Contract Management And Enterprise CRM Go Hand-In-Hand
Business organisations at present are continuing to increase their sales revenue through enhanced performance. Nevertheless, even though there has been an increasing degree of advancement in the realm of sales, intelligent integration of CRM and contract management is not always leveraged.
CRM solutions primarily tackle aspects like lead and opportunities management, sales forecasts, customer data analysis along with dashboard reporting for managerial executives. Linked to this is CLM or Customer Lifecycle Management. The core objective for a CLM is to handle and track the customer lifecycle, amplify the number of conversions, ensure customer retention and more. Several businesses are opting for enterprise CRM solutions.
Implement contract regularisation
When sales processes are integrated with contract management it becomes straightforward to ensure that relevant data is gathered from online request forms. Through automation technology the information collected during the request process can be set into the contract, factoring in all particulars of a company’s rules and sending out the requisite approvals.
Concentrate on core sales tasks
Managers look to speed up sales tasks like emails, data entry, and following up on the status of their contracts to give employees more time in front of customers. Dashboards, collaboration tools, automated workflow approval processes are some of the functions that make it possible for salespeople to spend more time selling.
Adhere to contract commitments
When a company brings in a new customer, they make a commitment to execute the solution based on the stipulations that were recorded in the contract. Thanks to integration, these commitments can be recorded outside of the contract and extended to the party in question in a timely manner, ensuring much-needed adherence to a business’s regulations as well as excellent customer satisfaction.
Integration of contract management modules with enterprise CRM solutions will ensure streamline adherence to contract obligations.
Insight-based decision-making
Furthermore, another perk of contract management integration in CRM is that the contracts agreed on can be recorded in the profile or opportunity record in the CRM automatically, allowing users to locate the data instantly. Though this may come across as a fairly straightforward aspect, a substantial percentage of potential customers call businesses at the start, mainly as they are tasked with creating appropriate contracts while discussions are still going on or in cases where customers voluntarily contact organisations to obtain further products.
Efficiency of e-signatures
Printing out, signing, scanning and emailing contracts among members such as leads or team members, is a tedious process. Thanks to e-signatures everyone involved can sign off on the contract conveniently without delay in just a few clicks. When the whole signature process is kept virtual, salespeople and their leads can speed things up with less effort allowing them process the contracts in an accelerated manner.
With the help of a CRM development company, businesses can build well-integrated modules to enable digital signature tools.
Contract accuracy
Customers expect businesses to not only be genuine with them and to consider their specific needs, but also to be accurate while creating and complying with contracts. Discrepancies in contract information have a harmful effect on a provider’s authority, and can turn out to develop severe issues in the long run. Successful contract management can leverage pre confirmed information to auto populate all the fields, decreasing the possibility of contract inaccuracies.
Take sales outcomes to new heights and handle contract lifecycles with top-notch enterprise CRM solutions integrated with intelligent contract management systems.
