There are plenty of tech innovations out there that only help a certain kind of business – usually, a bigger one. A small business does not have an IT team to deploy complex solutions or a capital expenditure budget to fund them. But small businesses DO have what it takes to use electronic signatures and take advantage of the cost savings the larger players are getting.
VacationRentalPros.com is one example of a small business with big ideas about using technology to streamline processes, save money and improve customer service. The rental property management company works with about 200 homeowners in Florida to rent out their condos and houses to vacationers. That’s a contract-intensive business, and VacationRentalPros.com juggles about 100 to 150 agreements each month among independent contractor employees, property owners and renters. The company had relied on mail, fax and e-mail to get those contracts signed, but the lag time was excessive – as long as two weeks to get a signature in hand.
The property rental company adopted Adobe EchoSign, attracted by our “a la carte” pricing and Web-based service. Since then, VacationRentalPros.com has estimated they have saved more than $13,000 per year in postage, printing and toner cartridges, storage space and process automation. Additional savings come from the estimated 90 percent time reduction in manual processes for post-sales follow up.
Small businesses in many other industries are seeing similar results. For example, MomTrends Founder and Editor Nicole Feliciano uses e-signing to close more deals, faster. As part of her blogger outreach program, Feliciano uses Adobe EchoSign to deliver contracts electronically, automate signature requests and reminders, and store virtual documents for easy access. Essentially, Feliciano moved her entire contracting process to the Web, and that decision has helped her focus more time on her core business tasks.
GW Truck Insurance Services, a California-based provider of commercial trucking insurance for small to medium-sized trucking companies, has also seen significant success using Adobe EchoSign. The company uses e-signatures to process insurance applications and authorize coverage for its customers online, which has significantly reduced time spent managing contracts. In addition, GW Truck Insurance Services uses Adobe EchoSign for billing and credits the automatic reminder feature with helping it get paid faster.
Big business has access to plenty of technology initiatives that are out of reach for smaller companies. E-signing is an exception. With no downloads or installations required, companies can choose free or low-cost options to move to legally binding, efficient Web-based contracts that reduce sales cycles by as much as 400 percent.
Jason Lemkin, VP of Web Business Services, Adobe.