Stopping the Contract Chaos is a Choice, Easy with Cheers
Many businesses, when starting, don't have a contract process in place, not even a template. As they grow, they start having a contract template that adapts with their business model but easily becomes a Frankenstein. Cheers is designed to transform this chaos into systematic success by standardising, automating, and enhancing your contract management process. Let's explore how.
Initially, a contract template—or playbook—serves as a crucial tool, outlining business rules to assist end users like the sales team, operations, and procurement. Ideally, this means sending a client agreement that accurately reflects pricing, scope, and payment terms aligned with company policies. However, reality often diverges from this ideal.
Real-world scenarios reveal the cracks in this foundation. For example, Dwight might bypass standard procedures by modifying a Client Agreement or sidestepping sensitive topics like payment methods. Such practices, especially prevalent in the hectic quarters 3 and 4, lead to financial discrepancies and corporate headaches, ultimately stalling business momentum.
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Isn't running a business challenging enough for adding in your plate a weak contract process?
How to Rock in Contract Negotiations?
Knowing the terms. Everyone at the company should know where to find the templates (ideally with a “self service” source), and in which scenario each template serves. Salespeople always know better than anyone the art of getting to a yes, firstly gathering data, later matching the needs with an offer. That offer needs to be aligned with the company policies (including contracts) and the goals of the team.
How Can the Business Be Aligned?
It's better to have the difficult conversation first when the worst scenario is imagined and hasn't happened just yet. So everyone can think straight and clear on what they expect as an outcome and how to deal if something doesn't go as expected. There are a few things that are a must in every contract:
- Object of the contract, the services being rendered or goods being purchased
- The time it is expected to be delivered and how
- The payment, fees, and methods
- Termination
- Penalties
Of course, there are others, either your lawyers or Cheers templates will guide you.
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How Lawyers Can Contribute to the Success of the Business?
Setting a template that applies to the 80% of the cases where the company will be doing business (also known as core business), the rules when they apply, and a system.
What is the process of this contract process to secure the success of winning that contract without putting the company at risk?
Everyone knows the marketing funnel of creating leads, prospect, qualify, and offer. Well, that offer is the pre-contract stage. If accepted, a contract should follow for its execution (countersignature). Although most of the negotiation has happened, there is still time to negotiate here the terms and conditions of the contract, and therefore start an unwanted dance of back and forth clause changes.
Having a system to track this negotiation, and later improve the process to have a friction-free system is crucial. Cheers uses analytics to show you what is happening during this process and after, so you have the full picture during the contract cycle.
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All systems are good because they measure certain variables that allow you to know what is working and what's not working. Beyond signature, a contract is still alive. Once the parties have agreed, the party starts. The longer this relationship goes, the better are the returns.
Create, sign, and track contracts and templates through the entire lifecycle on Cheers—your single platform for compliance, control, and smarter decisions.
End contract chaos: start your free trial on Cheers or schedule a call with an expert today.
