Key Business Benefits of Adopting an Electronic Signature Solution into Sales Operations
Do you know in which stage of the sales process your sales representatives spend most of their time? No, it’s not overcoming objections after a sales pitch and neither prospecting. Rather, it is in administration. On average, a salesperson spends almost one-third of their valuable time on heavy administrative duties, such as handling paperwork and data entry. This means that more than 28 percent of the time they are actually selling to clients.
Hence, deploying an online electronic signature solution in your sales operation’s workflow can empower your sales executives to spend less time on paperwork and more time on closing deals. There are multiple business benefits which go along with it as well.
Discount approvals, sales agreements, invoices, quotes, and so much more go into creating successful sales and nurturing robust business relationships. Implement an eSignature software solution for your sales department, which will help your business in many ways ranging from robust revenue to minimized risk and more.
Here we present various ways of how integrating electronic signature technology into sales operations can be beneficial for your organization.
1. Close More Deals Anytime and Anywhere
It has been observed that almost 45% of employees in the U.S. engage themselves in various work-related tasks outside their workplace. Utilizing mobile technology means that your business is open all the time. Sales operations which cannot keep up with the digital transformation will be doomed as competitors close deals while traveling or when having lunch with customers.
So, in order to close deals, sales operations will want to implement a mobile-first electronic signature software, so that salespeople are prepared to close revenue no matter the time, device, or location.
The automated eSign solution enables users to digitally create, send, sign, and also store crucial sales documents on mobile devices as well as on desktop computers. Plus, you can also collect signatures in person on your mobile phone if the situation calls for it. Also, your prospects can easily access and sign contracts electronically through a mobile device as soon as they receive them.
Are you searching for a way to wrap your sales process up with a mobile-friendly bow? Then switch to a cloud-based eSignature solution. Agreements are designed to be completed on a mobile device without missing out on anything, such as advanced data verification and the ability to create contracts by populating the data from external systems. All the critical information you just gathered aren’t tied to a PDF, and so it is free to flow into the backend systems without any data entry.
2. Scaled Sales
The truth is, there will always be a variety of documentation when it comes to starting a good working relationship- service contracts, quotes, proposals, NDAs, and so much more. But today, there is no excuse for any amount of paperwork stalling your sales or the ability to scale- not when you can take it online with an electronic signature sales software.
According to Forrester Consulting, physical sales documents typically have to be managed by four different people internally. Usually, it takes two administrators and two representatives to get the sales paperwork out the door. However, after implementing the solution, the handling time drops to just 8 minutes, thus providing your sales departments an unimaginable amount of time to scale up all their efforts.
Can eSignatures really make such a huge difference? We must be thankful for integrations and time-saving templates. With the help of eSign software, salespeople can generate reusable templates so that even complicated contracts can be turned around in a few minutes. Easy-to-implement integrations with several platforms automatically pull in all the relevant client details so that you can format, send, as well as sign crucial sales contracts in seconds.
3. Minimized Legal Risk and Security
Today, it’s crucial that every sales company strikes a balance between providing strong security and legal measures and empowering sales experiences in order to keep the organization and customers protected. While looking for an electronic signature platform, sales operations should check for detailed audit trails in order to ensure that every action on each electronic contract is monitored and time-stamped thoroughly, so that it can never be tampered or modified without their knowledge.
Bank-level security ensures that the data collected from audit trails and authentication processes are reliable as well as legal while built-in compliance measures keep organizations updated on standards such as HIPAA, GDPR, and much more. eSignature platforms like SutiSign help businesses of all sizes to find their balance between frictionless sales,extra strength security, and legal measures.
4. Trustworthy and Robust Revenue
A sales process with defined steps is simply great for closing revenue fast. Plus, it is also awesome for empowering the sales department to do it all over again with less manual effort. By leveraging a robust electronic signature software, companies can readily depend on sales-generated revenue in order to support present stability and fuel growth in the long run.
Organizations that integrate eSign technology have been shown to grow revenue by 9% in the first year itself.
It has been observed that organizations that integrated eSign solutions into their existing applications and processes, the average savings for each document was above $20, which could add up to millions in savings easily depending on the scale of sales. This is another area that will benefit from leveraging an electronic signature system.
5. More Contracts with Less Errors
It’s a known fact that contracts are crucial to sales. So, why not make generating, sending, and signing them effortlessly?
On average, it takes more than three days to gather signatures physically as opposed to doing so digitally. Sales representatives need to be able to view and control the document process if they are going to accelerate turnaround. With an eSign solution, users can define and assign every field carefully, dictate order of events, create reminders for signers who have yet to complete their part in the process, and gain insight in the progress of the document. Smart validations and automations to round out the process, signers don’t have to slog through the same questions, and sales executives never get stuck chasing down missing details.
6. Reduce Transaction Costs
The automated methods of eSigning can minimize the financial impact of human error such as signing errors, which can slow down the process significantly or cause costly problems if they remain undetected. Electronic signature software can mitigate risks by providing alerts and notifications about suspicious records/compliance issues involved with a document. eSignatures ensure that everything is in order, thus saving the cost of fixing issues, which could have been prevented. Plus, don’t miss out on the obvious savings on items like paper, packaging, and shipping. Such costs may seem minimal, but they gradually add up.
7. Improve Your Customer Experience
Customer satisfaction is a major factor influencing your business success. Your clients would be more satisfied if your relationship with them becomes more effective. An eSignature solution saves your customers’ time and makes the whole signing process more desirable for them. How? Your clients can sign vital documents anywhere, anytime they want, using any smart device they prefer.
8. Fast and Productive Sales
Enforcing crucial business decisions should undergo a long phase where several documents need to be signed and approved by various stakeholders. Ideally, if it takes time to sign and approve agreements in person, the more time it’ll take for the decision to be implemented into action.
Such formalities between suggesting an idea and implementing the decision, it has been observed that multiple ideas get lost in between every stage of the contract signing method. Hence, when you want to shorten the gap between a decision and implementation, you need to leverage an eSignature software to speed up the process and formalities involved in the implementation of the decision.
With the help of eSignature, each party involved can approve the decision and implement it by signing the document easily. It’s one of the major reasons why electronic signature solutions are being widely accepted by companies and also for individual usage too.
9. Seamless Workflow
The selling method isn’t limited to a specific location. Rather, it ranges across various countries as the target audience belongs to different corners in the world. So, easy collaboration between two or more parties is crucial to make the sales process more productive and easier.
A person can be living in another corner of the world but can easily receive the document within a few minutes. There is no need for scanning, printing, faxing; and salespeople can get straight to the business of signing.
Reinforcing effectiveness, minimizing human errors, cutting down expenses, and accelerating processes are some of the most obvious benefits of deploying an eSignature solution. What’s certain is that the solution is here to stay, and the sooner a company deploys it, the more its market edge will be.
So, if you need to close more deals fast, then there is no better way than deploying an effective electronic signature system into your sales operations workflow.
