DIGITAL TRANSFORMATION IS NEVER DONEDOCUMENTS ARE THE CULMINATION OF EVERY DIGITAL INVESTMENT YOU’VE MADE, SO GET IT RIGHT, DO IT NOW, AND MAKE EVERY STEP COUNT

TABLE OF CONTENTSWHERE DO YOU STAND?

TRANSFORMATION IS NEVER DONE

IT ALL ADDS UP

THE CONNECTOR: DOCUMENTS

START WITH CUSTOMER-FACING DOCUMENTS

DOCUMENTS HELP YOU AVOID THE PITFALL OF “DONE”

GETTING STARTED ON DOCUMENT INTELLIGENCE

DISCOVER YOUR DOCUMENTS

MODERNIZE HOW DOCUMENTS ARE CREATED AND NEGOTIATED

ANALYZING PERFORMANCE FOR OPTIMAL OUTCOMES

GET STARTED

CONGA: TRANSFORMATIONAL DOCUMENT INTELLIGENCE

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WHERE DO YOU STAND?

Every company has been undergoing digital transformation for years. It started with microchips and mainframe computers, moved to personal computers and productivity software, then exploded as the internet connected everyone and the cloud became the platform of choice. But just as the past 60 years have shown, there is no end to the march of technology, nor to the need for continued digital transformation.

Today’s market leaders view digital transformation as a continuous investment in a competitive differentiator that speeds growth, eliminates bottlenecks, and increases customer satisfaction. These leaders also realize that documents represent the day-to-day reality where digital transformation has the greatest influence on overall business processes and outcomes.

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Business transformation has been happening since the concept of business emerged, but the transformation to a digital economy is more recent. Looking at how people work today, it’s hard to imagine an office before spreadsheets, smartphones, and cloud-based services. Digital transformation lets people work faster, more efficiently, and in more places than ever before.

But things like CRM, email, and 24/7 connectivity are yesterday’s transformative technologies. Everyone has them and benefits from them. To stay ahead, or at least maintain the pace, you need to invest in going beyond the status quo, digitizing what’s not digital, improving what’s not efficient, and accelerating that which drags down growth.

To remain competitive and grow, you must continue to digitally transform in both new and incremental ways. This is the only way to outperform the ever-advancing status quo and maintain pace with, or even outrun, the leaders.

PRODUCTIVITY SPREADSHEETS & WORD PROCESSING SUPPORT MATURE PROCESS

DEDICATED ON-PREMISE SOFTWARE DIGITIZES TASKS & WORKFLOWS

AUTOMATION & INTEGRATIONSTREAMLINES SIMPLE PROCESSES

THE CLOUD & CONNECTIVITY INCREASE PRODUCTIVITY

TRANSFORMATION IS NEVER DONE

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IT ALL ADDS UPLeading companies have moved well beyond just digitization. They are connecting systems directly to customers to increase satisfaction, enabling intelligent processes to reduce manual efforts, and analyzing new data streams to identify areas of opportunity. But they can’t do any of that until they use the systems they’ve already put in place.Companies that aggressively approach digital transformation grow revenue as much as 11% faster than their peers, according to a study by McKinsey & Company. That means they’re investing in technology, using it, and further investing to wring even more value out of it. Here’s how they’re doing it:

1. They’re using the data they’re collecting. Digital transformation has allowed companiesto collect massive amounts of data, but without systems in place to analyze, interpret, andintegrate business data, it will be left to gather virtual dust.

2. They’re investing in ways that make them easier to do business with. Customersdemand personalized, relevant interactions with vendors. That means putting data to usein every prospect and customer touchpoint.

3. They’re using intelligence to tell them how to win at every level. Leaders use datato inform strategies and help the frontline workers who need it most. So, instead ofjust managers using CRM data, they’re using it to change future outcomes, speednegotiations, and adjust to shifting markets.

WHERE DO ALL THREE OF THESE COMPONENTS COME TOGETHER? DOCUMENTS!

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THE CONNECTOR: DOCUMENTSDocuments define every business relationship you have with your with workers, customers, partners, and more. Most documents are digital these days, but most are created from scratch, poorly controlled, and disconnected from data stored within CRM and other systems. They’re also created through mostly manual efforts and without adequate oversight.

But documents also track every dollar a customer pays as it moves through your company, even into an employee’s pocket and a vendor’s bank account. Leaving document creation and management up to chance is asking for trouble. Luckily, it can all be solved easily with technology available today.

You’ve likely already digitally transformed documents and processes. Where you have an opportunity is in creating an intelligent, connect document that leverages these processes and the information in your documents. Since digital transformation has already helped you gather and generate more information than any human could possibly interpret or effectively utilize, it takes continued digital transformation to make that information useful.

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START WITHCUSTOMER-FACING DOCUMENTSFocusing on customer-facing documents is an ideal next step in your digital transformation because the outcomes are measurable, tangible, and — hopefully — profitable. It’s a fast-track to growth, directly tied to revenue, and elevates digital transformation to your c-suite. It will also increase the value of many existing digital transformation investments, particularly CRM.

Since very specific documents — proposals, sales quotes, contracts, non-disclosure agreements, and more — define your customer relationships, the components within those documents are tightly tied to what’s in your CRM and eventually correlate to outcomes. Do different proposal types result in higher customer lifetime values? Does a certain contract clause affect sales cycle durations? Do specific terms impact downstream customer satisfaction? Are price quotes negotiated differently if they contain volume discounts? Are more sales deals lost when internal approvals take longer than 4 weeks?

CRM contains data on customers and sales performance. Correlating it with the contents of the related documents lets you know what impacts success and results in better outcomes.

By focusing on the customer and the desired outcomes, digital transformation shifts from being a costly technology initiative to an investment-worthy business strategy.

DOCUMENTS CHANGE A DIGITAL TRANSFORMATION CONVERSATION FROM “WHAT WILL THIS COST?” TO “WHAT WILL THIS CONTRIBUTE TO GROWTH?”

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If you think you’ve reached the end of your digital transformation, you’ve already failed. Digital transformation is never done. New technologies will appear to help you extend and increase the value of the investments you’ve already made, and others will impact areas you never considered.

For executives who drive the digital transformation of the workforce, you need a constant motivation to improve and move forward. But you also need to look back at the foundation you used to build your business. Those elements, digitized years or decades ago, are frequently forgotten or categorized as “done.” The primary example is documents, and especially the related manual and email-driven processes around document creation and collaboration.

Digital transformation never ends, and with documents, the lag between what most companies currently do and what is currently possible is dramatic. Companies are utilizing older technologies to manually manage documents, are using copy-and-paste instead of intelligence and integration, and are not leveraging the content locked away in yesterday’s documents.

DOCUMENTS HELP YOU AVOID THE PITFALL OF “DONE”

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Putting documents at the core of digital transformation enables seamless connectivity between business outcomes and the instruments used to define, conduct, and execute business strategy -- both internally and externally.

GETTING STARTED ON DOCUMENT INTELLIGENCEThe digital transformation of documents is as easy as 1-2-3:

1. Discover: finding and leveraging existing documents2. Modernize: updating how new documents are created and negotiated3. Analyze: exploring document contents and processes to optimize business growth

1) Discover your documentsMost contracts, proposals, price quotes, and customer-related documents aregenerated by sales, so it’s important to work with that team to capture documents asthey’re created and sent to customers. This enables the tracking and logging of criticaldocuments via CRM, so that sales does not have to change their existing processes.

You’re not just looking to track and store documents, but to pull out information aboutthe parties, terms, data, and outcomes related to those existing documents. Thatinformation then provides insights to improve outcomes for future documents. It’s alsoa perfect application of artificial intelligence (AI) technologies that can find, categorize,track, and improve business outcomes based on the contents of documents.

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2) Modernize how documents are created and negotiatedThe next step is to modernize documents by automating how they’re built andintegrating them with existing systems.

Connecting documents with CRM, legal, financial, and other systems allowsdocuments to automatically pull accurate, current, and pre-approved dataand language directly from other internal systems, and eliminates headachesafterward due to incorrect pricing, incompatible offerings, and conflictingterms and conditions.

During negotiations, collaboration and communications come from movingdocuments to the cloud so they can be accessed live, from any location, and onany device. This also enables increased insight around who made edits, when,and how progress is tracking.

Modernization also sets the stage for dramatic process improvements byuncovering previously hidden metrics and correlations, so internal processesand document elements can be tied definitively to business outcomes.

3)�Analyzing performance for optimal outcomesShaving hours and errors off of every sales proposal is undoubtedlybeneficial. It results in sales reps putting more offers in front of customersmore quickly and ahead of competitors. Those quotes are error-free, conformto discounting rules, include all required language, offer relevant upsells,have been approved, and look professional. Outcomes will definitely improve.

But digging deeper is where true transformation occurs. Having the insightsto determine how different attributes impact sales outcomes is whereadditional growth opportunities are found. Then, expanding those analysesbeyond sales activities amplifies the effects of transformation, moving beyondrevenue to affect the entire business.

Documents that define every part of a business relationship pre- and post-sale — proposals, contracts, service level agreements, non-disclosures, etc.— can now be analyzed and connected to every business outcome. This typeof analysis is only possible if the underlying documents are included. And,the resulting business outcome optimization is only possible if the documentintelligence systems, controls, and integrations are in place to make it stick.

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Documents define what happens over the entire business continuum, but for most companies, documents and their important data are disconnected. This limits any benefits of digital transformation and diminishes the impact on outcomes. And, this is where executives must focus if they want to use digital transformation to energize growth.

The ability to move the needle on business growth is weakened without first improving documents, getting them under control and connected. Furthermore, without visibility into document elements and process metrics, and without the ability to connect them to both upstream actions and downstream outcomes, the next phase of transformation is virtually impossible.

The digital transformation journey never ends. But with each step, the leaders are expanding the gap between themselves and the laggards. Every company in today’s market must consider how to end up on the right side of the gap.

Conga’s history with document intelligence began in 2008 as the company pioneered the use of AI, having a machine replace the menial tasks of copying and pasting various text elements into a document based on a set of rules and attributes.

Today, Conga is the clear leader in document intelligence, having spent a decade developing and refining its document solutions, which are now used by thousands of customers to manage millions of documents. By focusing on business documents and contracts, Conga solutions help customers avoid using a watered-down “document management” solution and unsuccessfully applying it to a business outcome. This strategy has worked to widen the gap between Conga solutions and those of other developers.

Conga’s focus in these areas has translated into the company’s own success as well. In the past year, Conga has seen sales nearly double year-over-year, has won a Silver Stevie® Award for “Most Innovative Tech Company of the Year,” and has secured investment from Salesforce Ventures to fund continued growth and expansion.

The conclusion is clear: the intelligent decision is Conga.

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CONGA: TRANSFORMATIONAL DOCUMENT INTELLIGENCE

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