Aberdeen: contracts are key

Research firm The Aberdeen Group has released a study entitled “Contract Management: The Quote-to-Cash Cycle,” available on CRMToday.com. The study investigates what the Aberdeeners see as “the growing importance of contract management in customer relationship management.”

In “Contract Management,” 189 participants were involved. I won’t spoil the ending for you, but some key figures showed that:

• 41 percent of respondents reported that management of sales and customer contracts is becoming more important in their organization.

• When queried as to how important contract management is in the entire quote-to-cash cycle, over 50 percent said that it is essential, and 31 percent said it is important.

• The study forecasts that the average percentage of a company’s revenue from contracts is expected to increase from 56 percent to 68 percent over the next two years.

Contract Management: The Quote-to-Cash Cycle can be read in full at CRM2day.com.