Business has changed an awful lot over the past few months. By now you will most likely have a very good understanding of what processes were able to withstand a major shock, and which simply crippled. One process for many that will have to change quickly is contract creation and getting those contracts signed.
Gone are the days of getting contracts signed in person. Now, getting them signed electronically is a requirement from both an efficiency and a health and safety point of view.
So if you haven’t already, should you consider digitising your contracts? In short, yes.
Now, let’s look at some of the key reasons why…
Social Distancing
Measures have been put in place all around the world limiting how far people can travel, but also how close people can get to one another. Together, these have caused major disruptions in getting contracts signed. However, with digital contracts, there is no need to be in the same room, or even in the same country.
Digital contracts can be sent around the world in seconds and be eSigned with ease – unhindered by travel and movement restrictions.
Pure efficiency
Digital contracts with Doc2 have been designed so that you can create exactly the same contract as you currently do from your ‘master template’ in a matter of seconds. Smart templates populate the contract based on your inputs, meaning you can create contracts more quickly, but also more compliantly.
Structured data
Standard contracts, although created in a word processor, lose key data within them as unstructured data. For example, prices, billing terms and contract lengths are lost for further analysis. Across hundreds of contracts, this data is highly valuable, but is lost in almost all cases. When you digitise your contracts, key data is kept as structured data. Over time this structured data can provide valuable insights, potentially guiding key boardroom decisions.
Integrated
Digital contracts are easily integrated with other platforms. For example, with Doc2, you can pull live company data directly into your contracts from Companies House. This allows you to seamlessly, and compliantly create contracts in a matter of seconds. CRM integrations also allow record data to be mapped into contracts with ease.
Ready to digitise your contracts?
In a rapidly changing world, where contracts need to be signed, digitising these processes should be high on your agenda. Sign up for a free trial of Doc2 today.