• This topic has 5 replies, 4 voices, and was last updated 1 year, 1 month ago by Abhijeet Sarkar.
  • Author
    Posts
  • #8010871
    Streamline contract signing process
    Abhijeet Sarkar
    Participant
    Mar 17, 2023

    Hey everyone,

    Question for you all on advise on streamlining the signature process. We do enterprise level deals, so minimum 15K and above. This usually requires a decision-maker (ie. CFO) to “sign-off” on the deal. The benefit is that we typically deal with the CFO right from the beginning, so if they’re on-board and they like what we have then they’ll definitely sign.

    The problem is the signature process itself is a little annoying. Once the contract is sent we end up waiting for them to actually “sign” the damned thing.

    Part of signing is that we also send the first invoice / deposit, set up the banking details and get on-boarded as a vendor in their system so that we can get paid. This whole thing takes time and requires continual follow-ups.

    Does anyone have any ideas on how to streamline this? Ideally we’d have a button that you click and enter your payment details on our website… but since we’re a little bit too big for your typical self-serve signup this feels a little awkward.

    #8011010
    Michael Stone
    Participant
    Mar 17, 2023
    Michael Stone Mar 17, 2023

    I didn’t set it up, but we use Docusign then Zapier to automatically send a personalised Stripe invoice/payment link.

    I think you can now do bank transfers via Stripe too but we take a credit card.

    Docusign is good because they chase up (email automation) the prospect if they haven’t signed. Rather than you risking your relationship with them by following up.

    I actually found the quickest way to speed up our payment process was a line from a training video in the Academy. I’m not sure which workshop but it was to ask about their “paperwork process”. Once you understand what that is, you can reverse engineer the quickest way to get through it.

    #8011026
    Michelle Dixon
    Participant
    Mar 29, 2023
    Michelle Dixon Mar 29, 2023

    Are you sure you’re too big for self service checkout? We’ve done £100k+ deals that started with a custom checkout page.

    #9011094
    Abhijeet Sarkar
    Participant
    Apr 3, 2023
    Abhijeet Sarkar Apr 3, 2023

    That’s very interesting… Do your clients pay through Credit Card / Direct Debit? Or is it all invoiced & paid by wire or funds transfer? We’d prefer to do it all through CC or Authorized Bank Debit so that we don’t have to worry about collections.

    #9011107
    Will Barron
    Keymaster
    Apr 3, 2023
    Will Barron Apr 3, 2023

    Sorry Abhijeet I missed this one. Some thoughts –

    The problem is the signature process itself is a little annoying. Once the contract is sent we end up waiting for them to actually “sign” the damned thing.

    Are you using a tool to send (and chase) the buyer like Docusign?

    Do you need contracts? i.e. can they not just insert their card details into a custom form (Stripe payment links) and set up a subscription/auto invoice instead?

    Part of signing is that we also send the first invoice / deposit, set up the banking details and get on-boarded as a vendor in their system so that we can get paid. This whole thing takes time and requires continual follow-ups.

    Are you getting buy in from procurement/purchasing during the sales process?

    Are you asking the question “what does your paperwork process look like?” during the discovery call so you can get ahead of any delays?

     

     

    #9011163
    Abhijeet Sarkar
    Participant
    Apr 12, 2023
    Abhijeet Sarkar Apr 12, 2023

    Hey Will – we typically use Dochub, which sends reminders. But sometimes (for one reason or another) the customer signs the document themselves and just emails it to us.

    In terms of procurement/purchasing… our customers don’t typically have a dedicated purchasing/procurement team or person. It’s usually the CFO who approves and then an AP Clerk who processes the payment.

    Where I’m crystallizing around is either the “quotes” feature in HubSpot, or another tool like Cacheflow (https://getcacheflow.com) which lets us quote, sign and collect payments + renewals in one spot. Haven’t tried it yet but thought I’d share it with the community.

     

  • You must be logged in to reply to this topic.