NEW REPORT: The State of CLM and AI-Powered Contract Intelligence

Streamlining Your Sales Operations with Better Contract Management Software

By Anand Veerkar

For sales teams, the pressure to meet revenue targets never relents. At the same time, contracts have become more complex. With multiple stakeholders connected by an intricate web of interdependencies, contracts often harbor a great deal of hidden risk.

How can an organization meet sales goals without increasing that risk, or endlessly adding resources to manage the contracting volume? By increasing sales velocity.

Increased Velocity

A manual contracting process delays the sales cycle, increasing the chance that opportunities fail to close, or that revenue will fall short of the goal. The ICM platform is designed to respond to these challenges, streamlining the sales process. With intelligent automation, contracts are able to move through the pipeline quickly, with fewer resources.

The ICM platform speeds up the contracting process in four ways by providing:

  1. A library of approved contract clauses, best practices, and a contract drafting wizard. With these tools, front office employees can negotiate and draft standard, compliant contracts while prioritizing those that need to be routed for approvals.
  2. An internal revision and approval process that can be conducted and tracked through the platform itself, eliminating time-consuming emails and confusing document versions.
  3. Improved visibility into workflows and bottlenecks, which makes it possible to reassign work as needed, ensuring higher close rates and eliminating bottlenecks.
  4. Integration with leading CRM systems, connecting the quote-to-cash and contract management processes. This allows single-click contract creation within the CRM application itself, reducing sales training overhead and eliminating errors and duplication.

These are just a few examples of how the ICM platform can provide the advantages that translate into higher revenue. To learn more about how your teams can create, view, approve and collaborate on contracts within the applications you use every day to accelerate contract flow and move your business forward, visit our Icertis Experiences page.