October 21, 2021

Speeding Up Enterprise Contract Negotiations In Sales

In the world of sales, it’s all about closing the deal. But, unfortunately, inefficiencies within the contract negotiation process can lengthen the time it takes to get to that vital closing stage.

Speeding Up Enterprise Contract Negotiations In Sales
Written by
Insights Team

Shortening the contract negotiation phase can be a challenge for salespeople. On the one hand, you don’t want to rush it because it’s essential that your business and your customers are on the same page. But, on the other hand, if you take too long to go back and forth, you risk losing the sale entirely.

That’s why having contract lifecycle management (CLM) software in place is so important. The right CLM will simplify and streamline the contract negotiation process, which will speed up the sales process and make your customers happy.

It’s a win-win situation!

Here are some reasons why sales teams should have a CLM in place and how DocJuris can streamline the contract negotiation process for your sales team while mitigating legal and financial risks.

How CLM Benefits Sales Teams

There are multiple steps within the contract lifecycle that can be categorized into two distinct stages—pre-signature and post-signature. The one that matters most for sales teams is the pre-signature stage.

During the pre-signature stage, you and the buyer will analyze, negotiate, compare, and comment on the contract as you work to agree on terms that set the tone for the future of your business relationship.

This stage includes multiple exchanges of information through contract drafts before finalizing the contract. As a salesperson, you want this stage to be as fast as possible without compromising accuracy or quality.

Sales teams can benefit from a CLM that effectively manages the contract negotiation and drafting phase by mitigating legal risks and ensuring both parties agree on the terms of their new business relationship.

5 Ways DocJuris Makes Sales Teams More Efficient

DocJuris is an effective CLM that can benefit sales teams from all types of industries. Here are some ways DocJuris improves efficiencies for sales teams.

  1. Produce first-pass markup: Use an integrated checklist to give your legal team a significant head start in their review. This saves everyone time and ensures consistency from one contract to another.
  2. Keep teams aligned: DocJuris gives salespeople the ability to quarterback internal comments with other departments, including legal, finance, and tax. This ensures everyone is using the same terminology throughout the document.
  3. Improve communication with customers: Nothing kills a sale faster than a slow response. DocJuris empowers you to get back to customers quickly, so you don’t lose momentum on the sale.
  4. Standard markups: DocJuris produces markups back to Word to give customers your review in a familiar format.
  5. Centralized hub: DocJuris keeps all your documents in one repository that can be accessed by anyone who needs it. This eliminates headaches and ensures that everyone has access to the most accurate information when they need it.

Are you ready to shorten the sales cycle within your organization? Schedule a demo today to see how DocJuris can improve the contract negotiation process for your sales team.

Learn how DocJuris saves time and risk with the industry's leading contract redlining platform.

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