Contract Insights

The chess-like, back and forth nature of contract negotiations can create confusion and contract lifecycle inefficiencies.  Without a centralized and well-organized system, organizations on both ends of the contract management chessboard become trapped, halted, and unsure of where they should move their next piece.  A centralized, well-organized process can get the match moving again.  Discover how contract management software can streamline contract negotiations.

Contract writing is an essential phase in the contract lifecycle.  During the contract writing stage, contract parties put the terms of a contract into written copy.  Inefficient contract writing processes often rely on scattered clauses, poor compliance management and version tracking, insufficient line item management, and a lack of unified contracts and subcontracts.  These processes can lead to an organization that is hindered by error-prone contracts with missing clauses, missed key dates and milestones, and a decentralized process that impedes the contract lifecycle.

Before a contract becomes legally binding, both parties often take part in a formal negotiation process, creating a back-and-forth hassle in order to come to terms on the agreement.  The well-known "track changes" tool in MS Word makes contract modifications and amendments easy to create, review, and accept or decline because of the redlining feature it provides.  However, version control becomes an issue when negotiating because both parties may be working on separate computers in different locations.  Documents get saved locally and can often get lost, resulting in more work for you or your counterparty.  To avoid possible issues like lost document versions and process bottlenecks, CobbleStone offers an integrated MS Word plug-in to keep the process simple for everyone.  

Learn how to use CobbleStone's MS Word utility tool in combination with their award-winning contract management software, Contract Insight®.  Users have full document version control and never have to save files to their desktop because everything is stored in Contract Insight.  Not to mention...CobbleStone's MS Word File Utility tool is FREE with our software!

In the business world, every professional is aware of what “workflow” is. Contract approval workflow, from the outside looking in, is just a giant chart of approvals and signatures that makes us all wonder, “Is all of this really necessary?” Of course, workflows are essential to keeping the buoyancy in every organization around the world. Processes must be followed in order to keep consistent, optimal production levels.