Close Deals Faster: How CLM Software Boosts Sales
Automating the contract process helps sales teams get the signature.
You’ve got to equip your sales team for success—and modernizing your contract process with contract management software is an easy way to instantly empower any customer-facing sales department.
The proof: Organizations with a cloud-based contract lifecycle management (CLM) platform shorten their contract approval time by 82% and reduce the sales cycle by 24% (Aberdeen). Ultimately, a well-oiled sales cycle means a highly profitable company.
We’ve all seen the signs of exhaustion when contract creation and back-and-forth negotiations go on and on. Providing a faster contract process that helps Sales close more deals, a digital CLM can be a game-changer for any business. Everyone wants to get the signature without spending too much time, because contract efficiency equals increased revenue.
“Before Concord, it typically took us several days to get an agreement signed—and after Concord, it’s as little as 24 hours,” says Sean McGill, U.S. business director for 90 Seconds. “Globally, I think we’ve been able to reduce contract spending costs by at least 50%.”
90 Seconds is a video production platform with more than 3,000 clients using its services to create high-quality videos for brands around the world. Executing about 1,000 contracts per month, it’s implementation of CLM software has been a big lift to business.
Automating the high-volume contract process with CLM software has boosted sales by standardizing document templates, eliminating back-and-forth emailing, and syncing contracts with Salesforce. At the end of the day, a faster time-to-signature frees up Sales to nurture potential clients and create more partnerships.
Plus, when the contract process is simple and streamlined for all parties involved, clients are more likely to renew, expand, and refer your business. An all-in-one CLM supports simplicity by enabling transparent online negotiations, shared access to a document stored in the Cloud, and convenient e-signatures.
It doesn’t end there. Automated renewals and deadline alerts lead to continued revenue long after that first deal has been won. With digital contract management increasing renewal rates by 25%, the sales benefits will keep coming in.
Contracts are a universal necessity within every business—spanning all departments, not just Legal. Leveraging technology and automating the contract process can take a company to the next level by adding efficiency, security, and transparency.
For Sales, CLM software means sealing the deal sooner and more securely. Time wasted goes down—bottom line goes up.
Concord’s mission is to help companies achieve scalability and efficiency by automating their most central process, contracts. The award-winning cloud-based solution designed for easy adoption enables over 300,000 users around the globe to create, collaborate, sign, store, and manage their agreements all in one place. Founded in 2014 and headquartered in San Francisco, Concord is built by business, for business.