Any company today that is serious about business knows that workflow automation is the key. If a document, email, or online form is not processed effectively, business efficiency suffers, and your company will not be able to grow.
This document is about one of the best tools for document lifecycle management called PandaDoc. Today, we’re going to cover five features of it, describe and evaluate its competitors, and explain how it helps your business.
Key Features of PandaDoc
PandaDoc is not just about document storage (like Dropbox), nor is it just about signing documents (like DocuSign). Rather, it is an end-to-end document workflow solution for the entire process—from sharing documents to collecting payments. This makes it suitable for businesses of any size.
Key features include:
- Intuitive document editor with customizable templates for quick and efficient document creation.
- Real-time tracking, allowing users to see when a document is opened or signed.
- Automation for workflows, approvals, and reminders, reducing manual follow-up tasks.
- Document analytics to track engagement and monitor the performance of contracts and proposals.
- In-Document Payments, allowing clients to order directly in the document, cutting down the sales cycle and accelerating revenue.
Competitor Comparison
You can create, sign, and send documents through PandaDoc, but it goes beyond that.
For businesses, the e-signature can be attached to a payment of the contract. For example, PandaDoc natively integrates with CRMs such as Salesforce and HubSpot, meaning sales teams can keep contracts and proposals within their CRM.
Competitor Breakdown:
- DocuSign: Offers superior e-signature functionality but lacks the broader feature set that PandaDoc provides.
- Adobe Sign: Better for editing the formatting and design of documents.
- PandaDoc: Easier to use and administer for the entire document lifecycle.
PandaDoc’s Standout Features
PandaDoc includes several advanced functionalities beyond basic document management, such as:
- E-Signature Tool: Legally compliant, ensuring secure and binding signatures.
- Document Analytics: Provides real-time insights into how recipients engage with documents.
- Drag-and-Drop Editor: Allows easy customization of documents with a user-friendly interface.
- In-Document Payments: Clients can complete transactions directly within documents, reducing sales cycles.
Advantages of PandaDoc
PandaDoc offers several advantages for businesses looking to streamline their document management processes:
- User-Friendly Interface: Even non-technical users can navigate the platform with ease.
- Tight Integrations: PandaDoc has more than 300 integrations with third-party services (including CRMs like Salesforce and Google Drive).
- Automation: Workflow automation saves time and ensures efficiency by reducing manual tasks.
- In-Document Payments: This feature accelerates the payment process, helping businesses finalize deals faster.
Limitations of PandaDoc
While PandaDoc provides a comprehensive range of features, there are a few limitations:
- Pricing: The cost of PandaDoc may be prohibitive for smaller businesses with tight budgets.
- Limits on Customization: PandaDoc doesn’t offer the same level of customization as Adobe Sign.
- Marginal Technical Faults: Some users report minor technical faults, which can affect settings and overall use.
Impact on Business Productivity
PandaDoc automates many time-consuming tasks that can drag down a business. Sales teams don’t have to create their contracts from scratch or manually follow up on them via email and attachments. Most of these inefficiencies are eliminated, meaning deals get signed faster and quotes go from hours to minutes.
Everything from sending the proposal to closing a contract occurs within your CRM due to PandaDoc’s contract-management integration. Because PandaDoc syncs with other enterprise technologies, document management is done in one place, freeing employees from administrative tasks and allowing them to focus on more strategic work.
Pricing and Value
PandaDoc offers tiered pricing plans based on your business needs:
- For small businesses needing a basic document solution, the base plan provides excellent value.
- The higher-tier plans unlock advanced features such as automated workflows and in-document payments, which are better suited for larger companies with more complex needs.
While similar services like DocuSign and Adobe Sign cost $20 to $25 a month to get started, PandaDoc offers a fuller feature suite and a 14-day free trial.
Conclusion
PandaDoc is a cloud-based document management software that enables companies to build business workflows around their documents. This allows businesses to make better use of their employees’ time, communicate more effectively, and keep their documents secure.
With features like In-Document Payments and CRM integrations with platforms like HubSpot, Salesforce, and Zoho, PandaDoc offers ease of use without requiring businesses to retrain staff for e-signing. While competitors like DocuSign and Adobe Sign offer similar services, PandaDoc provides a more powerful set of features to streamline document processes and increase revenue.
Despite minor technical glitches and potential pricing concerns for small businesses, PandaDoc remains one of the best document management tools available. Learn more about PandaDoc on their website.
