Four ways electronic contracts can benefit business - triSearch

Four ways electronic contracts can benefit business

Preparing electronic contracts

As technology continues to develop and the need for paper-free processes becomes more important, it’s essential to stay focused on the aspects of a sale you can improve on to help deliver clients a speedier outcome, one of which is by using electronic contracts.

On average, it takes between 66 and 77 days to sell a property in Australia. While there’s no avoiding the complexities of buying or selling a home, fast and smooth transactions are nearly always in the best interests of your client.

Here are some of the ways that using electronic contracts through triSearch could benefit your business with a more streamlined conveyancing process.

You can offer an improved client service with electronic contracts

With the ability to order a selection of eContracts through the triSearch website, you’ll be able to finalise documents much quicker than hand drafting hard copy contracts yourself; this includes inserting signature fields in any location that’s appropriate.

What’s more, electronic contracts can reach your clients the moment they’re ready via email, which is a much more convenient alternative to the traditional method of arranging meetings or ensuring contracts are securely packed and mailed.

And there’s proof that eContracts are a serious time saver; one firm reported to have reduced their contract preparation time by 90% using electronic contracts.

Increases business efficiency

There are hidden costs of preparing contracts manually – financial and time-related. By using triSearch’s eContracts service, you’ll eliminate a few business expenses such as paper, printing, postage and storage.

Saying goodbye to clunky and time-consuming manual drafting techniques means you’ll also win back some of your professional time for other more valuable tasks.

eContracts by triSearch will allow you to edit, import and rearrange documents electronically using smart PDFs while you can always reuse editable templates without entirely redrafting.

Even when your eContracts are finalised, it’ll also be much easier and quicker to locate important information because you can electronically search phrases and pages instead of sifting through paper files.

Minimises the risk of error with electronic contracts

One of the biggest benefits of electronic contracts is being able to take advantage of the automated processes that come with them.

With increased automation, conveyancers can reduce the likelihood of errors that might otherwise be caused by repetitive manual data entry.

With triSearch’s eContracts, information can be pulled from Title Searches and your Practice Management System which means no need for re-keying of data between screens and documents.

eContracts also means you can benefit from improved version control because even though you might make multiple changes to your electronic document throughout the course of a transaction, there will only ever be one version online.

This compares to generating multiple print outs or un-editable documents which can make it tricky to track and locate the latest version.

Increased level of security and peace of mind

Compared to physical paper-based contracts, it’s not as easy manipulate the information contained in an eContract – such as the terms or even signatures.

With paper, there’s always an outside chance that pages could be replaced with inaccurate versions or reprints could be doctored.

What’s more, unlike sending contracts in the mail or storing them in physical files, there’s much less chance of an eContract ending up in the wrong hands.

The movement away from paper-based processes and records has been changing the game across several industries for many years, but with so much sensitive legal information at stake, contracts have traditionally been more challenging to shift online.

You have chance to take productivity and efficiency a step further by making the most of eContracts by triSearch.

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