Our business ecosystems are getting increasingly networked, driven by global supply chains, specialization and distributed operations.
The more relationships between companies, the more co-operation defined by an increasing number of sales and procurement contracts. Yet, the cost is growing for especially the more complex contracts – the ones that usually require extensive negotiations. This is due to increasing regulations, contract complexity, size of negotiation teams and related expenses such as wages, travel costs (even during COVID-19) and prolonged negotiation processes.
One way to keep the costs in check is to move negotiations online, when possible – just like many vendors have done with their product demos and webinars. The cost benefits are many:
- Quicker negotiation. A good cloud negotiation service can run the management of the negotiation with its predefined workflow, and keep it flowing with alerts for tasks and status updates.
- More transparency, clarity and control. The online collaboration tools of a cloud negotiation service allow commenting and redlining simultaneously for all participants. No agreeing and waiting on turns.
- Quicker drafting & internal collaboration. The collaboration tools also speed up activity in each participant organization. Exclusive commenting within the own team is also enabled during the negotiation.
- No email back-and-forth. Online contract drafts that support commenting within and between teams, simultaneous redlining and approvals for each change reduce dramatically need for messaging.
- eSigning. Get the contract in the right hands for quick approval right when it is ready.
- Lower business travel costs. No money spent on tickets and lodging – plus a lot of time saved.
Now there is a sales-oriented cloud negotiation solution on the market for Salesforce users: Documill Leap. It is coming from Espoo, Europe’s #1 creative hub in Finland, the most networked country in the world. It boasts the most advanced online collaboration technology available, with a demo available here.