How do you solve sales contract chaos? Are there best practices that can streamline your organization's contract process? This presentation from a recent webinar featuring Steve Parker of Stratus Technnologies addresses highly effective ways to solve contract chaos, stop chasing paper, and dramatically improve sales team productivity. Bottom line: greater visibility into the contract process -- from creation and negotiation to agreement, close, and renewal -- means faster deal closings and more revenue.

1. Solving Contract Chaos
How Stratus Technologies Addressed Sales
Contracts Challenges
Hosted by SpringCM
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2. Contracts Survey: Internal Approvers Create
Bottlenecks to Finalizing Contracts
Nearly half have 3 or more internal approvers
49.2 2 or fewer
50.8 3 to 9
SOURCE: 2011 SALES PRODUCTIVITY
SURVEY: CONTRACT MANAGEMENT
© 2010 SPRINGCM INC. ALL RIGHTS RESERVED.
CHALLENGES

3. Surprises and Challenges Create Delays and
Negatively Impact Financials
Wide range of issues reported
Contracts expired before a renewal
negotiation is begun
Lost or misplaced contract
Terms and conditions added into a final
contract that turned out to be non-
Marking up/editing the wrong draft
None of these situations have occurred
Missed forecast due to slow to sign
contract or contract process obstacles
Non-compliant terms in a final draft
Lack of visibility into contract approvals
on the client/customer side
0% 5% 10% 15% 20% 25% 30% 35%
SOURCE: 2011 SALES PRODUCTIVITY
SURVEY: CONTRACT MANAGEMENT
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4. Priorities Focus on Control, Productivity and
Reporting
Wide range of issues viewed as important
Reducing the time spent chasing contracts 2.0
Reducing use of email and email attachments 2.1
Eliminating misplaced, lost contracts 2.1
Eliminating paper from workflow and process 2.1
Eliminating lost documents 2.2
Improving visibility into sales contract 2.3
proceses
Ennsure only most recent copy is being used 2.3
Automating unproductive processes 2.3
Improving internal sales team productivity 2.4
Confidence that terms and provisions are in 2.4
compliance
Improving insight into status of contracts 2.4
Having early notice of impending renewals 2.5
SOURCE: 2011 SALES PRODUCTIVITY
SURVEY: CONTRACT MANAGEMENT
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5. Stratus contract process
• High tech hardware and software
• Direct and channel
Types of contracts? Contract process?
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6. Warning signs that it was time to look at
contract management?
Status on Time spent
spreadsheets finding status
Surprise terms
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7. Warning signs that it was time to look at
contract management?
Easily track Easy to implement,
contracts operate
Integration Affordable
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8. Can you describe your implementation?
Small team
Weeks to implement
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9. Advice or comments you would
share?
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10. What’s the impact on your business process?
More focus on deals Visibility in
signed salesforce
Lower risk in terms
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11. 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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