If you rebuild the same proposal, contract or invoice from scratch every time, you are doing work a template can do. Document automation fills a branded template with the client's data, sends it for signature and can trigger the invoice, so the work shrinks to a quick review.
Return 1: time per document
Count the documents you produce each month and the minutes each one takes, including looking up the client's details, formatting and sending.
Illustrative numbers only, to show the math. They are not RushRush results or a promise. Use your own numbers.
- 12 proposals and contracts a month, 45 minutes each, is 9 hours.
- At $30 an hour, that is $270 a month.
- If automation cuts it to 10 minutes each, you save about 7 hours, or $210 a month. A $1,200 setup pays back in under 6 months.
Return 2: speed
This one is often bigger than the time saved. A proposal that goes out in 10 minutes instead of two days reaches the customer while they are still interested. The Harvard Business Review lead-response study, summarized by SmartCompany, found that firms contacting a lead within an hour were nearly seven times more likely to qualify it than firms that waited even an hour longer. It is about leads, not proposals, and it dates from 2011, but the principle of answering fast applies to quotes too. Signatures and payments also arrive sooner when they are one click away, which improves your cash flow.
Return 3: fewer mistakes
Copy and paste is where wrong names, old prices and missing clauses sneak in. A template that pulls data from one source removes a lot of that. A consistent, branded document also looks more professional.
What data says about the opportunity
McKinsey Global Institute estimated in 2017 that about 60% of occupations have at least 30% of their activities that could be automated with existing technology, and routine data handling and document preparation are typical of those activities. The estimate is broad, so use it to look for candidates, not to predict your savings.
Precautions
Have a lawyer review your contract template once, since automation repeats whatever is in it, including mistakes. Check that your e-signature tool is valid for the kind of document and the place where you operate. Keep invoices and contracts stored safely, and follow the privacy rules for client data. Automate the filling, but keep a person approving anything unusual.
To compare this with other projects, see process automation return and how to estimate ROI.