In the tech world, time is money, and every delay in the sales process can mean lost revenue and opportunities. With the right approach to contract management, you can cut down on bottlenecks and keep deals moving. Here are six essential steps that will help you streamline your contract process, foster stronger client relationships, and ultimately close sales faster.
Kicking things off with your own Non-Disclosure Agreement (NDA) signals that confidentiality is a top priority, and it also gives you control over the terms. By sending your NDA first, you can avoid delays waiting for the client’s version and ensure that the confidentiality terms are ones you’re comfortable with. This small action not only conveys professionalism but also helps to eliminate unnecessary back-and-forth that slows down the process.
Your sales proposal is your chance to showcase the value you bring, don’t cloud it with legal jargon. When you send proposals separately from your Terms & Conditions, you avoid accidentally making your promotional language legally binding. This approach helps maintain a clear distinction between marketing promises and formal commitments, keeping both you and your clients on the same page. This small but crucial step can prevent misunderstandings and protect you from unintended legal obligations.
In tech, services and client needs often evolve over time. A Master Services Agreement (MSA) is ideal for this type of flexibility, as it allows you to include multiple services under one contract. Whether you’re offering professional services, managed services, or third-party licenses, an MSA reduces the administrative workload by bundling everything together. It simplifies renewals and amendments, saves time on new contracts, and sets a strong foundation for ongoing client relationships.
Before signing any client’s terms, taking the time to negotiate key clauses is a must. Legal and commercial perspectives both play a role here. On one hand, reviewing terms ensures you’re compliant and protected; on the other, it keeps you aligned with your business goals. For example, clauses like “Time is of the essence” can have serious legal implications. By balancing legal diligence with commercial viability, you can shape contracts that support your business objectives without exposing you to undue risk.
A Statement of Work (SOW) keeps things structured by defining each individual project under a larger agreement. By separating the SOW from the main contract, you streamline the process, as each project can be approved and implemented without needing to revisit the entire contract. This approach is especially valuable in fast-paced environments where project scopes may change frequently. It adds flexibility, reduces admin work, and lets you adapt quickly to client needs.
Keeping clients for the long term is often more profitable than finding new ones, and renewal reminders play a crucial role in that retention strategy. Setting up reminders for renewals allows your sales team to reach out in advance, sparking conversations about potential upgrades, pricing adjustments, or new services. This proactive approach not only strengthens client relationships but also provides an opportunity to drive additional revenue. Early renewal conversations set clear expectations and avoid last-minute surprises.
Want to dive deeper into these strategies? Check out our ebook, 6 Steps to Contract Optimisation and Faster Sales, to learn more about putting these practices into action and transforming your contract process from start to finish. Download it here.