Avoid these mistakes to keep your company and customers happy:
1. Not being strategic about where legal agreements live
Creating and approving a SaaS agreement, or any agreement for that matter, is a multi-faceted task. Contract creation must pass many sets of eyes before it is approved and signed. You wouldn’t let your business’ revenue sit out anywhere, would you? Of course not; it goes straight to the bank. The same should be for your legal content--you need a safe repository for all of your agreements. Find a way to manage contracts so that all agreements, versions, and redlining is straightforward and organized.
2. Publishing agreements slower than necessary
Building agreements within multiple inboxes and amongst numerous editors is unorganized and frustrating. Worse than that, it slows down contract publishing rates significantly. The longer it takes to finalize contract contents, the longer it takes to get those contracts signed. Software services are fueled by returning customers; contract management is a crucial component to speeding up this process. Before customers can sign in one click, they must have an actual agreement to sign.
3. Making online acceptance too hard
How do your customers accept agreements? Hyperlinking to terms at the bottom of your page isn’t enough. How do you close deals? All it should take is sending an email prompting parties to review and accept agreement conditions with a simple eSignature. If it’s difficult, it’s wrong.
4. Not keeping accurate records
An important key to your company's future success is keeping accurate records of your business. Knowing who has agreed to which versions of an agreement and when are details companies easily overlook and shouldn’t. There is no time to be unorganized or unprotected.
5. Failing to acknowledge provisioning
If changes are made to agreements that customers have already accepted, there must be ample notice before newly provisioned documents are enforced. Don’t let hard work go to waste by failing to nurture your product. Software as a service companies are at unnecessary risk when legal agreements aren’t implemented or managed properly.