Getting sales leads to sign a non-disclosure agreement (NDA) used to be complicated, stressful, and time consuming for the BankTEL Systems IT department. After discovering Onehub’s Custom Agreements feature, the accounting software firm was able to unify and transform the entire process into a more automated, auditable, one-click action.
Based in Columbus, Mississippi, BankTEL Systems provides accounting software solutions for companies around the world. BankTEL has been in business for 25 years and serves more than 1,400 customers around the world.
Bonnie Baker is the Director of IT at BankTEL, and is responsible for overseeing and implementing all of the back-end technology at the company. Because of the financial nature of BankTEL’s products, security and compliance are key issues for the company and its clients. Potential customers need to examine a host of BankTEL due diligence documents before signing on. But in order to access those due diligence documents, BankTEL requires sales prospects to first sign an NDA.
This NDA acquisition used to be a thicket of emails, instant messages, text messages, and scans. Baker would receive messages across a variety of platforms from sales, management, and support staff requesting NDAs be sent out to hundreds of potential customers. Historically, those NDAs were emailed attachments that would need to be printed out by the lead, signed, scanned, and emailed back. Baker would need to keep track of all these requests in various states of completion and once a completed NDA was received, then send leads to a password protected site for document download. It was a long and arduous operation.
Thankfully, Baker found Onehub and was able to streamline and automate most of the NDA completion process while providing more precise and up-to-date tracking.
Baker and BankTEL took advantage of three powerful Onehub features: Data Rooms, Custom Agreements, and Activity Tracking.
First, Baker set up a Data Room to house all of BankTEL’s due diligence files. These files include financials, compliance documents, security procedures, and more. By using a Data Room, BankTEL can house all of this sensitive information in one place and share it with multiple people — without any of those people knowing who else has access. It’s a perfect file sharing solution when privacy and anonymity are most important.
Custom Workspace Agreements come with the Onehub Business subscription plan. Turning on Custom Agreements requires invited users to actively accept customized terms of service before accessing shared content. In this case, BankTEL uploaded their own specific NDA language as the Custom Agreement. In order for any invited user to access BankTEL’s due diligence, they first must accept the company’s specific NDA terms.
With Custom Agreements in place, BankTEL now knows anyone accessing the due diligence Data Room has agreed to its NDA. Once in the Data Room, Onehub’s automatic Activity Tracking provides BankTEL with an up-to-date log of who has accessed the Data Room, what files were looked at, and whether those files were downloaded.
In just six months, Onehub has transformed a once-convoluted and lengthy series of events into something elegant and straightforward.
Once a sales lead comes into BankTEL’s customer relationship management (CRM) tool, Baker receives an automated notice with the lead’s email. She copies and pastes that lead into Onehub and sends them an invite to the due diligence Data Room. Onehub’s Custom Agreements feature takes care of the NDA for her, and leads can only access content after agreeing to the terms.
A streamlined process eliminates complicated communications and removes barriers in the sales pipeline, so more deals can develop and close faster.
Instead of spending her time tracking down NDAs, Baker has more time to focus on and improve other important elements of BankTEL’s IT infrastructure.
See More Onehub StoriesThe reduction in time and the stress of having to manage the sales lead process has gone down tremendously with Onehub.
Director of IT at BankTEL