Are you tired of waiting for signatures and payments on your manufacturing contracts?
Manual customer approval chains slow down production timelines and delay procurement, scheduling, and delivery.
A one-step esignature and payment workflow can eliminate a patchwork system for approvals and speed up deals.
Here’s how having documents, signatures, and payments in one esignature software can help you handle contracts for manufacturing and get to work faster.
The Real Cost of a Delayed Signature
When a contract approval takes too long, it has negative impacts on business (both in your office and with customers).
Some of the most impactful issues that come from a slow reviewing and approval process:
Missed deadlines
It shouldn’t take a long time for customers to sign manufacturing agreements, review purchase orders, or pay.
A long contract process leads to missed delivery dates and broken schedules. And when your company is unreliable, you hurt your reputation.
Slow, unstable cash flow
Many businesses wait for slow or manual processes, or send manufacturing contracts and payment requests in separate messages.
Usually, companies stick to a process like this because that’s just what they’re used to.
However, most customers expect an easy electronic signature process to read terms and conditions or sign a contract approval and pay.
When you don’t include all these tasks in one workflow, customers put off paying or forget.
These unpaid orders hurt your cash flow and make it hard to predict how much money you’re bringing in.
Keep cash flow predictable and healthy with an all-in-one signature and payment workflow.
Disorganized, frustrated teams
When your processes are scattered, your team will be too. Better organization is a huge advantage of keeping documents, esignatures, and payments in one place.
- No more frustration from sales, logging into several systems
- No more manual follow-ups to keep customers on track
- No more confusion in operations
- Easier reconciliation for finance teams
Why Traditional Contract Approval Processes Are Too Slow
Old processes work too slowly. Companies may use paper manufacturing contracts or a patchwork of inefficient systems to get a signature and payment.
In an age where customers can easily find competitors online, you can’t afford to drive them away with inefficiencies.
Manufacturers who don’t leverage technology will lose out on business due to delays. Here are the top three contract approval processes that delay or kill deals.
Paper-based mail or PDF-based email workflows
Sending contracts by mail is old fashioned. It is slow, inconvenient, and costs your company more for postage and printing.
On top of this, sending contracts in the mail makes it hard to track a customer’s progress from receiving to signing.
Fewer companies these days rely on the mail for signatures but too many still email a PDF for customers to print, scan, and send back.
While it’s faster to send a PDF contract than paper, it’s still slow, and creates more work for your customers.
Any time you make signatures and payments harder to complete, you run the risk of high abandonment rates.
Disconnected esignature and invoicing tools
Using too many software tools is a common business mistake. Manufacturers who want lower office overhead should find ways to combine processes—not buy separate software for every step.
If your company pays for one digital signature software and another to take payments, your contract approval process is disconnected (and probably costs extra money).
Administrative burden from manual follow-ups
Manual follow-ups are another way companies delay their own deals. Your business shouldn't rely on manual staff follow-ups for your manufacturing contracts.
Your software should offer automated reminders to give customers a nudge before a signature or payment request expires.
Speed Up Manufacturing Contract Signatures With PDCflow
So how do you fix the delays that are costing your business money and time? Here’s how PDCflow speeds up contract approvals and simplifies work for your staff.
- Signatures and payments: PDCflow secure messages let you send a contract and request a payment in one step.
- Automation: PDCflow comes with automation features like automated reminders that encourage engagement and reduce turnaround time.
- Tracking: PDCflow offers event notifications and in-depth reporting for easy contract tracking and business trend monitoring. Stay ahead of delays and improve processes long-term.
Carlisle Wide Plank Floors: Before and After PDCflow
PDCflow customer Carlisle Wide Plank Floors manufactures high quality, wide plank flooring for customers and businesses.
Before PDCflow’s Flow Technology, Carlisle was using two separate vendors—one to send a contract for signature, and another to collect a deposit.
The Results
Carlisle began using PDCflow to request a signature with down payment in one digital workflow. Combining both halves of the process:
- Eliminated the need for separate software vendors.
- Simplified reporting, keeping track of both parts of the workflow in one place.
- Reduced the need for manual follow-ups for those who only complete one half of their transaction.
- Decreased the time and effort spent training staff to use their software.
PDCflow’s Contract and Payment Solutions
PDCflow works well for manufacturers because it eliminates delays. Your company can combine multiple processes, collaborate with team members, and collect payments and signatures faster.
PDCflow comes with:
- Native payments: Payments are built into our system. With no plugins, access better functionality and cohesive reporting all in one place.
- Email and SMS: Send secure messages to customers in minutes through the channel they prefer.
- Multiple documents: Send up to five documents in one message to include any contracts, disclosures, or terms of service.
- Multiple recipients: Send requests to multiple recipients. Control signing order.
- Status tracking: Get automatic email notifications as your customer moves through the process for easier contract tracking.
- Reporting: Get an overview of company performance overall, or drill down to individual transactions for detailed information.
- Easy for customers: Mobile-friendly and simple for recipients receiving your requests to navigate.
- Fast implementation: Easy set up and free training from our award-winning Customer Success team.
Is your company tired of waiting on signatures and deposits? See how you can reduce turnaround time and secure revenue faster with PDCflow.
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- ABOUT THE AUTHOR -
Hannah Huerta, Marketing Specialist
Hannah Huerta is a Marketing Specialist at PDCflow. She creates content for the accounts receivable and payment industry.
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