Contract Insights

Managing contracts can be challenging for legal, procurement, and contract management professionals, especially when primarily relying on outdated processes.  Managing the contract lifecycle from requests to renewals can prove challenging with spreadsheets, emails, filing cabinets, and other disparate tools and systems.  Without accountability, visibility, a clearly defined process, and actionable insights, organizations can find themselves running into compliance issues, not realizing contract value, and encountering other setbacks. 

Did you miss any of our blog posts from September?  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 and procurement best practices by reading CobbleStone’s latest content. 

The strength of an organization’s contract lifecycle hinges on a healthy contract strategy.  An ironclad contract procedure helps departments within an organization come to a universal adoption of contract processes that improve contract performance.  A contract strategy that leverages leading contract management software equips organizations with advanced tools for organized, cost-effective, and efficient contract management.  As such, here is how organizations can employ a winning contract strategy for future-minded, AI-based contract management.

The Financial Accounting Standards Board's – or FASB's – current ruling and guidance on revenue recognition - ASC 606 - may be important from both accounting and legal contract management standpoints.  The legislation applies to organizations required to report revenue as per FASB standards, organizations that have earned revenue over time, and organizations that have earned revenue when goods and services are delivered or performed.  Discover how leading contract management software – which assists many legal and accounting professionals - can help organizations remain compliant according to the FASB's Accounting Standards Codification (ASC).