Modern sales strategy: CRM-CLM integration
Many companies are integrating their CRM with their Contract Lifecycle Mgt. (CLM) solutions to facilitate their sales and operations departments to work together servicing the customer as their common goal.
Sales teams employ CRM to track opportunities, contacts, and progress along the sales pipeline. Operations teams use CLM features in CRM to streamline the entire contract management process, reduce cycle times, and improve contract governance.
8Manage CRM which is embedded with full CLM functionality can enable the sales teams to seamlessly manage contracts. It can also address all the factors discussed above and make contracting easier, faster, and more impactful.
8Manage CRM permits the salesperson to initiate a contract request from CRM to the operations teams directly.
The contract owners will have access to a predefined set of contract templates and a clause library, with standard and alternate languages for each clause, ensuring faster contract authoring. They can also create custom templates and clauses.
8Manage CRM empowers sales and operations teams to collaborate effectively at all levels of the sales contract management process ensuring improved communication and transparency.
Salespeople can track the status of contracts.
Admins can automate their contract reviews by creating custom approval workflows, both sequential and parallel.
The stakeholders can effortlessly engage in multiple rounds of negotiation entirely online. The negotiation within 8Manage CRM, eliminates email back and forth and enables enhanced version control.
8Manage CRM also provides e-Signature functionality that empowers the contract owner to sign and secure signatures in minutes, eliminating the email, print, sign, and fax cycles.
Renewal reminders will ensure that revenue opportunities wouldn’t be missed. Salespeople can also initiate post-execution management requests (renewals, extensions, amendments, and termination).
One of the most significant pain points for contract managers is the inability to access critical contract information when needed. 8Manage CRM with a single central repository stores all the contracts of an organization in one place. The advanced search and filter options built-in with 8Manage CRM empower contract managers with better accessibility to contract information.
The analytical capabilities of 8Manage CRM help the sales and operations teams derive valuable business insights from the contract data. In addition, 8Manage CRM has multiple benefits at each stage of the contract lifecycle.
Self-service contract requests and contract templates enable quick contract generation.
Contract revenue and cost budgeting features allow the finance teams to have a comprehensive picture on the contract financials and risks.
Standardization of workflow enables sales and legal teams to communicate and work together coherently throughout the sale contract cycle.
Complete visibility into sales contracts statuses and transparency in processes allow stakeholders to perform timely actions with no confusion.
Simplified negotiation and signing methods empower the stakeholders with a secure and robust way to execute contracts digitally.