Fast generation of contracts
06 January 2012
Drawing up contracts is the work of specialists. Making a complete and correct contract often requires a great deal of time of energy due to the wide range of different subjects and their complexity. Long cycle times are a risk factor in the sales process. It is very important to reduce the cycle time, without compromising the content of a contract.
Getting down to business faster
Contracts are usually drafted during the final phase of the commercial process. This is not a good time to cause any delays. Fast contract generation is important for reducing commercial risks. After all, the ability to respond quickly and accurately minimizes the risk factors and increases your scoring rates. But how is this possible?
1 – Safeguard knowledge
If the expertise of several individuals must be combined, generating a contract becomes a complex and time-consuming process. Not only that, but there also is a greater chance of errors going undetected. So it is not difficult to imagine the advantages to be gained if you can safeguard and make available all relevant knowledge in a central and easy way.
2 – Introduce an approval procedure
It is possible to organize the creation of even the most complex contracts in such a way that sales reps themselves are able to make complete contracts in no-time. How? Through an approval procedure. All exceptions are automatically brought to the attention of the ones who have the authority to make decisions on these exceptions. Contracts can be quickly and efficiently made within the standard agreements and all special features are approved or rejected in the correct manner.
3 – Introduce contract version management
With version management, you can maintain an overview of contracts, even after various versions have been sent back and forth between you and your customer.
4 – Work in compliance with an agreement
It is precisely because contracts disappear into a drawer that it is often difficult to work in compliance with an agreement. Is the service staff, for example, aware of the agreements made on response times? And does the financial department know that different prices or payment conditions have been agreed? Automatic monitoring prevents a considerable amount of frustration and irritation.
5 - Do you have tips?
We welcome your tips! Please post your comment below. Read more about Contract software.
Marijn Schouten is Director Business Development at Sofon - supplier of sales support software. As Marijn has a lot of contact with clients, he has a clear insight into how companies that deliver customer-specific products and services can realize improvements within their sales and quotation process.
Comments
No entries
