Momentum is key when it comes to Sales and other customer-facing teams. Streamlined processes, enhanced autonomy and holistic commercial visibility all help to drive efficiency, and ultimately facilitate business activity. So, it’s no wonder we’ve seen more and more companies extending Luminance’s AI to their commercial teams. Let’s take a look at exactly how it’s helping them…

Accelerate Deal Cycles

By empowering commercial teams to progress contractual relationships with suppliers, partners and customers themselves, deals can advance faster, unimpeded by legal backlogs or bottlenecks. Luminance’s ‘Self-Serve’ contract generation and review enables non-legal professionals to manage their own contracts, making sure they align with internal standards.

What’s more, for complex legal queries, the Legal Helpdesk provides a centralised platform for legal queries and real-time visibility into the status of requests, avoiding lengthy email chains and unnecessary delays. This streamlined business-wide activity makes sure deals aren’t missed due to lost momentum.

Prevent Revenue Leakage

With immediate oversight and granular insight into an organisation’s entire contractual landscape, commercial teams can capitalise on commercial opportunities and ensure no critical data is overlooked. From Luminance’s intuitive Insights Screen, users can immediately understand all contractual activity and key information, including contract types, parties, payment terms, values, discounts, termination rights, marketing clauses and more.

Beyond that, Luminance’s Automatic Alerts flag important milestones, such as contract breaks, deliverables and termination or renewal dates. This commercial awareness prevents unintentional churns and helps teams to negotiate more strategically, with all the relevant information at their fingertips.

Enhance Accuracy and Speed of Contracting

Contracts define the commercial relationships a business has with its suppliers, partners and customers. So, efficient and consistent contract processes are vital to maximise on these pivotal relationships. Luminance’s integrations with VDRs, DMS’ and CRMs such as Salesforce enforces better quality and consistency of data across the business. Not only does this minimise human error, but the automatic contract creation through these systems reduces the steps and time to signature, ensuring faster contracting cycles for commercial teams.

Ultimately, extending Luminance across commercial teams is helping organisations to improve business-wide efficiency and accelerate time to signature, thus improving the quality and speed of deals cycles.

To find out more about how Luminance could streamline your commercial teams, schedule a demo today.