“CobbleStone Contract Insight® CLM software can improve life sciences and pharmaceutical contract management with accelerated contracting and compliance management.”
Pharmaceutical and life sciences organizations have a lot on their plate.
Unfortunately, many organizations lack an efficient process to handle a myriad of contracts, clinical trials, promotions, supplies/goods, regulations, and compliance standards. Consequently, these organizations may leave themselves unprotected from potential increased risk, delays, compliance violations, wasted time, and squandered revenue. CobbleStone Contract Insight® CLM software can improve life sciences and pharmaceutical contract management with accelerated contracting and compliance management.
Under the aegis of Mark Nastasi, Executive VP, CobbleStone Software has been reaching new heights. He holds over twenty years of experience in the contract lifecycle management industry. His entrepreneurial spirit, empathy-rooted leadership, humility, and prioritization of fulfilling clients’ source-to-contract management needs continue to drive CobbleStone’s year-over-year growth.
CobbleStone Contract Insight can empower organizations with improved management of a high volume of contracts, greater control over contract lifecycle management, and reduced cycle times with a more efficient process. With a one-stop solution, organizations can manage increased contract volume and complexity for many contract types, including legal agreements, confidentiality agreements, MSAs, SOWs, research collaboration contracts, clinical trial contracts, consulting agreements, IT agreements, etc. This way, contracts about many different facets of the industry are managed in one secure contract repository.
According to Mark, the pharma and life sciences contract lifecycle can be streamlined with contract management automation for intelligent workflow. Automation helps reduce contract lifecycle bottlenecks by engaging the right people at the right time with nearly unlimited automated alerts, notifications, and task reminders. Organizations can establish a process for data extraction and data mapping, user-defined fields, audit trails, contract process management, advanced reporting, contract analytics, and more. Pharmaceutical and life sciences contract management teams can manage contract authoring, negotiation, collaboration, and electronic approvals with an intelligent workflow process that aids in tracking the stages of the lifecycle. Automated alerts and notifications can help teams keep up with key dates and milestones – up to and including contract renewal opportunities. Audit trail history can offer an easy-to-access, up-to-date record of contract changes. Reports can provide relevant stakeholders and parties with transparency and visibility into essential contract data and performance metrics at a glance.
CobbleStone’s user-friendly, robust, and scalable solution can seamlessly connect with mission-critical applications for unified and seamless contract management. Speedy client adoption rates are a testament to CobbleStone’s unparalleled implementation team that can support the varying configuration needs of clients – as each organization requires unique objectives. CobbleStone system admin users can enter their organization’s vendors, customers, employees, and contracts. For more advanced client needs, with complex business rules, CobbleStone offers professional services to assist with implementation and configuration. CobbleStone Contract Insight can be configured with user-defined fields, workflows, and automated alerts. This helps CobbleStone users configure the system rules to their specific needs, with an implementation team ready to assist in the process. With years of experience working with pharmaceutical and life sciences clients, CobbleStone Contract Insight implementors can anticipate many industry-specific configuration needs.
CobbleStone has expanded its international presence over the years, and they plan on continuing to capitalize on that. “We have an extensive global partner network, offices worldwide, and global data centers for an internationally agile contract lifecycle management software experience. We don’t plan on stopping on any of these fronts,” says Mark. “Additionally, CobbleStone Contract Insight features numerous mission-critical and user-friendly connectors and integrations. In recent years, we have accelerated the offering of such tools, and we only plan on accelerating further into the future of legal operations. As both our native CLM tools and third-party capabilities evolve and increase, we shall continue developing our robust contract lifecycle management offering with clients’ changing needs at the top of mind.”
Finally, Mark and his team look forward to developing their native CLM software tools – such as the online, concurrent document collaboration interface. “We see a bright future in contract redlining and document collaboration with internal and external stakeholders. We plan on expanding this tool and many others for a continued streamlined contract management experience.”