In a world where customers have more options and less patience, buying decisions have always been a race against time. For remote sellers, the consequences of missing out on a deal could mean lost revenue and missed opportunities. Unfortunately, there aren’t any easy solutions for remote sellers who struggle to keep pace with the demands of today’s buyer.
Luckily, there are solutions like eSignly eSignature technology that can make it easier for remote sellers to close deals faster and increase the revenue of the business. With digital signatures, remote sellers can sign off on agreements in minutes, without needing face-to-face meetings or mailed documents. That means they can close deals faster and avoid missing out on important opportunities.
Electronic signatures are quickly gaining popularity in the business sector. With the current COVID-19 crisis disrupting the normal business processes across the globe, digitalization has become inevitable for most companies. Exclusive e-signature platforms have made it easier for companies to close sales reps and cut down on paperwork, saving both time and money.
The signing procedure is usually the longest part of a typical sale cycle. Simplifying this signing task shortens the whole sale cycle.
There are various kinds of electronic signatures. Article 3 of the EU eIDAS regulation defines three different kinds of electronic signatures:
- An electronic signature is just a piece of data that is electronically signed.
- An advanced electronic signature is one that is unique to the signer (i.e., not shared by anyone else), is controlled solely by the signer, and allows for detection of changes made to the document after signing.
- A qualified electronic signature is one that has been generated using a certified electronic signature device and which is based on an official certification for electronic signatures.
There are two main types of electronic signatures: the electronic signature and the advanced electronic signature. Both are legally valid, but the advanced one provides a greater level of security than the first one.
However, the qualified electronic signatures, although they offer greater guarantees regarding the identity and integrity of the signer, are not widely used in commercial transactions due to their added complexity.
How to Streamline Your Sales Cycle?
Before we start talking about how to streamline your business processes for better results, let’s first talk about why they exist at all.
There are some things you can do to help you make your sale cycles more effective. Here are just a few examples:
- Automating your marketing, outreach email, and follow-up processes saves time and increases the productivity of your teams.
- Transparency – making every aspect of your business deals more transparent and improving the clarity can be good for both you and your clients to keep an eye on the progression.
- Connecting with potential clients - Try to improve your conversations with your prospective clients by engaging them via live chat, emails, etc.
- Reduce the number of paper forms required during the sales process by using electronic signatures.
Transform the Way of Remote Working with Electronic Signature
Remote workers are likely to continue to grow in number and become an increasingly important part of the workforce. This means that the benefits of using remote work will continue to increase. However, there may be some challenges associated with this trend, including slow transaction times, increased costs, and frustration among both customers and staff.
These issues can be solved by using an e-signature solution such as eSignly which allows remote workers to electronically sign and send back signed contracts and agreements from anywhere on the globe from any device.
What exactly is an electronic signature? And how can it be used for business purposes?
You can easily create an electronic digital "sign" for any agreement that your company has in place with its clients, partners, and/or staff members using electronic signing software. As with traditional hand-written signs, these electronic digital "signs" demonstrate clear and legal proof that the person who signed the agreement agreed to the terms and condition set forth in the agreement.
It will also let you eSign documents online without having to print them out first.
- Integrate seamlessly with other apps and document sharing systems
- Use pre-made layouts and designs
How eSignly Helps in Closing Deals Faster?
What are the benefits of using electronic signatures for your sales team?
Have you noticed that most leads come in after they've already been contacted by someone else?
Are you feeling that you're losing out because your competitors are getting contracts faster than you?
If your answers to these three question are yes, then your sales team needs an electronic signature solution.
They will not just improve the overall potential of your teams but they will also help clients become more productive.
Sales closers take hours to complete. They often overwhelm salespeople and their clients. Eventually, productivity suffers.
If your company has the right tools, then they can help improve employee efficiency by cutting down on the time spent on many passive activities.
These days, most companies use automated systems for customer support. However, if you want to take things into your own hands, then you need to handle each step manually.
Using electronic signatures can significantly reduce the time needed for signing documents. By digitising the signature task, you no longer require paper copies of signed contracts.
It makes sense for companies to digitize their e-signature processes because they save time and boost efficiency. They speed up the entire workflow and enhance the performance of the entire company.
Streamline Sales Workflow
A big reason why sales organizations use electronic signatures is to speed up the approval process for documents. Salespeople need to devote 39 percent of their time to making deals happen. But other non-sales related activities keep them from doing so.
According to HBR research, 22% of their time is used on administrative duties. With electronic signature solutions, you'll see an improvement in the company's overall efficiency. According to GetAccept, 58% of all business transactions can be completed within 24 hours when using e-signatures.
Another study showed that electronic signature (eSig) technology can significantly decrease the turnaround time of processing a document by up to 80%. You can add additional fields for their signature. It helps your client understand where they need to be signed.
With all the paperwork becoming digital, the sales people can easily provide the right information without any risks and get contracts signed with just one click. Moreover, there is no longer any requirement for manual filing since everything is now saved in the cloud.
Reactivate Silent Contracts
Have your marketing teams ever tried sending out proposals that never get signed? The short version is yes, and you are not alone. In fact, according to a study conducted by HubSpot, almost 50% of the proposals they receive fail to get signed. That means with every proposal you submit, only about 25% of them actually get signed.
Using e-signature technology, you can instantly alert your clients and personalize the customer experience by sending them customized messages.
Dynamic and highly personalized contract template creation allows your sales teams to create contracts easily and quickly.
With the help of templates, they can create professional looking documents and impress the prospects quickly. Moreover, it takes less than an hour to set up a template. Imagine how swiftly your sales people can close a sale.
Sales Team Satisfaction Increases
To retain professional talent, it's important to provide them with the right tools so they can perform their jobs effectively.
A digital signature is one of those things that can help keep people motivated because they provide ease and speed for processes which could otherwise take longer and be more complicated. Finally, it helps simplify procedures so that sales teams can remain motivated and satisfied with their performances.
Closing Deals on the Spot
Electronic signatures are now considered the best method for signing legal contracts. Small business owners and successful sales professionals use them because they close more deals faster than ever before.
Stop Chasing Rogue Contracts
Salespeople don't like having to wait for prospects to sign their contract. Especially if they're close to hitting their quotas.
It’s an anxious moment for representatives, and a process that results in annoying customers and losing business. Did it arrive? Have they read it? Did I miss his email?
And in a world where interactions with potential clients are increasingly being replaced by online tools and content, it’s an elevated point of stress for salespeople.
With eSignly‘s status notification feature, contracts no longer need be a point of stress when working with clients. eSignly sends status updates to your team members every single day. So they don’t spend valuable hours searching for missing agreements and chasing after clients for signatures.
APIs Unlock Newfound Flexibility
Because going remote only makes sales teams rely even more on the digital world, managers must be careful about which digital tools they select. They should opt for those that can adapt well to new and unexpected digital needs.
With API-based tools, salespeople don't have to wait for their IT departments to develop features or functionalities; instead, they can simply plug-in an API tool into their CRM system and start using it immediately.
eSignly is built for easy and simple Salesforce integration, with an easy- to-integration API that’s available in less than two weeks.
Reduces the Turnaround Time
ESignatures can help significantly shorten the time required to complete a full sign off stage of the sale closing processes. On average, the turnaround time is shortened by using signatures instead of handwritten notes.
Eventually, this helps close deals faster without compromising on the quality of the assessments done during any important phases.
Electronic signatures are extremely useful for small business owners who deal with multiple remote clients, or who have trouble getting everyone together at once.
By digitizing the signature handling process, you ensure that the workflow of the process is better managed. You will be able to see the current status of each step of the process at any given time.
Therefore, you are completely in charge of the progress of each individual sales reps in the funnel. You may be able to identify which steps need attention so you can accelerate them.
Eventually, you eliminate all the passive activities involved in the closing stages of sales. This allows your sales team to close more deals faster.
A single error may not be a big deal. However, if there are multiple mistakes, they may accumulate and cause serious damage. If you don't have an effective contract management system, these mistakes may cost you more than expected.
Digital signatures help reduce the number of mistakes made when signing sales documents. Services like eSignly offer a wide variety of contract and legal template options so that your business’s representatives can easily create contracts and agreements without having to spend time researching different forms. You can then sign these documents using an electronic device like a tablet or smartphone.
With the manual signature process, when an error happens, rework on the documents creation, signature, and closing takes even longer. This, in turn increases the closing time.
Sending back a signed contract takes too long if you don't know how to make revisions.
With electronic signatures, there’s no need to worry about making errors when signing documents. You can easily undo them if necessary.
Handling physical legal docs can be riskier than usual. You won't get any feedback until they're received by the client, so you won't have any idea if something went wrong. And there's no way to control what might happen in between.
With e-signature technology, you can easily track where the document is at each step of the process. You'll be able to see where the sales documents at any time, which recipients have seen it, and if anyone else has already approved it.
When someone attempts to tamper with the documents during the editing process, you can be sure that you'd receive an e-mail alert. Most likely, you could even make changes in real time.
Ultimately, this offers greater protection for the entire electronic signing process. It also has the same legal protections as a traditional paper signature.
What can Electronic Signatures Solutions Offer for Supporting Remote Working?
Electronic signatures will help you get things done faster and easier by reducing the number of mistakes made when signing important documents.
It's easy and flexible. Because there are so many different types of business worldwide, it makes sense for documents to be sent electronically to any place where they can be signed electronically.
It is safe and secured – With many businesses often signing and returning highly confidential and sensitive data, it is important that this is secure and protected. Whether it’ s a sales contract or NPA that requires a signature, doing it online means that sensitive documents can easily be encrypted.
Electronic signatures are legally binding - using electronic signing software allows different parties in different locations to sign contracts in a perfectly valid, lawful way. All electronic signing software complies with UK law, the EU eIDAS regulation, and international laws and statues.
An electronic signature enables you to create a clear, digital record of who has signed a document and when they did so. This makes it easier for anyone else involved in the transaction to verify its authenticity.
The Key Takeaway
It’s no surprise that electronic signature services can help sales team’s close deals faster, eventually helping them sell more.
Digital signatures can be more accurate and safer than manual processes. Integrate them into your sales closing process and you can effectively focus your workforce on tasks that are more important.
With a free eSignature software, the sales team can keep tabs on each contract they send out to clients. They can see in live time whether the client has signed the document or not and when the sale closes. Moreover, they use electronic signatures to boost their daily productivity by focusing on building strong bonds and nurturing leads.