Vendor, customer, and employee compliance management are essential for organizations to maintain adherence to compliance standards, mitigate risk, and uphold their reputation. However, as contract volume grows, it can be difficult for organizations to track the records of vendors, customers, partners, and employees regularly. To achieve and maintain compliance, it is paramount that organizations, regardless of industry, remain aware of violations committed by entities they are performing business with. Such violations include failure to adhere to economic and trade sanctions under The Office of Foreign Assets Control (OFAC). Contract management software with intelligent national sanction compliance checks and risk analysis snapshots can help organizations avoid these issues by providing a comprehensive and centralized OFAC search process. This solution is CobbleStone Software
OFAC Search Made Easy with CobbleStone Software
3 min read
The 8 Stages of the Contract Lifecycle
4 min read
Contracts are legally binding - and thus need to be executed properly. Legal teams should equip themselves with a thorough understanding of the contract lifecycle management process. The contract lifecycle is the process under which a contract is authored, reviewed, sent for signature, executed, and - potentially - renewed.
The "lifecycle" is an archetype used to compartmentalize and understand a contract's complex evolution. The lifecycle begins with contract requests and concludes when these requests are fulfilled - with the possibility of managing contract renewal. Let's further explore the eight stages of the contract lifecycle below and how digital contract management software can help streamline your contracting processes.
6 Vital Government Contract Management Tools for 2024
4 min read
As a government contract manager, it's helpful to stay up-to-date with the latest government contract management, purchasing, and sourcing tools - especially as the industry keeps evolving through 2024 and beyond.
Read on to discover six user-friendly government contract management software tools you can leverage to streamline your public contracting processes.
