Why Do You Need to Integrate Your CRM and CLM?
Closed-won deals are usually only marked as complete after the sales agreement is signed, so any inefficiency in the Contract Lifecycle Management (CLM) process of an organization directly impacts its revenue growth. Lack of transparency and difficulty in communication between sales and legal teams result in longer contract cycle times and can even result in lost deals.
In the absence of an integrated contract request experience, a salesperson has to use multiple applications in addition to the CRM. When a new sale is imminent, they email, call, or directly message someone in legal to request the contract be drafted.
Problems with this approach
- Poor visibility and tracking of the current status of all the contracts related to an account
- Manual addition of counterparty information in CLM which already exists in CRM
- Increased risk of error due to manual entry
- Reduced sales productivity as salespeople constantly switch between applications to submit contract requests or check their statuses
Benefits of the Integration
Faster sales cycles
More focused salespeople
More time for high-value tasks
Auto-filled contract document fields
Easier collaboration with legal
Increased visibility into historic contracts
Automatically added counterparty information
How the Zoho Contracts to Zoho CRM Integration Works
This integration makes the critical functional aspects of Zoho Contracts which are relevant for salespeople available within Zoho CRM. The sales cycle management offered by Zoho CRM and the contract lifecycle management provided by Zoho Contracts work together as the best possible contracting process for sales teams.
Initiate contract requests
Salespeople can initiate new contract requests directly from a deal or potential record in Zoho CRM. The account in CRM will be automatically added as a counterparty in Zoho Contracts with all the details in CRM, and a contract will be created. The contract will be auto-assigned to a contract owner based on the assignment configuration you set when the extension was installed. The contract document will also be available under Attachments in Zoho CRM.
Track the status of contracts
Salespeople can track a contract's current status from the Zoho Contracts section in the respective deal record in Zoho CRM. They can also download the contract document and send it to the associated account as an email attachment.
Request to send for negotiation
Salespeople can request the contract owner in Zoho Contracts to send a contract for negotiation directly from the deal record in Zoho CRM, which the contract owner will receive as an email request. This option is also available for contract amendments, renewals, and extensions.
send for signature
Salespeople can request the contract owner in Zoho Contracts to send a contract for signature directly from the deal record in Zoho CRM, which the contract owner will receive as an email request. This option is also available for contract amendments, renewals, and extensions.
Salespeople can initiate post-execution management requests to the contract owner in Zoho Contracts directly from the deal record in Zoho CRM. This includes contract amendments, extensions, and renewals. The contract owner will receive this as an email request.