27 Dec 6 ways an e-signature solution can transform your business
All businesses are undergoing a period of digital transformation, this may be through the introduction of cloud infrastructure or the use of software solutions to allow employees to work more effectively. All these technologies are designed to streamline business critical processes in order to save time, money or create better experiences for customers. Although businesses have already digitised many processes, 82% of businesses still use paper agreements that are manually processed by employees. These manual processes result in significant delays which can also cause poor customer experiences. Businesses can solve this challenge and many more using an e-signature solution. In this article we will discuss 6 ways an e-signature solution can transform your business.
Streamline Employee Onboarding
Emailing onboarding documents creates a better experience for new hires as it allows them to take the time to read documents at their leisure, rather than rushing to sign multiple documents on their first day. As the documents are digital, it is also easier for employees to store all their employment documents in one location, without having to worry about losing the original copy. Introducing an e-signature solution also shows new employees that the business is digital progressive and places importance on providing good experiences for their employees. The reduced times for onboarding and improved experience also decreases the chance of candidates dropping out or accepting other offers.
Meet Compliance and Regulatory Demands
Businesses that operate in industries with complex regulatory and compliance demands must demonstrate that specific business processes have been followed. This can be an arduous task if they use paper documents with traditional ‘wet’ signatures. In comparison, an e-signature solution makes it easy to provide a comprehensive audit trail of each document, and they can all be stored in a single cloud storage solution. These documents can also be encrypted so the authenticity of the signature is guaranteed.
Strengthen Security Posture
Sending documents and contracts through the mail and storing paper copies of documents poses a potential security risk for businesses. One of these risks is that when documents containing personal information are sent through the mail, if they are lost this is technically a data breach. The use of e-signatures is more secure than traditional signatures as there are multiple layers of security, authentication, and encryption. Once the documents have been securely signed and returned to the business, they are able to remain in their secure network
Many businesses are now able to go paperless after the implementation of an e-signature solution. This not only is better for the environment, but it also greatly reduces costs involved with printing contracts, sending them via a courier and storage of paper records. Going paperless also increases the speed of working, as employees don’t need to manually scan documents, or update databases with information captured from signed documents. For businesses to go paperless they should also embrace a cloud storage solution that allows employees to easily share documents.
Create Better Customer Experiences
Customers have become accustomed to efficient, personalised digital services, and the use of paper documents and contracts can cause frustration for potential customers. The introduction of an e-signature solution can simplify the purchase process, as they can sign any necessary contracts from any device quickly and easily. Similarly, using an e-signature solution can increase customer satisfaction and improve their brand image.
Easily Track Document Status
When sending documents or contracts through the mail, it is difficult to accurately track its status. This can lead to delays that negatively impact the customer experience, and a business’s bottom line. With an e-signature solution, businesses can receive real-time, instant notifications the moment it is open or signed. It is also possible to send reminders if a document is yet to be signed. This creates a better customer experience, whilst also saving time for employees, as there are no manual processes.
Want to find out more?
These are just 6 of the many ways that an e-signature solution can transform your business. Regardless of the size or industry your business operates in, an e-signature solution can increase efficiency, create a better customer experience, and save you time and money. To find out more, contact us today.