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Since sales contracts dictate virtually every aspect of a business relationship, including payment terms, service levels, and pricing, they play a critical role in the quote-to-cash process. By enabling companies to take a structured approach to managing sales contracts, Emptoris Enterprise Contract Management can help companies to accelerate sales cycles, reduce revenue recognition issues, and create more profitable contracts.
Managing Complexity in the
Quote-to-Cash Process
The process of managing deals from initial sales proposal through contract creation, negotiation, and acceptance is complex and sales operations, field sales, planning, finance, legal, product management, and consulting are usually pulled into the process at various points.
Some typical challenges that sales organizations can encounter during the process include:
- Coordination of the quote-to cash process across all resources
- Ensuring deals contain accurate product, pricing, and terms
- Proper review and approval procedures are enforced
- Maintaining an efficient and effective process
Addressing the above challenges by simply applying more people to the equation rarely solves the problem.
The Quote-to-Cash cycle does not stop at contract acceptance. To properly manage the process throughout the customer lifecycle, organizations require a solution that can:
- Link contracts to financial and operational systems to enable proactive management of deliverables and milestones
- Notify the appropriate sales manager as contracts near the end of their term to capitalize on renewal and potential up-sell opportunities.
Improving Sales Effectiveness with Emptoris Contract Management
Emptoris Contract Management, a leading enterprise contract management solution, enables companies to improve their effectiveness and efficiency in each stage of the Quote-to-Cash process.
Proposals—Improve Deal Quality
Before the sales process even begins, the Emptoris solution helps improve opportunity quality by enabling professionals across functional areas to collaboratively develop a comprehensive knowledge base from which sales Requests for Information (RFI) and Proposal templates are maintained. These templates contain appropriate product, pricing, and benefit information that can be quickly assembled and provided to prospective buyers to move your organization forward in the Quote-to-Cash process.
Deliverables Management—Ensure Commitments Don't "Fall Through the Cracks"
Proper visibility into contract deliverables and the ability to manage commitments made to customers are key to ensuring contract terms are enforced and customer satisfaction is maintained. Emptoris Contract Management links daily operations to companies' contracts so that companies can proactively notify professionals of upcoming commitments and related dates.
Contract Amendments—Keep Pace with Changing Business Relationships
Dynamic business relationships often result in countless contract amendments, which challenge companies' ability to manage their constantly changing obligations effectively. Throughout the customer lifecycle, the Emptoris solution consolidates multiple amendments to each contract to provide a single view of contractual relationships so that companies can understand and meet their obligations.
Renewal Management—Manage Ongoing Revenue Opportunities
As contracts near the end of their term, companies have an opportunity to ensure that their customers remain customers. Emptoris Contract Management provides the business insight companies need to plan for upcoming renewals, negotiate new business terms, and take advantage of additional selling opportunities.
Learn More about Emptoris Contract Management:
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Overview 
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