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5 Ways E-Contract Management Is Reshaping CRM
Shortened sales cycles and convenience benefit companies and customers.
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In today's business landscape, everything is a customer relationship issue. Traditional CRM systems focused on tracking interactions with customers and prospects primarily in terms of sales activities, but that isolated focus is shifting as businesses work to increase their value to customers and make it easier for consumers to deliver initial and repeat business. With this goal in mind, organizations are expanding their definition of CRM to include processes such as contract management. The ubiquity of e-contracts is fueling this integration and increasing the affinity consumers feel for the brands they patronize.
There are several reasons enterprises should include Web-based contract management in their CRM strategies. Consider the following:
1. Customers have choices. Customers have plenty of options, and they often make their choices based on quality, cost, and experience. When the price and value are equivalent between competitors, customer experience becomes paramount, particularly at the final point before the sale—when it's time to sign the contract. When prospects can quickly complete intuitive Web-based contract tasks that take seconds rather than days or weeks, both businesses and their customers win.
Read the entire Mangesh Bhandarkar article
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