How Contract Management Empowers Sales Teams
When you think of contract management, you might not immediately think of sales teams. After all, aren’t they the ones busy selling? They’re not legal or operations folks who deal with contracts as a common part of their workday. However, if you take a minute to reflect, the deals that sales teams close are codified in contracts. This means sales team are most definitely impacted by contract management. If it’s done poorly or manually, there can be a domino effect, slowing sales cycles and time to revenue.
We talk to sales professionals all the time and frequently hear from them some of the challenges they face that keep deals from getting done faster. They may not know which attorney is working on their contract or whether all the right people have signed-off on the deal. They may not know the difference between business terms, which they can configure themselves, and legal terms, which need input from the lawyers.
No doubt many of these issues have weighed your sales efforts down, and you know there has to be a more efficient way to get the deal done faster. After all, sales is the lifeblood of any company, and the longer the contract stagnates, the slower it is before revenue can be realized. Imagine requesting a contract directly from an approved opportunity or a quote in Salesforce.com and then having real-time visibility into the contract, where it is in the review process, the ability to send to your customer for review, signature, and more. On top of that, what if you could search for a contract like you would in Amazon or Google without having to leave Salesforce?
At Malbek, we feel your pain. We’re so certain of our outstanding contract management solution that we use it to manage our own sales deals and contracting. We “drink our own wine” or something like that! Through a simple and intuitive interface, Malbek Contrax™ has solved the contracting conundrum faced by so many sales teams and made it possible to:
- Close deals faster
- Streamline contract requests from you CRM (like Salesforce.com!)
- Increase contract visibility
- Search for contracts with ease
Sales teams benefit when they can clearly see where the deal is at each stage in the process and collaborate with legal, knowing exactly which attorney is working on their contract. They have peace of mind when they know which terms and clauses they can use without getting into trouble and ensure that the right people have approved the deal. And through tight integrations, such as we have with Salesforce.com, the convenience for sales teams is huge! This type of efficiency makes it possible to get the deal done faster or, as we like to say, “Speed the Green!®”.
