|How you can best manage CRM |
and CLM in the cloud
Sales teams rely heavily on customer relationship management (CRM) applications to conduct business. Given the wealth of data contained within a CRM system, many organizations have attempted to leverage their CRM for contract lifecycle management (CLM) in order to minimize administrative burdens and costs. But CRM systems are not built to support contract functions, such as contract rendering, authoring, reviewing, redlining, approving, storing, and securing. A robust, dedicated CLM application is needed to truly meet the needs of the contracting team and achieve maximum effectiveness.
However, these companies have the right idea. Much of the data within the CRM system overlaps with that in a CLM system. But if the two are separate, users are forced to recreate information in the CLM system. This is not only a burden on time and resources but, when individuals are re-entering significant amounts of data, the risk for error is high. If incorrect or unapproved language makes its way into a contract, the consequences can be costly. Organizations that have invested extensive amounts of time and resources into building a comprehensive CRM database should be able to leverage their previous efforts correctly.
Now this is made possible for Oracle Sales Cloud users. RevitasNOW Contract Manager offers certified, out-of-the-box integration with Oracle Sales Cloud. Organizations running the Oracle suite with Oracle Sales Cloud no longer have to look far to find an integrated CLM solution. Revitas provides a streamlined CRM-to-CLM integration that enables users to quickly look up or review contracts, request new agreements, monitor authoring progress of requested agreements, automate workflows, and manage milestones, without having to navigate from Oracle Sales Cloud to a separate application. Our mutual customers will benefit from an integrated cloud solution that puts more powerful tools in the sales team’s hands to ultimately close more deals and enhance their prospect and customer relationships.