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3 Ways Your Business Can Use RightSignature + Stripe to Collect Payments

By: Unknown / Thursday, May 11, 2017

Have you ever needed to collect a payment or capture credit card information from your customers using a credit card authorization form, deposit agreement, or other signed document? Did you know you can accomplish both processes in one easy step using RightSignature?

One of our most powerful forms is also one of our most often overlooked. Thanks to our integration with Stripe, the RightSignature Collect Payments feature allows your business to process payments from any credit card easily and securely. Your customers simply fill out your document as normal, then input their credit card information just like any other field on your document. Unlike collecting this same data using a normal text field, your customer’s payment information is tunneled securely into the payment processing service Stripe, aiding in ease, security, and PCI compliance.

When should you use Collect Payments? Here are three useful scenarios.

1: Send a credit card authorization form and charge your customers in one step

Inside sales is a fast-paced, high-contact field in which a small team can reach a lot of leads around the country very quickly. However, in order to finish off a sale using a credit card, many teams require a signed credit card authorization form to approve the payment. Gathering that information can often introduce friction at a crucial moment in the sales pipeline, and if the process drags on, it could lead to cold feet.

For this reason, sales teams love RightSignature with the Collect Payments feature enabled. Not only does RightSignature integrate with many CRM tools to help you capture a signed, legally binding credit card authorization form in minutes, but as soon as the document is signed, the document signer’s card is charged using Stripe. It’s a perfect way to shave unnecessary hours and steps off your sales process so your team can move on to making more money.

2: Set up a recurring payment on your rental agreement

Do you run a property management company? Or perhaps another kind of rental-based business? You can use RightSignature to get your rental agreement template signed in minutes, plus set up a recurring transaction to auto-charge your new tenant in one step.

Simply set up your rental agreement in RightSignature using the Collect Payments feature, then edit your payment field to collect your signer’s card information. Next, login to Stripe and set up a recurring payment, and you’re all set! In just a few minutes you’ve taken care of all your most frustrating paperwork, and made life easier for your renter by automating the payment process as well!

3: Collect a deposit on your waiting list agreement

RightSignature customer Turtle Rock Elementary School is one of the most acclaimed centers for early childhood education in Orange County, California. Chief among their innovations is a cutting-edge view of technology to simplify complicated and difficult processes. So when school owner Maajed Abuhusayn found himself buried in hundreds of paper applications to the school’s waiting list, he knew he had to make a change, and that’s how he found RightSignature. Said Abuhusayn,
“We have 250 families on our waiting list, and [before RightSignature] each one would complete the waiting list form and pay our fee in a different way. One family would hand in a paper form with a check attached, another would write down a credit card number, and we had to file the paperwork and process payments in 2 or 3 different sources, then reconcile everything in our records once the payment cleared.
RightSignature and Collect Payments simplifies everything into one form, and the payment processing is done for us in real time. It’s simple and helpful for parents, because they get confirmation that they’ve been added to the waiting list as soon as it happens.”
These are just three examples of how Collect Payments from RightSignature is an indispensable tool for businesses, simplifying complicated workflows down to a quick, almost automatic process. How does your business use this exciting feature? Let us know on Twitter and join the conversation!

The True Cost of Paper

By: Unknown / Tuesday, May 2, 2017

How much does using paper cost your company every year? It sounds like it should be an easy item to calculate: add up the number of reams your company bought and you’re all set. According to one source, the average office worker uses about 10,000 sheets of paper per year, and U.S. businesses collectively spend over $120 billion on paper forms per year, most of which have to be replaced every year anyway.

Look deeper, though, and the true cost of paper is even more shocking. In business, every decision has an opportunity cost. What is the cost of paper compared to the alternatives? By understanding the hidden costs of paper, we can learn what can be gained from going paperless.

Paper takes up a lot of space

If you’re in the office right now, go ahead and find the nearest file cabinet and say hello. Chances are, it’s bulky and beige and probably not very attractive. It’s also not cheap. Each four-drawer file cabinet in your office takes up about nine square feet of space in your office, which means on average it costs about $1500 each year in rent alone. If your office is in a particularly expensive area, that number can go way, way up.

If it ever feels like you spend too much of your time in the office chasing down paper, it’s probably because you do: according to a study, a typical employee spends 30-40 percent of their time looking for information. Additionally, a misfiled document costs $125, and for every twelve filing cabinets, your business will require another new employee just to maintain them.

Paper is fragile and easy to lose

The worst case scenario with paper is losing an important document entirely. Unfortunately, it’s also outrageously common: on average, large organizations lose a document every twelve seconds. Each time, you can expect your business to lose between $350 and $700.

Since paper is so costly to replace, it would sure be nice if it wasn’t susceptible to just about every natural disaster imaginable. Instead, your paper records are completely ruined in the case of a fire or flood. The Paperless Project estimates that 70 percent of today’s businesses would fail within three weeks if they experienced a catastrophic loss of their paper documents to fire or flood.

Paper is slow, and it affects too much

If you don’t remember office work before the advent of email, have a chat with someone who does. Otherwise, Bill Du Val, a lawyer from Portland, Oregon, has you covered. “The difference between the 1990s and today is that things move more quickly, the primary advantage being the ability to attach documents,” says Du Val. He added, “Fax machines suck, have always sucked, and will always suck.”

Consider how quickly your work moves today, then imagine what would happen if every single correspondence you needed for work took seven to ten days to deliver by postal mail. Now imagine that speed gain reflected in every aspect of your business that still uses paper. If you’re still mailing contract and documents to sign by hand, there’s a faster way to work.

Paper usage is a leading contributor to environmental concerns

18 million acres of forest are lost each year to our growing paper consumption, which contributes 12-17 percent of annual greenhouse gas emissions. Meanwhile, discarded paper contributes about 35 percent of all solid waste in U.S. landfills. If your business feels like you’re doing your part to reduce that burden, it’s still likely not enough: the U.S. has less than five percent of the world’s population, yet consumes over 30 percent of the world’s paper.

Paper is the way of the past for any world citizen, and especially any savvy business. Instead, the future is in paperless solutions. Have you calculated the true cost of paper for your business? If so, let us know on Twitter and join the conversation!


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