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E-Signing Tools: Can I Get Your John Hancock on That?
February 15, 2008
EchoSign, an on-demand online e-signing tool, allows reps to reduce sales process turnaround and managers to track performance.
By Stacy Straczynski
Meeting the client? No problem. Pitching the product or service? Piece of cake. But then the hard part—closing the deal—which means valuable time lost waiting to get contracts signed. Stop losing time and boost your reps performance with EchoSign.
Palo Alto, Calif.-based EchoSign is a Web-based e-signature service that's specifically designed with the sales professional in mind. The service automates the basic processes of sign, track and file to reduce the normally lengthy agreement process. On average, EchoSign has cut contract turnaround to only 42 minutes. That's a great time-saver, especially when recent Aberdeen research says sales reps normally spend 18 percent of their time—a whopping 16 days out of every 90-day sales cycle—dealing with contract creation.
"We are focused on accelerating sales," says Jason Lemkin, CEO and founder of EchoSign. "The reality is every product is expugnable…if you can close fast, you'll not only make money, you'll make customers."
Lemkin continues to detail the product as having two main types of user-friendly, Web 2.0-based functions—"Echo" and "Sign." "The 'Sign' is how we lure users in and the 'Echo' is how we lock in the account," he says.
All About Allure
The "Sign" aspect focuses on shortening the sales cycle by means of e-signature. The module allows for visual document imaging, contract review and e-mailing, making contracts easier to produce and get out the door to the clients. EchoSign also automatically attaches the imaged documents as PDFs in Salesforce and other sales-based software. Clients then receive their contract in minutes and can quickly give their e-signature—or decline notice—and e-mail or fax the contract back.
And EchoSign's latest product release, EchoSign 3.0, which was created to handle more complex work flows as easily as EchoSign, takes the "Sign" aspect to the next level. The product's new MegaSign tool lets users create and mass send agreements to upward of 1,000 clients. The one-click send capability tracks multiple employee signatures, sends clients e-reminders to sign and produces audit reports.
The Rest is History
EchoSign's second function, the "Echo," allows for easy tracking and monitoring of the contract process. Reps have access to a full log history, which records when:
• The document was made,
• The contract was signed by the rep
• The contract was sent via e-mail
• The client opened and viewed it, and when
• The contract was accepted and returned, or rejected for negotiation.
Managers are then able to track their team's performance by viewing these documents in the history log with ease, whether their sales forces total two or 3,500-plus. All contracts are fully searchable and sorted into completion categories—such as signed by rep and sent out—for convenient referencing.
Managers, like sales reps, also have more options with the new EchoSign 3.0. The service's real-time analytics dashboard allows managers on-demand access to their team's status and a new customization feature can track performance across multiple departments. On-demand charts and stats include metrics on the number of open and closed deals, percentage of signed agreements, individual staffer performance and average minutes until signed.
"[EchoSign] is the only tool from a vertical perspective that focuses on sales," Lamkin says. "There are other electronic signing tools out there, but none are simple—and you need simple to help the sales process."
For more on EchoSign and it's pricing, or to try a free demo, visit www.echosign.com.
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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