April 17, 2018
In the tech world, everything moves fast. Customer demands change on a whim, new product and services hit the market seemingly every day, and fads and trends come and go in the blink of an eye. To keep up, tech sales pros push to sell more and faster, and quickly adopt new and innovative ways of selling (like through digital channels) just to stay relevant and competitive. Their counterparts in the legal department, however, aren’t typically geared for speed, but still have to keep up too— adapting terms and clauses to shifting sales models, staying on top of data and security regulations, and overseeing a constant influx of contracts from every department. For tech sales teams, the slowdowns happen in data management and document creation. Poor data upkeep and maintaining it in multiple systems hampers the visibility they need to analyze pipeline and performance, while repeatedly creating and distributing documents—from quotes and proposals to account summaries to customer renewals—by hand takes too much time and cuts into valuable selling time. For legal teams, the picture isn’t much brighter. Their primary role is to manage risk and compliance, but so often their focus is divided by contract creation, negotiation, approvals, and verifying signatures—all which require exceptional attention to detail and a manual, process of redlines and version control that’s prone to errors and oversights. Other teams waiting on contracts have no view into status, left to wonder how long they’ll have to wait to see the latest revision. And an already overburdened legal staff ends up a bottleneck for the business, especially when it comes to sales. Greater efficiency is absolutely the goal for both departments, but no one can achieve it without some significant changes to the current processes. And a tech company lacking efficiency is like a cloud services provider with dial up connection speeds. Organizations looking to gain an edge both over previous performances and over the competition are increasingly turning to automation solution to gain the agility and efficiency they desperately need. Intelligent automation—a solution that combines the power of machine learning with the ease of automated workflows—is ideal for streamlining and accelerating critical business processes and enabling true efficiency.
Smarter data, faster document generation
Integrated with Salesforce, compliant with multiple regulatory standards, and API-ready for easy link-up to existing platforms, automation solutions like Conga’s contract lifecycle management (CLM) solutions give tech sales reps the best tools possible to simplify crucial business development activities and free up time for quality customer interactions. With integrated automation software, your sales team has a single-screen, real-time view into all your Salesforce data, eliminating the constant toggling among various programs and systems. That same data can be used to quickly populate pre-built templates, usually with just a click or two, saving significant time and ensuring accuracy and consistency. More importantly, solutions like Conga Contracts enables sales to instantly generate their own contracts with info straight from Salesforce and then include relevant terms and conditions pre-approved by your legal team and securely stored in an easily searchable library. Once the rep sends the contract to legal for review, automated business rules track redlines and sync them back to Salesforce to support stronger version control and keep everyone informed about exactly where the contract is at any stage of the process—helping them to speed contracts through and close deals faster.
Streamlined contract management
On the other side of the ledger, contract management is a drag for most tech companies’ legal teams. The process still consists of a combination of paper storage, legacy software, and manual oversight. But in this age of rapidly changing regulations and a push for custom or flexible agreements (especially in the tech field), legal teams can’t afford not to evolve with the times. Truly effective CLM is automated and provides real-time visibility for all parties, tracks every user action to enable version control, and establishes user permissions for greater security. Effective solutions will also feature clause libraries that help legal maintain control over terms and conditions so they can maintain compliance without having to manually revise or re-do each contract, along with integrated digital document signature capabilities that eliminate the need for third-party software that can slow down contract approvals and introduce risk. Intelligent contract automation tightens up and streamlines the contract process so legal can focus more of their efforts on protecting business operations, enforce regulatory standards and company policies, and adapt to industry changes—across all teams and departments. Learn more about Conga’s contract lifecycle management solution by downloading Creating a Case for Contract Management in High-Tech.
Real efficiency—the high-tech way
Intelligent automation unburdens sales and legal pros working for tech companies to innovate, optimize customer experiences, and confidently compete across every vertical. It finally eliminates outdated, time-consuming, and error-prone manual processes that lead to chaos and introduce unnecessary risk and failure. In a constantly changing marketplace, automation enables the adaptability, breakthroughs, efficiency, and speed that are critical to your bottom line. To learn how Conga’s intelligent automation can make your tech company more efficient, contact us at 303.465.1616 or start a free trial.