China Contract Services
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When thinking about how to free up time to sell more while still maintaining a firm grip on each contract’s lifecycle, consider the following benefits of automating your contract management process.
Improve sales cycle time by working smarter, not harder
Imagine if three 15,000-unit orders arrived on the last day of the quarter. Working smarter, not harder, would have made it possible to close on those deals using a contract management system to streamline reviews and approvals. You would eliminate all-nighters, which would reduce the chance for errors and—best of all—roll-up contract value immediately into the prof-forma financials of your company.
Get your salespeople the information they need right away
Since we know that sales cycles generally slow down due to lack of information on a given account, the clear remedy is to have all information easily accessible, and in one place.
Say that you, a sales person, are taking over an account for another member of the sales force who has since moved on to a different company. You are new to the account, and need to search for all associated documentation in order to close the deal and have a complete contract submitted for approval. With an automated contract management process, you can simply enter a search query and end up with the desired documents. However, with a manual process you’d most likely end up hunting through file folders—or begging someone in Sales Operations to do this for you while you’re in the field working to sell more. Information you need may be filed in disparate systems, leaving you to search through multiple databases with the same query. If there had been better account control from the beginning, this process would be simple, regardless of any account changing-of-hands.
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Minimize risks associated with manual data entry
When teams are tired, stressed, and trying to capture all of the information in their stacks of contracts and documents accurately, errors are almost inevitable. It is common for packages containing complete contracts to also get lost at the end of quarters — when they literally arrive in crates and containers.
Erroneous entry opens the door to a multitude of problems in the contract management process down the road including incomplete, inaccurate pricing, lack of focus on the correct product features and options, lack of consistency with previous special pricing concessions, and — worst of all — no visibility of how the contract concessions impact gross margin company-wide. Allowing a reliable contract management system to capture the information for you — faster and more accurately — ensures that sales teams can not only focus on closing deals and spending face-time with customers, but also save the company money that would otherwise be either spent on contract re-work or lost on missed renewal opportunities.
Hit your sales goals
It’s no secret that automated contract management processes reduce administrative costs, improve compliance, and diminish risk. Organizations who utilize contract management improve contract renewal rates by 25%, increase revenue by 1%-2%, and cut contract cycle time in half, which means more time to create more sales.
Strengthen customer relationships
By implementing robust systems to control information flowing between you and your customers’ companies, you demonstrate to your customers that you are committed to going above and beyond to manage, track, and maintain a relationship with them. It is important not to neglect the wealth of information available in contracts, such as pricing, product schedules, promotional programs including Market Development Funds (MDFs) and Marketing CO-OP Funds. These details paint an inclusive picture of an entire customer relationship.
Build solid channel relationships
The best complement you can give any channel partner is your undivided attention. Automating contract processes gives you the time to focus instead of always running from one fire drill to the next. It gives you control over the “R” word — resources — so you can make the most of your channel relationships and continue to build positive, new ones.
Contact Us
If you have further queries, don’t hesitate to contact ATAHK anytime, anywhere by simply visiting ATAHK’s website www.3737580.net , or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82148419, or emailing to info@citilinkia.com