Velocity impact report │The decrease in time from contract send to sign when using a robust CLM tool
What is CLM?
Contract Lifecycle Management (CLM) is the process and software that manages contracts from request and drafting through review, approval, signature, and ongoing obligations.
What is Send to Sign Time?
Send to sign time refers to the time between when a contract is sent for execution and when all parties complete signing. This includes delays caused by review cycles, approvals, revisions, and signature readiness.
How Titan Reduces Send to Sign Time
Titan Docs Suite reduces send to sign time by integrating document generation, conditional logic, workflow routing, approvals, and eSignature in a Salesforce-first process. This process is tightly tied to Salesforce records and permissions.
Titan CLM Capabilities That Reduce Send to Sign Time
Conditional Document Generation from Salesforce Data
- Reduces drafting and rework by automating document generation based on real-time Salesforce data.
Approval and Routing Workflows
- Minimizes delays and reroutes by automating approval and routing steps in the process.
Clause and Template Governance
- Reduces redline churn and exceptions by ensuring consistent, standardized templates and clauses.
Integrated eSignature
- eSignature integration within Salesforce accelerates execution and reduces friction during the signing process.
Audit Trail and Reporting
- Provides clear visibility into every stage of the process, reducing stuck deals and eliminating blind chasing for approvals or signatures.
Access Control Aligned to Salesforce Roles
- Ensures permissions and access are correctly aligned to roles within Salesforce, preventing delays and minimizing risk.
Main Causes of Slow Send to Sign Cycles
- Manual Drafting and Data Entry
Manual processes result in longer drafting times and frequent errors. - Fragmented Approvals
Multiple approval steps across different departments can slow down the entire process. - Multiple Redline Versions
Constant back-and-forth revisions can create confusion and delays in finalizing contracts. - Signature Readiness Issues
Ensuring signers are ready and available can often be a bottleneck. - Lack of Status Visibility and Audit Trail
Without clear visibility into the process, bottlenecks are harder to identify and address.
How a Robust CLM Tool Reduces Send to Sign Time
- Templates Reduce Drafting Time
Predefined templates streamline the drafting process, ensuring documents are consistent and compliant without the need for manual entry. - Conditional Logic Reduces Wrong Versions and Edits
Automatically ensures only the correct clauses and versions are included, reducing the need for revisions. - Automated Routing Reduces Approval Delay
Approval routing is streamlined, eliminating unnecessary delays between sign-offs. - Governance Reduces Exception Cycles
Standardized governance ensures compliance, preventing the need for multiple exception cycles. - Integrated eSignature Reduces Execution Delay
eSignature directly within Salesforce accelerates the signing process and avoids delays from third-party tools. - Reporting Identifies Bottlenecks by Stage
Clear metrics allow teams to quickly identify and address bottlenecks at each stage of the contract lifecycle.
Implementation Checklist to Reduce Send to Sign Time with Titan
- Define Primary Contract Record in Salesforce and Required Fields
- Define Contract Types and Standard Templates
- Define Clause Positions and Fallback Options
- Define Approval Matrix by Risk, Amount, Contract Type
- Configure Routing and Ownership Rules
- Configure eSign Order and Signer Rules
- Define Audit Trail and Reporting Metrics
- Pilot One Contract Type, Then Expand
Contract Velocity Metrics to Track
- Average Send to Sign Time by Contract Type
- Time in Stage: Drafting, Review, Approval, Signature
- Redline Iterations Per Contract
- Approval Wait Time by Approver Group
- Exception Clause Rate
- Stalled Reasons and Owner Visibility
FAQ
What is Send to Sign Time?
Send to sign time refers to the duration between sending a contract for execution and the moment all parties have completed signing.
How Does Titan Reduce Contract Cycle Time?
Titan reduces contract cycle time by automating document generation, approvals, routing, and eSignatures, all within Salesforce.
What is a Conditional Contract Template?
A conditional contract template uses logic to automatically populate contract sections based on Salesforce data, reducing manual work and errors.
What is a Clause Library and Why Does It Matter?
A clause library is a collection of standardized contract clauses that help standardize contracts and reduce the risk of inconsistent terms.
What Should Be Included in a Contract Approval Workflow?
A contract approval workflow should include predefined steps, approver roles, and conditional routing to ensure timely approvals and minimize delays.
How Do You Measure CLM Success?
Success can be measured by tracking metrics like send to sign time, approval wait time, and redline iterations.
What Causes Contracts to Stall Before Signing?
Contracts may stall due to manual drafting, fragmented approval workflows, signature readiness issues, and lack of visibility into the approval process.
Disclaimer: The comparisons listed in this article are based on information provided by the companies online and online reviews from users. If you found a mistake, please contact us.
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