The Silicon Review
“We Stay At the Forefront with a Constant Embrace and Evolution of Contract Automation.”
CobbleStone Software is a leading provider of Enterprise Contract Lifecycle Management (CLM) and eProcurement software solutions for thousands of users. Its software is cloud-based or deployed (on-premise) and used by many leading companies, state and local governments, and other regulated organizations worldwide. The company has been providing contract Software as a Service (SaaS) longer than any other contract platform. CobbleStone is a Federal GSA vendor, SOC 2 reviewed, reviewed by Gartner, Forrester, and Dunn & Bradstreet. It partners with tech giants like Microsoft, Oracle, SAP, Adobe, and Salesforce.
CobbleStone Software was founded in 1995 and is headquartered in New Jersey, USA and has offices around the world.
To highlight and further understand what CobbleStone Software stands for and seeks to explore in this segment, I sat down with Mark Nastasi, who serves as the company’s Executive Vice President.
Below is an Excerpt
Q. When it comes to longevity, CobbleStone Software has it. I find it unique that an organization has what it takes to continue to offer outstanding software solutions for nearly three decades. My question to you is, how did the company continue to adapt?
We at CobbleStone Software continue to adapt with an ever-evolving embrace of digital transformation. We are at the forefront of contract artificial intelligence with our proprietary contract AI engine with machine learning – VISDOM® AI. We streamline signing with our proprietary electronic signature software – IntelliSign®. We continue to evolve our support of online document editing, web-enabled CLM collaboration, and seamless integration with mission-critical applications. These are just a few of the many examples of how we empower legal digital transformation.
Q. What can you tell us about your best-of-breed enterprise contract lifecycle management (CLM) and eProcurement software solutions? And how do these solutions help you to stay at the forefront?
CobbleStone Software’s award-winning solution – CobbleStone Contract Insight® is a seamlessly integrated contract management, vendor management, eProcurement, and eSourcing software solution that centralizes not only contract lifecycle management from requests to renewals, but also vendor oversight, procurement processes, purchasing, sourcing, document management, clause management, risk management, and so much more. Our steadfast dedication to exceeding our clients’ needs is what truly sets us apart.
Q. How does CobbleStone Contract Insight® help organizations better manage their contracts? Please share an overview.
Organizations can better manage their contracts with a centralized and automated solution. CobbleStone supports a fully web-enabled process and intelligent workflow automation so that operations can occur on time with the highest possible ROI and opportunity realization. Online contract lifecycle collaboration and intelligent workflow automation positively transform task management and drastically increase overall organizational accountability.
Q. What are the company’s values? What characteristics do you look for in employees to represent those values?
CobbleStone Software’s ongoing mission is to deliver the most robust, cost-effective, user-friendly, and scalable contract management and procurement management software solutions that enable organizations from various industries to improve their processes. Our products and staff go above and beyond to exceed expectations. We take a pledge to follow our own Code of Conduct. We pledge to respect our clients, our co-workers, the broader community, our environment, and ourselves. We strive to exemplify sincerity, integrity, humility, charity, courtesy, and wisdom.
Q. Trust is one of the most important currencies of leadership that requires authenticity and consistency to maintain. What’s your take on this?
We agree with this definition of trust. This prioritization of trust is why we offer openness regarding our software updates with patch notes and detailed blogs specifying how we continuously improve clients’ contracts, vendor management, procurement, and sourcing processes. We further furnish trust with clients with regular press releases regarding software updates, partnerships, awards, corporate social responsibility initiatives, and more. Trust is at the forefront of CobbleStone’s mission.
Q. Where does CobbleStone Software stand at the moment? And what does it strive to achieve next?
CobbleStone stands proud among contract management software solutions. We were recently named a CLM Leader in The Forrester WaveTM: Contract Lifecycle Management For All Contracts, Q1 2021 report and recognized as best contract lifecycle management software of 2021 by Digital.com. Furthermore, our company was recognized as a top pick in Digital.com’s review, The Best Contract Lifecycle Management Software of 2021. We have also had overwhelmingly positive usability reviews, including Forrester awarding us the highest score possible for our mobile app. We strive to further empower our clients with future-minded CLM tools, introduce more integrations, expand our vast partner network, and more.
Q. From your perspective, how is the industry you serve currently evolving? And what are the trends in the different categories?
Contract management is evolving to embrace the digital transformation of legal operations. The trending demand for web-based contract management tools for remote and online legal operations has increased in recent years, especially in the wake of the global pandemic. Contract AI with machine learning for intelligent CLM and risk management has positively transformed various industry processes. We offer the abovementioned functionality – and excitedly continue to evolve.
Q. Setbacks are a part of every growing business. Tell us about a few roadblocks and learning lessons that have helped the company grow over the years?
While we were already significantly innovating contract automation before the world faced the challenges of COVID-19, we found new ways to increase our remote contract management functionalities. Our software can be leveraged for storing and safeguarding contracts virtually, automating intelligent contract workflows, supporting mobile contract management, seamlessly integrating web-enabled procurement with contract management, streamlining electronic signature and eApproval processes, intelligently searching for clauses, and more.
Q. No doubt, CobbleStone Software is charting new territories in this segment. Given how frequently circumstances change, what plans for transformation are you pursuing to remain relevant now and in the future?
In addition to the circumstances mentioned above, CobbleStone will be charting new territories in ways even we cannot yet predict. The future of contract collaboration is in front of us. Sure, we can wax poetic about all of the current, award-winning tools we offer for AI-based contract lifecycle management, vendor management, procurement, and sourcing operations. However, the future of contract management is excitingly unknown.
We envision a bright future for CobbleStone Contract Insight. That future includes faster clause recognition and CLM tools that help organizations meet their goals more quickly. Additionally, we envision a future in which contract administration tasks can support relevant, assigned personnel being alerted with more intelligent recommendations at the click of a button.
The Visionary Leader at the Helm of CobbleStone Software
Mark Nastasi, founder, serves as the Executive Vice President of CobbleStone Software. He is a Microsoft Certified Professional with years of experience. A pioneer in contract management, Nastasi has implemented contract software for thousands of legal and risk professionals during his tenure with CobbleStone Software and enjoys bringing automation and digital transformation to the legal field.
Mr. Nastasi holds a Finance degree and Management Information System degree from Rutgers University and a Master’s degree in Business Administration from Drexel University.