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Key Performance Indicators to Align the Contract Management Process With Your Sales Process


The merger of contract management processes with sales processes will become a top priority for CEOs and CFOs as the ability to get contracts signed, tracked and filed becomes a critical component in driving revenues. According to a recent study by Aberdeen Group: "Within the next two years, the percentage of a company?s revenue that is dictated by contracts will increase from 56% to 68%." From renewals to projections and compliance, the ability to close the contract in the shortest timeframe possible and readily access the executed contracts across the enterprise will become the leading performance indicator of a company?s long term success. Many companies have a contract management process that typically involves legal, procurement and finance. However, this process is not typically aligned with the sales process, and the gaps and bottlenecks between the two processes deliver sub-optimal revenue performance. By aligning the sales and contract management process, discovering the particular bottlenecks and the identifying KPIs to measure the success of these merged processes, companies can identify when and where to automate, and determine what services and solutions will work best to optimizeing efficiencies from contract creation to contract close.

Tags : echosign, contract management, sales, crm, ceo, cfo, kpi, bottleneck
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Published:  Jul 23, 2010
Length:  4
Type:  White Paper