{"id":75461,"date":"2020-01-30T18:58:32","date_gmt":"2020-01-30T13:28:32","guid":{"rendered":"https:\/\/simpledocs.wpengine.com\/?p=75461"},"modified":"2022-11-18T18:27:26","modified_gmt":"2022-11-18T12:57:26","slug":"know-about-system-of-agreements","status":"publish","type":"post","link":"https:\/\/www.revv.so\/blog\/sales\/know-about-system-of-agreements\/","title":{"rendered":"Things to Know about System of Agreements"},"content":{"rendered":"\n<p>As Gartner says \u2018No organization is immune from the complexities of modern contracts, or a fast pace business in the global economy.\u2019 The past couple of decades have been all about the digitalization of various business functions. Companies have invested trillions of dollars to modernize their System of Records (SofR),&nbsp; System of Engagement (SofE) and System of Intelligence (SofI) and nurturing these systems resulted in the digital transformation that changed the way businesses function.<\/p>\n\n\n\n<p>Geoffrey Moore, management consultant and author of \u2018Crossing the Chasm\u2019, in his session at <a href=\"https:\/\/success.salesforce.com\/sessions?eventId=a1Q3A000021ea1UUAQ#\/sessions\" target=\"_blank\" rel=\"noreferrer noopener\" label=\"Dreamforce\u201919 (opens in a new tab)\" class=\"broken_link\">Dreamforce\u201919<\/a> talks about the significance of these online enhancements and highlights the missing piece from the puzzle &#8211; \u2018The System of Agreements\u2019 ( SofA). Many B2C businesses &#8211; the first movers like Uber, Amazon, Airbnb, Expedia, Open Table &#8211; have made the best use of this online development by implementing an \u2018asset-light\u2019 business model. It cannot be adopted by various B2B and large scale enterprises due to the difference in end-user behavior. What Moore means is that there are three different types of users i.e., consumers, customers, and clients. All these three users seem identical but each of them plays a different role in the market.&nbsp;<\/p>\n\n\n\n<ul><li>Consumer &#8211; It is an individual that makes the purchasing decision with his own money.<\/li><li>Customer &#8211; Customer makes a considerate purchase after reviews and evaluation of various purchasing processes and probably buying a product with some attached service.&nbsp;<\/li><li>Client &#8211; A client can only buy a service.&nbsp;<\/li><\/ul>\n\n\n\n<p>It is the best time to be a consumer in the present phase of digital enhancement. But the customers and clients are difficult to manage even though the product or the service availed by them is flawless. The economic transactions, especially with customers, have to be significantly tailored and negotiated and the impact of such complexities breaks the connection between the System of Record and System of Engagement. This is where the missing puzzle piece &#8211; System of Agreement fits perfectly!&nbsp;<\/p>\n\n\n\n<h3><strong>What does the System of Agreement (SofA) help with?<\/strong><\/h3>\n\n\n\n<p>SofR and SofE have proven to be successful in the past but a digital gap still exists due to the lack of intelligence and opportunity to improve. The complexities break the connection between SofR &#8211; where you store and process all the information &#8211; and SofE &#8211; where you interact, negotiate and discuss agreement terms with the customer or client.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" width=\"640\" height=\"634\" src=\"https:\/\/www.revv.so\/blog\/sales\/wp-content\/uploads\/2020\/02\/System-of-Agreement.gif\" alt=\"RevvSales - How the modern system of agreements work?\" class=\"wp-image-75486\"\/><\/figure>\n\n\n\n<p>What gets in the way are several legal and business agreements, that causes friction as they can\u2019t be transactionalized. It requires expertise and time to read, analyze, and redline complex terms and conditions for negotiation. The current system in place for dealing with this issue is cumbersome and results in losing potential customers at the engagement stage and it sucks! And this is why Moore stresses the need for SofA.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><em>\u201cOver the years, companies have invested billions of dollars to digitally transform their Systems of Record and to create automated Systems of Engagement. But neither of those established platforms handles the complexities and legalities of agreement processes natively or easily. I believe that the System of Agreement platforms will fill this gap. It&#8217;s a new and long-overdue category.\u201d<\/em><\/p><p><em>&nbsp;&#8211; Geoffrey Moore (The Rise of Modern Systems of Agreement)<\/em><\/p><\/blockquote>\n\n\n\n<p>SofA aims at automating the agreement process which is the core of doing business. <a href=\"https:\/\/www.revv.so\/blog\/sales\/all-about-agreements\/\" target=\"_blank\" rel=\"noreferrer noopener\">Agreements <\/a>are prevalent in any business and those who modernize now can reap substantial cost reductions and customer experience with a competitive advantage over slow movers. Digital transformation takes into account the lifecycle of an agreement &#8211;&nbsp;<\/p>\n\n\n\n<p>i) Prepare, ii) Sign, iii) Act, and iv) Manage and helps businesses cherish the use of modernized systems &#8211;&nbsp;<\/p>\n\n\n\n<ul><li>Your agreements are API-ed directly into SofR following activation and provision enabling it to move forward in the <a href=\"https:\/\/www.revv.so\/blog\/contract-management-software-an-ultimate-guide\/\" target=\"_blank\" rel=\"noreferrer noopener\">contract management<\/a> process.<\/li><\/ul>\n\n\n\n<ul><li>Digital representation allows businesses to run analytics for agreements in real-time and weed out the unwanted clauses to highlight negotiable terms.&nbsp;<\/li><\/ul>\n\n\n\n<ul><li>It lets businesses enjoy the core benefit of the SofA.<\/li><\/ul>\n\n\n\n<p>Every business has a SofA but most are yet to be modernized. Now is the time to act upon it and not wait for your customer to comment that it\u2019s hard doing business with you. Gone are the old days when the product was king. It the era of consumers, customers and clients. B2C market had early adopters who grabbed the opportunity at the right time and became market leaders with modernized systems. Now is the time for the B2B market to shine and work its way out of manual dependency and aim towards digitalized systems in the process flow and optimize the overall business processes.&nbsp;<\/p>\n\n\n\n<h3><strong>Looking through the \u2018Digital\u2019 Glass!<\/strong><\/h3>\n\n\n\n<p>In my view, agreements are complex legal and <a href=\"https:\/\/www.revv.so\/blog\/sales\/how-to-automate-business-documents-with-revv\/\" target=\"_blank\" rel=\"noreferrer noopener\">business documents<\/a> that companies come across on a daily basis. Moore\u2019s emphasis on SofA and its adoption by companies is the need of the hour. SofA is the future of agreements. Delayed turnaround time due to complexities in terms and conditions results in multiple discussions and negotiations and eventually companies losing out on big deals. But SofA enables the collection and automation of different parts that rely on manual processes and makes the automation work as a whole. I feel it\u2019s time that B2B and large-scale companies leverage this system and make the most out of it.<\/p>\n\n\n\n<p>Are you looking for <a href=\"https:\/\/www.revv.so\/contract-management-software.html?utm_source=revv_blog&amp;utm_medium=blog&amp;utm_campaign=Things+to+Know+about+System+of+Agreements\" target=\"_blank\" rel=\"noreferrer noopener\">contract management<\/a> that accommodates the System of agreements? Try out Revvsales. Click <a href=\"https:\/\/www.revv.so\/signmeupnow.html?utm_source=revv_blog&amp;utm_medium=blog&amp;utm_campaign=Things+to+Know+about+System+of+Agreements\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a> to book a demo with us!\u00a0<\/p>\n\n\n\n<p>Here is the video of Geoffery Moore\u2019s session on &#8211; The Rise of Modern System of Agreements!&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/youtu.be\/bYu5luHYsSQ\n<\/div><\/figure>\n\n\n\t\t<div data-elementor-type=\"page\" data-elementor-id=\"76820\" class=\"elementor elementor-76820\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-35c1d5ed elementor-section-content-top elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"35c1d5ed\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-28fc408a\" data-id=\"28fc408a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b802fb4 elementor-hidden-phone elementor-widget elementor-widget-image\" data-id=\"7b802fb4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img src=\"https:\/\/www.revv.so\/blog\/sales\/wp-content\/uploads\/elementor\/thumbs\/Bulb-p18t1zs8e6znjg4hr79z11zuzdlsxj0u2me1zfz1bq.png\" title=\"Bulb.png\" alt=\"Bulb.png\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-1dfe5254\" data-id=\"1dfe5254\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6ca623e elementor-widget elementor-widget-text-editor\" data-id=\"6ca623e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Want to take the hard work out of drafting agreements? Try <a style=\"color: #ff0078;\" href=\"https:\/\/www.revv.so\/templates\/agreements\" target=\"_blank\" rel=\"noopener\">Revv\u2019s agreement templates<\/a><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\n","protected":false},"excerpt":{"rendered":"<p>As Gartner says \u2018No organization is immune from the complexities of modern contracts, or a fast pace business in the global economy.\u2019 Read here to know more.<\/p>\n","protected":false},"author":9,"featured_media":75463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36,38],"tags":[30],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Things to Know about System of Agreements | Revv Blog<\/title>\n<meta name=\"description\" content=\"The System of Agreements is a connecting point for agreement processes. 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Most companies have this system but its time they modernize it!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.revv.so\/blog\/sales\/know-about-system-of-agreements\/\" \/>\n<meta property=\"og:site_name\" content=\"Revv Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-30T13:28:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-18T12:57:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.revv.so\/blog\/sales\/wp-content\/uploads\/2020\/01\/Feature-Image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diksha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/#organization\",\"name\":\"Revv\",\"url\":\"https:\/\/www.revv.so\/blog\/sales\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/blogsales.revvsales.com\/wp-content\/uploads\/2020\/11\/Revv-Logo-v0.png\",\"contentUrl\":\"https:\/\/blogsales.revvsales.com\/wp-content\/uploads\/2020\/11\/Revv-Logo-v0.png\",\"width\":2212,\"height\":539,\"caption\":\"Revv\"},\"image\":{\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/#website\",\"url\":\"https:\/\/www.revv.so\/blog\/sales\/\",\"name\":\"Revv Blog\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.revv.so\/blog\/sales\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/know-about-system-of-agreements\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.revv.so\/blog\/sales\/wp-content\/uploads\/2020\/01\/Feature-Image.png\",\"contentUrl\":\"https:\/\/www.revv.so\/blog\/sales\/wp-content\/uploads\/2020\/01\/Feature-Image.png\",\"width\":1200,\"height\":480,\"caption\":\"RevvSales - The agreement journey from old manual ways to the digital way through System of Agreements\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/know-about-system-of-agreements\/#webpage\",\"url\":\"https:\/\/www.revv.so\/blog\/sales\/know-about-system-of-agreements\/\",\"name\":\"Things to Know about System of Agreements | Revv Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.revv.so\/blog\/sales\/know-about-system-of-agreements\/#primaryimage\"},\"datePublished\":\"2020-01-30T13:28:32+00:00\",\"dateModified\":\"2022-11-18T12:57:26+00:00\",\"description\":\"The System of Agreements is a connecting point for agreement processes. 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