Why Your Contracts Are Not Working and How To Fix Them! Ever ask yourself why your contracts are not working and wondered how to fix them? Jason Kren is the man with the answer to that frequently asked question. Sales people want nothing more than to see their contracts and deals turn into a close. Unfortunately, there are times when the inefficiency of getting contracts signed can delay income or prevent a closing all together. How can you make this process more streamlined so this doesn’t occur? Jason Kren’s company PactSafe could be the solution you’re looking for. PactSafe is a company that was built from the ground up. They manage clickwrap contract acceptance at scale. This means they have the ability to manage millions of clickwrap contracts at a super high velocity. An example of this type of contract is illustrated by Disney+. The company recently launched its video streaming service and opened with 10 million subscribers in the first 24 hours of launch. At the end of the sign-up process is a contract that states the terms and conditions of the service that users are getting. These contracts are often the highest valued contracts that a company’s legal department manages on an annual basis. Jason’s company takes this type of contract and utilizes the PactSafe platform. It’s a quick wrap embedded contract and once it’s accepted, the platform will track the version that’s accepted. Using the platform, they can track the time when the contract was accepted and who accepted it. PactSafe can also reproduce what the contract looks like on an individual screen and know whether the contract is downloaded on a mobile device, computer, or tablet. In terms of sales contracts, this platform makes things run smoothly. With just one click, users have signed a legally binding agreement. In the sales application, this same type of contract and platform can be used to speed up the process for sales. Making contracts easier to understand Sales people and legal departments can partner together to make a contract more user friendly and understandable to the customer so closing is easier. The first step is for sales leaders to talk to the legal department about contract design. This includes the language used in the contract, down to the words and phrases, so the contract is easier to accept and lessens the points of negotiation. Ultimately, this removes friction from every step. Moving toward a standardized contract in the contract design includes multiple components that should have the end result in mind. Efficiency and speed of acceptance by the customer is the goal. These contracts are often in order forms for upsells and cross-sells within the organization. Adopt a standardized language A key area to review when moving toward a standardized system for contracts is reviewing the areas that don’t need to be negotiated each time. These areas can already be written and in place each time. Contracts such as these are better for the customers and for the salesperson. While the legal team handles the design of the contract, it’s the sales team’s job to change the language used in presenting the contract to the customer. Most salespeople today are still using archaic language when talking about contracts. An example is “I’m going to send you the contract and once you’re done reviewing it and signing it, we can start.” You want to streamline the process. Sending the contract over for a potential client to dictate the turnaround time can lead to a delay in closing and waste time. With a new design the approach changes to “The contract is ready to go. I’m going to send you its link so you can click on it and we’ll get started.” It eliminates having to talk about the contract and you’re sending the terms they just have to accept. That little shift in your language can increase velocity and...

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