Contract Insights

CobbleStone® has released its latest software update - CobbleStone Contract Insight^® Enterprise Version 22.4.0. This new release offers refreshing contract lifecycle management software tools for continuous legal operations success! Read on to familiarize yourself with next-generation contract management software features and innovations to centralize your contract administration processes! Let's get right into it!

1. VISDOM+ IntelliXtract: Next-Level Contract Oversight

Managing contracts effectively means identifying risks, standardizing language, and ensuring key data points are captured - all without spending hours sifting through complex legal documents. With CobbleStone's latest enhancement, Update with VISDOM+ IntelliXtract, we are making this process more intelligent and more intuitive than ever with the power of generative AI!

What's New?

The Update with VISDOM+ IntelliXtract feature integrates OpenAI-powered analysis across CobbleStone Contract Insight, providing users with instant insights into their documents. This tool scans, extracts, and outputs critical elements, including:

• High-Risk Findings: Identifies non-standard language and uncommon clauses, helping users spot potential risks.
  
  
• Confirmed Matches: Pinpoints document elements that align with existing system data, reducing redundancy and improving accuracy.
  
  
• VISDOM Assist: Recognizes key contract data (clauses, counterparties, locations) and suggests seamless integration with existing metadata fields.
  
  
• Sentiment Analysis: Evaluates contract language from the perspective of both counterparties, categorizing sections and clauses as Positive, Negative, or Neutral from both perspectives to aid in negotiations.

Why It Matters

Before, leveraging VISDOM+ was only possible when adding new records. Now, with Update with VISDOM+ IntelliXtract, users can harness the same AI-driven intelligence on existing contracts, promoting agreements that are up to date, risk-aware, and aligned with best practices - all with just a few clicks.

2. VISDOM+ Assist: Enormous Contract Editing Gains

Managing contract language effectively is key to ensuring clarity, interpretability, and compliance. When clicking the AI sparkle iconon a contract record screen, CobbleStone makes it easier than ever to rewrite, summarize, and translate contract clauses and sections with the power of its trusted generative AI-enabled chatbot.

What's New?

This powerful new feature allows users to seamlessly transfer text from Details, Tasks, and Reports into VISDOM+ Assist chatbot, where it can help:

• Rewrite: The chatbot can modify contract language to improve clarity and accuracy while aligning with company standards.
  
  
• Summarize: Generate concise summaries of lengthy or complicated pieces of contract language for quick and clear understanding.
  
  
  
  
• Translate: Quickly convert contract text into different languages to streamline global communications.
  
  

Why It Matters

With this VISDOM+ Assist feature, users can harness AI chatbot-driven language enhancements directly within critical CobbleStone Contract Insight system areas, making contract review and editing faster, more precise, and with greater accessibility than ever.

3. Tabbed Record Details Screens: Intuitive Record Management

Navigating detailed contract records just got faster, more configurable, and more streamlined. With CobbleStone's Tabbed Record Details Screens, users can now organize and access their contract data efficiently and with simpler screen displays.

What's New?

The Record Details screen has been redesigned with a flexible tabbed interface, giving users:

• A More Organized View: Tabs help categorize information, making it easier to find what you need.
  
  

• Configurable Layouts: System administrators can configure tabs to match team preferences and needs.
  
  
• Integrated Dashboards: Users can configure record-level graphical dashboards for data visualization and insights, with out-of-the-box, record-level dashboards coming soon!
  
  
• Persistent Information Side Panel: Key record details stay visible while switching tabs or scrolling.
  
  

Why It Matters

With these new interface refreshments, users can access, manage, and take action more efficiently, leading to faster decision-making and improved contract visibility.

4. Out-of-The-Box Graphical Dashboard: Eye-Catching Insights, Instantly

Managing contracts and requests just got simpler and more visually engaging. With a new, out-of-the-box graphical dashboard, CobbleStone delivers instant insights across the contract lifecycle!

What's New?

• Enhanced Visuals: Get key contract and request data at a glance.
  
  
• Virtually Effortless Navigation: Quickly access and manage submitted records.
  
  
• Optimized for Trial Systems: Trial systems also now include a dedicated default dashboard.
  
  

Why It Matters

With an Out-of-the-Box Graphic Dashboard, every user—whether in a trial system or a live environment—can quickly monitor, manage, and optimize their contracts and requests with minimal configuration required for advanced contract analytics.

5. Field Group Enhancements: Fields Done Faster

Managing field groups just got simpler and more intuitive. With CobbleStone's latest Field Group Enhancement, users can now quickly search, select, and create field groups with ease.

What's New?

• Searchable Dropdown: Quickly find existing field groups without endless scrolling.

• Applies to VISDOM: Field group selection is now optimized within VISDOM Field Recommendations as well for a smoother workflow.

• Quick Field Group Creation: Need a new field group? Simply type the name to continue - no extra steps required.

Why It Matters

With the Field Group Enhancement, users can benefit from faster configurations and improved data organization.

6. Swift New Stepper Process: Easier eApprovals, eSignatures, & Document Templates

Creating and merging document templates just got easier, clearer, and more intuitive. With CobbleStone's Document Collaboration Tab Stepper Overhaul, users can now navigate the document configuration process within a modernized, step-by-step interface - reducing confusion and improving efficiency.

What's New?

• Tabbed Navigation: The old side menu has been replaced with a more organized, easy-to-follow tab system.
  
  
• Step-by-Step Process (Stepper): Users can seamlessly move through each stage of Document Template Configuration and Merged Document Templates.
  
  
• Improved Clarity: Every setup step is now more visible and structured, making the process easier to follow.
  
  
• Faster Access to Key Actions: Easily initiate E-Approvals, E-Signatures, and view Statistics & Logs from the new interface.
  
  

Why It Matters

With the Document Collaboration Tab Stepper Overhaul, users can set up and merge documents with a more structured and intuitive process, leading to faster execution and fewer errors.

7. Ordered Participants: Maximum Approval & Signature Control

Managing approvals and signatures just became more structured and efficient. With CobbleStone's latest enhancement to IntelliSign and IntelliApprove, users can now set the order of participants, promoting a smoother and more organized approval and execution workflow.

What's New?

• Ordered Participants: Assign a specific Order Number to dictate when in the sequence each group receives the document.
  
  
• More Control Over Approvals & Signatures: Virtually ensure that participants review and sign in the correct sequence.
  
  
• Familiar Process Management: It works just like E-Approvals and E-Signatures from a Document Template, now extended to One-Off IntelliSign and IntelliApprove processes from the file's document toolbox.
  

Why It Matters

With ordered participants, users can send documents in a controlled sequence, fostering smoother workflows and faster completion.

8. Vendor/Client Gateway Standardizations: A Uniquely Unified Experience

Managing vendor and client relationships just became more seamless and efficient. With the latest Gateway Standardizations, CobbleStone has aligned the Vendor/Client Gateway experience with the Core CobbleStone Contract Insight System experience, fostering a more consistent and user-friendly interface across both platforms.

What's New?

• Improved Field Editing: When editing fields, users can stay in the same spot on the page, with data simply reloaded instead of refreshing the entire page.
  
  
• Enhanced Password Reset: The reset password function has been reviewed and improved for easier account management.
  
  
• Consistent Look & Feel: The Global Font and Application Theme used in the Core System have been applied to the Gateway, creating a more unified design.
  
  
• Updated Wrapping and Theme: Improvements to wrapping and themes ensure that both the Core and Gateway systems have a consistent visual appearance.

Why It Matters

With Vendor/Client Gateway standardizations, users can experience a more cohesive, efficient, and visually consistent environment, making it easier to manage contracts and vendor/client relationships with minimal friction.

9. Conditional Fields on Vendor Gateway: Excellence in Flexibility

Managing data on the Vendor/Client Gateway just got even more seamless. With the latest update, Conditional Fields configured in the Core System can now be seamlessly used on the Gateway, providing a more consistent and flexible user experience.

What's New?

• Conditional Fields Integration: Users can now apply Conditional Fields in the same way on the Vendor/Client Gateway as they do in the Core System.
  
  
• Enhanced Functionality: The update continues to bridge the gap between the Core System and the Gateway, making critical features available across both platforms.

Why It Matters

This enhancement continues the drive to create parity between the Core System and Gateway, promoting a smoother, more efficient user experience.

10. Defining DocuSign Control: Enhanced Custom Fields

Managing signatures just became more configurable. With the integration of DocuSign Custom Fields, CobbleStone now allows users to tailor metadata for each envelope, providing more control over the information tracked throughout the signing process.

What's New?

• Envelope Custom Fields (ECF): Administrators can now configure custom fields at the object level (e.g., Contract, Request, Vendor) to classify, record, and track envelope details.
  
  
• Custom Fields Integration: These custom fields are mapped to CobbleStone Contract Insight records, virtually ensuring that each envelope reflects the unique information needed for users' processes.
  
  
• Visibility in DocuSign: Once the envelope is sent and completed, the custom fields are visible on the Certificate of Completion, virtually ensuring users have access to the relevant data.
  
  
• Admin Configurable: Custom fields can be configured in the External E-Sign Setup and are accessible via the side menu.

Why It Matters

With Custom Fields, users now have control over which information is tracked and how it is categorized, improving both data accuracy and workflow efficiency.

11. Better Risk Management with OFAC Optimization

Managing compliance just got sleeker and more efficient. CobbleStone's OFAC module has been updated with visual improvements and enhanced functionality, allowing users to manage potential risks and matches more easily.

What's New?

• Redesigned Ratings Card: The Ratings Card has been revamped visually, making it sleeker while still clearly displaying key metrics such as the Maximum Confidence Score and Average Confidence.
  
  
• Side Drawer for Matches: When selecting View Report, potential matches are now displayed in a side drawer for easier viewing.
  
  
• Improved Match Verification: With just a few clicks, users can mark matches as Verified or not a Match from the side drawer.
  
  
• Access Full Dashboard: If needed, users can now quickly proceed to the more comprehensive dashboard for more detailed information on each potential match.
  
  

Why It Matters

The updates to the OFAC module give users better control over compliance and risk management. By improving the ability to verify matches and enhancing the visual layout, users can now make more informed decisions with greater accuracy and efficiency.

Get Going with CobbleStone Contract Insight 22.4.0!

The features and enhancements mentioned above are a mere scratch at the surface of all of the transformative functionality that your team can leverage to succeed in digital contract management and eProcurement procedures.

Get started with CobbleStone Contract Insight 22.4.0 to immerse yourself in all that CobbleStone offers for contract lifecycle management success!  Contact your Account Rep today to see CobbleStone Contract Insight 22.4.0's enhanced functionality for yourself and review licensing options.

Are you considering CobbleStone Software?  Book your free demo today! Would you rather simply try CobbleStone out for yourself? Enjoy a free trial of CobbleStone Software today.

*Legal Disclaimer: This article is not legal advice. The content of this article is for general informational and educational purposes only. The information on this website may not present the most up-to-date legal information. Readers should contact their attorney for legal advice regarding any particular legal matter.