The legal team is essential for the success and sustainability of any business. Their efforts are crucial in ensuring that the company operates within legal boundaries, effectively manages risks, and makes informed decisions contributing to long-term growth. Companies that do not utilize contract workflow automation often face significant challenges in their legal teams, particularly in areas such as contract management, compliance, and collaboration. Implementing solutions like Salesforce Contracts, which is built on the Salesforce platform, can greatly reduce manual effort, improve contract accuracy, and speed up the contract lifecycle.

Here are three amazing features that help us utilize the Salesforce Contract effectively.

1. Streamlined End-to-End Contract Workflow Automation
2. Enhance Contract Negotiation Efficiency
3. Leverage Advanced AI Support for Clause Generation

Here’s a detailed overview of each feature of Salesforce Contracts:

• Streamlined End-to-End Contract Workflow Automation

Salesforce Contracts offers a well-defined process automation framework that supports the entire Contract Lifecycle. Each stage aligns with industry standards, including use cases for one-click contract activation workflows, such as Non-Disclosure Agreements (NDAs), a comprehensive process cycle for Master Service Agreements (MSAs), and a customized flow for Statements of Work (SOWs) and change requests. The image below illustrates the implemented stages of the Contract Lifecycle Management (CLM) process.

• Enhance Contract Negotiation Efficiency

Salesforce Contracts simplifies the negotiation process, allowing internal teams and external parties to collaborate more efficiently. Real-time redlining and version control make tracking contract changes easy. Integrated tools like Chatter and Microsoft Office 365 let stakeholders review, comment, and approve documents seamlessly, reducing delays and errors. The image below shows all negotiation-related activities on one platform. Salesforce Contracts speeds up approvals, shortens negotiation cycles, and accelerates deal closures.

• Leverage Advanced AI Support for Clause Generation

Use the user-friendly interface provided by Contracts AI to draft legal clauses based on input parameters or user prompts. Automate the clause-drafting process and avoid manually searching through legal journals and websites. Minimize the need for extensive collaboration with various stakeholders. Enhance consistency in language and format. After approval and activation, the clause becomes readily accessible for consumption.

In summary, implementing a contract management system is vital for businesses that want to maximize efficiency, ensure compliance, minimize risks, and achieve superior outcomes. Investing in contract management is not just beneficial; it streamlines processes and provides crucial insights that empower strategic decision-making. Salesforce Contract is the ultimate solution to transform your business processes into digital formats, driving efficiency and growth.

If you’re interested in learning more, feel free to direct message me. I’d be happy to support your legal team in more efficient ways.

Important Note: This article is originally published at Dipti Kalaria’s LinkedIn.