Ways in Which Contract Management Software Can Help You Close the Deals Faster

If you're monitoring sales velocity, you'll be aware that the duration of the sales cycle directly affects the revenue. If your sales team can swiftly close sales and then move on to the next deal on the list, it's making more revenue in a shorter period. Operations improvements that allow you to close deals faster are always worth a look.

One of the biggest obstacles in the sales process involves the development, circulation, and approval process for contracts. Obstacles can be eliminated but only with the right contract management software like the one from ContractSafe.com. With the right tools, your sales team will be quicker and more effective, avoiding errors and accelerating the negotiation process as well as approvals. A successful contract management system is a crucial factor in reducing the time to sell.

Here are ways in which contract management software can help you close your business deals faster.


 

Simple Contract Creation

The typical contracting process begins with numerous emails back and forth when the sales representative requests the contract. The legal department drafts it. The department edits it manually, starting from scratch or by using templates. It is a lengthy and error-prone process full of risks.

A contract management system automates the contract creations according to the Legal department's needs. Automating the contract creations and approvals reduces time and assures the accuracy of the contract. Modern templates, automated workflows redlining, e-Signature, and can reduce the time needed to create contracts, edit, sign, and share.

Create Seamless Collaboration

Sales contracts are often complicated with going back and forth in discussions. This is how one comes to be aware of the issues that PDFs have, but that's a matter to come back to later.

Using a sales contract management system, you can collaborate with your team members or invite guests from outside to review comments, comment, and pro-actively negotiate and sign the agreement, all while on the same platform.

The ability to control the tasks during the contract lifecycle and maintain access control and keep a detailed audit trail help companies accelerate the approval process speedily and efficiently.

Integrating CRM

Imagine an entire sales team making progress with new clients instead of tracking leads in the pipeline by sending reminders or copying data from CRM into CLM and the reverse. This sounds incredible.

Integration in two ways with your CRM enables you and your sales team to keep one source of truth that moves information seamlessly between the two systems, which results in immediate tracking and alerts to your customers via the tools you prefer. This integration doesn't just free up sales staff's time but also lets them swiftly respond to any revisions, approvals, or modifications.

Easy Tracking of the Deals Progress of Deals and The Approvals

Imagine letting employees' time and energy concentrate on new clients instead of continually monitoring deals already on the horizon. Contract management software offers real-time tracking and notifications about customer engagement, including changes to contracts and views signing, approvals, and other details. Access to the contracts status allows sales representatives to respond more quickly to customers and move the deal forward.

The Aesthetics and Design of Documents Are Important.

Your contract should reflect professionalism. It doesn't matter if it's the appearance of your brand's logo as a logo, font type, or the alignment of your text; all of it matters.

You can use contract management software to create a neat and clutter-free document by adding images or tables to improve the overall appearance of the documents. Designing documents should not be considered a secondary consideration; therefore, you should take your time creating templates that align with your business's design aesthetics.

Automated Workflows

After completing the points mentioned above, it's time to establish flawless automated contracts. Nothing makes sales reps' life simpler than self-executing contracts that trigger actions automatically to renew and increase sales and price adjustments.

Automated sales workflows let your sales teams free themselves from the rigors of manual work and allow them time to concentrate on the important work of nurturing relationships with their customers and hitting the gongs more often.

Digital Signatures

When you offer your customers different choices for signing, you make sure that the last hurdle can be eliminated from the way to the signature of the sale contract. Imagine how easy it will be for your sales representatives and clients if they can complete an agreement using the single click signature, a two-factor signature, or their bank ID!

Clients save as much as 45 minutes for each contract when they sign it digitally. This allows them to save the sale of unnecessary paperwork and ensures that contracts are returned with a signature within a minimum of 24 hours after being given.

Final Words

Sales contracts will never be delayed if all parties are working to work in the same way. Contract management software can cut the time to approve contracts from one month to just one week, which could significantly improve the sales cycle. ContractSafe Sales Add-on enables your team to automatize routine tasks, allow integration in two ways with the CRM, guarantee that there is transparency, and allows signatures while on the move. It will result in a productive sales team that can close deals more efficiently and faster.

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