Analytics: Administrators can make informed decisions by extracting actionable business insights from a variety of different contract data. Zoho Contracts includes more than 30 standard reports on various aspects of contract management. The custom dashboard gives you a top-level overview of your business contracts at a glance. Enable your sales teams to get shorter sales cycles with Zoho Contracts. Sales reps can initiate new contracts and track their status directly from the transaction record in CRM. You can also ask the contract holder in Zoho Contracts to initiate negotiations and signatures without leaving the CRM. Post-execution management: Zoho Contracts also supports the post-execution phases: modifications, renewals, renewals and terminations. It comes with predefined letter templates that are customizable for each of these steps. Traditional templates provide only one skeleton structure of the document, where members can contextually modify the content to make it complete. In Zoho Contracts, when a user modifies a contract by making changes to the contract, the generated change letter automatically captures the current changes as well as the entire contract history.
This virtual elimination of human intervention in document generation facilitates the lifecycle management of post-execution contracts. Zoho Contracts gives us better control over our contracts through its impressive automated workflows. We were able to eliminate almost all human error. Zoho`s broad product portfolio, seamless integrations, and fast team support kept us going. This state of change requires digital contracts that are easily accessible and modified. With powerful contract management software, you can automate and streamline contract processes and unlock their true potential. With CLM, legal teams can save a lot of time, which can then be invested in high-quality tasks. Contracts govern every penny that goes in or out of a business. When companies are equipped with the right contract management software to manage them, they can turn static document contracts into strategic assets. Creation: Our extensive library of predefined contract templates and the ability to create custom templates in Zoho Contracts make it easy to create contracts. The contract type templates and clause library in Zoho Contracts provide a structured approach to creating contracts.
This saves a lot of time in the editorial phase and ensures linguistic consistency in all your contracts. Our document editor offers advanced document compilation features, as well as all the collaborative editing, contextual annotation, and fill-in field features available in Zoho Writer. Today`s business landscape is more dynamic than ever: global supply chains are becoming increasingly complex, regulatory action is becoming more frequent, and distribution models are diversifying. More than ever, there is a need for a powerful CLM system that allows you to manage and get the most out of your contracts. Keep track of your business contracts wherever you go. The Zoho Contracts iOS app has a custom mobile dashboard that gives you an overview of key contract metrics. The app also offers all the features you need when you`re not at your desk. Contracts are dynamic documents that affect every part of your business.
The growing importance of the role of contracts requires cross-functional transparency and collaboration on contracts. In our first release, we support Zoho CRM integration. Sales reps can initiate a contract from the corresponding section of a transaction record in CRM and track the contract status from CRM. We have several third-party integrations and integrations with other Zoho apps in our roadmap. Zoho Contracts will also be part of the Zoho One package. Closed transactions are generally not marked as complete until the purchase agreement has been signed, so any inefficiencies in a company`s contract lifecycle management (CLM) process will have a direct impact on revenue growth. Lack of transparency and communication difficulties between sales and legal teams lead to longer contract terms and can even lead to loss of business. More than 50% of business development leaders say inefficiencies in their contracting process slow down revenue recognition. The main reason for this is that sales and legal teams work in silos and not in collaboration. With our Zoho CRM integration, you create transparency between your sales and contract processes and dramatically improve cycle times.
Sales reps can initiate post-execution management requests to the contract owner in Zoho Contracts directly from the transaction record in Zoho CRM. This includes contract amendments, renewals and extensions. The contract holder receives this request by e-mail. Sales reps can initiate new contract requests directly from a potential transaction or registration in Zoho CRM. The account in CRM is automatically added as a counterparty in Zoho Contracts with all the details in CRM, and a contract is created. The contract is automatically assigned to a contract owner based on the assignment configuration that you specified when you installed the extension. The contract document will also be available under Attachments in Zoho CRM. All activities performed by users at these levels are tracked chronologically. The follow-up at the phase level tells the contract owner whether the people involved in that phase have received the email notification, viewed the document and performed the planned action with the timestamps. Contextual Engagement Section: Failure to comply with contractual obligations is one of the critical risk factors for a company. Failure to comply with obligations can have adverse regulatory and financial consequences and has also led the organization to face damaged business relationships.
In Zoho Contracts, all obligations related to a contract can be tracked and managed directly in the “Obligations” section of that contract. The entrepreneur may assign obligations to the respective contractors and send them reminders. Administrators can stay on top of the real-time progress of these commitments using bond-based reports. .