Thursday April 20, 2017 0 comments
BROOMFIELD -- Conga, an application provider for companies that need to automate and enhance their business productivity, today announced the release of Conga Contracts, a new solution on the Salesforce platform to help sales teams accelerate the contract creation, negotiation, management, and analysis processes among customers, sales and legal teams.
Conga Contracts puts sales reps in the driver’s seat to create and negotiate changes collaboratively within the controls set by the legal team and have the visibility they need to closely monitor their contracts - drastically speeding up the contract negotiation process, the company said.
The first two editions of the Conga Contracts product available today are the Negotiator Edition, a lightweight solution for redlining and data reconciliation; and the Business CLM Edition, which includes all the functionality of Negotiator plus additional CLM features such as a native Clause Library, Clause Bundles, Contract Progress Tracking, and Contract Families.
Both editions are designed to work with Conga Composer and Salesforce CPQ, as part of the Salesforce Quote-to-Cash product set, the company said.
Conga said the solution bridges the divide between sales and the legal as they collaborate on contracts to close a deal. Through Conga Contracts, legal teams establish different contract types, such as master services agreements, disclosures and standard terms and conditions and acceptable alternatives – around fees, auto-renewals and others – via a clause library in Conga Contracts or the Salesforce CPQ term library.
Sales teams may select a group of clauses and modify contracts within parameters set by the legal team, ensuring a smoother, faster sale, the company said.
When a contract or document is ready to be negotiated, the sales person uses Conga Contracts to tap into the library of approved clauses, allowing them to move quickly and flexibly without needing to escalate every slight adjustment to the legal team for yet another review, the company said.
Conga said this speeds up the contracting process by automating simple back-and-forth steps like negotiating clauses in the document, reconciling changes after negotiation, seeing agreements through the e-signature process and ensuring they are saved in the proper Salesforce repository.
Conga said Conga Contracts addresses a key pain point for businesses, where contract-related delays often bog down the sales cycle.
Sales teams are able to leverage their organization’s clause library, established by the legal team, to create a highly dynamic, automated process capable of handling various contract scenarios to reduce or eliminate delays in contract creation and negotiation, the company said.
Conga Contracts is available in two editions: Conga Negotiator and Conga Business CLM. High-level features of Conga Contracts include:
- A clause library and clause bundles, which are groupings of pre-approved clauses created by the customer’s General Counsel for use by sales
- Contract families to easily understand the relationships of contract documents for an account
- One-click “send for negotiations” delivery of a Microsoft Word document that buyers can easily redline
- Fast and easy View Redlines and True-Up™ to accurately see and incorporate negotiated changes back into Salesforce data, term, and clause fields
- Individual, team, department, and enterprise-wide reporting and analytics that provide insights to identify slowdowns for better forecasting, training needs and future process improvements
- Easy integration with e-signature partners like Adobe Sign, DocuSign, and Sertify
With these features, Conga said its customers have access to analytics that help them better understand their own contract negotiation processes. Benefits to customers include:
- Shrinks contract negotiation cycles significantly
- Enables sales teams to negotiate on their own within a framework set by the legal team
- Keeps Salesforce current and accurate with minimal effort
- Identifies common bottlenecks in the negotiation process, then eliminate them
- Gains insights into sales contracts across contract types, teams, regions, departments and the enterprise
- Improves forecasting accuracy for better decision-making
For more information on Conga Contracts, visit www.getconga.com