How Contract Management is Changing: 5 Questions with Conga

Posted by Amy Hanlon on Sep 12, 2017 7:00:00 AM
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  1.  One of the biggest delays in business operations is contract processing. How is Conga solving this issue?

Conga Contracts helps accelerate contracts processing in several ways.  End users can create contracts using of dynamic contract templates and maintain change history with a library of standard terms. This mitigates risk and speeds up negotiation.  Users can reduce delays in the negotiation cycle by tracking versions in Salesforce, routing changes that need approval to the correct person, and ensuring Salesforce is up to date with approved contract changes through the True-Up feature.

 

  1.     How does Conga Contracts discover who, when, why and how contracts stall?

With Conga Contracts, users can easily analyze where contract negotiations stall, and put processes in place to eliminate stalls in the future. Users can relate contracts to account or place them in a hierarchy. They can also conduct robust searches of the repository.  With Conga Contracts, duplicate or conflicting contracts can be identified, and important contract data such as expiration data can be seen.

 

  1.     What are some common contract situations that Conga Contracts can help resolve?

Situation:

A user cannot easily edit and store 3rd party contracts in Salesforce.

Solution:

Conga compares 3rd party document versions and displays discrepancies in the Conga Contracts redlining interface.  True-Up in Salesforce with the most recent version of the negotiated contract.

Situation:

Contract creation is tedious and time-consuming.

Solution:

The Clause Playbook and new UI (in this month’s Conga Contracts release) make it even easier to create, send, negotiate and true-up information in Salesforce

Situation:

Legal teams do not have time to review every contract revision.

Solution:

Legal’s input into the clause library ensures reps only have access to the latest clauses that are pre-approved by legal, meaning the legal team does not need to review every deal.

Situation:

It’s difficult to see which data has changed in a document when there are numerous pages or someone forgot to turn track changes on.

Solution:

Side bar insights in Conga Contracts highlight where changes were made so users can skip to each revision vs. scrolling through an entire document.

Situation:

If contract terms are rejected, the negotiator needs to be able to easily suggest an alternate clause.

Solution:

The Clause Playbook provides alternate clauses to fully replace clauses that are rejected or heavily edited by a customer.

Situation:

It’s hard for legal teams to control which clauses and terms reps use, leading legal to spend too much time and effort on standard contracts.

Solution:

The Clause Library and Clause Playbook features provide only legal-approved clauses, while the Content Control option allows legal to choose only which term changes would be accepted.

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  1.     Integrating technology for automation is a key way for a company to increase revenue growth and reducing costs. How is Conga implementing this into contract management?

Conga’s customers have experienced great gains in revenue growth and efficiency by automating their contracts process.  Conga customers automatically generated over 5.5 million contracts in the last 12 months.  For the State of Utah, by using Conga, one team eliminated the use of 30 spreadsheets - a 25% improvement of efficiency. The world’s largest independent hotel brand recovered approximately $600,000 in missed billing by using trigger dates and automated reporting of expired contracts with Conga Novatus.

 

  1.     How does Conga integrate with Salesforce? Is it a native solution?

Conga Contracts, ActionGrid and Composer are native solutions.  Conga Contracts, ActionGrid, and Composer ensure users do not need to leave Salesforce to perform actions throughout the contract cycle.  Data clean-up, contract negotiation, and document generation processes are completed seamlessly within Salesforce.

 

Topics: Partner Support, Conga, solutions

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