I have been representing IT managed services providers (MSPS) for almost 20 years. Years ago, I counseled my MSPS that it was necessary for managed services providers to present contracts to their clients for signature. Now we counsel our clients to collapse the sales and contracting processes into one step using their existing sales documents and incorporating by reference industry specific online terms and conditions that are agreed to when the quote is accepted. In addition to streamlining the sales process, our new approach allows all of the MSP’s customers to be on a single contract and provides a mechanism for updates to those online terms and conditions without obtaining signatures from each client.
Because our client’s terms and conditions are hosted in the cloud, we are able to monitor their contracts and compare them to our then current master templates. As changes in the law occur, we are able to push updates to hundreds of clients simultaneously without using email or word processing documents. This unprecedented scale and efficiency allow us to deliver our clients contracts-as-a-service for very affordable monthly fees.
For MSPS, there are several additional benefits of using online terms and conditions hosted in the cloud, including:
- Convenient and easily accessible: Online terms and conditions can be accessed from anywhere with an internet connection, making them more convenient for both the IT service provider and the customer.
- Quick and efficient: Creating and updating online terms and conditions is much faster and more efficient than traditional paper-based methods, reducing the time and resources required to keep them up-to-date.
- Increased visibility: Online terms and conditions are easily accessible to customers, increasing the visibility of the terms and conditions and helping to ensure that they are aware of their obligations and responsibilities.
- Improved compliance: By using online terms and conditions, IT service providers can ensure that all customers are provided with the same information and are bound by the same terms and conditions, improving compliance and reducing the chance for disputes.
- Better trackability: Online terms and conditions can be easily tracked and monitored, making it easier for IT service providers to monitor compliance and enforce their terms and conditions if necessary.
- Environmentally friendly: Online terms and conditions are paperless, making them an environmentally friendly alternative to traditional paper-based methods.
In summary, using online terms and conditions provides IT managed service providers with convenience, efficiency, increased visibility, improved compliance, better trackability, and an environmentally friendly option for managing their terms and conditions. To see Scott & Scott’s cloud-based contracts-as-as-service solution for MSPS, schedule a demo.