Integrating CRM systems with contract management software

A single source of truth (SSOT) is not a system you can readily purchase off the shelf. It’s not a strategy you employ either, though it may be a consequence of it. Likewise, you can’t weave your way through online courses, collecting accreditations, and become an experienced single-source-of-truther. 

Perhaps we’re conditioned to reduce a foreign concept like this to to something more familiar, like we would with the agile methodology. Ultimately, a SSOT is not a set of action items but a framework that helps you think about how to structure the processes, systems, and methodologies that comprise your company. 

It’s a constant reminder of the state of being you’re trying to drive your company towards – a state in which everyone in your organisation relies on the same accurate data, collated and displayed from a single source. 

‍Connecting the puzzle pieces

For many commercial teams, this means all customer details, sales histories, and communication logs are stored in the CRM (short for customer relationship management) system. The entire pipeline, from prospect to closed won (or lost) is displayed here. From inception to resolution. Common ones are Hubspot or Salesforce. For legal teams, the CLM (short for contract lifecycle management) system is usually structured as the repository for all contracts, contract data (perhaps with dashboards), and many now offer functionality to create, negotiate, and sign these contracts. Finance, on the other hand, will work with an ERP (enterprise resource planning) system, like Quickbooks or SAP. So far, it all makes sense. 

A consequence of operating multiple systems is that data lives in siloes and must by some process be unified in all systems. When systems operate independently and in parallel, there is a risk of working with multiple truths. To the extent that any company’s purpose is limited by its ability to pick up signals in the market, isolate noise, and find out what it is she can do to maximise the happiness of her customers, operating from a SSOT is critical. 

If a sales rep manually copies customer information from the CRM to the CLM, there's always a chance for mistakes like key stroke errors, outdated data, or misentered details. This is where copy-pasting becomes problematic: the very nature of copy-pasting creates an unlinked clone. If one system is updated (say, the CRM with a new customer detail or sales info), the copy in the CLM or ERP won’t reflect those changes unless someone manually updates it, leading to outdated or inconsistent data across systems. Over time, this can create a lag or discrepancy between the systems, ultimately leading to inefficiencies, missed opportunities, and frustrated employees.

By integrating CRM and CLM systems, you create a unified platform where information flows seamlessly across both systems in real-time. Once a deal in Hubspot moves to the signing stage, your CLM is immediately aware of the appropriate data fields to populate and update without the need for manual intervention. At Docfield, that’s exactly what we’ve done with our roll-out of the Hubspot integration. If you want to find out more about how Docfield and Hubspot unify truth for legal and sales teams, book a demo today. By bridging these systems, you're not just connecting data; you're connecting people and processes in a way that's foolproof and efficient. Let’s sum up

Benefits of integration

1. Efficiency and speed: Automated workflows replace manual tasks, accelerating contract creation and approvals. This helps close deals faster and reduces administrative burdens.
2. Improved collaboration: With a shared source of truth, communication between sales and legal teams becomes smoother. Everyone is on the same page, which enhances teamwork.
3. Reduced risk: Having accurate, up-to-date information reduces the chances of errors or oversights. It ensures compliance with regulations and internal policies, mitigating potential risks.
4. Enhanced customer experience: Quick access to information means sales reps can respond to customer inquiries promptly. This level of service builds trust and strengthens relationships.
5. Data-driven decisions: A unified system provides valuable insights into customer behavior and contract performance. This data helps in making informed strategic decisions.

Steps to integrate CRM and CLM systems

1. Define your goals: Understand what you want to achieve with the integration. Are you aiming to reduce contract cycle times, improve compliance, or enhance customer satisfaction? Track progress against baseline.
2. Check compatibility: Ensure your CRM and CLM systems can work together, either directly or through connectors and APIs. Compatibility is key to a smooth integration and must be considered by procurement teams in sourcing key systems. Ask your sales rep about integrations and be wary of those that are merely on the product roadmap. 
3. Involve key stakeholders: Bring together representatives from sales, legal, IT, and other relevant departments. Their input is crucial for a successful integration.
4. Focus on data quality: Clean up your data before integration to eliminate duplicates and outdated information. This ensures your single source of truth is accurate.
5. Train your team: Provide training to help everyone understand the new system. Familiarity will encourage adoption and maximize the benefits.
6. Monitor and adjust: After integration, keep an eye on the system's performance. Gather feedback and make necessary adjustments to improve functionality.

Check out our walkthrough video to see the HubSpot-Docfield integration in action! In just a few minutes, we’ll show you how easy it is to connect your HubSpot data with Docfield and automate document creation. You’ll learn how to export deal and company data seamlessly, integrate it into your templates, and generate documents with just a few clicks.

Overcoming challenges

Integrating systems can come with hurdles, but being proactive can help you navigate them:

• Data migration issues: Careful planning and testing can prevent data loss or corruption during migration. Use data mapping to align fields between systems.
• User resistance: Change can be challenging. Communicate the benefits clearly and offer support to ease the transition for your team.
• Technical difficulties: Work with experienced IT professionals or consultants who can address technical issues and ensure a smooth integration.

Wrapping up

Integrating your CRM with your contract management software isn't just a technical upgrade—it's a strategic move that can transform your business operations. By creating a single source of truth for both commercial and legal teams, you're connecting the puzzle pieces in a foolproof way that enhances efficiency, reduces risk, and improves the customer experience.

In a competitive market, having complete and accurate information at your fingertips is a significant advantage. This integration empowers your teams to work smarter, make better decisions, and ultimately drive business growth.

By taking the steps to bridge these critical systems, you're setting your company up for success now and in the future. It's an investment that pays off by unifying your processes and unlocking the full potential of your data.

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