Ever had the deal that got away? At the end of the quarter, you don’t want to be the one who sent the wrong version of a contract, costing you a multi-million dollar win! These mistakes can easily be avoided with the right tools, processes, and cross-functional teamwork.
Learn how Salesloft Chief Revenue Officer Steve Goldberg, Ironclad Chief Sales Officer Dean Cormier, and General Counsel Chris Young have aligned their teams to get to revenue faster — and smarter.
You’ll learn how these leaders use Ironclad to:
- Reduce negotiation rates by 43%
- Accelerate the deal cycle
- Get contract visibility into forecasting
Key Takeaways
Here are some tips from our panelists:
- Institute a “no negotiation” threshold. Through instituting a dollar threshold on our sales contracts, our redline rate under the threshold decreased by 89% year-over-year, with no loss of deals. We’ve found this approach to be popular with our sales team as it gives them a very firm foundation to push back on redlines. The threshold can also be moved up over time as your company’s risk calculus changes.
- Hitting SLAs (or SLC, “service level commitments” as GC Chris Young calls them), are critical. The sales team needs to be able to convey expectations to the customer, and if they can’t the customer experience will be adversely impacted.
- Because every minute counts, save time by viewing deals in real-time in Ironclad. A Salesforce veteran, Ironclad CSO Dean Cormier noted that he sees deals at different stages of approval, various thresholds, and much more in real-time on Ironclad where the deals are created. This saves him hours of waiting for the data to sync back to Salesforce, and he can troubleshoot any points of friction faster than before.
Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.
