Sometimes the atmosphere in your company can seem rather hectic and almost insane – employees are running around, some are yelling, some are crying, and you get the impression that all they want to do is to escape the building as soon as possible.
And let’s be fair, your desires are the same.
We’ve all been there. We’ve all experienced this life-changing moment of contract signing. But some of us haven’t lost our nerves (and hair) trying to predict what can go wrong while getting an important deal completed.
So what can go wrong? And what can you do to turn your weak points into strengths?
You wasted months on making a contract, you printed it out many times, you scheduled several meetings, then you decided to send the document by a courier who eventually was late. In the end, your deal fell through.
To avoid such an outcome, you should focus on the most frequent pitfalls because they can be easily avoided:
- Tiresome contract generation. You can’t properly figure out what information you need and where to put it. And you are poorly aware of how this information should be organized. Instead, you are still focused on the amount of deals that failed because of the inappropriate format of your documents. Thus, you realize that contract preparation turns into something extremely important, especially from the very first steps.
How can you solve this?
Contract generation can take only a matter of minutes if you create a template for it.
First of all, you should find out what contract document format is the most appropriate for your deal. Consult with professionals in the legal sphere to specify the necessary moments and details and adjust the form of a document by considering your needs.
After that, you can convert your completed contract into a reusable template. This way you eliminate repetitive manual data entering and save time on your foremost tasks.
- Poorly defined approval processes. Both sides can’t agree on the time and place of the contract signing. Your team wastes more time on planning the most appropriate signing schedule rather than on defining the terms and conditions of the contract. Another problem is that you have several contracts set to be signed. And your chances of losing face are growing with every other document you create.
How can you solve this?
A main weak point that causes delays with contract signing is using a wet signature. Wet ink signatures require dozens of actions to be done before both parties can finally sign a piece of paper.
Scheduling meetings or couriers, and getting all of the necessary copies of a document can be a lengthy process. If delays fall at the wrong time, they can bump revenue reporting to the next quarter or even the next year, which is more than inconvenient for a company’s financial reporting to say the least.
Next, sending hard copies around increases the risk that someone will miss a page or even mistakenly sign the wrong version, resulting in a costly legal review to correct the error. Finally, drafting a contract electronically, transitioning to a hard copy to sign, and then moving back to digital storage and management makes it harder to track the full lifecycle of the contract.
Thanks to digital signatures, all these troubles will never appear in your business workflow. Digital signatures are secure, legal and much more faster than wet ink ones. You can manage your contract and send it for signing even via your mobile phone.
SignNow helps individuals and businesses cope with tiresome and nerve-racking processes such as contract signing. SignNow is easy to use and considering its cost-effectiveness, is a reasonable choice for those who want to create and sign documents anytime and anywhere as needed, from any internet-connected device.
Always keep in mind that you don’t have many chances to produce a poorly organized contract or to cause its delay. A deal is a deal, and your goal is to get it done as fast as possible. Do not hesitate to enhance your chances of success.