Sales contract management reflects how a company organizes all steps of the sales flow and is essential for recognizing revenue. It is no surprise that the absence of a clear and structured contract management workflow will prevent any business from growing.
Sales Contract Management Stages
What are the CLM stages?
Contract Creation & Review
Contract Negotiation & Approval
Contract Execution & Fulfillment
Contract Renewal & Termination
Sales Contract Management Gone Wrong
Generating contracts takes a lot of time
Legal teams are slowing down processes
Difficult to see where contracts are in the lifecycle
Getting approval takes time
Hard to efficiently follow change requests
How to Make Sales Contract Management Efficient?