Memorial Day Weekend: 3 Ways to Take Your Mind Off Sales

By Maggie Kissane

  May 27, 2016        Sales Enablement

It’s the end of the month, and for salespeople, that usually means wrapping up last minute deals to hit your monthly number. This weekend is different, however. That’s because it's Memorial Day, the unofficial start to the summer season. It’s also the perfect time to get out of the office and get your mind off of sales.

As the weather gets nicer, the last thing you want to do is be cooped up in the office all day long. After a long month, especially if you’ve successfully reached your monthly sales goal, the long weekend is the perfect opportunity to give yourself a break from work and recharge your battery.

This is the time of the year when the beaches officially open, street festivals begin and the kids are almost on summer break. Some popular beaches to go to this Memorial Day would be Oak Street Beach or North Avenue Beach. Both locations have a family friendly atmosphere and also an oasis for young people to get together with friends. Whether you want to grab a drink, play volleyball, or just lay in the sun at the beach is a perfect place to get your mind off of work this weekend.

SpringCM is located in Chicago, IL, and after a long cold winter, our salespeople are eager to hit their favorite summer hangouts to kick their summer season off to a good start.

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Redlining: More Than Just One Step in the Contract Lifecycle

By Ernesto Carrera

  May 13, 2016        Workflow, Contract Management

When I speak with people about contract management software, they often mistake it as just a redlining tool.

By definition, redlining is the process of two or more people adding, redacting, or adjusting language within a contract to help identify potential risks in the deal. Today - it’s much more than that.

Rarely do contract negotiations just happen once in the contract lifecycle. Instead, both the buyer and seller make changes to the contract - throughout the contract’s lifecycle. The contract can go back and forth between parties for days, or weeks before it’s ready to be approved. Sometimes at the approval stage, Sales Managers or the customer could reject a terms within the contract, sending it back to negotiations.

If negotiations are happening throughout the contract lifecycle, it’s critical that you’re ready for redlines from the very beginning of the contract process.

So how can you be prepared for redlining at any time, and still accelerate the contract to close? The key is in the tools you use to negotiate contracts.

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SpringCM Talks ‘Project Unite’ at SteelBrick Customer Success Summit

By Team SpringCM

  May 9, 2016        Contract Management

The Salesforce environment now has it’s own set of applications dedicated to accelerating the entire quote-to-cash cycle. It was a hot topic at the SteelBrick Customer Success Summit, where SteelBrick partners and customers gathered in San Francisco on April 20 - 22 to learn more about increasing sales productivity.  

Karry Kleeman, Chief Revenue Officer at SpringCM, led a discussion in a session titled, “Getting the Complete Package with CPQ + Contract Management.” He spoke about how SpringCM, a Salesforce Platinum Partner, is accelerating the contract process to help shorten the sales cycle and speed the time-to-revenue.

But Kleeman pointed out that when it comes to SpringCM’s relationship with Salesforce, the contract and document management platform does so much more than add velocity to contracts.

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5 Slow Zones in the Quote-to-Cash Chain

By Sami Khalil

  April 21, 2016        Contract Management, Sales Enablement

I hear a lot of buzz about what configure, price, quote (CPQ) can do to help shorten the sales cycle. In fact, Aberdeen Group says businesses can attain a 28% shorter sales cycle with CPQ tools.

But how long is the CPQ process, really? According to Aberdeen Group, the average time to produce a quote is just under five hours. So what’s really holding up the sales cycle?

According to a recent SpringCM survey, almost 50 percent said their contract process lasts over 4 weeks. That’s because the contract process involves multiple stages that involve generating documents, negotiations, and seeking approvals and signatures. All of these stages can include sharing and collaboration with internal departments.

It’s clear that the contract process is the longest part of the sales cycle, and must be addressed to not only accelerate revenue, but also avoid risks. Combined with a CPQ solution, Contract Management can streamline the entire quote to cash chain.

Here are five slow-zones in the contract process, that can be streamlined with Contract Management:

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3 Takeaways from The 2016 State of Contract Management Report

By Team SpringCM

  April 15, 2016        Contract Management

SpringCM just unveiled the findings from its second annual State of Contract Management report. The results spotlight the stakeholders and tools involved in the contract process, as well as where delays and human error can occur.

We surveyed 822 business professionals from various industries about their contract process and the challenges they face throughout the contract lifecycle.

We’re highlighting three key stats that speak loudly at what is causing contracts to stall, and what businesses are doing to accelerate their contract process.

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3 Ways to Improve Compliance in the Contract Process

By Zachary Darmon

  April 1, 2016     

Whether it’s getting employees behind new rules, new tools or just having them follow the current rule, compliance is an ongoing issue for most companies.

“Compliance fatigue,” happens more often than you think, in any industry.

You’ve probably noticed in the last couple of years that your newest credit and debit cards now have a “chip” that you insert into the payment machine, rather than swiping your card. But even today, how often do you still try to swipe your card?

The credit card industry suffered from it’s own compliance fatigue in this case. The industry had set a self imposed deadline for Oct. 1, 2015, but by that time, only 40% of businesses were ready for the switch.

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SFWT: Grow Faster with Connected Sales and Service

By John Dickow

  March 24, 2016        SpringCM Partners, Sales Enablement

McCormick Place in Chicago is bustling this afternoon with Salesforce customers and partners, all with a similar goal; sell more in less time.

A major theme at today’s Salesforce World Tour in Chicago is customer service. In fact, according to Todd Enders, Sr. Director of the Service Cloud, customer service trumps both price and product in today’s selling world. It’s now seen as the number one way to acquire and retain revenue.

In Enders’ breakout session, “Grow Your Business By Connecting Sales and Service,” he spotlights the changing customer service landscape and provides actionable steps for businesses to keep up, and continue growing.

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Sales Pro Tip: 4 Ways To Prepare For Contract Renewals

By Ruth Gallagher

  March 18, 2016        Contract Management, Sales Enablement

“I’m bleeding money without visibility into these renewals!”  That was my first conversation with the new corporate attorney at an enterprise company.

You wouldn’t think that after going through all the work selling to the customer that you would miss a renewal and lose the opportunity to renegotiate terms or prices. In the SaaS world, if a contract is not renewed, the customer goes away. You’re not just missing out on revenue, but also the opportunity to expand the use of your product.

For the last two weeks, SpringCM has shared Sales Pro Tips to help salespeople shorten their sales cycles and pave a faster path to revenue. As our final tip, I will explain four ways to prepare for a contract renewal to ensure no customers (or revenue) is left behind.

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Sales Pro Tip: Centralize Contracts to Accelerate Approvals and Signatures

By Monica Peterson

  March 17, 2016        Workflow, Contract Management

During the sales cycle, there is an assumption that getting a contract approved or signed should be the fastest step because it simply involves someone looking at the document and performing one action. In my experience, that assumption is false.

I can remember a deal that my team and I had been negotiating for months. I had offered the prospective customer incentive to get the contract signed that week, so that I could reach my quarterly quota. The prospect confirmed they were on board, everything looked good, and we sent the contract over to be signed. Then, we didn’t hear anything back.

As the clock ticked, I began to feel panicked that I would miss my sales goal. I had been working so hard on this deal, and put in the extra work to ensure it would get signed. My boss and his boss were counting on this deal as well. The pressure was on! After waiting a long time and finally reaching out to the one of my main contacts, we were told the CFO, who would be signing, was on vacation at his lake house and had limited access to the internet. After explaining the situation, we were finally able to get the contract signed through another individual.

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Sales Pro Tip: 5 Ways Small Businesses Can Accelerate Contract reviews

By Nick Oboikovitz

  March 15, 2016        Contract Management, Sales Enablement

Small businesses are challenged with competing against larger companies with larger budgets.  

As a salesperson who is selling contract management software to small businesses, I see a lot of clever ways other salespeople do more with less.

But when it’s time to review a contract, it gets more complicated and cutting corners becomes more risky.

Small businesses don’t have the same spend as larger companies, so it does not always make sense to hire a lawyer review a contract, depending on the size of the deal. But on the other hand, how you can you ensure you’ve vetted a contract for risks without the help of a lawyer?

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