To alleviate common contracting pain points and achieve significant improvements, you need an effective contract management strategy. We’ve broken down this strategy into four universal steps. As you roll out your strategy, each step will compound success, capturing more value for your business and getting more of your company on board with the benefits of contract management.
Not every contract is a sales contract, so a contract management system should be able to support any type of contract. While contracts that your sales team is responsible for are critical, buy-side contracts can introduce value to the organization – they have their own unique set of needs and processes.
Request: a business user asks for a contract The first step in the contract process is for someone in the company to request a new contract. In many companies, the request process can be very informal and disorganized. If there are no centrally located or easily accessible templates, it results in outdated contracts used as ad-hoc templates, exposing the company to financial and compliance risk.… Read More »Contract Lifecycle Management definitions (Part 2 of 4)
You might see contract management as something that only pertains to legal or finance. But if you’re responsible for closing deals, you’re more involved with contracts than you realize. Because contracts are binding and govern over 80% of transactions and value, every business should care very much about what they contain. Contracts & Contract Management is The Lifeblood of Companies They outline the rights and… Read More »Best Guide to Salesforce & Conga for Contract Management (Part 1 of 4)
It’s time to streamline and automate the contract renewal process to keep your customers loyal and sales teams efficient. Automated solutions in the Conga Suite will save time, create error-free documents, and ensure a better experience for customers as well as your associates. The renewal of contracts with clients is vital to sales volumes (retain customer base) and is an opportunity for sales execs to… Read More »Conga for Salesforce Will Make You a Contract Superstar
Preferred Hotels has a network of over 800 partner hotels where they provide travelers luxurious accommodations and inspiring travel experiences. The company’s membership based-business model requires marketing cooperation with partner hotels which means there are a lot of contracts to manage. Until recently Preferred Hotels did not have contract automation systems in place to manage contract renewals, which led to a slow contract renewal cycle.… Read More »Real-life Case Study to Automate Contract Renewals: Preferred Hotels
The ultimate goal of applying contract AI software solutions to Contract Lifecycle Management (CLM) is to unburden legal teams of time-consuming, low-value, and repetitive tasks. Contract AI is empowers corporate legal teams to accomplish more work, in less time, while still protecting the organization and its customers. As organizations that are behind the curve in terms of technology adoption continue to embrace digital transformation going… Read More »Contract AI Changes the Game for Legal Professionals
Contracts are at the core of every segment of your business because they guide decisions and transactions. They contain more risk and reward than any other part of a business, so high-level contract management is your opportunity to negotiate better deals, avoid precarious clauses, and mitigate risk. Conga’s CLM Takes You to The Next Level Contract lifecycle management helps you throughout all stages of the… Read More »Avoid Paper-chasing & Save Time with Conga’s Contract Lifecycle Management (CLM)
Updates for Managing Your Contracts… Contract terms carry weight only when they are monitored and enforced. An investment into a Contract Management solution saves organizations millions of dollars every year in lost revenue, potential opportunities, rebates and more. The challenge lies in sifting through a range of contract management solutions to determine the best fit. Conga’s Contract Management System allows companies to manage complicated contracts,… Read More »The Conga Contract Management System in 2022