2011 Contracts Survey Report Now Available

Did you know that one in four companies experienced unplanned losses last year due to errors in their sales contracts? This helps explain why sales contract management has become increasingly important to the overall success, profitability and risk management of companies.

To gain insight into how law departments manage their sales [sell side] contracts and the effect it has on the success of their companies, Exari, partnered with InsideCounsel to survey its readership. The complimentary report with full results is now available here.

The detailed survey findings, compiled from more than 400 responses from corporate attorneys, suggest:

• Reducing risk in sales contracts is the highest priority for law departments
• Many companies experience businesses losses due to errors in sales contracts
• Prioritizing the automated assembly and management of sales contracts will allow companies to mitigate risk and improve overall performance

Streamlining contracting processes (both document assembly and management) will become increasingly important as legal departments feel more pressure from their business departments to improve turnaround time, particularly when the volume of sales contracts expands with the improving economy.

Download the survey findings here to learn more about the most important process issues of the sales contracts process.

Why CFOs Should Care About Sales Contracts

Are you actually booking all of the profits that your company is entitled to? Because revenue leakage due to inadequate management of sales contracts is regularly costing companies a slice of their hard earned revenue. Do you know the full impact that revenue leakage is having on your bottom line?

In a recent survey of more than 400 in-house counsel conducted by InsideCounsel Magazine and Exari, more than 25% of respondents reported incurring unplanned losses or write-offs due to errors in their sales contracts during the past year.

The Aberdeen Group has reported that, "poor management of contracts in the opportunity-to-order cycle results in revenue leakage between 5% and 9%," - a figure that can be the difference in making or breaking the revenue goal.

To learn more about improving contract quality and negotiations in order to reduce revenue leakage and book more revenue, download this whitepaper,"Improve Your Bottom Line: Reduce Revenue Leakage."

Photo credit: Brooks Elliott