Reduced contract cycle times to 1.5 days
Cadence improves customer satisfaction globally with Conga
With Conga CLM, Cadence reduces contract cycle time and gains visibility into contracts
Cadence is the leading provider of electronic design automation (EDA) software and semiconductor IP. Cadence required a system that could be deployed on a global scale, one that would increase visibility into one particular account as easily as their entire customer base. Cadence chose Conga as their solution and was able to increase their customer responsiveness and satisfaction while also decreasing their average contract cycle time.
100% of temporary license key requests processed automatically
31% of new approvals done through email functionality
Increase in contracts signed annually without additional staff
Challenge
Cadence's legacy solution, and outdated, homegrown CLM engine, made it difficult for teams to handle different work requests, leading to insufficient visibility into contract management processes. This created a number of challenges:
- Revenue leakage
- Delayed sales cycles
- Poor customer experience
- No approval workflow
- Lack of robust tracking features
Solution
To address these challenges, Cadence implemented Conga CLM. The company instantly gained visibility into the contract management process from finance to sales, creating a fully automated, single system of record.
We are spending much less time reviewing and negotiating each contract. Additionally, our internal clients rave about the self-service aspect of being able to generate their own agreements.
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