How important is contract management?

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Studying the new behaviors of B2B buyers is crucial today. Among the main behaviors, self-learning in the buying journey stands out, which is achieved through research and without the direct influence of a salesperson.

B2B customers are already accustomed to digitalization and expect salespeople and representatives to already know a lot about their business and understand their needs.

Supplier trust also plays a significant role in purchasing decisions, as there are ties between the organizations that do business, and buyers are tasked with preserving their brands' image.

For 67% of purchasing decision-makers, a good negotiation experience is shop a priority, according to a global study by DocuSign.

The COVID-19 pandemic has boosted remote contact, leading more than 70% of buyers to use online methods of interacting with suppliers as their usual practice, according to McKinsey.

Information security is also a growing concern for purchasing decision makers in a cosmetics outsourcing company .

It is important to ensure that data exchange is carried out securely, mitigating vulnerabilities for both parties in accordance with the General Data Protection Law (LGPD).

In short, you need to be aware of changes in B2B buyer behavior to adapt sales strategies and maintain a healthy and effective relationship with customers.

What is contract management?
Contract management involves a set of best practices, techniques and procedures that cover the entire contracting document cycle, from creation to closure.

Also known as Contract Lifecycle Management ( CLM ), this practice has become increasingly important for companies.

It is an essential tool in the search for increased productivity without having to hire more employees.

With the increasing number of contracts in business transactions, it is crucial that they save time instead of consuming it.

However, without automating this process, the time spent on administrative tasks can be significant in an Instrument Calibration Company .