Sales

The quote-to-cash cycle encompasses many contractual factors that ultimately determine company revenue. These factors include pricing and discounts, order management, delivery schedules, invoicing and payment terms. Contraxx allows sales organizations to monitor these essential factors throughout the contract lifecycle, ensure compliance and ultimately maximize revenues.

Shorten the Sales Cycle
Time is money. The time attributed to contract assembly, negotiation and approval is estimated at 18% of an enterprise’s sales cycle.* Contraxx shortens the sales cycle by automating contract assembly, utilizing standard language and terms, streamlining approval processes and using alerts and notifications to ensure renewals and other date sensitive milestones are addressed. By shortening the sales cycle, companies can accelerate revenue recognition and optimize cash flow.

Ensure Approval of Non-Standard Terms
The automated workflow processes ensure that the appropriate approvals are identified and, if appropriate, granted for use of any non-standard contract terms that a sales professional may include in a contract.

Minimize Revenue Leakage
Aberdeen Research shows that, on average, revenue leakage amounts to 9% of an enterprise’s revenues, resulting from regulatory penalties, missed deadlines, lost sales, "maverick" pricing and transactional errors.* With the Contraxx solution, organizations can virtually eliminate such errors by automating workflow processes to ensure employee and contract compliance.

Monitor Commitments to Forecast Sales
By centralizing and systemizing contracts, organizations can utilize Contraxx to accurately forecast sales. By requiring all contracts to reside within Contraxx, you will avoid forecasting errors resulting from paper contracts that are not accounted for sales projections and/or your delivery requirements.

Optimize Customer Satisfaction and Retention
Contract compliance is as relevant to you as it is to your customers. Contraxx enables you to deliver on commitments, meet deadlines and prepare accurate invoicing based on contracted terms. Over time, this adherence to your business obligations will optimize both customer satisfaction and retention

*Contract Management: The Quote-to-Cash Cycle. Aberdeen Group, December 2006.