A Look at Top-Tier Contract Management Software Features
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Does your organization or team work with contracts daily? If yes, then you already know that the contract lifecycle is a complex process that needs to be managed well.
That’s where contract lifecycle management (CLM) tools comes in. They are known to automate many processes in the contract lifecycle management process to speed up manual tasks and keep content accurate.
If you are on the lookout for contract management software to help automate your workflows that can integrate into Salesforce, join us below. We explore contract management tools and features that can help your business save time any reduce any sort of manual errors.
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A Contract Management System (CMS) platform can help you manage your contracts throughout their lifecycle. Each CMS software is unique and provides a specific solution for contracts, but they all help in the following areas.
CMS software should help your teams create contracts from templates. These contract templates must contain fields so that employees can insert important information like terms, conditions, and parties involved. Your templates will also need to be customized to meet the brand requirements of your business.
A good CMS platform will let your employees track changes to the contract with version control features. It will also allow you to store and organize your contracts in a central repository. Make sure to find a CMS platform that enables you to add metadata and tags to contracts so that you can search and find them faster if they provide a database.
You will need a CMS platform that allows you to share contracts so that your different business teams can collaborate on a single document with comments and notification reminders. It should also provide features to approve contract workflows, such as alerts for reviewing or approving an agreement. You should also get the option to track the status of your contracts in the approval workflow with dashboards.
Don’t you want to give your employees the ability to set reminders for contracts? A solid CMS platform can help you do this, which is useful for renewing agreements. Other important tools to have are ones that let you track the performance of a contract and provide eSignatures to electronically sign digital documents.
And why not let your managers generate reports on contract data? CMS platforms can achieve this task and give you access to audit trails or alerts to ensure that you are compliant with the regulations in your country.
If you need more feature examples, feel free to contact us. Still, we hope that you have all the information you need to find a superior CMS platform before integrating it with Salesforce to automate data sharing.
Software for Contract Management in Salesforce
You can count on Salesforce to be your best Customer Relationship Management (CRM) platform, as it is highly customizable and can be extended with robust third-party integrations. However, Salesforce does not have a dedicated or out-of-the-box solution for contract management.
Contracts are a huge aspect of sales, marketing, and customer service processes that fall under Salesforce’s domain, so we need software that can optimize contract-related tasks to essentially streamline processes for Salesforce.
There are many third-party applications that specialize in contract management and can integrate with Salesforce. Not to worry, though. Breathe in, breathe out, relax 🙂 we can help you with your search. Let’s take a look at a few reliable apps to consider for contract management.
Salesforce CPQ
Without searching too far away from Salesforce, you can stay within the ecosystem and try Salesforce CPQ (Configure, Price, Quote). This solution helps your sales reps, as the name states, configure prices or products and generate quotes. Salesforce CPQ is an excellent choice for sales quotes but can also be used for some tasks associated with contract management.
If you need a solution that is more dedicated to contract management than just sales quotes, then you will need to integrate Salesforce CPQ with another CLM app.
Salesforce CPQ Features Worth Remembering:
Nintex DocGen for Salesforce
Next up, we have Nintex DocGen for Salesforce. The solution was previously known as Nintex Drawloop, so if you cannot find them, try updating your search with their new name.
Nintex DocGen for Salesforce can help your employees generate contracts and documents from your favorite CRM platform. They make it onto our list since they have automation features to assist you with document creation and distribution, which are essential for streamlining contract management processes.
Nintex DocGen for Salesforce Features Worth Remembering:
Titan
Last on our shortlist, but our favorite platform for contract management is Titan. It’s our treasured solution since you get solutions for any Salesforce use case, not just CLM. Titan delivers no-code digital experiences for Salesforce by letting your employees create custom contracts, forms, web applications, e-signatures, surveys, and more. We are also #1 on the Salesforce AppExchange!
Titan Features Worth Remembering:
Frequently Asked Questions
What does a contract management software do?
It helps to optimize and speed up all the contract-related tasks in your CLM processes.
What are the components of a contract management system?
Each contract management tool or system is unique in its offering, but generally, a few components that most contract management systems provide are contract creation, a central location for storing contracts, and tools to help your employees collaborate on documents.
What are the advantages of contract management software?
They empower your sales reps to close deals faster as they can spend more time focusing on customer engagement rather than on manual tasks related to CLM processes.
Titan Software for Contract Management with Salesforce
Thank you for reading our article on the best contract management software and the features that it provides. We focused on software with contract lifecycle management tools for Salesforce, as contracts are an important factor in customer relationship management, and over 150,000 organizations use the CRM platform.
If you are looking for more ways to extend your Salesforce platform, digital experiences, and workflow processes, feel free to contact us on one of our social media channels below.
We hope to see you soon!
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.
