CobbleStone Software explains how to improve contract performance management.
PRINCETON, N.J., Jan. 31, 2025 /PRNewswire-PRWeb/ -- CobbleStone Software – a recognized Leader in contract lifecycle management (CLM) according to the SPARK Matrix™ Report – is excited to share its transformative approach to optimizing contract performance. This strategy enhances compliance, mitigates risks, and drives insights into heightened operational efficiency.
As businesses must ensure contract obligations are met with precision for many contracts of ranging complexity, CobbleStone's latest insights break down contract performance management into understandable, strategic phases.
𝐓𝐡𝐞𝐬𝐞 𝐩𝐡𝐚𝐬𝐞𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:
- Pre-Performance Planning: "Let's review this contract."
- Initiation & Onboarding: "Time to group up and touch base."
- Performance Monitoring: "How is this contract process going?"
- Issue Resolution: "Find the dispute resolution procedures."
- Close-Out & Evaluation: "What can we learn from this contract?"
𝐂𝐨𝐛𝐛𝐥𝐞𝐒𝐭𝐨𝐧𝐞'𝐬 𝐩𝐫𝐚𝐜𝐭𝐢𝐜𝐚𝐥 𝐭𝐢𝐩𝐬 𝐟𝐨𝐫 𝐜𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐚𝐫𝐞 𝐚𝐬 𝐟𝐨𝐥𝐥𝐨𝐰𝐬:
- Leverage Technology
- Train Internal Stakeholders
- Develop a Risk Mitigation Plan
- Monitor Regulatory Changes
- Create a Centralized Repository
- Establish KPIs for Performance
- Foster Strong Relationships
- Document Everything
Click here to really dig into CobbleStone's contract performance management strategy!
"Successful contract performance management is not just about contract execution and completion of obligations," says Bradford Jones, Vice President of Sales & Marketing at CobbleStone Software.
"It's about fostering stronger business relationships and maximizing value across one's holistic contract repository. Implementing a structured approach with the right technology allows organizations to ensure that contracts work for them, not against them."
Contact CobbleStone Software for a free demo.
For more information, email [email protected] or call 866-330-0056.
About CobbleStone Software:
CobbleStone Software is a celebrated leader in contract management software solutions whose flagship CLM software solution – CobbleStone Contract Insight – expedites contract management, vendor management, eProcurement, and eSourcing processes while offering seamless integrations, ease-of-use, and high scalability. CobbleStone's contract lifecycle management solutions provide simplified contract and vendor tracking, highly configurable email alerts, user-friendly calendar notifications, intelligent contract workflow automation, highly robust security options, streamlined authoring of contract templates with dynamic clauses, centralized revenue/cost management, detailed text indexing and searching, future-minded vendor/client ratings, robust document version control, custom contract management reports, speedy IntelliSign® electronic signatures, more intelligent contracts with VISDOM® artificial intelligence and machine learning, and more.
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Media Contact
Sean Heck, CobbleStone Software, 866-330-0056, [email protected], https://www.cobblestonesoftware.com/
SOURCE CobbleStone Software
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