The best way to ensure a successful close is to start your contract process on the right foot.
Delays in the contract process are often traced back to the beginning, when contracts are first generated. Because it can be challenging to know how to get started, sales reps may often cut corners in the interest of time. In order to avoid risks and slowdowns further along the contract process, sales reps need a tool that guides them through the contract process, ensures they’re using the most up-to-date contract version for generation, and is flexible enough to handle third-party paper.
SpringCM’s latest survey shows that generating contracts and other related documents is the second most common challenge in the contract process.
SpringCM’s Doc Launcher accelerates the contract process by leveraging an intuitive guided approach from the point of initiation. Doc Launcher exposes the relevant and approved contract template automatically, enforcing business rules to build the appropriate contract and trigger the necessary governance workflows. The same intuitive experience can be used to initiate the contract process by uploading a third party contract, and leveraging SpringCM workflows to enforce contract reviews and approvals based on defined business rules.
Our platform is designed with both the administrator and end user in mind, providing the flexibility to best match an organization’s specific needs. Features like Doc Launcher are easy to configure and requires little end-user training, so organizations can get up and running, and see immediate results.
SpringCM allows you to configure and evolve custom templates for your most common types of contracts, including NDAs, MSAs and SOWs, giving you complete control over your document generation activity. Users can select standard contracts from a pre-approved template library to ensure they have the most up-to-date versions in order to minimize contract risks associated with outdated language. Legal and contract teams who administer contract templates can easily apply business rules to the contract generation process in order to enforce the use of the best contractual terms for the organization.
SpringCM works with Salesforce and similar cloud platforms to pull the most current data for use in contract generation and for driving downstream workflows. SpringCM’s powerful Salesforce integration is very flexible when it comes to mapping data from Salesforce into the contract process, and can query across extremely complex Salesforce data models with ease. Doc Launcher also provides online forms to capture user input and overrides when generating new contracts.
Common language can be captured in a shared library of terms that can be used during contract generation and in downstream negotiation. With Doc Launcher, users can select pre-approved clauses and related terms from a clause library that can be added to a template and reduce reliance on Legal. The SpringCM Office 365 Clause Add-in exposes the SpringCM clause library within the redlining process, allowing users to quickly find and insert alternative language within MS Word to keep the contract process moving.
After generating the contract, Doc Launcher will automatically initiate a customized workflow, automating the review and approval process based on defined business rules and accelerating the time to close.