November 19, 2015 by Apttus Corp
SAN MATEO, Calif. – November 19, 2015 – Apttus, the category-defining Quote-to-Cash solution provider, today announced the findings of its recent legal survey, entitled ‘The General Counsel’s Technology Report: Top Trends Impacting Legal & Contract Management.’ The findings, collected within a whitepaper, highlight the ongoing evolution of legal methodologies and technology. Contract Management solutions, such as those provided by Apttus, have empowered legal representatives to bring new layers of security, speed and convenience to daily tasks and long-term projects. When compared to traditional printed documentation, or even word processors, incorporating cloud-based solutions into the legal and contract management process has proven categorically more effective.
Over 100 responses were gathered from top-tier legal professionals and brand representatives from Fortune 1000 companies. Detailed analysis of the findings, paired with expert insight from Apttus’ legal team as well explanatory charts and illustrations, has been made available. The study also detailed:
- Contrast and coordination between sales and legal teams in the tech space
- Prioritization of mobile and speed compared to accuracy across legal departments
- Visibility on contract storage, analysis, and cycle teams in the cloud vs. traditional methods
- The importance of search within a contract’s contents, and its impact on legal recommendations
- Contract management’s proper emphasis and department within an organization
- Automation’s effect on the performance of a legal team, especially within growing companies
More detailed metrics, graphics, and solutions to these issues can be found within this whitepaper.
“The results of this survey highlight issues within the industry that are long overdue for elimination. As other industries progress into the cloud, our own processes must keep pace and advance alongside them to maintain accuracy and consistency,” said Jason Smith, senior director and legal counsel at Apttus. “We’ve tailored our solutions to not only protect the customer’s revenue, reputation, and revenue, but also to dramatically increase it.”
Apttus’ Contract Management solution provides a fast, efficient answer for these issues. Initial capabilities and details can be found here. Recent additions to its extensive offerings include:
- Increased contract visibility and efficiency through improved agreement creation processes, negotiation processes, and search capabilities
- Better management and optimization of contracts and agreements through the cloud
- Reviewing contract documents via Microsoft Outlook
- Expanded functionality through a Configurable Wizard that enables any business user to securely author well-formed contracts
- Synchronization with Apttus’ X-Author tool, which allows users to use Microsoft Word as an interface for the Salesforce Platform, increasing visibility, approval processes, security, and more
Contract Management technology like this also enables non-lawyers to be self-sufficient during the contract lifecycle, while still operating within legal framework. Reducing the number of inquiries made to legal for routine and standard contacts allows them to focus on more important tasks or more complex deals that require increased focus and attention. The result is a synergy between the commercial and legal sides of contract management, where speed is no longer sacrificed for risk management and contract managers are empowered to manage, rather than simply administer, the contracting process. Apttus will continue to conduct market research to identify further points of friction in both critical legal processes as well as sell-side business processes and ways to improve them.
Apttus, the category-defining Quote-to-Cash software company, drives the vital business process between the buyer’s interest in a purchase and the realization of revenue. Apttus is delivered on the Salesforce App Cloud, the world’s most trusted and comprehensive cloud delivery infrastructure. Applications include Configure Price Quote (CPQ), Renewals, Contract Management and Revenue Management. Additionally, Apttus’ patent pending X-Author technology enables Microsoft Office to be a user-interface with full interaction and control between Salesforce and Microsoft Office. Apttus is based in San Mateo, California, with additional offices located across the globe. For more information visit: apttus.com.