Contract Lifecycle Management implementations often lead to broader discussions on Systems and Process Integration for Sales Operations.
More often than not, these discussions turn to value realization from process integration weighed against the investment costs of system integrations.
Seems odd that client organizations would look at process streamlining from solely a value returned perspective while streamlining information flows through systems integration with a CLM is viewed as an expense to be accounted for.
For those of you interested in hard ROI figures, please do look at our updated ROI calculator and to see Gabe Teninbaum’s (of Suffolk University) take on CLM ROI, go here, but do come back and hear me out.
Process streamlining from sales rep to deal desk to sales management to finance to legal for agreement/deal approval (in any such order) takes time, involves people’s salaries, opportunity costs, and the like. For some larger organizations, consulting companies may be involved; for others, simply research, re-do’s and re-try’s. This is not a bad thing at all, it’s only through trying that we succeed after all. But there are costs.
System integration – CRM and Opportunity details to agreement generation by the CLM, internal sales approvals via CLM workflow, incorporation of product or service data from OM platforms, routing for financial and risk approval, are simple configuration items in the contemporary world of Software-As-A-Service. The complexities of technical integrations are tremendously reduced, and the risks are lower, success likelihood is higher than ever. And yes, there is derived value.
So, the world is not binary (at least on this side of the Matrix) and the balance between integrations to streamline and aligning processes, or conversely streamlining processes and then aligning systems is firmly in the middle.
Let’s look at some specific pivot points in our next post.