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from here I'd like to introduce our speakers P Castro our product manager here at Conga Christina Anderson product marketing at Salesforce and Peter Holdman from product at Adobe so I'm going to pass over to Christina and kick this off and she'll share the first step in the Contracting process thanks so much Lizzy no problem okay so with Salesforce cdq what we're really focused on is automating that last part of the sales cycle configuring products pricing out those products and then sending out a quote or proposal now why is that automation so important well for organizations that haven't automated this last process nearly 70 percent of deals fall apart in this stage and this is for a couple of reasons first the sales rep just isn't able to move fast enough the customer may want a proposal by the end of the day and without automation the sales rep just can't pull it together in time and then second close can be wildly inaccurate between 50 through hundreds of products maybe even digging around in Excel and then the issue with skew proliferation it makes it too difficult for reps to find the right product and pricing information which makes it really hard to put together an accurate quote and then finally there's just too much for sales reps to do you take these issues and you compound them across tens hundreds or even thousands of deals every quarter and you have a real problem on your hand and this issue is what we're calling the quoted cash Gap so what we're seeing is sales people languishing in this code to cash Gap lengthening the sales process making it hard to manage proposals and contracts but we have to be really mindful that it's not just sales that's suffering when it comes time to deliver services and recognize Revenue the information that regenerate or don't generate in the sales cycle affects the finance department as well so when we're interact inaccurate with sales data Finance ends up being the one who has to go in and clean up the mess and this really becomes an issue when having to adhere to rules and regulations like the upcoming ASC 606 which governs how Finance reports on Revenue it's an issue for other departments as well as Finance for example support needs to know what the customer is entitled to based on their contracts such as warranties and if they don't know this information it can be a big problem so really this quote to cash Gap is a much bigger issue across all parts of the business than people really think about thankfully Salesforce provides the only platform that fully closes this Gap end to end we help you find the right product for your customers control pricing and discounting generate accurate proposals and then get into that Dynamic process of Contracting contract management and help you protect margins which ultimately helps you grow your business with Salesforce you can really kick off the contract and negotiate negotiation stage on the right foot and this is what gets us really excited cpq touches on such an integral part of the sales cycle that it's hard to create one product that covers on all of your needs we recognize that to give the most value to our customers we have to open up our platform to our partners like Conga and Adobe to offer critical aspects like contract redlining signing and ultimately contract management and here's the best part about that you can do all of this from lead to cash without leaving the sales cloud and when you think about it the benefit really comes when your reps and sales rep users adopt the tools that you give them and when you give them a single platform with a great user experience like what we have on Lightning it's almost like magic and that's really where you start to see the benefits of quote to cash such as improving close to order conversion reducing approval times finding a faster way to generate quotes and proposals and reducing errors all of this helps you close deal faster one of our customers Mitsubishi Electric used to take up to two weeks to create a single quote they cut that time down with Salesforce to be cute to just two hours that time saving really helps the rep stop wasting time and close more fields and now I'm going to pass it off to Pete from Conga to talk a little bit more about the contract process all right thanks Christina so my name is Pete Castro I'm the product manager at conga I've been with the company for about five years and I'm currently responsible for our latest product Conga contracts which is where Conga helps Salesforce close that lead to cash Gap so do any of these quotes sound familiar to anyone in our audience these help illustrate the problems that sales teams face with regard to their Contracting process the sales rep negotiations slow me down I could close more deals if I were allowed to make these changes the sales ops manager I can't trust my reps to go update their data in Salesforce once they've moved on to the next the next opportunity things like these or I'm sorry things like the renewal pipeline may be inaccurate and could lead to us sending the customer a wrong contract or missing a renewal entirely these are some of the problems that we seek to solve with our set of products that you're going to be seeing later on in this presentation so here are some statistics to help describe the nature of business to business sales and how Contracting fits into the process although the contract process is necessary it can cause delays in the sales cycle which can cause frustration amongst the team so a quick story for everyone to sort of get you in the right mindset so on the right we have headering Henry is a sales force user and he's authorized to create sales contracts using Salesforce cpq he's currently working on a deal with Howard a new potential client though Howard is a tough negotiator and this could take several rounds to get all the legal terms in our contract to where both parties are happy contract may go back and forth many times but once we finally are in an agreed-upon State we want to do a couple things we want to make Salesforce is up to date with all the accurate information that we agreed to at the end of the negotiation we want to create a document that reflects all of those terms and we want to get it over to Howard as fast as possible to get it signed but I want to draw your focus to some of the uh the questions in Tiffany's mind over on the left and her concerns as a company stakeholder and a power and Henry's manager these are important questions to answer and when the answers are readily available deals will move faster and more efficiently which will in turn lead to better Revenue there are numerous benefits for implementing a contract management solution in your organization users can follow contract negotiations every step of the way people that typically weren't involved in these processes and it was sort of the negotiation step was typically a black hole to them they can view the terms and conditions that are being negotiated why providing an opportunity for the sales rep to step in and accelerate a deal to close through that negotiation phase data is kept in sync with Salesforce so that the contract terms are always accurate and up to date throughout the whole negotiation and especially at the end this will have positive effects on all the downstream activities related to the customer Journey such as accurate billing and fulfillment documents persist in a digital shared repository so that anyone in the company can quickly find and understand the nature of a contract with one of your customers and the ultimate benefit is that gaining insights from all these processes and all this data we can optimize our business by identifying bottlenecks in the process understanding the frequency of change forecasting Pipeline and potentially many more areas for improvement rolling out a contract management solution can be a daunting task some of you may have gone through this some of you may be going through it right now and I can assure you that there are a lot of different company leaders from a variety of different departments in your organization that will want to have a say in how this works because Contracting inevitably has some sort of effect on everyone but remember although the change can be hard the change is good larger renewals improved delivery time faster contract cycles and faster negotiations all helping speed up that lead to cash process so I've been talking a lot about the theoretical benefits of an improved process to your your business can enjoy by implementing a contract management system but you don't need to take my word for it uh the here's some proof from a real life customer one of our very first that decided to automate their contract creation process internal Drafting and ultimately using electronic signature and they've seen immediate Time Savings and improved efficiency so uh real quick by a little background the state of Utah implemented a program to provide tax credits to businesses that were willing to move their operations to the state and the governor's office of Economic Development a sales force customer was using Salesforce to accept these Grant applications from companies moving to Utah through a web portal or Salesforce community all this data would come into their Salesforce org and then from there it would go into this lengthy manual process or contracts administrator would have to sort of transpose all this data to an Excel file where he would use old-fashioned mail merge processes draft a boilerplate template you would email it to internally legal people who would then send it around for amendments and some tweaks and changes uh all approvals to standard legal language needed to route back through the contract administrator he needed to manually keep track of versions uh merging documents and then updating all of this information back into Salesforce so that he can send the applicant the ultimate Grant contract that they were willing to to give that person and then about a year ago this administrator saw a demo of Conga contracts and we've since then implemented the application and they have seen and been reaping amazing benefits from using it when the grant applications come into the web portal they are automatically stored in Salesforce as a new contract our workflow Solutions are automatically creating these boilerplate template documents and sending them off for negotiation to the internal stakeholders automatically without any intervention the contracts tool lets the the internal drafting parties routed around adding changes and automatically versioning the document within Salesforce and then once it's all ready to go they're using electronic signature to send it back to the applicant and get the grant the grant contract signed so if you're interested in hearing some more details and reading the full story about our customers over at the state of Utah this case study is published on our website so now I'd like to turn things over to my friend from Adobe Peter Holdman to tell us more about that last step in the deal cycle which is getting our contract signed excellent thank you Pete hi everyone hi I'm Peter Alderman from the Adobe design team and I want to talk a little bit about this final step in the contract process which is you know confirming agreement through signatures this isn't necessarily the easy part you know a lot can go wrong here and because these Agreements are the building blocks of any business sales deals or hiring new employees maybe create new Partnerships you know organizations are very careful about making changes to their processes and that's understandable however that's not without costs a traditional signature cycle employs a mix of paper faxing scanning overnight mail and enter office mail so I'm sure everyone is familiar with and that process adds time and risk and think about it not a whole lot of value Cycles here are typically measured in days and weeks and that's after you've reached an agreement the impact on your business is not only the long uncertainty you experience while waiting for the signatures to all come back to you but it delays Revenue recognition it delays getting your customers up and running and for many organizations this slow and inefficient process is affecting their success rates there isn't much good that happens in a lengthy signature cycle in addition you know manual processes introduce all kinds of possibilities for error and it forces your Frontline reps to be administrators manually filling out contracts following up on contracts up for signature when their time might be better spent actually selling and a paper process is really hard to track we all know about those deals that had to be closed by a certain deadline but who's got it where is it well this is all avoidable a recent study by smart selling tools shows that those who use these signatures consider it a top sales tool actually number one for perceived benefits number one and non-users by the way ranked it much much lower there's a huge leap in perception from non-users to users and what drives that well I've got eight hints for you here on the screen from our own research we know that organizations are often greatly surprised at how quickly e-signatures are adopted by their teams and how it drives benefits across their organizations and with their clients yes e-signatures can remove 90 to 95 percent even more of the signature cycle time and that's significant but when you read the quotes and the success stories we have with Salesforce customers and with Conga customers it's as much about the improved accuracy you know the ability to sign anywhere the adoption by their sales teams the quick Roi the transparency and the control as it is about the speed and it's an experience that organizations can offer to their employees and clients that they can be proud of Adobe is committed to changing the world through digital experiences and this absolutely extends to the signing experience with our partners Salesforce and conga it doesn't take much to start experiencing these benefits for yourself it starts with the setup process which doesn't require a programmer to get up and running it's menu-based setup so even for more complex workflows it's very easy your teams can manage everything right from within Salesforce so they don't need to switch to apps everything is presented to them in Salesforce whether they're using lightning or classic if your sales teams use salesforce1 mobile they can send agreements for Signature from their mobile device you can also have agreements signed in person if you're right there with the client and they're ready to sign and your clients don't need anything more than an email address and a browser they don't need to be our customer a Salesforce customer a Conga customer they just need an email address and a browser and a willingness to be your customer now that document you sent out for Signature may have had a lot of content added to it by Salesforce cpq or Conga pulled directly from Salesforce or from libraries this makes sure that you have data integrity and it's one of the reasons that finance and legal teams end up being some of the biggest champions of you signatures within organizations and what's really cool about Adobe sign is that you can customize this entire experience for your clients you can bring your brand forward throughout the signing process so the email that they see the post signing experience that they have Adobe sign doesn't try to make our own business with your customers you know it's your business it's your customers everybody knows who Groupon is they process thousands of contracts a month and they found that the whole process was incredibly seamless and also incredibly fast it's so fast so fast that they were getting these signatures well they're still on the phone with their clients now it's hard to imagine a process more efficient than that so Groupon loves the speed they also love what it does for their reps gives them more time to nurture relationships with clients rather than chasing down contracts for signature they also love the audit Trail which is a big requirement for them and they love the convenience that the experience offers to their clients and by the way with that great new efficiency they've been able to grow the volume of their contracts significantly by more than 10 percent now there are other examples too Diners Club UK took a signing process that averaged several days to one that is 17.3 minutes on average in 17.3 minutes imagine being able to measure your signature cycle time in minutes and what would that do for your business another customer in Australia Daniel's Health said that they were getting a hundred percent of their contracts back in the same day by using Adobe sign I said we can't put that in the story no one's going to believe it the hundred percent made a huge difference for their business and they say it helped Drive the adoption of Salesforce with their reps that they wanted Tebow said they were able to reduce their paper usage associated with contracts by 99 percent which also allowed them to reduce the number of filing cabinets they had to keep around and their legal department especially loves the difference that adobe sign has made calling it one of the most value-added products they've ever seen and we have more stories on our website and also you can find quotes on the app exchange as well so you know when you get to the end of the contract process and you've shown them the right configurations the right prices the right quotes and you've negotiated the terms and conditions oops didn't want to do that you show them the right terms and conditions and you're ready to seal the deal don't abandon the power of digital transformation right at where it's all led up to with Adobe sign added to your cpq and contract management process you'll see the benefits of getting to revenue faster improving success rates reducing your legal risks while improving compliance getting the visibility you need into the contract process all the way through the signature cycle and along the way improving the experiences of everyone involved so at this point I'd like to pass it back over to Pete and he will take us through a demo of have all these Solutions work together and there you go Pete all right thank you so now the fun part the demo so if we put you to sleep with all of our slides here comes the exciting part so this demonstration is going to take place on the cpq quote object so this is a quote that's pretty much configured and approved already uh you can see it's in an approved status if I take a look at the related details I've added my product bundle and it's all configured and ready to go however back to that story I was telling earlier our client Howard wants to negotiate the terms of the contract so I'm going to generate a quote and contract document in the form of a Word document to send it over to him for negotiation a few things I would like to draw your attention to before we get started you kind of keep an eye on these as we go along our Custom Contract activity component this is a function of Conga contracts over here and this sort of brings together all of the activity related to this negotiation process so emails going back and forth as well as documents versioning and then a couple of the pre-configured items on my quote down here that I would like to highlight are the pavement terms our standard terms of pay us in 15 days and that we will ship the product to you so now I'm going to go ahead and click the generate document button this is the Salesforce cpq document engine I'm going to select a Word document because we're going to negotiate this and for now I'm just going to click save to save it to Salesforce and then send it off for negotiation using Conga contracts so that you you can see over here I've uploaded my first version and then clicking the center for negotiation button uh pretty simple brings me to an email screen where I could find Howard I can select an email template I can add an additional message if I want to it's got my document attached and I'll go ahead and click Send and this is a function of Conga contracts this is sending the document off for negotiation and the way the negotiation piece of our product works is that it's all happening within word and email a typical workflow of how contract negotiators like to work uh more often times than not we found people aren't really interested in signing into your negotiation portal setting up credentials for your application sort of having to manipulate the document in an unknown with an unknown tool people have been working in Microsoft Word for years and years and that's what they like to do so that's how we've built the product so now you'll see our quote document email was sent out so now sort of switching personas to Howard I'm going ahead and open up my email and I see that I've got this email here with my attached document for negotiation so okay Bobby has sent me the quote with the terms let's open this up and make some changes so go ahead and save this to my desktop I'll just call this version two for now and here we go so now any of the Native features of Microsoft Word or at our disposal we can leave comments we can turn on track changes and for this for the sake of this demo I'll probably go about it in the most uh sneaky way possible and just start modifying the document send it back and see what he can catch and what I can slip by so I would rather download than the application net 15 I'm going to push for net 90 days payment and then scrolling down let's see the products look good that's what we agreed to do and then we have our terms and conditions so maybe here in the terms and conditions I'll try to sneak in some changes right here um to their standard legal language maybe I'll delete this word governs here and save it and send it back so I'm going to reply to this message with my modified version 2 . and now when that email goes across every email that goes across it can go back and forth many many times Conga contracts is going to keep eyes on that email thread and do a couple things in Salesforce every time we see a message and a document go across the wire so I'll go ahead and give that a second and refresh Salesforce here so now you see in our contract activity component that a reply was sent and a new document version was uploaded so we're using the native Salesforce files repository to create a master file and then with every turn in the negotiation upload a new version to that file so now as as Bobby the sales rep working in Salesforce I see that a response from Howard has come back I can use Salesforce process Builder workflow approval rules to trigger any sort of event based on these updates coming back into the system uh but now as Bobby I say oh great power replied let me use the view red lines function to see what he's changed within our standard quote and contract so I can see okay he'd rather download net90 payment terms and then scrolling down to the terms and conditions I can see he's added something and deleted something so one of the benefits of the view Redline screen is that we have this version selector up here so I can compare any number of versions the first and the last two and four three and five however many times it goes back and forth and now Let's uh for the sake of time say I'm authorized to approve all these changes and I just want to get this deal signed as quickly as possible so the first thing I'm going to do is from this screen here use the contracts true up functionality to update all of my data in Salesforce so over here on the left we're going to expose all of the data in the document that does not match the data we currently add in Salesforce so it's asking me to create a quote term revision here with the changes that were added so I'm going to go ahead and accept those revisions and save that new quote term to Salesforce it's also going to show me that within the document they've proposed a new delivery method and new payment terms so I'm going to also save those field changes to Salesforce as well so after we've reconciled all of those cards we can see that all the data in the final agreed upon version of this document matches all the data in Salesforce so if I come over here and look at the related items you can see that we've created a quote term and if I open up this quote term you can see this is tied to our quote and includes the custom language we drafted for this customer so that any future quotes with Howard will have these pre-negotiated terms in them and we won't have to Circle back this helps with things such as renewals future deals selling other products and services etc those those pre-negotiated quote terms will now propagate all the way through throughout this customer's life cycle with us uh coming down here I'll also see that we've updated these fields on our quote record for payment terms and delivery method and keep in mind any number of fields can be updated not only on the quote but related records and Salesforce such as the account or The Conch the contact for uh billing address things of that nature so now that Salesforce is up to date we've agreed with Howard on the terms really the last step in the process here is to get him to sign the deal so I'm going to click generate document one more time this time I'm going to leave it as a PDF and this time I'm going to use the send to Adobe sign button so what this is going to do is recompile a fresh PDF with all of our new terms and send it over to Howard to be signed so now One Last Time switching back over to the role of Howard coming to my inbox I see that here is my quote for Signature so now pretty simple for Howard all he has to do is open up his email he sees he has his quote from Bobby and he clicks this link and now we're in the Adobe signing experience you can see that this is our updated data with the download and the 90 days payment as well as the our modified terms and conditions everything looks good I'll jump down to the signature block apply my signature sign it and we're done and in only a matter of seconds from receiving that email the deal has been executed closed and we have a new customer so let me flip back to our presentation here and I will pass it back to our MC Lizzy for any for any wrap up and questions that may be out there thank you Pete um so yeah as you guys have heard we are Conga contract Salesforce and Adobe sign we're really automating that last mile of the sales cycle Salesforce cpq allowing you to generate your quote generate your contract and then from there Conga contracts allow you to negotiate those contracts and then finally sign with Adobe sign so we do have a few questions here um so I I'm gonna kick it back over to Salesforce um we actually have quite a few questions on the configurability of the quote and so Christina if you could explain a little bit more I know we're starting from an approved quote but we've had quite a few questions on that um so it'd be great sure so um the ability to configure a quote is really important um when you are in Salesforce cpq um you can take a look at all of the different products available and If there you have a really big library of products we even have a guided selling tool that will help you dig down to what you need once you've figured out what exactly you want you can go in and we have rules that will allow you to say have required items that go together like a bundle or say if you buy a certain product you need training to go along with it we have rules that will make sure that those things are sold together um we also have rules that will allow you to go in and make changes to quantities and uh and save it all together sorry I know that's a really General answer but if you want to visit salesforce.com and visit the quote to cash section where we have a little demo that will just demonstrate just product configuration perfect thank you um so Pete we actually did have quite a few questions on Conga contracts so I'll I'll do a few at a time um so one of the major things that's come up here is um what happens if a contract is forward to someone not in Salesforce likewise if it was a distribution list is that something Conga contracts can control or how does that process work yeah so that email can be sent to anyone a Salesforce user not a Salesforce user a distribution group that's perfectly fine and then whatever reply comes back to that message from whomever we're going to log that activity and email message in Salesforce and take the attachment and version it in the repository perfect and on that attachment actually that was a quite a few questions came in around that as well what if user sends back another version where it's not maybe a doc it's a docx or a PDF like how does that work well we will attach it into Salesforce um if it's a PDF it kind of puts the skids on the negotiation if you had if you were then going to make some counter proposals okay um there's really no discrepancy between Doc and docx that's totally fine um was there another part to that question or is that yep nope that was that that part um so I will come back to you there are quite a few on Conga contracts but we are we did get a few on the Adobe side as well um I guess the the major consensus here is how how the integration works like if you've already got Adobe or you've already got cbq what's the process here um and I assume that's a few different people but um in regards to the integration how easy is it how they go about getting multiple of the products right yes so we have Adobe sign does have Integrations um separately with Salesforce with Salesforce cpq and also with Conga so those Integrations are available they can be purchased you know through any of those organizations so um yeah it's if you've if you've got one and want the connection to the other that's absolutely possible perfect um and Pete this one goes back to you so if a customer is on this and they're currently using Conga composer what's what's the difference in using um composer and the contracts here I forgot to mention that yes totally obviously very much compatible with Conga composer so we support both document engines Congo composer and the Salesforce cpq gen engine so either one will work if you already have one you can stick with that if you're interested in the other you can add in the other all very easily integratable 100 edible perfect um and I guess this one is back to Salesforce so it looks like there's a few questions on how code intensive this is but we know that it's really already out of the box so if you were able to talk a little bit to that if there was any code needed for setup for cpq so we partner with a number of implementation companies so uh they can set it all up for you you do not need to know coding to do so and um if you have a simpler product you you can self Implement as well and there's not uh there's a little bit of coding there but not too much okay perfect another question uh Pete and salesforest um do we support template creation and collaboration from templates what kind of templates not really sure what you mean I think they're talking to contract templates specifically um but if we need a little more information we'll make sure that we get with them afterwards I mean you could certainly like if you have a Word document that you just nothing is dynamic about it it never changes that would totally be supported and then for creating Dynamic documents you would either want a cpq or composer if that I don't know if that helps but yeah and in cpq you can use HTML to it that is dynamic yeah okay um and this one goes back to Adobe with Conga contracts how easy is it to manage the conga and Adobe control consoles to measure the use of the applications to basically tracking cycle times and things like that how does the cycle times work I'm actually going to pass that over to Pete um sure I think yeah so with regard to all the stuff you saw in the demo so we're logging a lot of data every step of the way so with every turn in the negotiation we're logging data within the document or logging data so all of those cycle times can be surfaced through analytical tools like Salesforce reports Salesforce wave or something even like Conga action grid um so throughout the process there's being a lot of data laid down so that at the end you can create reports to analyze things like cycle times and frequency of terms changing uh how long did it take between when I sent it out for Signature and when it came back as signed things like that okay yeah Adobe assigned has those dashboards as well which goes to that point I shared earlier about uh Groupon being able to see in that Groupon but um Diners Club UK where they were seeing 17.3 minutes and you can definitely see that signature cycle time in Adobe sign dashboards perfect um so this one is going back to Christina um is Salesforce cpq out of the box I oh wait nope never mind I already asked that one sorry about that um Pete when are the differentiators to use composer versus cpq to generate the document um I guess it just depends on your document requirements um I'm not too familiar with what cpq Canon cannot do um but yeah I guess we would just need to know the the full requirements of your document and then we can make a recommendation from there all right guys I'm looking through I think we got most of the questions answered this one also goes back to the conga composer a little bit can cpq generate documents with tables um like Conga composer can I think that might be a Christina question uh yeah I believe we can we can't perfect all right guys well I'm Gonna Leave the Q a portion open just for a little while longer it looks like most of the questions here have answered if we did not get to you don't worry we'll make sure to export the question log and and get to you individually so if you have any questions and we and we did miss you we'll make sure to get to you afterwards so thank you to our speakers thank you Christina Peter and Pete for joining us today we greatly appreciate you walking us through the end-to-end contract management experience and automating the last mile of the sales cycle um if you guys again have any questions feel free to email the webinar and or the webinar email address that's in your email we will also be sharing the recording after this is over have a great day everyone thank you