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How Sales CLM with Contract AI Helps Business Development Automation

Technologies such as contract AI software are significantly increasing efficiency and reducing risk for general counsel and legal operations. However, contract management reaches beyond law departments as they work with HR, marketing, IP and more. This blog post explores how CLM and artificial intelligence streamline contract creation, review and approval for sales – cutting the time spent on contracts and bringing revenue in more quickly for corporations.

It’s impossible to imagine the sales function at any organization without thinking about contracts. Sales operations professionals are responsible for handling some of a company’s most value-generating activities: overseeing daily sales activity, meeting with major clients, drawing up sales reports, designing new and more effective sales strategies, and working to market and promote company products and services.

None of those activities are possible if you can’t effectively manage your sales contracts and glean insights from them. Tools to manage contracts, including contract AI, are designed to help sales operations and the VP of sales have a single point of truth for their sales contracts. Business development automation makes the sales CLM contract process more efficient and the entire sales function more effective.

Contract AI Software in Sales

The sales function at any enterprise encompasses a vast array of duties, ranging from discrete contractual tasks to overarching strategy. On the contractual front, sales operations is responsible for many phases of contract lifecycle management, including:

The sales function doesn’t end there. In addition to handling contracts day in and day out, sales operations professionals find new opportunities to expand the organization’s client base and devise new and innovative ways to market products and services. It’s also responsible for setting specific critical enterprise goals and making sure they’re met, including quarterly or annual sales goals and ongoing productivity goals.

Underlying all sales functions, whether drafting a contract or setting the right sales goals for the entire company, is the expectation that the VP of sales and the sales operations team will be continuously improving the effectiveness and productivity of the sales team.

Technology is the key to ensuring that continuous improvement. In particular, sales CLM tools and contract AI empower sales operations professionals to better tackle both aspects of the job by making the contract process more efficient and effective from start to finish. AI enabled sales management software helps by creating a central repository for the organization’s contract data. The central repository serves as a critical source of information for making informed decisions about sales goals and marketing strategies.

Finding the Right Sales CLM Solution and Contract AI Software

While every company and sales department is different, there are some common barriers that get in the way of being able to perform the sales operations function effectively and efficiently:

A useful sales CLM tool and contract AI software will remove barriers and help sales by:

Speeding Up CLM for Sales – And Welcoming Revenue More Quickly

Sales operations professionals understand the role of contracts in doing their job right. However, they need the right CLM tools for sales to manage those contracts end-to-end. Onit’s CLM solution helps with business development automation for the entire contract management process, allowing for a more efficient sales function and better insight into sales data. Contact us today to learn more.

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