Solving Contract Chaos How Stratus Technologies Addressed Sales Contracts Challenges

Contracts Survey: Internal Approvers CreateBottlenecks to Finalizing Contracts Nearly half have 3 or more internal approvers 49.2 2 or fewer 50.8 3 to 9 SOURCE: 2011 SALES PRODUCTIVITY SURVEY: CONTRACT MANAGEMENT© 2010 SPRINGCM INC. ALL RIGHTS RESERVED. CHALLENGES

Surprises and Challenges Create Delays and Negatively Impact Financials Wide range of issues reported Contracts expired before a renewal negotiation is begun Lost or misplaced contractTerms and conditions added into a final contract that turned out to be non- Marking up/editing the wrong draftNone of these situations have occurred Missed forecast due to slow to sign contract or contract process obstacles Non-compliant terms in a final draftLack of visibility into contract approvals on the client/customer side 0% 5% 10% 15% 20% 25% 30% 35% SOURCE: 2011 SALES PRODUCTIVITY SURVEY: CONTRACT MANAGEMENT© 2010 SPRINGCM INC. ALL RIGHTS RESERVED. CHALLENGES 3

Priorities Focus on Control, Productivity and Reporting Wide range of issues viewed as important Reducing the time spent chasing contracts 2.0Reducing use of email and email attachments 2.1 Eliminating misplaced, lost contracts 2.1Eliminating paper from workflow and process 2.1 Eliminating lost documents 2.2 Improving visibility into sales contract 2.3 procesesEnnsure only most recent copy is being used 2.3 Automating unproductive processes 2.3 Improving internal sales team productivity 2.4 Confidence that terms and provisions are in 2.4 compliance Improving insight into status of contracts 2.4 Having early notice of impending renewals 2.5 SOURCE: 2011 SALES PRODUCTIVITY SURVEY: CONTRACT MANAGEMENT © 2010 SPRINGCM INC. ALL RIGHTS RESERVED. CHALLENGES 4

Solving Contract Chaos How Stratus Technologies Addressed Sales Contracts Challenges

by Roger Bottum

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