Agreements are a critical part of operating your business. From the negotiations and contracts with your clients and vendors to the agreements employees have to review and sign during onboarding, agreement management is probably a significant part of routine operations at your organization.
But systems of agreements often require an inordinate amount of administrative time to process. Printing, signing, scanning, emailing, maybe even physical delivery—it all consumes a lot of human and financial resources. How can you make your agreement management system simpler and more cost-effective? It starts with standardizing and digitizing as many components of the process as possible.
We’ve got some guidelines for preparing electronic agreements that will help you gain loads of efficiencies around the office:
1. Speed up negotiations and increase efficiency
Imagine being able to turn around contracts in hours . . . maybe even minutes instead of days or weeks. It’s possible with an electronic agreement management system.
Don’t get bogged down in all the back-and-forth communication that’s often required to close a contract. With a productivity tool and PDF solution, multiple stakeholders can review and annotate draft agreements in real time without having to revise and send multiple documents. With the help of a solution like Nitro Pro™, you can create, edit, and even electronically sign digital partnership agreements, contracts with clients, lease agreements, and more without the need for a printer, scanner, or the post office.
2. Save money
Let’ face it: paper isn’t environmentally friendly; and it’s not cheap either. Yet the average knowledge worker uses 10,000 sheets of paper per year, according to the EPA. That’s equivalent to more than one average tree per office worker per year. However, when you make your agreement management process digital, you can significantly reduce printing and also cut postage and delivery costs.
3. Enhance customer and employee satisfaction
Modern workers and customers increasingly expect immediacy in their interactions with businesses. If your prospective customer has to print out, sign, and then mail documents and agreements in order to formally launch a relationship with you, you risk beginning a relationship with frustration. At the same time, your tech-savvy workforce doesn’t want to have to print out reams of paper to move processes forward and close deals.
Managing agreements electronically also provides for easier standardization of processes, simple creation of templates, and real-time access to latest versions of documents. When everyone on your team is using the same tools, forms, and processes, it means a greatly reduced risk of mistakes or inaccurately executed agreements. Streamline your electronic agreement management system with a digital partner who can provide more tools for automation and electronic collaboration with an intuitive, easy-to-learn interface.
5. Create more seamless workflows
One of the biggest pain points for today’s knowledge workers is inefficient document processes. In fact, 39% of knowledge workers say their office workflows are only “somewhat up-to-date at best.” With a digital solution like Nitro Pro, however, you can update your agreement management system to one that provides more seamless workflows. Nitro can help your organization’s agreements go paperless with both eSigning and collaboration on the cloud.