Most companies consider contracts to be critically important to their business, yet over 85% of companies manage some or all of their sales contract process manually according to an Aberdeen benchmark survey. Aberdeen also pointed out in a separate report that 18% of the sales cycle is spent managing documents.
Even with Salesforce CPQ, sales teams waste valuable time creating proposals and contracts, and managing those documents manually through internal approval cycles. This lack of automation also leads to increased risk. In a survey from Paystream Advisors, 64% of companies indicated that they were challenged with maintaining consistency in contract terms.
With the level of automation and resulting improvements in speed and accuracy that result from the assembly of a quote in Salesforce CPQ, the automated generation of a document from a quote, just isn’t enough.
That’s why we’ve identified 3 key roadblocks to a fast, streamlined contract process in Salesforce CPQ and how to eliminate them.
- Make document authoring and modifications easier
The interface for legal teams managing templates and the terms library in Salesforce CPQ can be cumbersome for legal departments, and it’s not much easier for salespeople who need to modify templates.
- Simplify management of multiple version through approvals
Once a document is generated, it’s up to the salesperson, contract managers, and legal to coordinate changes and track the versions. It’s not uncommon for version issues to force rework and extra time and confusion into the process. Let’s face it, the desktop is not where you want to do version control for contracts.
- Automate terms changes back into Salesforce CPQ
Salesforce CPQ provides a very useful feature to track changes in standard terms along with the quote. Unfortunately, once the final form document is agreed upon, it’s a manual cut and paste back into the Salesforce quote to input the changes.
Download our new eBook “Eliminating 3 Roadblocks that Slow Contracts in Salesforce CPQ” to find out how companies can quickly and easily remove these issues and get back that extra selling time to drive more deals.