To run a successful business is to keep a close watch on ROI. Are your digital tools paying dividends? Are your employees performing at their peak?
Electronic signature tools are designed to free you from meaningless paperwork and keep business rolling for dispersed teams. And when it’s time to evaluate different eSignature vendors, your finance and procurement team will expect a quantifiable answer regarding its ROI.
That’s why it’s important to understand exactly how much you’re paying for different features and which eSignature pricing model offers the most value.
What’s more, it will ensure that you don’t get trapped in a plan that doesn’t make sense for your business in the long term.
To make vendor shortlisting much simpler, this piece focuses on unpacking the different eSignature pricing models in the marketplace.
Some vendors charge based on the number of users, some charge per signature or document/envelope and others offer an annual all-in-one fee for unlimited document signing.
Want to know which of these options best suits your business? First, you’ll need to understand how your business will be using eSignatures.
To understand eSignature pricing, we need to first understand eSignature consumption patterns. There are two types:
This ad-hoc consumption pattern is usually seen in business departments like HR, sales, procurement, and operations that deal with low to high document volumes on a daily basis. And, usually, these documents include the likes of NDAs, work orders, invoices, employee paper-work, and statements of work.
If this resonates with you, what you need is a plug-and-play eSignature solution that requires nothing more than an active internet connection before you can start signing.
Each SMB has unique requirements, which makes determining the ideal eSignature pricing and model difficult at the get-go. This is why it’s best to vet vendors who are willing to let you try their solution for free before making a financial commitment.
System-initiated consumption patterns are seen within SMBs with 11-50 employees and high document volumes.
For example, a company may automate the capturing of signatures by integrating the esignature solution with their HRMS platform that sends new hire/employee paper-work. Or, a sales team may integrate their CRM to automate the capturing of signatures on sales contracts.
If your business needs fall within this category, your ideal eSignature vendor is one that is incredibly flexible and scalable, with pricing that is usually based on a specific volume of documents that the business will process within a certain period.
In general, eSignature pricing tends to vary based on features that the vendor offers, from API capabilities and customer support to integrations. As you tack on additional capabilities, the cost will also increase.
When you are evaluating eSignature vendors, apart from features and credibility, you also need to look into their billing model.
This is especially important if you are looking to work with a vendor long-term. You don’t want your costs to spiral out of control as your document volume scales. On the opposite end, it makes no sense to pay for features that your team doesn’t use.
To find the right fit for your business, you need to understand the following types of eSignature pricing models:
Trivia: Obsolete eSignature pricing models include pay per transaction, per session, per form, and per package. Since B2B customers didn’t find these models to be cost-effective, they are no longer offered by eSignature companies.
Signeasy is particularly popular among SMBs thanks to its competitive pricing, unlimited document allowance, and client support services. We also offer a few advanced features, and out-of-box integrations with Salesforce, Google and Microsoft.
We’ve also structured our pricing to be simple and totally transparent: many of our competitors tend to have more complex cost packages, which can make it challenging for SMBs to understand what they’re signing up for.
The pay-per-user model works by charging you based on how many people at your company are using the product to collect signatures on documents. You only need to pay for these users. In fact, at no additional cost, an unlimited number of users can use the eSignature solution if they are just signing documents.
Signeasy offers pay-per-user eSignature pricing with unlimited documents and unlimited document templates with our Business Plan.
Many eSignature pricing structures offer discounts when you pay annually, like a loyalty incentive for committing to an eSignature solution.
You can usually expect to pay up to 30% less per year if you are willing to be billed annually instead of monthly.
If that doesn’t bother you, then go with the annual plan and save big!
For example, if you have a team of three users on an annually billed Signeasy Business plan, you’ll only pay $25 a month per user (when billed annually) instead of $40 a month per user.
An electronic signature solution can deliver great benefits to a small business, given that you choose the right pricing model and vendor.
Sometimes it can be a challenge to identify solutions that offer a transparent and scalable e-signature pricing structure.
Here are some key points to consider while shortlisting eSignature providers:
We hope this guide has helped you understand the different eSignature pricing models so that you can determine what best suits your business.
Aside from the affordability factor, be sure to check if the vendor offers:
There is immense value in a customer service agent or salesperson who connects with you, listens, and offers solutions based on empathy and human reasoning – not a one-size-fits-all algorithm.
Signeasy offers all of this and more. Want to get familiar with our solution? Register for a free trial today.