Is Your Sales Organization Spinning Up a Contract Management RFP? Here's Who Should Be Involved in the Selection Process
Is your sales organization spinning up a contract management RFP?
When an executive team comes together to pick an enterprise contract management vendor, each will bring a unique set of needs to the table. Here is a roster of who should be involved in the selection process, and what they need out of a contract management system.
Chief Revenue Officer
The Chief Revenue Officer needs visibility and ease from the contract management system. They want to be able to quickly search across contracts, including contract metadata, to understand where revenue is being generated—and where it's not. They may also want to be alerted when certain rebate or incentive language shows up in a contract draft. Meanwhile,they also want faster contract turnaround time, but don’t want a system that will burden their sales team with more paperwork. They want a contract management system that lives in their customer relationship management system and allows sales reps to self-service contracts.
General Counsel
The General Counsel needs a system that gives them control over who can do what with contracts in the enterprise. They want to allow sales reps to self-service standard contracts, since it means less work for them, but they have to know that there are strong sideboards, and that high-risk deviant clauses will get escalated for review.
Chief Financial Officer
The Chief Financial Officer is responsible for managing risk in an organization. For this reason, they will want an enterprise contract management system that provides visibility into terms and clauses and strong controls against language that puts the company at risk of regulatory fines.
Chief Information Officer
The Chief Information Officer wants to know that the solution is secure and can be easily deployed on the company's IT infrastructure.
How ICM Meets the Needs of Everyone in the C-Suite
The Icertis Contract Management platform is intelligent, easy-to-use, and enterprise-wide.
Because ICM is an enterprise-wide solution, every stakeholder in the c-suite can have their unique contracting needs met.
Chief Revenue Officer
The Chief Revenue Officer will gain far greater visibility into the contracts being executed by the sales team. This means a better understanding of where revenue is coming from. The CRO can also deploy rules into the system that trigger reviews of sales contracts if certain terms are included. And thanks to integrations with Salesforce and Microsoft Dynamics, they can rest assured that their team won't be burdened with a program that forces them to switch screens to complete contracting tasks, while also being empowered to author their own contracts for quicker turnaround. They also know sales reps will be able to track contract performance after they are executed to encourage service-level agreement fulfillment and prevent unwanted expiries or renewals.
General Counsel
Using ICM's robust clause and template library, the legal team can dictate what language is used in contracts, meaning better compliance.
Chief Financial Officer
The CFO will also gain far greater visibility into contracts, meaning a superior ability to manage risk. Governance is simplified as all contracts are stored in a central repository, and can be searched across all data fields, including metadata.
Chief Information Officer
The CIO will benefit from a platform that can be deployed in weeks, not months, and that is built Microsoft Azure's secure cloud infrastructure.
To learn more about how Icertis solves the most-difficult sell-side contract challenges, download our free eBook, The Definitive Guide to Sell-side Contract Management.