Throughout the years, I've worked with customers who want to automate their contract creation. When most people start the process, they think it’s pretty straighforward. But when they look under the covers, there’s a lot more to it. There’s a lot of discovery that needs to happen. That discovery starts with thinking about the people who have a say or stake in the acquisition process, in order to truly involve them to where you can automate the process.
Throughout any organization, there are different kinds of compliance concerns. For example, your legal department is concerned that the most up-to-date and legally solid contracts are being used. Sales just wants to close the deal before the quarter is over, and IT is concerned with what information is being shared with whom.
As the VP of Operations at SpringCM, I field most of these concerns — especially IT’s, because I’m extensively involved in security initiatives.
While there are definitely compliance standards that are required by law, sales contract compliance is typically tied to an internal compliance requirement.
If you've been following our blog, you'll have noticed we're big on sharing what our peers are accomplishing in the contract management space. Our focus is on the success of our customers, and we know that your contract lifecycle management (CLM) investments need to be well-considered and well-researched. So we figured we'd do some of the Googling for you! Now that Q1 is winding down, we've pulled together a roundup of our contract management software reviews.
March 23, 2015 Workflow
Regardless of your industry or department, chances are your day-to-day revolves around meeting set goals. The sales team chases quarterly sales quota, the HR manages the office and sources top talent, and so on and so forth. However, when departments do not have a system or a method to connect with each other, the smallest problem can create a domino effect throughout a company.
Most of the companies I talk to are looking for workflow to help standardize a business process. If you’re trying to standardize a process, and make it less chaotic and more structured, you're probably in need of workflow.
When I think about managing contracts in salesforce, I think about documents, negotiations and signatures. When I started to look around the web and Googled "storing contracts in salesforce", "managing contracts in salesforce" and "sales contracts in salesforce", I started to see an entire different universe that included data, workflow and visibility. This made me step back and think about the solution as a whole. Managing sales contracts in salesforce is a combination of data, documents, process and visibility!
March 13, 2015 SpringCM Releases
On this blog, we shy away from talking about ourselves. The content we share is typically educational with little to no mention of SpringCM. But once in awhile, we do like to give our readers some insight into what's going on behind the scenes.
The definition of a contract is ‘a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.’ When it comes to sales, the only kind of contract that means something to my CEO is an agreement that is signed by both parties and enforceable by law.
Is there anything Salesforce.com doesn't do? Salesforce has its Sales Cloud, Service Cloud, Marketing Cloud, Communities, Analytics, Mobile, Content, Contracts and every other buzzword out there when it comes to technology, business and process. It’s a one stop shop for all of your business needs. But what does that really mean to a company when you start to dig in and understand your business requirements and needs?