Integrating Slack, CLM, and GenAI for streamlined contract creation

How automated workflows, enhanced collaboration, and intelligent insights drive efficient deal closures

By Christine McHone

Manually drafting contracts is a time-consuming process that significantly hampers the efficiency of the deal cycle, often leading to delays and increased frustration for all parties involved. However, by combining the power of multiple platforms, businesses can streamline contract creation, reduce errors, and accelerate the entire deal-making process, turning a tedious task into a seamless and efficient operation.

Salesforce contract lifecycle management (CLM) and Slack are two powerful platforms that, when combined, offer a streamlined solution for managing contracts and improving collaboration. Additionally, incorporating generative AI (GenAI) to assist in writing and vetting contracts can revolutionize the way businesses handle their contractual processes. In this article, we’ll explore how these integrations work and the potential benefits they bring.

The power of Salesforce CLM

Salesforce CLM is a robust tool designed to manage the entire lifecycle of contracts, from creation to renewal. It offers features such as:

• Automated contract creation: Templates and preapproved clauses ensure consistency and compliance.
• Approval workflows: Streamlined approval processes reduce bottlenecks.
• Centralized repository: All contracts are stored in a single, accessible location.
• Risk management: Early identification of contract-related risks and opportunities for optimization.
• Analytics and reporting: Gain insights into contract performance and compliance.

There are quite a few challenges addressed by CLMs, so let’s talk about the benefits of implementing a CLM system:

• Easy integration: CLM can seamlessly integrate with other business technologies such as CRM, CPQ, and ERP systems. This ensures that all your data is accurate and up-to-date.
• Faster processes: By automating contract management, CLM significantly speeds up contract generation, negotiations, approvals, amendments, and renewals.
• Improved accuracy: CLM helps maintain consistency in terms and clauses, which reduces legal risks. It also provides accurate reporting and analytics for better decision-making.

These benefits not only streamline our processes and enhance the overall efficiency and effectiveness of contract management but can also be exponentially amplified by integrating CLM processes into Slack.

The collaboration powerhouse: Slack

Slack is a leading collaboration and productivity platform that significantly enhances communication and teamwork within organizations. Its features are designed to streamline workflows, improve productivity, and foster a more connected and efficient working environment. Here are some key features and benefits:

• Channels: Organized internal or external spaces for team discussions that help reduce email clutter and keep conversations focused. Channels can be created for specific projects, teams, or topics, allowing for better organization and easier information retrieval.
• Direct messaging: Facilitates quick, direct communication between team members, enabling swift decision-making and problem-solving. Whether you need a one-on-one conversation or a small group chat, direct messaging keeps communication seamless and efficient.
• Integration with other tools: Slack connects seamlessly with a wide range of apps and services, including e-signature tools like Docusign, Adobe Acrobat Sign, and Box, enabling teams to access and share information without switching between different platforms. This integration supports a more unified workflow, ensuring that critical data and tools are always at your fingertips.
• File sharing and collaboration: Slack makes it easy to share and collaborate on documents and files. Team members can share file links directly into channels or direct messages, comment on them, and collaborate in real time, making sure updates remain evergreen.
• Search functionality: Powerful search capabilities allow users to quickly find past conversations, files, and information, reducing time spent looking for critical data and enhancing overall productivity.
• Notifications and alerts: Customizable notifications keep you informed of important messages and updates without overwhelming you. Real-time alerts for mentions, direct messages, and specific keywords keep you in the loop.
• Automation and Workflow Builder: Slack’s automation features and Workflow Builder allow teams to automate routine tasks, streamline processes, and reduce manual work. From setting reminders to integrating complex workflows, these tools help optimize efficiency.

Combining Salesforce CLM with Slack

Integrating Salesforce CLM with Slack can create a unified and efficient workflow for managing contracts. Here’s how:

• Real-time notifications: Salesforce notifications in Slack — Receive real-time updates on contract statuses, approvals, and deadlines directly in Slack channels. This ensures that all relevant stakeholders are promptly informed and can take necessary actions without delay.
• Collaborative contract review: Slack channels for contract discussions — Create dedicated channels for contract negotiations and discussions. Team members can collaborate, share feedback, and resolve issues quickly, all within Slack.
• Streamlined approval processes: Approval workflows via Slack — Approvers can receive notifications and approve contracts directly from Slack, speeding up the approval process and reducing bottlenecks.
• Centralized communication: Unified communication platform — Centralize all contract-related communications in Slack. This reduces the chances of miscommunication and ensures that all stakeholders have access to the latest information.

Overlaying GenAI in contract writing

GenAI can significantly enhance the contract-writing process by automating and improving the drafting of contract documents. In our latest solution, we demonstrate the power of integrating CLM with Slack to streamline contract creation, with GenAI supporting the review process. Here’s how GenAI can be further utilized:

• Automated contract drafting: GenAI can create contract templates based on best practices and specific business requirements that are shared in CLM.
• Language optimization: GenAI can analyze the language used in contracts and suggest improvements to ensure clarity, reduce ambiguities, and enhance legal compliance.
• Risk identification: GenAI can identify potential risks in contract language and suggest revisions to mitigate those risks. This helps in creating robust and enforceable contracts.
• Continuous learning: GenAI learns from past contracts and continuously improves its drafting capabilities. It can also provide insights based on historical data to inform future contract strategies.

Improving the contract creation process without Salesforce CLM

Even without Salesforce’s CLM offering, organizations using Sales Cloud can implement various automation improvements for contract creation and approval processes. Here are some ways to increase your contract management productivity:

• Use Salesforce Flow to automate notifications in Slack when a sales opportunity moves to a stage needing a contract to be drafted. This flow can also include a screen flow asking if there is an existing contract draft or if one needs to be created.
• For automated contract generation, there are a number of third-party tools with AI capabilities, such as Box and Docusign, that can use information in the opportunity record (and even a Slack channel) to extract information which can be populated into a contract template. Slalom has also implemented custom AI-driven solutions using Salesforce Einstein 1 to build this type of content automation.
• When a contract is ready to share with the other party (customer, partner, etc.), Slack Connect is a great way for both sides to collaborate in finalizing the contract details.

Bringing it all together

Combining Salesforce CLM with Slack creates a powerful synergy that enhances contract management and collaboration within organizations. The addition of generative AI to assist in creating templates or reviewing contracts further streamlines the process, reduces errors, and improves the overall quality of contractual documents. By leveraging these technologies, businesses can achieve greater efficiency, compliance, and agility in their contract management processes.

As the business landscape continues to evolve, the integration of advanced tools and technologies will be crucial in maintaining a competitive edge. Embracing the combination of Salesforce CLM, Slack, and GenAI is a step toward a more innovative and efficient future in contract management.

Slalom is a next-generation professional services company creating value at the intersection of business, technology, and humanity. Learn more and reach out today.