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Contract Lifecycle Management (CLM) is a technological ally that speeds up, streamlines and secures document processes in legal departments. A diamond in the rough for lawyers, but what if it were a tool that works for the rest of the company? Both questions have an easy answer: CLM helps anyone who works not only with contracts but also with all kinds of legal documents. Human Resources, Finance, Procurement, Marketing… all of them can benefit. Regarding the sales department, the CLM is a resource to streamline its negotiation processes, secure them and make them more attractive to the customer.
Like almost every business area, the department deals with legal documents on a daily basis. These are of various types and can be automated through technology to become part of the efficiency flow that CLM brings.
Which documents can the sales department automate thanks to CLM?
- Confidentiality Agreement
- Service proposals
- Multi-exclusive contract
- Collaborations Agreements
- Partnership Agreements
- Purchase Orders
- RFP response documents
- KYC
Boosting the sales department with CLM
- Seal deals faster
- Contract self-service
- Centralise the content of the contracts
- Maximise interdepartmental collaboration
- Differentiate yourself in front of the customer
1. Seal deals faster
The contract is the most tedious and time-consuming part of a sales agreement. Even if the deal is finalised or written by email, the final signature is a crucial step in any agreement. Different people, departments and managers are involved before the desired signature is reached. The CLM serves to streamline this process and bring it to a close as quickly as possible, while eliminating human error, eliminating conflicts and moving much faster towards the final goal.
2. Self-service contracts
The CLM covers the entire documentary process and allows the agreement to be sealed faster, but how can the sales department move forward if it must first wait for the contract to be approved by the legal department? Simple: the salesperson himself can create this service provision contract on his own without the need for the legal department to validate it, as it will already have been done beforehand.
The result: CLM helps to create documents twenty times faster than the traditional way and without any human error. That means that the legal area decentralises this part of the document process so that the sales area is agile and decisive.
3. Centralise the content of the contracts
But while the previous step describes the decentralisation of contract creation, the CLM ensures that the legal department has a seamless centralisation of content. Since legal documents are created, distributed and stored from the CLM tool itself, it is possible to keep track of their versions and contents. Not only will they be error-free due to haste and manual work, but they will have updated clauses according to the company interests and following current legislation.
4. Maximise interdepartmental collaboration
The sales department is not an independent entity, as it is in constant contact with other areas of the company: in addition to legal, it collaborates with marketing, finance and other areas in setting objectives, campaigns and all kinds of strategic issues for the company. Having CLM software enables sales professionals to have greater control over the status of their operations and to collaborate more effectively with other areas in legal operations so that they can provide information, files, data...
5. Differentiate yourself in front of the customer
The sales department is also in continuous communication with potential clients who, in turn, have many alternative service providers. Having a CLM will increase the value of the commercial department's own proposals for services or collaboration, whatever the sector. Enhancing the negotiation process with this technology will make it easier, and making it faster, easier and more pleasant for the client is a differentiating value compared to the competition.
CLM as a strategic ally in every sector
Contract Lifecycle Management is a multi-purpose resource that serves commercial departments in all sectors. Whether in the consumer goods, real estate or technology industries, among others, the use of legal documents is widespread. Having a CLM as an ally brings added value to the sales department and helps you strengthen your strategic position in your company, whatever sector you are in.
