How e-Contracts Improve Hit Rates and Diminish Close Time

In a company, there are various departments that collectively contribute to its success. One of the department that derives revenue and gets the products to its target audience is the Sales Department. When you are a salesperson, it is not enough to arrange a meeting and give demo to a client, you are responsible to sell the product or service and seal the deal. It could be a tiresome and time-taking process. Not just the meeting and convincing, the process of signing a written agreement also takes a lot of energy and time.

But what if there was a way to shorten the contracting process? Something that lets you sign a deal from anywhere at anytime?

We are talking about e-contracting. Platforms like Feelium E-Contract offers you a One-Stop-Shop for Creating, customizing, sharing and signing a contract through a digital medium.

But here is how a contract help you in increasing hit rates and reducing close time

The answer is very simple. When we digitalize the process of contracting, we can enter an agreement with anyone, anywhere and anytime. You could be in the same room or miles apart, the digital process makes contracting borderless and saves you time.  This proves beneficial for the Sales team as they do not have to go follow up for physical meeting for each change or signatures.
Let us look at some of the Top reasons E-contracts can be helpful in increasing Hit Rates and reducing close time.

Eliminates Geographical Constraints

An e-contract is an agreement between two or more parties done through online means. Use of internet has removed the barrier of location for people. The same is the case for electronic contracts. Two or more parties that have agreed to enter a contract can be present under the same roof or in different corners of the world, they can still enter and sign a contract through online contracts.
For sales team, eliminating this barrier allows for a quicker response and increases the chances of closing a deal.

Mobile Friendly and available anytime

According to a report there published in 2017, there were more than 5 billion people connected to mobile services. And, it was found that 80% of them checked their mobile phones with 15 minutes of waking up. Isn’t that interesting? It is common knowledge that our phones have become smarter and people spend more and more time on their phones.
With time, contracting is also shifting to the smarter way. Platforms such as Feelium E-contracts have mobile friendly interface. Even if you are unable to login to your desktop or laptop, you can just check the contracts and its changes on your smartphones.

Involves Decision Maker in the Process

In case of Business Contracts or contracts concerning large corporations, there are multiple people that are involved in the decision making process. Although we have started using E-mails to keep everyone informed, it still creates a long thread to keep up with. Plus, any changes suggested by these decision makers are to be accommodated in the file and re-shared with everyone. This could be a long, time consuming and tiring process. To keep everyone updated and involved in the contracting process, e-contracts offer a better, faster and easier alternative for businesses.
The sales team can include the management of a company in the loop when creating a contract. Suggestions by the involved members can be directly accommodated on the e-contracting platform and they can also sign it digitally.

Only one Version of a Contract Prevails

Let’s face it, as a member of the sales department, you must have created multiple copies of a proposal for a single client. Whether it was because there were two or more parties involved or due to various changes that took place during negotiations. These multiple copies of a single contract and their variations can cause chaos to the whole process of contracting. But e-contracts provide a perfect solution to this problem.
Since e-contracts have the involvement of all parties at a single platform, it eliminates the need to create copies for each participating member. All parties can make changes to the same file and it can be viewed by other parties simultaneously. Thus, online contracts have only one version of a contract that prevails throughout the process of closing a deal.

Double your Sales productivity

As a salesperson, you are responsible for multiple clients and handle numerous contracts. It is possible to lose track of these paper documents or mix them with other papers. This could cause errors in the contracts, portray you as unprofessional and may even lower the chances of cracking the deal. This, in turn, kills the momentum at work and productivity of your team. E-contracts let you stay in control of your legal documents and stay focused at convincing the clients. With a single click, you can customize the contract on your mobile or laptop and close the deal then and there. When you have access to your contracts anytime and everywhere, you double your chances of finalizing a deal.

A Step to Protect Environment

Switching to the digital way of contracting, not only are you getting the above mentioned benefits, but you are also taken a step towards saving the environment. The excessive use of paper that is involved in a contract can be saved when you use electronic contracts. Not only are these legally binding in nature but prevent wastage of papers as well. Be a part of this evolving contracting system with feelium e-contracts. You can create, customize, share and e-sign your contracts anytime and anywhere.

No business can survive without selling their products and services. This requires an effective and efficient way to handle clients and closing a deal. As we saw in the above article, e-contracts can prove beneficial for the company and its clients in closing a deal in an easier, faster and more environment friendly method. Contracting can be really tricky and time consuming but some platforms such as feeliumecontract.com provide you legal templates created by professional lawyers that help you save time and money. Not only can you customize a template but also digitally sign the contract. Hence, finalizing a deal in 1/3rd the normal time taken.