Zoho Contract Management
Sales reps can initiate new contract requests directly from a potential transaction or registration in Zoho CRM. The account in CRM is automatically added as a counterparty in Zoho Contracts with all the details in CRM, and a contract is created. The contract is automatically assigned to a contract owner based on the assignment configuration that you specified when you installed the extension. The contract document will also be available under Attachments in Zoho CRM. Sales reps can track the current status of a contract in the Zoho Contracts section of that transaction record in Zoho CRM. You can also download the contract document and send it as an attachment to the associated account. While adding appropriate clauses, such as compensation and limitations of liability, can reduce risk at the individual contract level, only a holistic contract management process designed to mitigate risk can really make your business risky. Closed transactions are generally not marked as complete until the purchase agreement has been signed, so any inefficiencies in a company`s contract lifecycle management (CLM) process will have a direct impact on revenue growth. Lack of transparency and communication difficulties between sales and legal teams lead to longer contract terms and can even lead to loss of business. Keep track of your business contracts wherever you go. The Zoho Contracts iOS app has a custom mobile dashboard that gives you an overview of key contract metrics. The app also offers all the features you need when you`re not at your desk. Zoho Contracts, through its peer review and approval workflow features, provides better visibility into contract terms to all stakeholders involved.
The establishment of a library of clauses with legally approved languages and contract type templates serves as a guide for contract authors. The above governance parameters give administrators greater control over the contracting process, thereby improving compliance. We are pleased to announce the launch of Zoho Contracts, Zoho`s approach to contract lifecycle management (CLM). With this launch, we`ve taken a new step in Zoho`s journey to provide software solutions to power an entire business in the cloud. To our already impressive arsenal of functions such as sales and marketing, finance and human resources, we are now adding a whole new category: law. Sales reps can initiate post-execution management requests to the contract owner in Zoho Contracts directly from the transaction record in Zoho CRM. This includes contract amendments, renewals and extensions. The contract holder receives this request by e-mail. In addition to the efficiency of legal operations, contract management software should also lead to better business results. To do this, any contract management software must comprehensively address the following aspects of legal operations: all activities performed by users at these levels are tracked chronologically. The follow-up at the phase level tells the contract owner whether the people involved in that phase have received the email notification, viewed the document and performed the planned action with the timestamps.
Sales reps can ask the contract owner in Zoho Contracts to send a contract for negotiation directly from the transaction record in Zoho CRM, which the contract owner receives as an email request. This option is also available for contract changes, renewals, and renewals. Analytics: Administrators can make informed decisions by extracting actionable business insights from a variety of different contract data. Zoho Contracts includes more than 30 standard reports on various aspects of contract management. The custom dashboard gives you a top-level overview of your business contracts at a glance. In the absence of an integrated contract request experience, a sales representative must use multiple applications in addition to CRM. When a new sale is imminent, they send an email, call or notify someone directly from the legal department to request the drafting of the contract. More than 50% of business development leaders say inefficiencies in their contracting process slow down revenue recognition. The main reason for this is that sales and legal teams work in silos and not in collaboration. With our Zoho CRM integration, you create transparency between your sales and contract processes, dramatically improving cycle times.
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