In today’s fast-paced business landscape, organizations are seeking ways to optimize their contract management and procurement processes. Manual, paper-based methods are becoming outdated as digital solutions offer increased efficiency, transparency, and collaboration throughout the entire lifecycle of contracts. The shifts occurring in legal operations supports the benefits of adopting digital tools and technologies like contract management and procurement software.
Organizations are recognizing the limitations of manual processes and turning towards digital contract management software and procurement solutions. By digitizing these operations, businesses gain a multitude of advantages. They can streamline workflows, eliminate paperwork, and significantly reduce administrative overhead. The ability to access contract data anytime, anywhere, empowers teams to collaborate effectively and make informed decisions in real-time.
CobbleStone Software, the Trailblazer in Contract Management and eProcurement, has garnered widespread recognition for its cutting-edge software solutions. Backed by third-party analysts and endorsed by esteemed C-Suite executives, CIOs, corporate counsel, and top-tier professionals, CobbleStone Contract Insight® is the epitome of excellence.
With the versatility to be hosted as a cloud-based Software-as-a-Service (SaaS) or deployed on corporate clouds, this contract software has become the go-to choice for thousands of organizations in public and private sectors. Embraced by the legal operations community, CobbleStone Software stands tall as an esteemed and reputable industry leader.
Simplifying Contract Collaboration
To effectively adapt to the evolving digital transformation in legal operations, CobbleStone consistently updates and introduces new features to CobbleStone Contract Insight. A recent demand from contracting professionals has been for a simpler method to make changes and collaborate on contracts. In response, CobbleStone has developed CobbleStone Auto-Redline to meet these needs.
CobbleStone Auto-Redline offers automated integration of clauses from approved clause libraries, ensuring the inclusion of favorable clause language. Users can take advantage of the following functionalities:
- auto-redline documents ad-hoc or upon upload.
- quickly see and manage automated redlines and comments with comprehensive audit trails.
- work within both CobbleStone’s native online document editor and MS Word
The Visionary
Mark Nastasi, the President and founder of CobbleStone Software, holds more than 20 years of industry experience. In 1995, he introduced the first commercial contract software called CMTS (Contract Management Tracking System). Throughout his career, he has collaborated extensively with corporate counsel, general counsel, paralegals, lawyers, and more in various industries. His expertise has been instrumental in enhancing contract management practices and assisting these entities in achieving improved contract management efficiency.
Empowering Clients for Success
CobbleStone is committed to empowering clients in achieving remarkable success in legal operations digital transformation. Through continuous technological advancements, data optimization, streamlined processes, and business expansion, CobbleStone enables clients to harness the full potential of contracts and contract processes using modern tools.
A key catalyst for digital transformation is enhancing the user and customer experience, and CobbleStone has excelled in adapting to industry demands in this regard. By offering comprehensive implementation services, dedicated user support, self-service customer assistance and documentation, and immersive training events, CobbleStone presents clients with an extensive array of options to drive their contract management endeavors towards resounding triumph.
Part of the reason CobbleStone is a best-of-breed provider is that it continues to evolve to provide higher efficiency and efficacy to clients. Th team evolves CobbleStone’s technology. The company states, “We maximize data protection and management for our clients. We provide ever-increasingly efficient process improvement. We provide business growth by reducing costs and increasing revenue.”
Customer-Centric Offering
CobbleStone employs multiple channels to understand and fulfill the needs of its customers. One such avenue is a robust ticketing, support, and feedback system, allowing clients to directly engage with the CobbleStone support team. By prioritizing customer needs, CobbleStone incorporates direct feedback into software updates and new version releases, continuously evolving the product.
In addition to this direct form of customer feedback, CobbleStone conducts regular customer satisfaction surveys to gather feedback and identify areas for improvement. Furthermore, CobbleStone diligently analyzes third-party assessments, user reviews, industry events, forums, and other sources to obtain a comprehensive understanding of the most critical requirements of contract managers.
By leveraging these diverse feedback mechanisms, CobbleStone ensures a customer-centric approach, delivering software solutions that align closely with the evolving needs and expectations of contract managers.
From Incident to Innovation
With over 20 years of experience, CobbleStone’s journey began in response to a significant incident where a prominent company breached an agreement, resulting in a costly dispute settlement exceeding two million dollars. This event served as a catalyst for the creation of CobbleStone’s objective: to assist organizations in avoiding the pitfalls of agreement violations and provide a superior approach to contract and obligation management.
Since then, CobbleStone has evolved into a comprehensive solution that enables organizations to take a proactive approach to managing the complete contract lifecycle. It goes beyond reactive measures aimed at mitigating worst-case scenarios. CobbleStone empowers organizations to effectively manage risk variables, leverage analytics, and navigate the complexities of contracts with foresight and strategic planning. By doing so, CobbleStone equips organizations to optimize their contract management practices, minimize potential risks, and maximize value throughout the entire lifecycle of their contracts.
Commitment to Technological Advancements
In order to maintain a competitive edge, CobbleStone continuously adapts to technological advancements, economic shifts, and changes in the business landscape. The company remains committed to meeting its clients where they are, prioritizing direct relationships and communication with users. To this end, CobbleStone regularly releases significant version updates throughout the year, consistently introducing new features that streamline contract processes, minimize challenges, and mitigate unnecessary risks.
The latest update from CobbleStone introduces a range of user-friendly Contract Lifecycle Management (CLM) tools. These tools include an intuitive and expandable core user interface, automated contract redlining for improved drafting and negotiations, proactive recommendations for effective contract metadata management, insightful contract data extraction summaries utilizing VISDOM® contract AI, and a concise yet detailed analysis of clause extraction similarity to ensure consistency of language for specific contract clauses. These are just a few examples of the extensive enhancements.
CobbleStone is particularly mindful of clients’ desire to automate previously manual processes, allowing users and decision-makers to focus on more strategic aspects of legal operations. By consistently delivering innovative features and functionalities, CobbleStone enables its clients to optimize their contract management practices and achieve greater efficiency in their operations.
Way to Innovative Entrepreneurship
Mark’s advice to aspiring entrepreneurs is to actively seek out and even anticipate a need in the market that currently lacks a viable solution. The key is to identify a problem or challenge and position oneself as the one who can provide the solution. By addressing unmet needs and solving problems, entrepreneurs have the opportunity to create value and carve out a unique position in the market. This proactive and innovative approach can lead to the development of successful ventures that effectively meet the demands of customers and make a meaningful impact.
Million-Clause Initiative
CobbleStone has embarked on an ambitious initiative known as the million-clause initiative, aimed at enhancing and nurturing its proprietary contract artificial intelligence engine, VISDOM® AI, through machine learning. The goal is to build an unparalleled repository of real-life clauses, totaling 1,000,000, which will strengthen the capabilities of VISDOM AI. This extensive knowledge base will include not only over 140 standard clauses but also a wide range of industry-specific and uncommon clause categories tailored to organizations’ needs.
Currently, CobbleStone has already amassed an impressive collection of over 750,000 clauses. In the near future, CobbleStone users will gain access to the power of VISDOM, an AI engine equipped with machine learning capabilities, which will have learned from a vast pool of 1,000,000+ real-life clauses. This development positions VISDOM as an automated legal expert that clients can leverage to enhance their contract management processes and make informed decisions based on a wealth of accumulated knowledge and insights.
Vision for Contract Management Excellence
As a visionary leader, Mark envisions CobbleStone as a company that will always adapt to the evolving needs of contract management. He firmly believes in following the advice given to budding entrepreneurs, which is to anticipate and fulfill market demands.
In concrete terms, CobbleStone has plans to further enhance and optimize its auto-redlining functionality, aiming to make it even more standardized and user-friendly. Additionally, CobbleStone is eagerly anticipating the widespread utilization of its upcoming million-clause repository. This comprehensive collection of clauses will serve as a robust foundation for users, empowering them with the necessary tools for effective contract negotiation and management.
By staying attuned to market trends and continuously innovating, CobbleStone strives to be at the forefront of fulfilling the evolving needs of contract management professionals, ensuring that their software solutions remain relevant, user-friendly, and aligned with industry requirements.
