1. When can we get the customer contract signed and sealed?
As a senior sales executive David is primarily concerned with getting his sales teams efficiency up by implementing smooth processes leading to revenue and quicker turn around on deal closings. His team needs to get approvals for special pricing and discounting quickly, navigate internal controls for special terms, and have the contract language reviewed by legal. He would like to know in real time the stage and status of approvals of the contracts on key deals in the pipeline and who is holding it up?.
eContracts allows each member of David’s sales team to view the progress of contracts, SOWs, RFPs at any time and allows David the visibility on all contracts in progress by simply searching by customer or by sales team. He is able to proactively push the process along if any contract is stuck in the approval process with any of the reviewers or decision makers in the process.
2. Which contracts are coming up for renewal or expiring?
To ensure recurring revenue and to drive contract extensions David and his team has to have the ability to know which contracts are coming up on renewal or expiration months in advance to ensure continued revenue from customers.
eContracts proactively alerts key stakeholders and the account owners involved with an account on the status of a contract coming up for renewal, and/or expiration well in advance of the date so that the sales team can be engaged in the process of renewal of the contract.
3. What are our contractual obligations and are we meeting them?
Keeping track of customer project execution, meeting of payment obligations by the customer (customer invoices, payments), upcoming deadlines of key deliverables are integral to a healthy management of an account.
eContracts provides summary level details of all of the payment obligations coming up and met by the customer along with notifying key stake holders of an account on deliverable dates so sales involved throughout the management of the account helping keep accounts healthy and in the positive form for the sales teams whose compensation could be tied to revenue recognition goals.