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Why is every salesperson’s number one dream not yet reality? Why isn’t it possible to sell in your sleep?
After all, not every transaction needs a sales rep. For savvy, tech-driven sales teams, riding the self-service wave, taking out the “middleman” has inspired a lot of improvements to take place across traditional contracting and deal acceptance processes.
That said, deals involve more than just salespeople. Many companies are hesitant to remove legal’s contract responsibilities from the fold – even if their micromanagement causes bottlenecks that cost you valuable time, money, and potentially the deal itself
But it doesn’t have to be that way. By implementing a Clickwrap Transaction Platform, you can satisfy your legal department’s compliance needs while giving yourself the best possible chance to shorten sales cycles and upgrade your B2B sales strategy.
Related Content: What Is A Clickwrap Transaction Platform?
For several years, companies in pretty much every industry have been establishing their digital storefronts. While the pandemic certainly accelerated this trend, the truth is online business has been growing for several years now – and sales professionals have evolved to cater to evolved customer demands.
Today, facilitating online, self-service-based interactions isn’t optional – it’s a must-have feature that buyers have come to expect. Products and services have never been more accessible. And that means consumer demand is no longer limited by time or location. We’re living in the world of anytime, anywhere buying.
WATCH: PACTSAFE FOR LEGAL-APPROVED SALES READY CONTRACTS
While this creates a lot of new and exciting opportunities for savvy sales experts like you, these digital-centric demands also come with a set of never-before-seen challenges. In order to take advantage of the online sales channel, your business needs to be able to process more customer agreements, terms, and conditions than ever.
So, are you sure your organization’s B2B sales strategy can keep up? If not, your company could be in for a rude awakening.
Recently, Aragon Research defined a new category of software called – you guessed it – Clickwrap Transaction Platforms. These next-gen contracting solutions give an organization one place to create, deliver, manage, track, and archive every online term and condition associated with a specific transaction.
A Clickwrap Transaction Platform (CTP) is purpose-built to speed up and simplify high-volume, online agreements that don’t require any negotiation. This is unlike Digital Transaction Management (DTM) tools that serve only as point solution - i.e., solving a single problem (eSignature) in the entire transaction. CTP technology is designed to upgrade your B2B sales strategy by transforming digital purchases processes and transactions into one-click acceptance experiences (while keeping you secure), giving you the ability to shorten sales cycles and satisfy consumer demands.
Download the Aragon Research Report: The Rise of Clickwrap Transaction Platforms
As eCommerce adoption continues to surge, the majority of online agreements you use will feature standardized, non-negotiable terms to close high-volume, low-value deals like Sales Order Forms, NDAs, Renewal Notices and others.
Clickwrap Transaction Platforms enable fully automated workflows using a content management engine that powers every digital transaction. That way, there is no deal-killing wait on approval of the terms you need to present to a large volume of buyers.
As it stands, there are three primary use cases where a Clickwrap Transaction Platform delivers maximum ROI:
Digital Transaction Management (DTM) is an effective solution for electronic signing. But automating your digital B2B sales strategy can’t end there if you want to sell in your sleep. DTM is only focused on getting your business through the first step of digital transformation: moving your contracts from paper to the computer.
Unfortunately, that’s where DTM’s value ends. It addresses a very specific need and a singular aspect of your online sales goals, but that’s it. That’s all you’re going to get.
Clickwrap Transaction Platforms, on the other hand, is a much more comprehensive product. It’s a system that centralizes all of the agreements and legal content you need. And that delivers more flexible agreement delivery methods, shorter sales cycles and streamlined approval processes, and better insight into what makes your buyers accept your organization’s terms.
Image showing differences between Clickwrap Transaction Platform (CTP) and Digital Transaction Management (DTM)
Through robust automation capabilities, a CTP also elevates B2B sales strategies by eliminating a bulk of the manual work you do creating contracts, tracking changes, and verifying customer acceptance – saving you a lot of time and effort.
These solutions accelerate online transaction because they move away from outdated PDF-based agreement workflows and replace them with clickwrap agreements. While this may not sound like much, this makes Clickwrap Transaction Platforms the ideal solution for maintaining deal momentum so you can spend more time doing what you do best: selling.
Plus, sales isn’t the only beneficiary. Your legal department can use a Clickwrap Transaction Platform to create standardized agreements that dynamically populate terms based on individual buyer needs and the products/services they’re purchasing. That means legal can be certain the proper agreements are being used (without any involvement themselves) and you don’t have to spend your days going back and forth with them to finalize a deal.
Before partnering with PactSafe, a company in the midwest didn’t have a way to ensure that third-party resellers were presenting their customers with the organization’s current set of legal terms and conditions. Because that company works with thousands of partners all over the world, updating terms and rolling out new versions to every reseller is a time-consuming process that comes with serious potential consequences if anyone is missed.
Simply put, it was a struggle to satisfy the legal team’s requirements – and almost impossible for the sales teams involved to navigate all of the bottlenecks to close deals in a timely manner. Thankfully, today is a completely different story.
After implementing our Clickwrap Transaction Platform, that company immediately empowered its legal team by giving it the tools to directly manage and publish all of the organization’s online terms and agreements. Now, terms are updated once from a centralized, secure software portal before updates are pushed out to all relevant agreements, resellers, and customer acceptance touch points with a single click.
The contract acceptance process has become the most easy, frictionless part of that company's sales cycle – giving its sales reps more time than ever to find new opportunities and sell around the clock.
By using a CTP to manage every document related to an online transaction, you are able to automate most of your wieldy sales processes. You will be able to offer self-service buying experiences - whether you're B2B or B2C - which increases your sales velocity because you do not have to be physically present (or even awake) to make a sale.
Learn more about Clickwrap Transaction Platforms in our eBook, The Definitive Guide to Clickwrap Agreements.