Mar 19, 2021
Streamline your contract processes and free up time for more business
The pace of digitisation has increased rapidly in recent years and the pace increased even more last year, if possible. Today, both customers and employees expect smooth and simple processes and speed in handling contracts. Most people no longer have time to wait days or weeks for a signature. It should be fast, smooth and secure.
You've probably already thought about how you can streamline your contract processes to free up time for more business or development. Getting that final signature is often an unnecessarily lengthy process that can be done much more smoothly with today's digital solutions. In many organisations, the process may first involve multiple internal signatures and approvals, and then having to scan or send documents by post or email to the next person. There is great potential here to create a more seamless and digital process to avoid bottlenecks or the contract simply getting stuck along the way. Avoiding unnecessary stops in your contracting process can help increase revenue as well as significantly reduce stress and anxiety internally.
For more than 15 years we have been supporting clients in streamlining the contracting process and a large proportion of our clients are now in the real estate industry. The business value of digitising contracts and signatures may vary for different organisations, but common to all our real estate clients is the time savings they have made.
For contracts that are sent frequently, such as parking space rental, this time saving has been very valuable. Digitising the contracting process for these recurring contracts has led to both increased customer satisfaction and less administration for staff. The production flow has become more efficient and the staff has much better control over the contracts.
Digitising the contracting process can mean a change in the way we work and can raise some concerns. That's why we've outlined below two of the most common questions our customers ask about digital contracts and signatures.
Are digital contracting processes really secure?
The first thing many people think about is the security and legal aspects of digital contracts and signatures. Is it really safe to sign contracts electronically and are the contracts legally binding? The answer is yes to both! All contracts signed in our solution are legally binding, contracting parties are securely identified with their own BankID and documents are stored on your terms, in your own archive. This ensures compliance as well as the highest level of security.
It is understandable that security in a digital contracting process is an important parameter. There are high demands on the handling of data and personal information in organisations using these solutions today. Therefore, you need to choose a solution that meets at least the following security requirements:
- Ensures compliance with the eIDAS Regulation as well as the GDPR.
- Ensures that the authenticity of electronic documents can be verified by a third party.
- If it is a cloud service, you need to know whether the information is stored in the EU or in a third country.
- Ensures that all relevant communications can be encrypted.
What will be the time savings with digital contract processes?
With digital contract management and electronic signatures, you can shorten the contracting process from days or weeks to just minutes. You upload the contract to the portal and send it to the recipient, who can sign it at the same time. You simply eliminate the lead time associated with traditional contract processes.
In addition to the time savings, you get full traceability for all contracts. You can track all activity from the moment you send the contract until the customer opens, signs or declines the contract. You receive notifications of various activities in the process and can act immediately if necessary. Finally, you don't have to think about archiving, which is usually a manual and administrative task. You choose how long you want to store your documents in the solution and have everything in one place without any manual filing for each contract.
5 benefits of digital contract management
The trend is clear - one-click contracting attracts both large and small businesses. Large volumes are no longer required to make electronic contracts an attractive solution. This type of service can make life easier for all types of companies and organisations.
Here are five concrete benefits of digital contract management:
- Control: you gather everything in one place so nothing gets lost.\
- Safe and secure: 100% legally binding contracts and higher security with BankID identification.\
- Traceability: ability to track all contracts, from customer opening to signature.\
- All in one place: you manage all your contracts in one portal and have access to them whenever and wherever you need them. This creates flexibility for remote working, for example.\
- Save time and work more efficiently: you minimise manual intermediate steps and create a more efficient process with no lead times.
Contact us and we'll find the solution that suits your needs.Contact us