Every company, big or small, must have a contract. A good contract management system can mean the difference between managing those contracts effectively and ignoring important information that can cost your organization some operations. business. Choosing the best contract management software is important for this reason.
Even if you design, negotiate, and manage contracts properly, the process still takes a lot of time. You expose yourself and your company to common data entry mistakes, grammatical errors, and a host of other problems if you don’t have good contract software.
However, using the right contract management software can speed up the process, increase its efficiency, and reduce the risks associated with financial and other audits. These are just a few of the reasons why your company needs the best contract management software. In this article, we will introduce you to PandaDoc: The Ultimate Contract Management Software for Small Business
What Is Enterprise Contract Management Software?
Contract lifecycle management (CLM), another name for contract management software, is a tool for automating the creation, monitoring, and management of all contracts. The best contract monitoring software streamlines the process as it allows users to create, save, manage, reorder, edit and share complex corporate contracts.
This kind of platform is essential to business operations since it helps remove bottlenecks that could arise during contract negotiations in addition to eradicating errors.
Think of your contract management software as a part of your bigger toolkit for managing your business. You want it to be integrated with other technologies and simplified with the rest of your platforms, much like a CRM.
What Is PandaDoc – The Ultimate Contract Management Software for Small Business?
PandaDoc is an extremely cost-effective, all-in-one contract manager software that can provide organizations with access to a reliable and easy-to-manage document and contract management system.
You should definitely check out PandaDoc’s feature-rich, user-friendly software if you need something that can manage the complete lifecycle of a contract with relative ease.
The platform offers a lot of differentiating capabilities at your fingertips so it is definitely one of the more popular choices for many organizations. Just the tip of the iceberg with PandaDoc are features like document analysis, template embedding, multiple workspaces, Digital Signature software, payments, and content and image libraries.
PandaDoc includes all the collaboration tools you need, along with capabilities for automated workflows. There is no delay in results or sales as everything is electronic and automated.
Features Of PandaDoc
With the feature set that PandaDoc offers, it’s simple to become lost in the particulars. We’ll go over the main features and capabilities that make PandaDoc a potent software for contract management.
Document Organization
An important feature is an ability to accept digital signatures on your documents. So the PandaDoc sample page is where you start when you log into the program for the first time. (Unless you choose the free version, templates are not included.)
Documents you use frequently, such as sales proposals or invoices, are called templates. Once a document is set up as a template, it can be used repeatedly by your organization to collect signatures and other necessary data.
While creating a sheet of paper from scratch can take a bit of work, the final templates save time. PandaDoc responds to this with tools that make installation simpler.
To get started, you must upload a document or create one from scratch. To automatically populate the same required data in several places on the document, such as customer names, PandaDoc uses a feature called variables.
For frequently used document elements, you can set up a content library. Examples include cover pages or customer references.
Any field in PandaDoc can be customized, including the background color and font size. The whole paper is customized in this way. Add images, movies, and other information, such as a price list with a list of things to buy, currency, and discounts.
Digital signing
An important feature is an ability to accept digital signatures on your documents. So the PandaDoc sample page is where you start when you log into the program for the first time. (Unless you choose the free version, templates are not included.)
Documents you use frequently, such as sales proposals or invoices, are called templates. Once a document is set up as a template, it can be used repeatedly by your organization to collect signatures and other necessary data.
While creating a sheet of paper from scratch can take a bit of work, the final templates save time. PandaDoc responds to this with tools that make installation simpler.
To get started, you must upload a document or create one from scratch. To automatically populate the same required data in several places on the document, such as customer names, PandaDoc uses a feature called variables.
For frequently used document elements, you can set up a content library. Examples include cover pages or customer references.
Any field in this contract manager software can be customized, including the background color and font size. The whole paper is customized in this way. Add images, movies, and other information, such as a price list with a list of things to buy, currency, and discounts.
Tracking
The ability to track the status of papers delivered for signing is a feature of good e-signature software. PandaDoc offers a wide range of tools to track documents in great detail, much as other parts of the platform.
Documents are categorized by status on a dashboard. You can see which documents were read, which were signed, and even which are still pending payment. Drill down to a list of the papers in that category by clicking on a status.
Select a document to view and follow a recipient’s actions inside of it, along with an audit trail showing the dates the form was sent, viewed, and signed.
The in-depth document analytics provided by PandaDoc analyze down each recipient’s behavior, including how much time they spent on each page. You may utilize this information to determine where recipients spend their time and tailor your proposals and bids to increase the likelihood that your sales will close.
Integrations
As a typical component of e-signature systems, PandaDoc connectors deliver a rich offering with support for third-party business apps. Connect to document storage services like Dropbox and payment platforms like Square.
CRM software is commonly used by sales teams, and this contract management software enables you to connect to well-known CRM suppliers to speed up document workflows. Consider importing contacts from your CRM so you may select them as document signers right away.
Mobile App
The features of PandaDoc’s mobile app are shockingly few for a contract management software platform with so many. The company updated its document editing software, which resulted in a minimal reduction in mobile functionality beyond document tracking.
You can monitor a dashboard of documents delivered or received along with their statuses through the mobile app. A timeline displays actions taken in relation to your documents, such as who signed each form and when.
Although it is not possible to set up documents for electronic signatures using the mobile app, you can still sign documents that have been emailed to you provided they have been imported into PandaDoc using the desktop application. There is no option for document import via the mobile app.
Benefits Of PandaDoc
Easy To Use Interface
PandaDoc’s user interface is simple and clear, making it easy to use the app and perform basic digital signature operations. It does a great job at guiding the signer through the signing procedure.
Contract management software directs you to the points inside the document where you need to sign or complete other fields with other things, such as your initials.
The complexity of the PandaDoc functionality presents a problem. The platform’s scalability leads to a steep learning curve. Learning all of PandaDoc’s diverse skills takes time.
Due to the extensive features of this enterprise contract management software, it is very easy to lose or not locate what you are looking for. For example, you can add an approval step to your workflow to sign a document, but you must first authorize it in the template section.
PandaDoc nomenclature introduces another difficulty. The learning curve is accelerated by the need to understand technical terms like variables and roles, and the distinction between categories and content libraries.
Wide Range Of Prices
The starting price for PandaDoc is completely free. The number of digital signatures allowed by the free versions is often limited by competitors. PandaDoc challenges this trend by allowing for infinite document signing, making it one of the best free contract management software available.
When billed annually, paid plans start at $19 per month per PandaDoc user. Capabilities frequently used by sales teams are included in the next tier, which costs $49/month per user when billed annually.
The Enterprise option includes enhanced functionality, unique features, and access to PandaDoc’s API (application programming interface) for website integration. Although PandaDoc is not the most affordable digital signature solution, it offers a lot of functionality.
Support Of PandaDoc
PandaDoc provides support via chat and an online self-serve knowledge base, just like other e-signature providers. The self-serve support options are made up of articles, video lessons, and an IT ticketing system.
PandaDoc’s shift to a new version of its document editing software complicates your quest for self-serve assistance. Some features are exclusive to the current version, while others can only be accessed on the older version, known as the “classic editor” in support documentation.
As you become more familiar with the platform’s capabilities, you must sort among these variations.
E-Signature Abilities
The e-signature capabilities of PandaDoc are strong, and its features go beyond digital signatures to assist you in creating documents that are engaging. These characteristics are helpful for any business interested in improving materials used in client interactions and provide a clear advantage for sales teams.
The desktop version’s interfaces with well-known third-party software suppliers enhance its strong document workflow management capabilities. The document management toolset offered by PandaDoc nearly overshadows the e-signature feature because it is so well-rounded.
Software Beyond E-Signatures
PandaDoc stands out in the e-signature market thanks to its approach as a comprehensive document management platform. Although its desktop version is a strong tool, if your company only requires a basic e-signature solution, it’s overkill. The opposite is true with its mobile app, which offers less functionality, especially for mobile teams.
Depending on what you need from your e-signature software, PandaDoc may or may not be the best option for your company. Because sales teams need documentation that make them stand out, PandaDoc is the best option in this sector.
Companies without a sales crew, however, can benefit from PandaDoc as well. Before upgrading to a subscription plan, use its free version to get a sense of how well it can fit your needs.
