SOCIAL CONTRACTING: 3 quick tips on using CLM to work smarter and faster Page 1

3 quick tips on using CLM to work smarter and faster

Written by Rose Lee

If you're reading this, you already know the importance of contracts to any organization. Just about every

business transaction involves contracts, so it's important to make the most of them. Here are three reminders of

how to use CLM to help you work smarter, make deals faster, and be better informed to make intelligent

business decisions and ensure compliance.

Be quick on the draw

With CLM software, you can automate frequent actions such as contract requests, approvals, and renewals.

Leverage features including e-signatures, templates, and workflows to make the contract process as seamless

and simple as possible.

CLM solutions will boost the efficiency of transactions by allowing sales reps to focus on the deal instead of the

details. When you take advantage of customization options and automatic configurations, you avoid human

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error that results in lost time and quite possibly lost revenue from inaccurate quotes. And if it's all in the cloud,

reps can keep their momentum and confidently close deals from anywhere.

Make your contracts work for you, across the enterprise

Seal bigger deals and shorten your negotiations with CLM solutions. When you integrate contract systems across

the enterprise, the benefits of efficiency and streamlining grow exponentially.

Choosing a CLM system that integrates with what you already have running – Salesforce, SAP, and whatever

other business intelligence tools you use – will increase opportunities for enterprise-wide adoption and

collaboration. CLM solutions provide the tools to easily access the information you need, making your contract

processes more effective and favorable to your business.

Get proactive with better insights

When all your contracts are in one accessible system, it's easier to gain insight into your overall business

operations and see where improvements are possible. Use metadata and analytics to optimize existing contract

terms, eliminate maverick spend, and identify areas of the enterprise that are operating less efficiently than

competitors.

Procurement and sales aren't the only departments that benefit from better business insights with CLM. It's

estimated that contract compliance errors account for 2% of the annual costs of a business. Most compliance

errors are actually human errors. With a secure, searchable database of your company's contracts, the legal

department can better identify and mitigate risk and compliance issues, and focus on more strategic company

goals rather than dealing with crises as they arise.

Webinar alert:

Join us on Wednesday, February 18 at 11AM ET as we talk about solutions that drive collaboration in contract

management with recognized analyst Andrew Bartolini of Ardent Partners. Register by February 18, 11AM ET,

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and you can also download an Ardent Partners white paper: Collaborative Contract

Management: Procurement’s Role in Enhancing Compliance and Mitigating Risk.

Contact us to learn how to become proactive, work smarter, and be faster to the deal with the CLM solution

that's right for your business.