Managing contracts can often feel like juggling too many projects at once. Deadlines, tracking, and obligations can easily slip through the cracks, causing unnecessary headaches for your team. As you know, it’s vital to keep a record of key information, such as nonstandard contract clauses, payment terms, renewal dates, and conditions, within every agreement. Poor contract management can have lasting effects on a business. In fact, poor contract management can cost businesses up to 9% of their annual revenue each year, according to recent research by the International Association for Contract ..read more

Have you ever gotten trapped in a situation where you needed to explain elementary concepts, and when you tried to put them in simple terms — bam! — you hit a mental roadblock, realizing you didn’t get the essence of the “obvious?” When you’re speaking about your sales process and its steps with your sales team, which term do you use: “Sales pipeline”, or “Sales funnel”? Do you begin to feel uncertainty just now? Let us help you dispel these doubts. In this article, you’ll discover unambiguous definitions of both terms, as well as their goals and benefits. Let’s go! The difference between a sa ..read more

A sales and purchase agreement (SPA) is a legally binding contract between a buyer and a seller that covers the terms and conditions for the transfer of real estate ownership. Also referred to as a purchase and sale agreement (PSA), the document is signed after a buyer and seller agree on the price of a real estate transaction. It outlines contingencies and conditions to be met as well as the closing date — the date when a real estate purchase agreement (not to be confused with a PSA) is executed to finalize the sale. Signing an SPA places the parties under contract regarding the sale of a pro ..read more

Onboarding is a crucial phase in the employment lifecycle. A smooth, efficient process not only makes new hires feel welcome but also sets the tone for their entire tenure at your company. It helps integrate newcomers into the company culture and can significantly reduce the time it takes for them to become productive. Without a smooth onboarding process, new hires may feel less confident in the company as a whole. In fact, one out of five new hires exit within the first 45 days of a new role.1 Managing onboarding tasks in one place can help ease the transition for new hires and bring more tim ..read more

With every new hire, compiling the necessary paperwork and designing new offer letters can be time consuming. Having a proper offer letter for each candidate enhances the new hire experience and helps determine how a candidate will feel as they consider your company. In order to personalize and fine tune each offer letter, many HR professionals are losing time during their day to create them from scratch.  In fact, on average, HR professionals spend an average of 30 minutes on each offer letter.1 As with any department, it’s crucial to your business success that your processes allow for m ..read more

Data collection is the backbone of HR operations. From onboarding new employees to tracking performance, accurate data is essential. But traditional methods often involve piles of paperwork, which can be time-consuming and prone to errors. Did you know that up to 42% of HR managers don’t capture onboarding information electronically? According to CareerBuilder, these managers spend up to three hours or more per employee manually processing onboarding information. With PandaDoc Forms, HR managers can flip the script on data collection, build employee satisfaction surveys in minutes (not hours ..read more

As a manufacturer facing a hyper-competitive market and the ever-changing demands of your customer base, we’re certain you don’t want to wait for prospects or established customers to tell you directly what they want and need. You can’t afford to! You require access to a tool that manages customer interactions and provides real-time data on leads, sales forecasts, actual sales and service, and aligns all ops to help you make accurate predictions on products most in demand in the upcoming months. This is where dedicated CRM (customer relationship management) software tailored to the needs of th ..read more

Sales order vs invoice? That is the question. If you’re in an organization that buys or sells things regularly, you’re probably familiar with the terms “sales orders” and “invoices.” Knowing the difference between these two terms is crucial if you want to make sure your business runs smoothly. That’s why we’ve put together this comparison guide, including invoice and sales order definitions, examples, types of sales orders vs invoices, and tips for creating sales orders and invoices. Key takeaways Sales orders are used to track purchases when a customer requests a purchase. Invoices are used ..read more

Clawback agreements are a risk management mechanism that guarantees equitable resolution in the event of unfair business dealings. They offer a legal route for companies and investors to recover money and, as such, are a key part of many business contracts today. Key takeaways Clawback agreements allow companies to recoup financial rewards if a partner fails to meet agreed-upon conditions or engages in misconduct. These agreements are enforceable by law, provided they are clearly defined in the contract. The enforceability of clawbacks hinges on clear evidence of misconduct, failure to meet p ..read more

Local negotiated rates, or LNRs for short, are competitive rates that hotels negotiate with organizations to encourage them to book rooms for their business travel needs at the same establishment, year after year. It helps hotels get companies’ repeat business and improve their occupancy rates even off-season — and it enables organizations to get better rates than the ones available to the public. Key takeaways LNR, or local negotiated rates, are discounted rates that hotels negotiate with organizations to get more predictable bookings. To make full use of LNR to boost their sales, hotel mana ..read more