solving contract chaos how stratus technologies addressed sales contracts challenges

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Solving Contract Chaos

How Stratus Technologies Addressed Sales Contracts Challenges

Hosted by SpringCM


Contracts Survey: Internal Approvers Create Bottlenecks to Finalizing Contracts

50.8 49.2

Nearly half have 3 or more internal approvers

2 or fewer 3 to 9

SOURCE: 2011 SALES PRODUCTIVITY SURVEY: CONTRACT MANAGEMENT CHALLENGES


Surprises and Challenges Create Delays and Negatively Impact Financials

0% 5% 10% 15% 20% 25% 30% 35%

Lack of visibility into contract approvals on the client/customer side

Non-compliant terms in a final draft

Missed forecast due to slow to sign contract or contract process obstacles

None of these situations have occurred

Marking up/editing the wrong draft

Terms and conditions added into a final contract that turned out to be non-

Lost or misplaced contract

Contracts expired before a renewal negotiation is begun

Wide range of issues reported

3



Priorities Focus on Control, Productivity and Reporting

2.5 2.4 2.4 2.4

2.3 2.3 2.3

2.2 2.1 2.1 2.1

2.0

Having early notice of impending renewals Improving insight into status of contracts

Confidence that terms and provisions are in compliance

Improving internal sales team productivity Automating unproductive processes

Ennsure only most recent copy is being used

Improving visibility into sales contract proceses

Eliminating lost documents Eliminating paper from workflow and process

Eliminating misplaced, lost contracts Reducing use of email and email attachments

Reducing the time spent chasing contracts

Wide range of issues viewed as important

4



Stratus contract process

5

• High tech hardware and software • Direct and channel

Types of contracts? Contract process?


Warning signs that it was time to look at contract management?

6

Status on spreadsheets

Surprise terms

Time spent finding status


Warning signs that it was time to look at contract management?

7

Easily track contracts

Easy to implement, operate

Integration Affordable


Can you describe your implementation?

8

Weeks to implement

Small team


Advice or comments you would share?


What’s the impact on your business process?

10

More focus on deals signed

Visibility in salesforce

Lower risk in terms


Questions?

For more on Stratus use of SpringCM, visit http://www.springcm.com/sales-contract-management

www.springcm.com Twitter at @springcm

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solving contract chaos how stratus technologies addressed sales contracts challenges

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