Conga CPQ & CLM Implemented by Forsys for Quote to Cash Process

INSIGHT

The client headquartered in California is a cloud-based software company that provides technological solutions to financial service organizations. The client wanted to automate its Quote-to-Cash process and overcome the challenges of manual creation of quotes and contracts.

Forsys implemented Conga CPQ and CLM solutions to help the software company improve its overall business efficiency, boost win rates, optimize quoting time, and give access to a complete view of the contracting process.

Industry

Software Developer

Revenue

$64 M+

Employees

501-1,000

Headquarters

California, USA

BUSINESS CHALLENGE

The key challenges for the client were:

Manual Quotation process

Manual process for creating and maintaining the contracts

Decentralized Quote-to-Cash process

Manual and Inconsistent Proposal Documents

Longer Deal Cycle

Lack of effective tracking measures

Ineffective monitoring of Contract Renewals and Assets

TRANSFORMATION JOURNEY

The end-to-end solution involved these Conga CPQ deliverables:

Implementation of Conga CPQ to support new and existing customers
Configuration of Product Bundles to support all the Product Lines
Support Recurring and Usage Pricing Models in Quoting process
Support for Add-On, Renewal, and Termination scenarios
Set up of Advanced Approvals & notifications
Management of Conga Standard Templates
Generation of Standard Reports
- Deal Cycle Time Report
- Deal Win Rate Report
- Adoption Report etc.,
Integration of NetSuite for Contracts

Conga CLM deliverables included:

Installation and setup of Conga CLM and eSignature packages
Integration of End-to-End Contracting (Request, Drafting, Negotiations, and Execution) process with CPQ
Configuration of different Agreement Types and Templates – NDA, Master Enterprise Agreement, SOW, Addendum, Amendment, End User Agreement, and so on
Establishment of agreement hierarchical view

Configuration of reporting on Lifecycle metrics, T&Cs reporting (e.g., Commonly negotiated Clauses, high risk contracts, non-std. terms), Reporting & Trends by request source, status, type, and other key deal terms/metadata.
Setting up of automatic email notifications
Migration of Executed Contracts

IMPACT

Forsys successfully implemented Conga CPQ & CLM solutions with the following impact:

Streamlined QTC process

Automation and streamlining of the Quoting process

Delivering accurate quotes for the complex products and services

38% Faster time to turn quotes

30% improvement in win rates

Automation of the Contracting processes

Effective tracking of contract renewals and assets

Mitigation of Risk with Real-time collaboration and tracking

Automation of complex processes involving multiple groups

42% Faster contract processing

360 view of the entire contract lifecycle

ABOUT THE CLIENT

The client, headquartered in Costa Mesa, California, is a leading provider of cloud-based software solutions that transform and streamline the complex operations of financial institutions, including banks, mortgage lenders, consumer reporting agencies, specialty lending providers, and credit unions. The client provides solutions to 1900+ customers including financial institutions on the Forbes 2021 list.