PandaDoc vs. Docusign: Which Should You Go for in 2024?

E-signatures streamline a range of document-signing processes, from sales documents to employment contracts. Docusign and PandaDoc are great choices for this purpose, but depending on your budget and other factors, you may benefit from one option more than the other.

In this guide, we will compare PandaDoc vs. Docusign, and provide expert insights to help you decide which software is best for your business needs: 

• PandaDoc vs. Docusign overview.
• PandaDoc: Full breakdown.
• Docusign: Full breakdown.
• How to negotiate discounts on PandaDoc and Docusign. 
• PandaDoc vs. Docusign FAQs.

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PandaDoc vs. Docusign overview: Insights from Vendr’s e-signature experts

As an integrated procurement software company, Vendr has helped many companies successfully negotiate their contracts with e-signature suppliers. This includes both early-stage startups and enterprise companies.

We spoke with one of Vendr’s negotiation experts, Tyler Gardwood, Principal SaaS Consultant, to get insight into the differences between PandaDoc and Docusign. Here are some of the most important things to note when comparing the two. 

PandaDoc: Startup-centric & cost-sensitive

Vendr negotiation experts typically recommend PandaDoc for businesses seeking a small-scale, budget-friendly solution. As the business scales and usage increases, decision-makers can consider switching to Docusign to accommodate their growing needs.

“If you're a very early startup company, Docusign might not be the best choice. The minimum we usually see on Docusign contracts is several thousand dollars when five users sign up,” says Garwood.

Currently, PandaDoc’s most affordable plan costs $19 per seat per month on an annual billing cycle, with a maximum of two seats. It also allows unlimited e-signatures and document uploads.

Docusign: Enterprise-centric and built to integrate

Docusign offers more than 400 integrations, which makes it an ideal solution for enterprises with a large tech stack.

“If a company is moving away from Docusign, it's usually because they don't care about integrations and care mostly about the investment point,” says Garwood.

Indeed, companies of comparable size generally pay more for Docusign than PandaDoc According to Vendr data, PandaDoc contracts range from $28,200 to $54,200 for an organization with a headcount of 1,000. A business of the same size could pay $80,000 a year or more for Docusign. 

PandaDoc: Full breakdown

PandaDoc is a document automation platform that supports the following use cases:

• Creating and managing proposals.
• Collecting e-signatures.
• Building quotes.
• Creating, managing, and storing contracts.
• Collecting payments.

The platform is geared toward individual users and businesses, including enterprises. According to public data, the majority of PandaDoc users are small- and medium-sized businesses.

Pricing and plans

PandaDoc offers three plans with monthly or annual billing.

Key features

PandaDoc’s e-signature solution allows you to build approval workflows to save time on creating and sending documents.

Other key features include:

• Support for multiple file formats such as PDF and DOCX.
• Easy-to-use ​​document builder with drag-and-drop functionality.
• Track e-signatures with notifications.

The software is also compliant with ESIGN, HIPPA, and UETA.

PandaDoc security

PandaDoc’s security credentials include a SOC 2 Type II certification, which means that an independent security auditor has verified that the company's security controls work properly. Customer data is protected using AES-256 encryption. The company also uses round-the-clock system monitoring to detect issues in real time.

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Docusign: Full breakdown

Docusign is an e-signature and contract lifecycle management (CLM) provider. The platform supports:

• Generating documents and agreements.
• Sending, signing, and tracking documents.
• Verifying the signer’s identity.
• Building web forms.
• Performing remote online notarization.

Docusign offers pricing tiers for every type of user, from individual to enterprise plans. According to public data, Docusign customers span small businesses, mid-market companies, and large enterprises.

Pricing and plans

Key features

When it comes to electronic signatures, Docusign is a well-known industry leader. This is reflected in the platform’s many integrations, ​​including Salesforce, Zoom, Microsoft, and Google. Other e-signing features include:

• Customizing the visibility of certain document sections to specific recipients.
• Sending documents to signing groups or departments instead of an individual.
• Automate document workflows such as uploading signed documents to cloud storage.

Docusign is compliant with HIPAA, EU Annex 11, 21 CFR Part 11, and other regulations.

Docusign security

Docusign’s security features include AES encryption and SOC 1 Type II and SOC 2 Type II certification. Users can protect access to their sensitive data using multi-factor authentication and role-based access permissions.

How Vendr negotiates discounts on PandaDoc & Docusign

Our negotiation experts recommend using the following tips to get a better deal on your digital signature software.

Multi-year commitments

According to our Principal SaaS Consultant, Tyler Garwood, a multi-year commitment is one of the most important discount levers to pull during a software negotiation for Docusign or PandaDoc.

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To really maximize your savings, Garwood recommends building growth into your multi-year contract.

Built-in growth means incrementally increasing your usage inside of a contract term and using it to secure a discount. For example, you could agree to 8,000 envelopes in the first year and 10,000 in the second.

Defining overages

If you opt for document or envelope-based pricing, make sure to double-check your contract for overages.

Let’s say your envelope rate is $4. After you exceed your limit, the overage rate could be $6 or $7 per envelope. 

To avoid such a steep increase, Vendr encourages customers to include overage bundles in their contracts. 

“Put language in that states if you purchase 500 or 1,000 bundled envelopes before the renewal date, the supplier will present it to you at the same unit rate that you had in your total contract,” explains Garwood. This way, you will avoid spending 40% to 80% more on e-signatures.

PandaDoc vs. Docusign FAQs

Which e-signature platform offers better value for small businesses?

PandaDoc is more suitable for small businesses and early-stage startups. Vendr negotiation experts typically recommend companies consider Docusign only when they start sending larger volumes of documents.

Can either platform be integrated with existing CRM systems?

Both PandaDoc and Docusign include CRM integrations.

PandaDoc integrates with Salesforce, Pipedrive, Hubspot, Monday, Zoho, Copper, and many more CRMs.

Docusign integrates with Salesforce, Microsoft Dynamics 365, Netsuite, and other apps.

How do e-signature software pricing plans scale alongside growing businesses?

Pricing plans of e-signature suppliers typically scale according to the number of users or number of documents. It’s up to the business to decide which pricing model is best for them based on their usage patterns.

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