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Fine-Tuning Salesforce.com: Working with Contracts

Smart contract management shortens the sales cycle, reduces the amount of errors and manual work and effectively accelerates growth. But how do you become smart about contracts in Salesforce? In this article, we’ll look at how Salesforce can be geared up for smooth working with contracts from the creation to renewal.

Contracts in Salesforce

Salesforce offers great means to store customer data related to contracts and gives teams unparalleled visibility throughout the contract lifecycle.

But copy-pasting data from Salesforce to draft a contract may be cumbersome. It also subjects the contracts to manual errors and version control problems when contracts are exposed to individuals’ desktops instead of automatically being saved to Salesforce.

Creation from 4 days to less than a half an hour

We once spoke to a business manager whose team used to spend 4 days drafting contracts manually in MS Word. That’s nearly a week’s worth of work to create a single contract and the operational man-hours spent on the task are striking. So, when this company came to look at additional capabilities to boost their Salesforce , they found that by implementing a document generation App in Salesforce, the process got a lot quicker and simpler.

A Salesforce document generation App, such as Documill Dynamo, allows you to create contracts from Salesforce, using Salesforce data, in just a few clicks. All the user has to do is click a “create a proposal” button to be taken through a document generation questionnaire which asks to choose the contract template and what appendices should the contract contain. It will then open up a document populated with all relevant information. Certain data in the document can still be tweaked manually should it be required (depending on the settings the administrator of the system has made), and the document is then automatically updated to Salesforce so that only one version and any customisation of the document remains.

Learn with a demo of Documill Dynamo how you can streamline your contract creation process in Salesforce.

Sending out bundles of documents in a single package & e-signature

Another pain point in contracts is often the bundles of documents that need to be sent out and getting the approval. With a document generation App, such as Documill Dynamo, users can easily share the contracts either by email or by saving them as Salesforce attachments/files.

When it comes to approving the document, the ability to sign electronically is paramount to a smooth contract process and benefits both parties in completing the last step of contract process quickly. The contract sharing and approval process where the contract is forwarded for an approval can be integrated with an e-signature solution, such as DocuSign, to maximise speedy closing of the process.

Or, you can automate the approval process depending on the value of the contract, for example, so that if a contract is less than a certain amount, the e-signature will be automatically added and the contract approved.

Contract renewal

When a contract comes to a renewal, you can also use the document generation App to update the contract without having to create and customise a new document. You’ll have an “update” button in Salesforce which will update the dynamic data fields to the most recent data from Salesforce. So, if you have changed anything in the customer’s Salesforce record, it will be updated to the contract.

In practice, this means that once a customer has agreed to renew a contract and you change the contract date or update the product information in Salesforce, this will then be automatically updated to the original document and any customisation or specific agreement terms will remain the same. You can then easily send this out for an approval as you did the first time around.

By | July 13th, 2016|
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