You have data coming in from your sales teams, even if its too much, too fragmented and stored in disparate locations. CLM system will allow you to manage your data and improve the quality of the data by making it accessible in real-time, connected to a central database, and making it actionable across your company.
Take action on data
A CLM system can help you get the insights you need to take action on your data. For example, which accounts have been neglected? With a CRM system you can set up activities to activate stagnant accounts. Without such insights, your sales teams are left in the dark and opportunities fall through the cracks.
More informed decision making
A CLM systems gather the data that you think is important and that you want to change, enabling you to review that data, and make decisions on it. While it can’t help you make better decisions, it can help you access the data to make more informed decisions. CRM at its most fundamental is a decision-making tool.
Yes, CLM systems can help you grow sales…by better managing your sales teams. The key is that activities tracked in your CLM system need to clearly ladder up to the larger goal of increasing sales. If your sales teams is being tracked to increase prospect calls in order to increase territory coverage, it is possible that your CLM system will contribute to increased sales. But if you are tracking unrelated activities in your CLM– such as training or coaching– you may not influence sales.