Salesforce Contracts Winter '23 Release Notes

This section provides a summary of the new Salesforce Contracts application in Winter '23.

Salesforce Contracts application allows customers to manage the complete end-to-end lifecycle of contracts. A robust contract lifecycle management is crucial to the overall sales process health of an organization. The Salesforce Contracts application gives you complete control over the sales process integration, contract management process, and contract lifecycle that starts from contract authoring to activation.

Note Salesforce Contracts application is independent of the Vlocity Contract Lifecycle Management application, which is part of a managed package.

With a comprehensive contract management strategy in place, you can get the most value out of your contracts during each phase of the process. Salesforce Contracts helps businesses:

• Reduce contract lifecycle time.

• Enhance customer experience and satisfaction through process digitization.

• Reduce administrative overheads.

• Improve compliance management by reducing financial and legal risks.

• Increase contract renewal rates.

Where: ContractManagement license is available for an additional charge.

Who: Available for users with ContractMgmtAdmin, and ContractMgmtRuntime user contract management permission sets.

Why: The Salesforce Contracts application integrates contract creation with the sales process, which means contracts are carried forward through the different stages of a sale, for example from an opportunity to contract. You can also create standalone contracts that are not part of any sales process. For example, you can create non-transactional contracts such as non-disclosure agreements or partner agreements.

Each contract has a lifecycle that it progresses through based on a defined object state definition (state model). Salesforce Contracts capabilities include contract lifecycle configuration, contract object state definition, and integration with DocuSign for e-signature.

Salesforce Contracts assures a better customer experience with wide-ranging features:

• Salesforce Contracts APIs: Facilitate industry-specific use cases where APIs can fully orchestrate Salesforce Contracts application functions.

• Create and Update Contracts: Create and update contracts directly from opportunities, orders, quotes, or any standard Salesforce object, and custom objects.

• Contract Document Generation: Generate a document within a contract document version.

• Document Version Management: Simplify the process of maintaining an accurate record of the changes made to a contract document during its lifecycle.

• Contract Type: Manage various types of contracts with different lifecycles within an organization.

• Contract Lifecycle Management and State Model Integration: Automate and streamline end-to-end contract lifecycles. Using the Object State Definition, define the lifecycle for a specific contract type, which controls the actions and operations available for users at each state of a contract.

• Document Template Designer via DocGen: Standardize the contract creation process with pre-approved document templates.

• E-Signature Integration: Review and sign the documents electronically. Salesforce Contracts application integrates with DocuSign to enable e-signatures.

How: After you enable the ContractManagement license in your org, the Salesforce Contracts functionalities are available for use. However, you must configure a few additional settings.