such as filing cabinets for paper documentation, spreadsheets, emails, and disorganized digital storage – won’t cut it as your contract portfolio grows. Your organization can scrap these outdated methods in favor of something better. As such, here are the benefits of a secure contract repository within leading, AI-powered contract management software.
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Now that you are caught up with our June articles be sure to keep an eye out for our July content. Never miss a blog post again, and let us notify you when new articles are published by subscribing to our blog! No time to read? Then check out CobbleStone's YouTube channel for exciting video content. Be sure to like and subscribe!
Discover why thousands of contract management professionals trust CobbleStone Software for their contract management, sourcing, and procurement needs. Book a free demo with a CobbleStone Contract Insight expert to learn more about CobbleStone's acclaimed contract management, eProcurement, and eSourcing software!