5 Ways to Make Sure Your Enterprise Sales Contracts are Efficient

By Concord Editorial   Nov 8, 2017
Enterprise sales contracts represented by person writing out workflow

We’re more than halfway through Dreamforce and sales is on our mind! On Monday we covered how to scale sales as a small business grows; today we’ll look at how you can continue to refine and improve your sales process from an enterprise perspective.

With more websites than you could ever hope to visit, constant advertising, and a plethora of choices, buyers are more knowledgeable than ever before. For larger companies, this is often why getting a customer to actually commit to the final decision can be the hardest part. Other options are continuously arising and a flashier ad can sway a buyer in a different direction, regardless of the product’s quality. Even if a customer is almost ready to finalize the deal, any sort of delay can make room for the competition to come in and take the deal.

Even if sales teams are well aware of this problem, that doesn’t mean it always gets solved. Often in larger companies, hiring more sales reps becomes the answer. But what if there was a more effective way to close more deals without just hiring more people? The good news is that there is! The key to closing more deals isn’t working more or having more people working, it’s working smarter.

This is where the right technology comes into play. By figuring out exactly what your sales team’s pain points are, you can eliminate the slowdowns and bottlenecks that they experience in the sales cycle. There are five key things that will help your sales team move past bottlenecks and work more efficiently when they’re creating contracts: integrations between platforms, easy access to templates, redlining within the platform, real-time conversation and editing, and approvals. In short, a contract management platform.

Especially in larger companies, getting the right version of a template and reaching the point of signing a deal with the correct approvals can often be the hardest part. Enter the contract management platform. If you truly have a full lifecycle management platform, not just a location to store contracts, technology should start with your CRM. Your contract management platform should integrate with your CRM so you don’t lose valuable time moving back and forth between systems. Directly from your CRM, you should be able to choose a preapproved template and go straight into the negotiation process with your people, processes, and tools in one place.

Once the negotiation begins, you need to make any back-and-forth as simple as possible for both sides. In the past, a third party would have downloaded a document, redlined it, and sent it back. This can add significant time and can make version control a nightmare. In-platform redlining solves this problem by keeping everything in one place. Having all edits, conversations, and suggestions in the platform without ever going offline or uploading a new copy of a document saves valuable time on both sides.

Now that a document is almost finished, who gets the final say? Before contract management platforms, there were long email chains and paper copies that could be a security risk or simply get overlooked. With approvals in your system, it only takes a few clicks for the contract to be ready to sign.

The key to maintaining your quick sales turnaround in an enterprise company is to have all these features right within your contract management platform. By choosing a platform that works with your CRM and has the right tools, you have a scalable tool that can solve your biggest business challenges.

We’re having a great week at Dreamforce sharing our story and discussing our exciting integration with Salesforce! We’re looking forward to helping sales teams work faster, smarter, and even more efficiently. Stop by booth #1956 in the expo hall at Dreamforce to say hi and find out more about how you can make Concord and Salesforce work together for your company.

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