Forrester thought leadership: Reduce Risk And Improve Your Contract Velocity With A CLM Technology Solution

Not only are contracts important, but the management of them and the processes that surround them are even more so. Companies around the world use contracts to negotiate and lock in business. Yet, many businesses continue to focus on sales process automation without paying enough attention to the importance of their contract processes.

Gaining new customers for your business is a big accomplishment that requires cross-functional effort by numerous teams. However, the hard work doesn’t stop when you close the deal or a customer places their initial order. In fact, that’s just the tip of the iceberg, and what comes next can be even more complex.

Quote-to-cash (often abbreviated as QTC or Q2C) is an important set of business processes that span the entire sales cycle. QTC involves a variety of activities and many departments across the organization—which has traditionally led to unnecessary siloes and inefficiencies.

Contracts are an increasingly important aspect of any business, from local mom-and-pop storefront to the largest enterprise organizations. But without a plan in place, the contract management process can become overwhelming for employees and full of risky manual errors.