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Let’s get something straight: you don’t need PDF contracts.
We frequently hear of businesses sticking with decades-old traditional eSignatures – that is, emailing a PDF back and forth to be signed electronically – because they believe this method is the only way to carry out a legally binding agreement. In reality, modern acceptance methods like clickwrap are not only just as enforceable as eSignatures, they actually have a better success rate in terms of efficiency and accuracy.
eBook Download: 101 Ways to Use Clickwrap
Don’t keep letting old signing methods hold you back. With modern contracting technologies like clickwrap and self-service agreements, you’ll be ahead of the curve and better prepared to keep up in the digital world.
When your sales team is constantly sending contracts by email, it becomes an entire job just for legal to keep track of who has signed and follow up on those that haven’t. What typically happens is that the task becomes neglected entirely. Clients may slip through without ever signing or having completed documents incorrectly.
There’s a good chance no one will even notice until an issue arises and you discover you don’t have an enforceable contract in place. If a disagreement goes to court, the legal system is much less likely to be on your side.
Cutting-edge contract management platforms like PactSafe give legal departments a virtual control center for acceptance. PactSafe’s dashboard makes it easy to quickly identify who still needs to sign. The platform also accumulates acceptance data that can be used to learn more about trends and identify areas for improvement.
There’s a lot of manual work that goes into producing documents to be signed via traditional eSignature. These contracts are typically typed up in a Microsoft Word document and then exported as a PDF for signing. But what happens when the terms change or you need to modify the contract for the next client?
You’ll have to go back into the Word document, locate the information you need to change, and export a new PDF file. This is why many legal departments find themselves buried under hundreds of versions of the same contract with no easy way to identify which is the most current.
Today’s clickwrap transaction platforms keep versions organized and cut down the time and effort required to update specific terms. The moment that one person makes an update, the latest version instantly becomes available to everyone in the same central location.
Even if someone does manage to locate the correct version of a contract, there are far too many opportunities for human error. Making changes manually relies on the idea that the document’s editor won’t gloss over sections that needed an update or inadvertently enter the wrong information.
In contrast, dynamic clickwrap agreements can automatically populate with the necessary terms, pre-approved by legal teams. This way, legal can control be used to automate is a standardized contracting method that can repeat the same process indefinitely without making a single error. Legal departments simply need to set up templated language for each type of agreement and define where different sets of customizable terms fall within that framework.
When it comes time to update terms, the technology handles all the changes without someone having to manually hunt through countless pages in Word.
There are plenty of valid reasons why businesses are hesitant to take on digital change. Adopting new technologies has a monetary cost, of course. It also requires that resources be dedicated to planning and executing a successful change initiative.
But sooner or later, digital transformation is no longer a novelty; it’s a requirement to keep up with the rest of the industry. Becoming an early adopter of new innovations puts you ahead of the curve and in the best position for long-term success.
Clickwrap’s competitive advantages give you a leg up in many capacities. For example:
Every business will inevitably need to adapt to digital technologies. The ones that act first, however, will have a competitive advantage by giving themselves more time to learn and optimize.
Abandon the eSignature - Learn how every department in your business can use clickwrap to its advantage. Download our eBook, 101 Ways to Use Clickwrap.