We know what you’re thinking: CLMs are for legal teams, right? But think of how much time your sales team actually spends on (or blocked by) contracts.
In this guide, we’ll tell you how the right CLM software can transform sales cycles and empower revenue teams to create and agree contracts faster, without leaving their CRM.
Why do sales teams need CLM software?
Contracts play an integral role in the sales process. They set out the terms of a deal and, once signed, they formalize a new business relationship. But when they’re managed ineffectively, contracts can stand between sales teams and their revenue goals by creating costly bottlenecks.
Fortunately, CLM software can unblock sales contracts and speed up sales cycles. You just need the right solution.
How can CLM software speed up sales cycles?
1. Assemble contracts in a few clicks
Juro’s automated contract templates make it quick and easy for sales reps to generate contracts. Instead of drafting sales contracts from scratch, sales reps that use Juro can assemble contracts from within their CRM in just a few clicks.
This is achieved through an integration between the CLM and CRM. With Juro, sales reps can visit an opportunity in a CRM like Salesforce and initiate a contract by clicking ‘Create contract’ and choosing an existing contract template.
From there, a contract is created automatically in Juro with all of the opportunity data in Salesforce pulled into the template to populate it.
This automated workflow empowers sales reps to generate contracts in seconds. No more waiting for legal to draft them manually, and no need for repetitive contract admin.
2. Get contracts reviewed and approved faster
CLM software can also help sales teams by enabling them to get contracts reviewed and approved faster.
This is because a CLM like Juro enables sales reps to generate their own contracts, but with safeguards in place and on terms pre-defined by legal.
Juro enables legal teams to lock certain parts of a contract and set rules and conditions within the contract templates, for example. This gives them control over which terms can be changed in a contract and when certain clauses are removed or added.
Before Juro, we needed to review 100 per cent of customer contracts. Now that we can lock contract fields with Juro, that number has dropped to 12 per cent - Victoria Sörving, Chief Legal Officer, Funnel
With these guardrails in place, most contracts no longer need approval from legal. Even if they do, Juro’s contract approval workflows make this process quick and easy.
Before Juro, it would take weeks to approve a contract. Now, it takes seconds, and we know which version is the final one - Nicolas Costa, Director of Customer Ops and Account Management, Koombea
3. Create and agree contracts in one platform
Without an all-in-one contract management solution, sales teams rely on multiple different tools to get a contract over the line and close a deal.
Typically, contracts are drafted in Microsoft Word, populated manually using the data in their CRM, shared via email, moved back into Word for redlining, signed in a separate eSigning tool, and stored in a shared drive like Dropbox or OneDrive.
But when sales teams use a CLM like Juro, all this is automated and captured in one unified workspace. This means that revenue teams can manage the entire contract workflow in just one tool.
Enabling sales reps to create and agree contracts in place reduces friction and results in faster, more efficient contract processes. It also means less time spent transferring data between Word editors and CRMs, and more time focusing on closing your next deal.
Sales has gone from using three tools, a shared drive, emails, PDFs, and involving the legal team, to having one tool for everything - Callum Hamlett, Senior Revenue Operations Analyst, Paddle
To find out how Juro’s flexible and data-rich platform enables sales teams in scaling companies to close deals faster, check out these case studies or hit the button below to book a personalized demo.