5 Reasons Why You Should Consider Digital Signatures

Posted 24th August 2020

In the current economic climate, you may be reviewing your business for weak spots or areas of improvement. The next few months could be sink or swim for your business, with millions of businesses and jobs under threat from the deepest recession the UK has ever experienced. Your business may be looking to optimise your workflow for maximum productivity and efficiency. If you are looking to get the most out of your business resources, employees and finances, digitalising your processes with electronic signatures is the perfect place to start.  With e-signatures, you can move all your paper-based administration and transactions online for cost-effective, efficient processes and speedy signature collection. In an increasingly competitive and volatile market, make sure your business stands out for all the right reasons with E-Sign. Still not convinced? Here are 5 reasons why your business should consider electronic signatures in a post-coronavirus economy.

 

1. Stay ahead of the curve

Technology is constantly evolving and your business needs to adapt to the times to stay competitive and dynamic. Even before coronavirus hit, paper-based processes were becoming outdated and inefficient in an increasingly digitalised business landscape. In a post-coronavirus economy, no business can afford to be held back by ineffective and sluggish processes. When everything else is moving online, why should your signatures get left behind? This only creates a disparity in your workflow which is bound to hold you back.  With electronic signatures, you can digitalise your internal processes and external transactions, collecting signatures from clients and colleagues quickly and efficiently.

Besides this ability to streamline paper-based admin, electronic signatures can also bring an array of additional benefits to your business. From cost and time savings to improved efficiency for you and your customers, businesses of all types and sizes stand to benefit from switching to electronic signatures. For this reason, e-signatures are rapidly expanding into new sectors and are set to dominate 25% of the market by 2030. With these statistics, we can reasonably assume that the increased digitalisation of signatures is inevitable. Ensure your business stays ahead of the curve with our electronic signatures and digital document platform.

 

2. Save valuable time and effort

When time is money, every minute you waste on paper-based admin is costing your business. In this economy, no business can afford to waste valuable time, effort, or money on outdated, inefficient processes. On the surface, signing a document appears to take no effort at all. All you have to do is put pen to paper and you’re done. But are you? Most of the time, you then have to scan your document and email it to your counterpart for signing or package it up and send it out in the post. Then you must wait for the document to be signed and returned. In total, you could be waiting anywhere between 3-7 days for your completed document, or more if you are waiting for international postage.

Using an electronic signature to e-sign digital documents can increase your process productivity by anywhere between 30-50%, helping you to potentially half the amount of time you currently spend on document processes and signature collection, freeing up significant time to invest elsewhere in your business. With digitalised documents, your clients can e-sign and return documents in a few clicks, resulting in a significantly reduced, if not instant, turnaround time for you.

 

3. Be better prepared for remote working

As many people discovered when working from home during the COVID-19 lockdown, paper-based admin and transactions are not compatible with remote working. When you work from home, your main lines of communication with colleagues or clients are online. With limited access to printers and scanners, paper-based administration is difficult to carry out at home.  By digitalising your documents, you can move all these processes online, making filling out and signing documents easier for you and your employees. When COVID-19 first hit, those businesses with a robust digitalisation strategy in place fared a lot better than those reliant on traditional processes.

With remote working likely to stay a permanent part of modern business life, ensure your business adapts to the ‘new normal’ with effective digitalisation. By switching to digitalised documents and electronic signatures, your employees can smoothly transition between office work and home with little to no disruption to your business for greater efficiency and productivity. With digitalised documents, you can effectively work from anywhere with an internet connection. By investing in e-signatures as part of your wider digitalisation strategy, you can ensure your business remains operational and productive no matter what is thrown at you.

 

4. Reduce operating costs

With the UK currently experiencing the deepest recession since records began, your business may now be looking to reduce outgoing expenditure without sacrificing vital elements of your business productivity. If your business is looking for ways to save money, electronic signatures are the perfect place to start.  You may be wary about investing in new technology during economic turbulence, yet paper-based processes could be costing you more than you realise. The smaller costs of paper, envelopes, printing, and postage are often overlooked but all add up to a substantial cost to your business. Using e-signatures and digital documents, you can effectively eliminate these costs and potentially save your company thousands of pounds per year. With substantial savings made by switching from wet to electronic signatures, it is likely that investing in e-signature technology could actually save you money.

Beyond these pure financial considerations, there are savings to be made in time and efficiency, all of which can positively impact your productivity, resulting in greater profitability for your business. By streamlining your processes and digitalising your documents, you and your employees can reallocate time, resources and money into other areas of your business, so you can continue to drive your business forward and encourage growth in the right direction.

 

5. Improved customer experience

In this economy, retaining old customers and gaining new ones has never been more important. For a smooth customer experience, you need to ensure your processes are as easy and convenient as possible. By utilising e-signatures, your customers can sign documents and complete transactions in just a few clicks, at no inconvenience or cost to them. When you choose E-Sign as your e-signature provider, you equip your business with a user-friendly platform and digital functionalities designed to improve customer experience. To make your processes as smooth as possible, your clients do not need an E-Sign account to access and sign documents. All they need to do is click the link attached, e-sign the document and return it. The entire process takes no longer than a few minutes to complete.

To ensure transactions are secure, you can also enable user-friendly password control or SMS authentication that integrate smoothly into your existing digital process. For an improved customer experience for international clients, you can also take advantage of E-Sign’s multilingual applications and send documents in their native language. Let E-Sign’s customer-focused platform help expand your client base and retain your valued customers through effortless transactions.

 

E-Sign is a leading provider of electronic signature solutions supplying professional Electronic Signatures, Form Builder, Web Form, ID Checker and Personalised Email solutions to businesses across the UK.

To find out more about our E-Sign solutions and how they could transform your business, get in touch with us today.

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