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October 4, 2022 Business Technologies

Does Salesforce Have a Contract Management System?

BrainSell Editorial Team
By Brainsell Editorial Team

Yes, Salesforce has a contract management system. Salesforce is best known as a Customer Relationship Management (CRM) platform. In fact, it is one of the most popular CRM solutions available in the market. However, Salesforce offers contract management system options as an add-on. These contract management systems work within the Salesforce interface.

What is a Contract Management System?

Contract management software,  also known as contract lifecycle management, is a digital platform that can help you create, negotiate and renew contracts. With contract management software, you can track and manage your contracts through all stages, from early negotiations to drafting and authorizing contracts through tracking obligations and renewing.

Any reputable contract management system will allow you to:

 

  • Automate aspects of your contract management process.
  • Increase the security of your contracts.
  • Access a library of pre-approved templates
  • Easily track and audit your contract review and approval process.
  • Use safe and accessible cloud-based storage for all contracts.
  • Empower collaboration between finance, HR, procurement, and legal departments.

Why should you integrate your CRM and Contract management software

Integrating your CRM and Contract management software will allow you to close deals faster. When CRM information and contact information are accessible within a single system, everyone in your company can better understand the entire customer journey.

When your CRM data and Contract Management are managed in the same interface, you can:

 

  • Avoid messy and time-consuming duplicate data entry. 
  • Leverage the best software to automate administrative tasks. 
  • Allow salespeople to spend less time monitoring contract status and more time with customers.
  • Ensure that all team members have access to the correct and current contract. 

Contracts are often revised over the life of a sale, so it’s essential that everyone can make decisions based on accurate and timely information. Managing your CRM and Contract management software on a single interface will help you avoid mistakes, and better communicate with your clients.

Configure, Price, Quote Software by Salesforce

If you are a Salesforce user looking to connect your CRM and Contract Management software,  Configure, Price, Quote Software by Salesforce (CPQ Salesforce) is likely your best option. CPQ Salesforce is hosted within the Sales Cloud platform. Therefore, you can directly link to your CRM.

CPQ Salesforce can help you better understand and meet your client’s needs. 

CPQ Salesforce is used to:

 

  • Configure – CPQ software enables you to configure bespoke offerings. 
  • Price – CPQ helps you determine and manage the cost of all your products and services. You can control volume discounts, percent-of-total subscriptions, pre-negotiated contract pricing, and channel and partner pricing within Salesforce’s interface. 
  • Quote – CPQ allows you and your sales representatives to generate a quote, send it via email, and close a deal with e-signature options.

Pairing Salesforce CPQ and Salesforce CRM can help you streamline your process, automate administrative work, and give your whole team access to reliable, consistent data from every step of the client experience. 

Request a Demo to know more about our services.

Want a Side-By-Side Comparison?

Check out this comparison guide to see how Salesforce stacks up against a notable market rival – HubSpot!

 

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