Closing a contract: challenges and tips to speed up the process

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If every job has its good and bad sides, we can say that the bureaucratic stage of the sales process is not the best part of the sales routine. Above all, salespeople really like to sell. Therefore, when the time comes to close the contract, it's a real rush: confirmation of the contracted services, gathering customer information, signatures, sending to the finance department, and so on!

Not only is it a slow, reworkable and bureaucratic process – a challenge for those who are good at negotiating – the time spent closing the contract can harm sales targets . After all, if your salespeople spend time finalizing a contract instead of focusing their efforts on new proposals, this means that your company may be losing sales !

If you've noticed that the sales team's productivity isn't adding up, keep reading because in this article we'll list the main time-wasters when closing a deal and present some of the techniques you can put into action to speed up the final stage of sales.



Understand what contract closing is
The closing of a contract is the moment when everything that was negotiated during a long negotiation process between the seller and the buyer is formalized. This closing represents, as a result of much dedication bahamas telemarketing data and effort, the realization of the central objective of every business: the sale.

Without a doubt, the moment of closing a deal is the highlight of the sales process for any salesperson. It means that all the effort was worth it and was rewarded, as well as showing that the sales strategies were effective and assertive.

Challenges of closing a contract
Your company has certainly already mapped out the entire sales process , but most of its attention is focused on conversion – when the negotiation game actually happens. But what support is given to the team once the sale is finalized? At this point, it is common for responsibilities to be divided, which tends to worsen the sales process.

Collect signatures, forward the contract to the finance team, enter the information into the CRM , inform the technical team that they will be dealing with the new client… Phew! Sometimes, a salesperson has to postpone meetings with other prospects because the priority is to deal with the newly acquired client.

When everything happens in a fluid workflow, it's not so bad. But what happens when the client doesn't send the information to be included in the contract or takes a long time to return the signed contract? Once again, the time that could be dedicated to negotiations can be spent sending reminder messages and checking whether contact attempts have been answered.

With so many challenges, the question remains: how can we speed up the signing of the contract? Below, we have listed some tips that can help you organize your team's sales process.

Tips to speed up the closing of a contract
Man and woman hold hands representing the closing of a contract.

1. Invest in electronic signatures
Do you already use an electronic signature tool? If not, finish reading this article and get one right away – there are options for all tastes and budgets: ClickSign, DocuSign and Do4Sign are the best known.

With people using the internet to purchase products and services, electronic signatures have become essential for closing contracts. The benefits are obvious: saving time and money, no paperwork, and the same legal validity as a conventional contract.

2. Use CRM to your advantage
Organizing the platform used in sales management to collect strategic information for contract construction has two benefits. On the one hand, it optimizes contract creation and, on the other hand, it increases the sense of responsibility in correctly filling out the CRM.