Contract negotiation is an essential process for any business. Whether this is a legal agreement between two companies or between a business and a customer, there is some kind of document that needs to be discussed. Negotiating the contents of the contract is the first and one of the most crucial steps in reaching any agreement. A few decades ago, people had to go through this procedure manually, which had numerous drawbacks. Luckily, businesses can simplify contract negotiation process nowadays thanks to specialized software and platforms like airSlate. Read along to find out about convenient contract negotiation using online document editing and sharing.
What does Contract Negotiation Mean?
This is a business process that involves two parties working on the contents of a legal contract. The objective of such negotiations is to ensure that both companies or a business and its client are satisfied with the conditions and they are equally beneficial to them. Minimizing the risks for both sides is also important when negotiating agreements. This procedure often involves making compromises in order to find a balance and leave both parties satisfied.
The Classic Contract Negotiation
Traditionally, both parties involved in contract negotiation would have to arrange a few meetings in real life, discuss the matters over the phone multiple times, as well as mail out the edited copies of the contract. This process was extremely lengthy, tedious, and inefficient a few decades ago. Here are some drawbacks of negotiating contacts the old way:
- Poor customer satisfaction – clients want to handle all documentation as quickly as possible. Failing to provide fast and efficient communication will be disadvantageous;
- Legal issues – even the simplest contracts contain a few pages of crucial information. While modern software allows tracking changes and various errors, manual work often resulted in human errors back then. The smallest error or misread information can result in legal issues;
- Lengthy and expensive process – working through each paragraph of the contract and making amendments was time-consuming and expensive for both parties.
This is why modern companies use specialized software to streamline their contract creation and negotiation processes. The latest program and platforms for working with business documentation allow creating files like DOCX, PDF, and more, as well as automating their creation and pre-filling.
Digital Contract Finalizing with airSlate
Numerous modern businesses benefit from using special software that allows working with documentation efficiently. When it comes to contract negotiation, a lot can be done to facilitate the process and automate it where it is possible. Here is what you can do to simplify the process of contract negotiation using airSlate:
- Using PDF templates for creating new contracts – it is extremely convenient to use already existing files to create new contracts from them. These files and contact templates can be integrated with a range of platforms and cloud storage solutions for convenient access;
- Creating designated fields – in each document, it is possible to create editable fields. This allows leaving the crucial data untouched and leaving only necessary fields accessible for editing. It is also possible to assign different fields to specific users. This way each employee will be able to only edit their designated field in a document;
- Incorporating bots – it is convenient to use a no-code bot for a specific task that concerns document creation or editing. Bots can be useful for notifying about amendments made to the contact, deadlines drawing near, or changes in the status of each document;
- Offering automatic payments – an important step toward simplifying and speeding up contract negotiation is allowing making convenient payments. Include invoices, payment forms, etc. in your workflow.
Another powerful tool that speeds up the process of contact negotiation is efficient and fast document sharing. With airSlate, it is possible to share files in a few effective ways:
- SMS sharing – in case you need to receive a signature on a document, you can send it for signing using SMS. You can send it once or create a template for future use;
- QR codes – using QR codes is extremely popular nowadays as it allows immediate access to a variety of services. Provide a convenient code for your clients and business partners to access contacts that require signing within seconds;
- E-mail – the classic method involves sending contracts via electronic mail.
These are a few of the most popular software features for efficient contract negotiation.
Editing PDF Files
PDF is one of the most widely used formats in business. You can create files and turn them into contracts using Adobe products. However, using airSlate allows working with PDF documents conveniently without purchasing and installing Adobe programs on your device. Cloud solutions and easy access to airSlate platform online allow everyone to work on these files effortlessly. It is possible to create brand new PDF documents, add fillable fields, turn them into contract templates and many more. Document sharing and streamlining the whole process is extremely efficient and quick now.
