PandaDoc Blog

Goodbye payment delays, hello speedy transactions

Sales tips 3 min read

Hey frustrated salesperson, I feel your pain.

“This is ridiculous,” I muttered under my breath.

I was six hours into designing a proposal for a prospect, and this little document was taking a toll on my patience.

PandaDoc co-founder, Sergey, sat across from me and smirked.

“There has to be a better way to close deals. This process should only take one week. Instead, I have been trying to get paid for two months,” I shook my head in frustration.

“Maybe we can create a solution for this problem,” Sergey said.

That is when PandaDoc was born.

I learned pretty quickly as a small business owner and as a salesperson that the steps between proposing and closing can be:

  1. Unnecessary
  2. Inefficient
  3. Super annoying
  4. Downright painful

This, to me, was unacceptable.

We live in a world with Amazon’s one-click ordering and same-day deliveries.  Yet, the B2B economy runs on paper documents.

It sounds insane, right?

That’s because it is!

So, my goal with PandaDoc was to say goodbye to clunky sales transactions and farewell to paper documents!

Because after all, static documents are dying.

And, in their place is the birth of the dynamic deal.

Close deals and get paid

Have you ever stood in line at the bank with a check in your hands?

Or, better yet ﹣ have you ever lost a check that a client sent you?

I have. And it totally sucks.

Small businesses rely on a limited number of resources to get a lot done. Often, projects require multiple payments from the same client, and being able to collect that money instantly is critical for the success of your business.

And from the client’s perspective, wouldn’t it be more convenient to sign a proposal or contract from their computer or phone and then make their payment right then and there?

Because that’s how we expect to shop in the B2C world.

But, nearly 50% (or $7.3 trillion) of B2B sales are still conducted manually.

Close_deals_and_get_paid

One of our goals is to shift away from static, document-fueled sales processes into a dynamic, living-breathing deal. Because a deal is something that changes minute-by-minute, shaped by informed buyers and sellers.

We believe the days of relying on a free-floating, stagnant document (that gets lost in an email thread) are over. In other words, we want to fully automate B2B sales transactions, change how documents are handled, and accelerate deals.

Take my money!

When we really think about this, it’s not that businesses don’t want to pay. It’s that most of them are suffering from a broken sales transaction process. In fact, most businesses are ready to shut up and just give you their money! This is why PandaDoc and Stripe decided to team-up. We wanted to create a solution that improves the customer experience issues that many SMBs struggle to overcome.

On average, businesses around the world take approximately 66 days to complete a payment transaction. But with PandaDoc + Stripe, the average time from signature to payment is 3 days.

Take_my_money
Imgur

PandaDoc + Stripe is officially tackling the main issues in a detached sales transaction: no more delayed payments! 

Which also means:

  • NO MORE decreased cash flow
  • NO MORE slow deals
  • NO MORE efficiency issues
  • NO MORE customer experience nightmares

What this means for SMBs today and tomorrow

Collecting signatures and processing payments through proposals, quotes, and contracts doesn’t need to be a painful exchange.

PandaDoc and Stripe have now streamlined a more dynamic sales experience with a simple payment solution, all wrapped in one.

Stripe_PandaDoc_integration

PandaDoc users can ask their prospects and clients to pay via ACH or credit card upon receiving an electronic signature.

This is huge for business owners and (more importantly) their customers!

SMBs can now go from quote to cash in just a few days. This is a vast improvement from the weeks or months that it used to take me to complete a transaction. This increases an SMB’s bottom line and keeps their business running because they can collect revenue faster.

Cha-ching!

Now, all you have to do is:

  1. Sign-up for a PandaDoc account
  2. Sign-up for a Stripe account
  3. Connect your new accounts inside of your PandaDoc workplace settings
  4. Add a payment block
  5. Start collecting payments

Click the links below and start making payment collection as efficient as collecting eSignatures.

For PandaDoc users, learn more about the Stripe integration here.

For Stripe users, learn more about the PandaDoc integration here.

Mikita Mikado

Mikita Mikado CEO & Co-founder of PandaDoc

Mikita is a software entrepreneur, CEO, and Co-founder of PandaDoc. When he is not working, you can find him catching waves on a surfboard or hanging out with his little daughter.

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