Nintex contract flow enables contract process automation for everyone, across all systems of record. It provides a powerful solution to help our customers go from “quote to signed contract without friction.”
That’s because Nintex connects the people, process and content that make up a contract lifecycle regardless of system.
It is understood that contracts are the language of business as well as a foundational element to how business is conducted. Therefore Contract Lifecycle Management (CLM), because of this, is something every company must embrace.
Contract management is a key component of the sales cycle but it’s often the longest and most difficult to manage. To effectively manage contracts, a platform must be used that listens for events across the enterprise, easily hooks into different systems of record, provides workflows that can be started in various ways and provides seamless process intelligence, without the use of code.
In today’s sales landscape, it often is difficult for companies to keep up with evolving technology that can improve the selling process which in turn can improve the customer relationship. Effective management of these contracts can be incredibly difficult for a few reasons.
Let’s see why:
1. Multiple Teams
Most contracts follow a similar lifecycle footprint. For example, the beginnings of a contract are often rooted in a marketing lead generated from within a sales or marketing process. Once a lead is established a quote is usually needed from the sales side. Once the quote is agreed to legal teams and assets are leveraged to acquire a contract for the opportunity. From there, order forms are often used by sales operations teams to begin the fulfillment process leveraging the quote and contract established with the customer. Fulfilment connects the sales and finance organizations to ensure a customer pays for and receives the product or service. Finally, account management teams are needed to service customers through the course of the contract and renewal.
This example covered six teams and, in some cases, more are included.