Contracts have a long history of documenting a mutual commitment. As legally binding documents that establish the most fundamental parameters of business relationships, the process of creating contracts is fraught with delays, as terms are checked and double checked to ensure clarity of needs and expectations.
Sales teams want to close deals, and are understandably frustrated with barriers to closing the deal. As you might expect, those companies that have enabled their sales teams to move deals through the contracts process are seeing better results.
High performing sales teams (defined by Salesforce Research as those who make significant year over year revenue growth) benefit from an environment that facilitates their success.
So how can a company accelerate sales?
Empowering sales teams – Although it is a truth universally acknowledged that sales teams today must provide an exceptional customer experience, they can only provide that (and keep up with their quota across many, many customers) if they are empowered to move the sales process forward.
Automation of manual processes – With sales teams spending so much time on non-selling activities, automation is critical to enable sales to achieve and surpass quota. This means using solutions that are simple, fast, and increase efficiency over the old way, making it worth the effort for sales teams to learn and adopt them.
Keeping it all in your CRM – Many sales teams don’t need complex contract management features, nor do they need a highly engineered Contract Lifecycle Management solution that keeps contract data outside of their CRM. In addition, there are numerous advantages to keeping contracts within Salesforce, including improved efficiency and visibility into the contract process.
Understanding how to harness automation solutions that empower your sales team is a critical step in optimizing the contracts process. And there are many benefits, including improved efficiency, accelerated revenue, and better compliance. Most of all, a streamlined contract process gives your sales organization time to focus on its core strengths of building relationships, educating the buyer, and making the sale.
To learn more about the downside of manual contract management processes and the results of improving versioning, redlining and contract visibility download the full eBook now.