While most companies agree that their contracts are critical documents for their business, the creation, approval and management of contracts typically remains a manual process. With more companies adopting CPQ tools, the speed and efficiency of the quoting process is dramatically improved, leaving sales operations looking at contract creation and approvals to drive further improvements in sales processes.
Shorten Sales Cycles, Reduce Risk and Improve Customer Satisfaction
Transforming the quote to contract process can yield significant benefits across the company. Sales teams will see shorter sales cycles with less time spent manipulating documents and waiting for approvals. Management and Legal will see more accuracy and lower risk with fewer occurrences of non-standard contracts. And customers will appreciate more efficient and collaborative interactions with their sales person.
When looking to improve the quote to contract process there are 5 essential capabilities that drive big benefits.
- Standardize Documents
Leverage your CPQ solution to standardize documents and let configuration drive document creation.
- Automate. Automate
Eliminate any manual steps in the process, including the need to manage document versions. Automated version control is a big win as contracts go through approvals.
- Leverage Workflow to Avoid Process Bottlenecks
As with the quoting process, contracts also have an approval process. Bringing visibility to the process enables sales to manage sales cycles more efficiently.
- Use Standards like Microsoft Word
The most common and accepted contract document format is Microsoft Word®. Model N brings these essential capabilities into Word.
- Keep it in Salesforce
The more streamlined the process, the easier it is for sales to adopt and use. Keeping the quote to contract process native in Salesforce is a key advantage.
Learn more about how to improve the quote to contract process by downloading the Ebook: 5 Essential Capabilities to Improve the Quote to Contract Process.