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Zycus recognized as a ‘Strong Performer’ in The Forrester Wave™: Contract Lifecycle Management, Q2 2023  Read More

Taking CLM to the Edge of the Enterprise – Part 2

After discussing the CLM maturity levels currently, it is time to see how a cutting-edge CLM helps different functions in an organization own their contracts and derive greater value from them. This week we’ll be having a closer look at the Sales function.

Contract Management for Sales

Without contract automation, sales cycles are elongated – leading to delayed revenue realization and increased likelihood of errors and miscommunication with prospects and customers. There is also too much reliance on the legal team for all contracts.

A modern CLM solution helps sales by keeping negotiations on track and improves customer satisfaction with rapid and transparent communications. It also accelerates contract customizations and helps get faster contract approvals. A CLM automates:

  • Milestone notifications
  • Renewal and Expiry management
  • Alerts and Notifications to the correct stakeholders

With a CLM solution in place, a non-legal function such as sales can access critical information that helps it drive greater value from the contracts it handles. This value is driven through:

  • Reduced bottlenecks
  • Pre-approved templates and clauses
  • Reduced reliance on the legal team for contracts
  • Shorter Sales Cycle Time
  • Quicker contract creation
  • Better obligation management
  • Timely reminders and alerts
  • Minimize Revenue Leakage

Next week, we’ll continue with a closer look at how a modern CLM can become an important ally to an enterprise’s financial function in its efforts to seek the best possible returns at the lowest possible cost from a reliable partner. We’d love to know your experience. Please share your thoughts at info@zycusicontract.com.

You can also access the recording of the latest IACCM webinar, on the same topic, here.

Author

Mr. Panchal is the Vice President at Zycus. An ardent promoter and practitioner of Theory of Constraints and CCPM, Digesh brings with him deep domain expertise from his long and rich personal experience in manufacturing. In his prior stint at Verdantis, he has led highly complex implementations of Master Data Management solutions for multiple master domains, across various industries and varied deployment models. As a forward-thinking leader with extensive experience in the design, development, testing, and rollout of cutting-edge B2B SaaS solutions, Digesh excels at driving the day-to-day operations of complex enterprises to produce turnarounds. At Zycus, Digesh is responsible for building a best-in-class AI-driven Enterprise CLM software and drive market traction.
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