Sales teams are critical to many businesses' revenue, so empowering your sales people is essential. The last thing sales wants to do is lose valuable time to close struggling with contract documents. It is crucial to employ a contract management solution that automates and streamlines the contracting process by integrating with Salesforce (or whichever CRM your company uses). The outcome will be a smoother experience with drafting, negotiating, and executing contracts.
Account integrity is fully protected, so your sales team can proceed with confidence, and the process is intuitive, avoiding the need to involve the IT team for support. With the click of your mouse, data will flow from Salesforce into a new contract draft, freeing your sales professionals to focus less on contract creation and more on driving revenue for your business.
FASTER DRAFTING TIME
Every minute your sales staff is not actively selling is costing your business potential revenue. The process of authoring contracts can be a huge time-waster when done manually. Often, these drafts are created using word processing software and negotiated through emails. The problem is that transcribing from one data source to the next is not only inefficient but increases the potential for costly errors.
Malbek’s integration with Salesforce speeds up the contract drafting process by connecting directly with Salesforce, utilizing quotes in the system to initiate contracts, eliminating redundant re-keying, and reducing the chance of data errors. Our CLM solution is so tightly integrated with Salesforce that you never even have to leave the system you are most comfortable with to initiate a contract. These software programs are optimized to send drafts straight to customers with all the necessary information transferred directly from Salesforce. This ensures that a contract draft is complete and accurate without the need for intervention from the legal department.
REDUCED NEGOTIATION CYCLES
The use of manual methods in the contract negotiation process often results in delays from accidental changes, issues with identifying the correct version, and other rogue issues. The use of a CLM software program to automate this process minimizes these problems by streamlining the drafting process, reducing duplication of effort, and lessening the risk that occurs when multiple people work on the same document.
5 key benefits here include:
- Sales reps have personal access to contracts through the Salesforce integrated software that is familiar and easy to use
- Approved terms in Salesforce can automatically populate draft agreements and send contracts for signatures
- The tight email integration of Malbek's systems allows a direct exchange of emails with external parties, simplifying and improving the redlining and negotiation process
- Embedded hierarchies and permission levels work with routing workflows to ensure that approvals occur at all the correct stages of the negotiation process
- Built-in audit trails and version controls enable clear identification of modifications, avoiding unnoticed edits and safeguarding the integrity of the contract as it moves through the approval process
INCREASED CONTRACT VISIBILITY
One of the biggest challenges in creating contracts lies in the ability to manage the multiple touchpoints and draft versions that exist. Malbek CLM tackles this issue by ensuring complete visibility is enabled throughout the contract lifecycle management process.
The seamless integration with Salesforce allows your team to manage contract availability directly within the system. The intuitive program enables sales professionals to easily monitor the status of contracts with no intervention or guidance needed from IT or legal to hold up the process.
Approvals and changes to drafts throughout the contract lifecycle are easily viewable and available for audit. Supporting documents can be seamlessly added to contracts, enabling all materials relevant to the contract to be housed in one location. Sales professionals have full access to a complete audit history of changes that have occurred in the life of the draft document. Contracts are also safeguarded with automatic implementation of the review and approval rules that you have in place for your business.
The use of Malbek's CLM solution to seamlessly integrate with Salesforce is a time-saving and ultimately revenue-boosting business solution. The intuitive system helps streamline contract lifecycle management, eliminating redundancy and reducing wasted time. Contract drafts are created faster with less risk and burden placed on busy Legal departments. The negotiation process is automated and streamlined, using data directly from Salesforce to minimize manual errors.
For businesses, complete visibility throughout the contract lifecycle management process means always understanding the current status and version of the contract. This can save time, minimize risk, and preserve a company’s integrity.
Want to empower your sales team? Check out Malbek Contrax and schedule a demo with us today!