A new contract lifecycle management (CLM) solution is like winning the jackpot in many ways: sales can speed through their pipeline and close deals faster, legal doesn’t have to provide constant oversight on every contract and agreement, and the overall business functions at a higher level with fewer slowdowns and greater visibility into the contract process.
But that doesn’t mean the new solution will be widely embraced in the beginning. A natural ramping-up period has to occur before users will feel comfortable with it. And there may be people in your organization who haven’t yet bought into its benefits, or have doubts about how it can really streamline their day-to-day tasks. They may see it as adding more to their workload, not less.
Here are five important points to help you talk up your CLM solution:
- Facilitates a move away from busy work With a disjointed, manual method of managing contracts, employees end up spending much of their time stuck on basic administrative tasks instead of focusing on strategy and driving growth. In fact, when a company has a manual system, more than 35% of staff time is spent on tedious, time-consuming tasks according to IDC research. Employees want to do the jobs they were hired for—not excessive busy work. An automated CLM system allows them to focus their talents and passions on real work and leave the filing, scanning, and organizing to the software.
- Connects all departments Sales will no doubt see the benefit of an integrated, automated CLM system, but it might be a harder sell to other departments. The truth is that an integrated system connects everyone and helps each team do its job better. Working from the same data, sales and legal can negotiate, update, and approve contracts more quickly, while finance can analyze mission-critical information and run accurate reports. Additionally, customer support teams can benefit from increased transparency, making it easy to see the terms of each customer’s contract so they can provide the appropriate services or touchpoints.
- Improves speed and accuracy Without an automated CLM system, sales reps are often pushed to the limit trying to manage the needs of numerous accounts. Switching between Salesforce, email, and other programs eats up valuable time that could be better spent engaging with customers, and cutting and pasting information naturally invites errors. An automated CLM system not only makes it easier to get work done and avoid mistakes, it can also detect inconsistent data, track all user activity, and give a real-time view into where contracts are in the process. When departments can access up-to-the-minute data with full visibility at every stage, everything else follows: faster contract creation, negotiation, and approvals, and less chance of making a bad impression on customers.
- Increases productivity Recent surveys from Microsoft and Goldman Sachs found that companies with good contract management have 60% faster contract cycles (Microsoft) and 50% faster negotiations (Goldman Sachs). When there is this much room for improvement, your organization will have a harder time pushing back on a new CLM solution. The bottom line is that every business benefits from being more productive. An automated, integrated CLM system drives more sales by generating contracts faster, tracking renewal opportunities, and surfacing gaps or inefficiencies in current contract processes—all of which lead to increased revenue and growth. And greater growth cycles back to employees in the form of wage raises and other perks.
- Enables more satisfied customers In a connected world with so many tools and devices, the last thing a customer wants to do is download and learn yet another new tool just to sign a contract. Lack of seamless digital signature capabilities leads to stalled deals and annoyed customers. An integrated CLM system provides end-to-end contract management with eSignature, such as Conga Sign, built right in. Designed to work seamlessly with Salesforce and other programs and to be accessible from any desktop or mobile device, customers can easily move through negotiations and finalize and sign contracts without ever leaving the Conga environment.
The benefits don’t stop there
If your organization still isn’t convinced, download our eBook to learn more about how teams across the business can accelerate contracts and adopt digital signatures as part of Conga’s seamless, closed-loop CLM solution.