By keeping our ears perked for industry demands and pushing ourselves to offer features unlike others on the market, we retain our positioning as a leader in the CLM software space: Mark Nastasi of CobbleStone Software

CobbleStone Contract Insight^® offers users in-depth access to contract management. 

Mark Nastasi, founder and CEO of CobbleStone Software, established the company in 1995, positioning it as one of the earliest and most seasoned providers of contract management software. The need for developing a robust contract management solution arose from a significant incident where a leading company violated an agreement, resulting in a costly settlement. This pivotal moment inspired CobbleStone Software’s mission to help organizations avoid violations of agreements and offer a better solution to manage contracts and obligations. Over the years, CobbleStone^® has achieved global expansion, consistently incorporating innovative features and tools into its continually evolving contract management software.

CobbleStone is headquartered in New Jersey.

The Silicon Review reached out to Mark Nastasi for an interview, and here’s his response.

Interview Highlights

Q. As a global provider of enterprise CLM and eProcurement software, what are CobbleStone’s key focus areas?

CobbleStone Contract Insight offers users in-depth access to contract management. Users are able to configure their systems to their liking and have access to innovative features such as document collaboration, electronic signatures, data integration management, contract authoring system, and VISDOM AI^®—our proprietary artificial intelligence and machine learning engine.

Q. What more can you tell us about CobbleStone Contract Insight^®? How effectively does it meet the needs of your clients?

CobbleStone Contract Insight is configurable to user preference and effectively meets the needs of organizations. Contracting professionals are able to do everything from drafting, executing, and renewing contracts all in one hub. CobbleStone Contract Insight provides an in-depth level of process flexibility with a centralized location for contracts, agreements, committals, risk documents, and obligation records. It also provides contract request tracking, contract reporting, and analytics, and allows users to collaborate with counterparties easily. All of these features are seamlessly integrated throughout the system for the convenience of contracting professionals.

Q. What strategies do you have in place to encourage innovation in your company?

We at CobbleStone are very involved with industry and market trends and always aim to provide solutions to evolving problems that those in the contracting fields face regularly. By keeping our ears perked for industry demands and pushing ourselves to offer features unlike others on the market, we retain our positioning as a leader in the CLM software space.

Q. Can you provide us with one or two success stories, detailing specific client challenges and how CobbleStone’s solutions contributed to their success?

In one instance, Intarcia Therapeutics needed contract management software that would be able to conquer some of the ongoing issues that they were facing daily. A few of the main challenges that they were faced with were that they currently had a manual contract lifecycle and request process, i.e., email, file/print server storage, there was no real-time visibility into any vendor or contract process, and they were looking for a web-based system with enhanced capabilities to tailor towards their business needs.

Intarcia Therapeutics chose CobbleStone Software Contract Insight^® Enterprise for its robust and extensive functionality, as well as its intuitive user interface. The Sr. Director of Enterprise Applications at Intarcia Therapeutics stated, “CobbleStone is specifically designed as a CLM with extensible and scalable functionality. CobbleStone’s product value has far exceeded that of any competitor.”

CobbleStone’s Contract Management Software alleviated Intarcia Therapeutics’ contract lifecycle issues. Using CobbleStone Contract Insight, Intarcia Therapeutics now has a solution that is able to encompass the functionality that they were looking for in contract management software, including contract status visibility, approval ticker alerts, and user dashboards. The Intarcia Therapeutics Sr. Director of Enterprise Applications was also delighted with CobbleStone’s implementation services and stated, “Great training and overviews. Additional follow-up and instructions were accurate and efficient. Online documentation was also accurate and easy to follow. Overall, outstanding experience and very stable product.”

Tell us what’s next for CobbleStone Software.

One exciting, forthcoming event is the completion of our million-clause milestone. This initiative is focused on developing our VISDOM AI engine with a library of over one million common and situational clauses.

The goal is to create a system that can intelligently analyze, sort, and provide insights into a vast number of clauses, enabling users to streamline their contract creation and overall lifecycle management processes. By utilizing machine learning, natural language processing, and named-entity recognition, CobbleStone’s clause recognition and clause library processes are simplified, complete with auto-redlining. 

Q. Is there anything you would like to add before we wrap up?

We encourage organizations of all sizes and industries to consider CobbleStone, as we have been a game-changing resource, offering in-depth access to contract management. CobbleStone Contract Insight’s experience is like having an extra team member that works for you 24/7, helping ensure nothing falls through the cracks.

Contracts are extremely important for your organization’s bottom line, reputation, and business relationships. We are excited to see how our dedicated and hardworking team will continue to innovate and help navigate the complexities of contract management with even greater finesse in the future. Special thanks to the CobbleStone team!

Mark Nastasi | Founder, CEO, & Executive VP

Mark Nastasi has over 20 years of professional experience in the industry. He launched the first commercial contract software in 1995, named CMTS (Contract Management Tracking System). He has worked extensively with general counsels, paralegals, lawyers, and legal professionals to help manage contracts better.

“By utilizing machine learning, natural language processing, and named-entity recognition, CobbleStone’s clause recognition and clause library processes are simplified, complete with auto-redlining.”