Every contract takes a different track, but do you have a standardized process for contract reviews and approvals?
The contract process involves many steps, which includes sending the contract to internal and external parties for reviews, approvals and signatures. Without a way to regulate and track the path a contract takes fosters an inefficient method to manage and predict what will happen during the duration of a contract cycle. This makes it harder to foresee contract bottlenecks and mitigate errors.
The ramifications of a slow contract process can limit the number of deals a salesperson closes, or worse, negatively impacts business objectives with inability to bring in revenue in a timely manner. Instead, valuable selling time is often spent sending emails or making phone calls inquiring about the contract’s status.
Automating the contract process ensures contract cycles are directed internally and externally more efficiently and all contract changes are saved for prompt reviews and approvals.