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The hidden costs of sales contracts

If there’s one thing salespeople are great at selling, it’s books about how to be successful at…selling.

Need advice on how to become a power closer? Looking to hone your negotiating skills, presentation techniques, or any other prerequisite to becoming a quota-crushing superstar? Amazon alone has you covered with over 30,000 choices.

Given the wide range of topics, I suspect the majority of pundits include a chapter or two on the critical importance of time management. But the message doesn’t appear to be sinking in with most sales professionals.

Consider that only a quarter of sales reps follow a structured time management philosophy, and nearly 65% of the typical salesperson’s day is spent on nonrevenue-generating administrative activities.

The challenge is further illustrated in a recent collaborative study between 451 Research and Adobe, in which respondents identified the most important sales and marketing opportunities for their organizations.

The number one objective? Speed up revenue recognition by digitizing sales processes.

The truth is that most sales cycles are replete with distractions that steal time (and money). The goal for every sales leader should be to identify and eliminate these performance killers, freeing sales reps to do what they do best.

Improving the bottom line on contracts

Imagine the impact of improving focus by just 10-20% by tackling some everyday sales tasks that are incredibly important but also extremely time consuming.

Contracts are the perfect example.

Eight-five percent of businesses still rely on manual contracting and signature processes. As a result of these and other factors, the average contract takes in excess of 4 weeks to go from draft to execution.

If this describes your organization, now is the perfect time for contract automation. It’s a simple and affordable solution to shorten sales cycles, and it’s a surefire way to provide more time for your reps to spend their valuable time identifying, nurturing, and closing deals.

But wait, there’s more!

Every document your sales team needs to get a deal across the line and onboard a customer—NDAs, proposals, welcome letters, invoices, renewal reminders and others—is an opportunity to streamline your sales cycle through automation.

At this point, you might be wondering how this aligns with the investments you’ve already made in CRM systems like Salesforce. The good news? It’s a perfect fit.

As we’ll discuss in our upcoming July 31 webinar, Demystifying Contract Lifecycle Automation for Salesforce, contract automation belongs where your sales teams spend their time, in Sales Cloud.

In the webinar you’ll learn practical tips for identifying contract bottlenecks that cause inefficiencies and how to streamline time-to-cash by automating contract creation and processes directly within Salesforce.

Join experts from Nintex and Adobe to discover:

  • Methods to break free from the agreement ruts that cause delays and inefficiencies
  • How easy it is to automatically create contracts using your existing Salesforce data
  • Tactics to expedite contract redlining and signature

 

Register for the webinar today!

 

 

Matthew Hutchison

For over 25 years, Matthew Hutchison has been helping organizations realize the rewards of digital transformation through technology and process innovation. Matthew is especially passionate about technology’s role in driving operational efficiency, improving collaboration, and delivering optimal customer and employee experiences. Prior to joining Nintex, Matthew held a variety of marketing leadership roles for organizations ranging from start-ups to industry leaders.