When discussing pursuing a contracts management software project, there is no shortage of factors to take into account when scoping your project and evaluating requirements. Among these, typically, is the interaction of such a system with your sales process. This is absolutely correct, as one of the key value-adds to any contract management solution should be the ability to help streamline the sales process and facilitate a productive collaboration between sales and legal in the pursuit of new business.
Business productivity is on the decline at alarming rates! Just look at how productivity has slowed according to the Bureau of Labor Statistics:
I need to know where something is.
This is a phrase I hear a lot during my demos. Usually the prospect I am speaking with has a current pain point that boils down to not knowing what stage a contract is currently at. The lack of status tracking also rears its head when trying to construct reports that create visibility into the current process. Simply having the ability to pull a report on the status of all contracts would be a huge win, and is what the prospect is ultimately driving towards.
I think we’ve all been to a package tracking website, or feverishly tracked the status of some sort of application. Being able to track these things can drive the way we plan things or revise our actions and methods.
Contract management is no different. Without any sort of tracking, you lose the ability to optimize business processes and forecasting becomes more difficult. Many times I can feel the frustration of our prospects as they continue to hit this common theme.
In today's world the speed and location of business has changed dramatically. It happens wherever and whenever. As a sales rep, I can't afford to wait days for a contract to be reviewed or created. That might mean the difference between a won or a lost deal. Mobile devices, specifically smartphones and tablets open up a whole new world of productivity for sales professionals and those that support them. It's critical to match the right functionality to the form factor. While I have a smartphone that doesn't mean I want to write a contract in a taxi using just my thumbs.
February 25, 2015 Contracts
As I say to my team, “I’m a finance guy.” From working at financial firms early in my career to where I’m at today — CEO here at SpringCM, and board member and consultant for technology companies looking to grow.
Because of my experience, I’m often asked about the best contract management software for financial services. I’m never one to shy away from being honest with respect to competition.
With that in mind, here is a list of some of the contract management software solutions available for the financial services industry.
February 24, 2015 Contracts
When discussing a contract management software project, there is no shortage of factors to account for when scoping your project and evaluating requirements. Among these, typically, is the interaction of such a system with your sales process. This is absolutely correct, as one of the key value-adds to any contract management solution should be the ability to help streamline the sales process and facilitate a productive collaboration between sales and legal in the pursuit of new business.
February 23, 2015 Contracts
As an Implementation Manager at SpringCM, part of my job includes helping prepare customers for what it will take to successfully use our product. Whether you’re at the point where you’re about to implement a contract automation solution, or if you’re still in the initial research stages, I hope this post helps shed some light on what you’ll need to have prepared.
February 20, 2015 Channel Partner
Channel partners are more than pinch hitters, they are truly part of your organization’s team and, therefore, deserve access to the team playbook just as much as your internal sales force. It can be hard to blend channel partners into your organization, but the better the blend, the better your channel partners can do their job and sell your products or services.
A great place to start in channel partner integration: transparency.
3 big problems with partner onboarding in the consumer transaction technology industry and how to fix them
February 19, 2015 Channel Partner
A direct sales force is often an organization’s ‘A Team’ when it comes to selling. They appear all-knowing, ready for whatever is thrown their way, conquering their quotas in a single bound. But, the truth is they may have it slightly easier than their channel selling counterparts. A direct seller — especially in the consumer transation industry — may know their product line inside and out, but they are only responsible for a single product line, whereas a channel seller is juggling multiple product lines and vendors when presenting to a client.
If you want your channel partners to be able to sell with the power and precision of a direct sales force, you’ve got to empower them with the necessary access and information. Your channel partners’ success starts with you. More specifically, it starts with your onboarding process.
February 18, 2015 Channel Partner
It’s easy to create a channel onboarding process that works for your internal team, but what value does your onboarding process bring to your channel partner? In a highly regulated industry like healthcare, putting yourself in their shoes will strongly benefit your partner relationships and keep them happy.
If you’re looking to reconstruct your onboarding process, you must keep your channel partners in mind. Consider these questions, "What are their pain points and objectives?" and most importantly, "What makes them tick?"
Below are tips for adopting a channel partner’s perspective during the onboarding process.