Accelerating Coworking Contracts with Mobile eSignature
Speed is important in coworking. Whether a prospective member is taking a tour of a space, upgrading a plan, or renewing a contract, any delay when a member has the intent and is ready to sign the contract, increases the chances of losing the member or the revenue. In a world of mobile devices, completing contracts on a desktop and paper filling is very frustrating. Because of this, mobile eSignature is a very important tool to speed up coworking contracts and improve conversion rates in coworking spaces.
Members can now sign onboarding agreements from their cell phones or tablets and this removes any and all obstacles that would delay or slow the onboarding process. For operators this means quicker revenue and deal activations, and a lot less follow up.
Why the coworking industry needs speed.
Speed is the most important factor in the co-working area. If a new prospect is looking to sign the contract, they shouldn't have to worry about printing the contract, or switching devices because they would lose all their document momentum and this means that you lose the deal or a huge delay in revenue.
Mobile eSigning solves all of these issues. Once an agreement is reached, the contract can be signed, or an upgrade can be performed. The quicker the contract is signed, the less revenue is at risk.
How Mobile eSignatures Change the Experience of Your Members
To members, the seamless onboarding experience starts with mobile eSignature. Contracts are sent instantly, easily accessible on the mobile device, and can be signed in seconds. If members have to download documents and apps, and wait to do things on a computer, it only makes the onboarding experience worse.
Their trust in your business and their perception of your professionalism grows. A modern and efficient space that cares about your members' time is a great value. When coworking spaces are competing for clients, the value that mobile eSignature brings makes a significant difference.
Less Work for Coworking Operators
For operators, mobile eSignature noticeably lessens the administrative grind. Contracts no longer need to be emailed and followed up on. You can check a box and you’ll be able to see the signing status in real time. When a contract is signed, the system will automatically activate the membership, bill, and grant access.
When mobile eSignature is integrated with coworking software, contracts are still tied to member profiles, pricing, and billing. This prevents mistakes and ensures that no signed contracts go unbilled. This is exactly what Spacebring contract functionality is meant for, allowing mobile signing directly in the platform.
Mobile Revenue Protection and eSignature
Revenue leakage happens between the time a customer signs a contract and when billing activates. Using mobile eSignature prevents this by processing signed contracts instantly. Without a waiting period, members can use the space and will begin being billed, and there’s no risk of staff forgetting to turn on a subscription.
Integrated digital signing reduces onboarding time and aligns financial operations with signed agreements, according to Spacebring’s overview of coworking contracts and eSignatures.
Using Mobile eSignature in Coworking: Best Practices
Using mobile eSignature and contract templates that are mobile-optimized and standardized will yield the best results for coworking operators. Contracts should be brief and structured, with easy scrolling functionality, and reminders for unsigned contracts to speed up the process.
The best practice for mobile eSignature is to use it with a fully integrated workflow. Signing documents should trigger billing, access, and status changes for members to be efficient, controlled, and accurate.
The 'What is 'Mobile eSignature' in Coworking Contracts' FAQ?
Mobile eSignature enables users to sign coworking contracts on their phones and tablets. No extra equipment or paper is required.
How mobile eSignatures speed up the signing process
eSignatures allow for instant contract signing at the moment of a customer commitment without the barriers of a customer’s device or location.
Are mobile eSignatures legally binding?
Mobile eSignatures are legally binding in the same way that desktop eSignatures are, and therefore are legally accepted.
Can mobile eSignatures help prevent revenue loss?
Yes. The faster a contract is signed, the sooner billing can begin, and the less opportunity there is for unpaid service usage.
Do mobile eSignatures work for contract renewals and service upgrades?
Yes. eSignatures are especially ideal for service renewals and upgrades where quick signing is a necessity.
Conclusion
In any business environment, the faster a process is completed, the better the outcome will be. In coworking spaces, the capture of revenue is directly related to speed. With the addition of mobile eSignatures, instant signing is enabled from any device, thus perfectly meeting the demands of today’s customers.
Mobile eSignatures in a contract management system help coworking space operators improve revenue protection and increase member revenue while improving the overall service for each member. Modern coworking space operators can now see that mobile contract workflows are not just a nice feature, they are a necessity, especially in large coworking spaces. Spacebring is a great example of a platform that eliminates those workflows.
