How E-Signatures Modernize the B2B Rental Experience at McGrath RentCorp
In the world of B2B rentals, contracts are vital in every engagement, and rapid processing is essential to boosting customer satisfaction and revenue.
McGrath RentCorp is a leader in the B2B rental industry, offering everything from modular office space to electronic testing equipment and storage tanks for hazardous substances. The company generates thousands of contracts annually, so it presented the perfect opportunity as McGrath RentCorp looked to jumpstart a digital transformation focused on increasing efficiency and modernizing customer experiences.
“We thought the best way to drive transformation was to demonstrate the benefit of automating a manual, paper-heavy workflow—something that didn’t require a lot of change management,” says Mark Rowell, Senior Director, Information Technology at McGrath RentCorp.
It was a smart move. By making contracts digital and enabling customers to sign electronically through Adobe Acrobat Sign, McGrath RentCorp has cut administrative work in half and saves more than $8,000 annually in paper, postage, faxing, and printing. At the same time, the company now has immediate insight into product deliveries and returns and can store contracts indefinitely, which is important from a legal perspective.
Contracts on pace with the speed of business today
In the past, drawing up customer agreements and getting them signed was complicated. Customer service representatives prepared contracts manually and handed the printed copies to a separate team, which then coordinated a time and place to relay the paperwork to drivers. After delivering the equipment and getting a signature from the customer, the driver dropped off the paperwork for customer copies and filing. The process repeated when equipment was returned.
Now, customer service representatives draw up the contracts instantly in the company’s Oracle E-Business environment and send a link though Acrobat Sign to both the delivery driver and the customer. The driver simply opens the contract on a mobile device and hands it to the customer to sign, attaching photos to document the condition of the equipment. When an agreement is signed, Acrobat Sign triggers the billing process in Oracle.
McGrath RentCorp uses an API to notify customer service representatives when a delivery is completed or a piece of equipment is returned. Instead of waiting four hours for that information, they now know immediately—which keeps the business moving and enables them to respond to any possible customer service issues.
“Acrobat Sign allows us to close deals and get equipment back into the rental pool faster, and that’s accelerating business growth,” says Mark.