Posted 23rd October 2020
It’s a truth universally acknowledged that a service currently carried out on paper must be in want of digitalisation.
In the past century, technology has developed at an exponential rate, so much so it can feel like the world is rapidly changing before our eyes. Thanks to this advancement in technology, we now have everything we need at our fingertips, carrying around pocket-size computers in the form of a smartphone. Of course, those of us of a certain age will remember the days when a mobile phone resembled a brick (which, believe it or not, was a mere 50 years ago). But with smart-phones and laptops now practically interwoven with modern life, the way we live and work is becoming increasingly digitalised.
Wait, don’t they mean the same thing?
Although the terms digitisation and digitalisation are used interchangeably, they actually refer to two separate processes. Confusing? Maybe. But don’t worry, we’re here to breakdown the jargon for you.
Digitisation refers to the practice of converting analogue data into a digital form. Scanning a handwritten letter is a perfect example of this. A handwritten letter presents information in an analogue (and quite frankly, outdated) way. By scanning the original document, the data becomes an electronic file, in other words, digitised and can be saved electronically and easily shared with others.
Digitalisation, on the other hand, describes the process of leveraging digitisation to improve business processes, placing digital data at the core of a business strategy and embracing digital technology to power productivity, efficiency, and profitability. It can be used to change business processes for the better, improving customer experience and helping your company reach new, increasingly tech-savvy audiences.
Our document management services fall under this definition. At E-Sign, we certainly don’t stop at just digitising existing processes; we’re constantly looking to digitally transform the way we do business, making life as easy as possible for you and your clients.
In a world run by technology; traditional processes simply cannot keep up. Indeed, embracing digital transformation is vital to staying relevant and competitive in an everchanging corporate landscape. Businesses across the UK have already widely adopted some forms of digitisation such as emails, CRMs, scanning and digital programmes, which have already revolutionised office life. But most companies have stopped short of complete digitalisation, relying on outdated, paper-based processes when it comes to signature and payment collection. Why? This half-digital, half-analogue process dampens productivity and efficiency, creating a disjointed approach that benefits no-one.
Although they say nothing in life is certain, there is surely one thing that is: technology will continue to evolve, and the business world will move more and more into the digital world. With this in mind, it’s more important than ever that your business is prepared for the digital future ahead. Here’s how E-Sign can help you digitalise your business processes:
Old process: Signing a document, scanning to digitise and emailing to the signer. They must then print it out at their end, sign it, re-scan the document and email it back. Some companies even still use fax machines to digitise and send signed documents back and forth.
E-Sign’s solution: With the Electronic Communications Act and the Law Commission supporting the legality of e-signatures, we decided that the old process of signature collection could be fully digitalised with the right technology. Our document management platform is designed with paperless transactions in mind and allows you to upload, e-sign and send documents in just a few clicks- say goodbye to switching between analogue and digital formats.
The result: With our electronic signatures and digitalised document management, your business benefits from streamlined, efficient processes, saving you valuable time (and in turn, money) on daily administration tasks.
Old process: Sending out an invoice or payment request and waiting for a cheque to arrive in the post, or a completed BACS transaction. This could result in chasing payments or sending follow-up requests either via email or post.
E-Sign’s solution: At E-Sign, we knew there had to be a quicker and more efficient way to collect payments, so as always, we looked at how the process could be digitalised. By offering the option to integrate a payment gateway into your signed documents, you can combine what’s often two separate transactions into one efficient process, allowing you to collect payments as soon as you complete a transaction with your clients.
The result: With the ability to instantly collect payment straight into your chosen bank account, an integrated payment process allows you to reduce time spent on chasing and manually processing payments. It also allows your business to benefit from improved accountancy and financial modelling.
Old process: Asking people to verify their identity by providing personal information and supporting this with scans of their passport, driving licence or utility bills, which is not exactly a convenient or easy process for customers.
E-Sign’s solution: Once again, we’ve adopted an integrated approach to make ID verification as efficient as possible. By embedding ID software into the document management process, our platform allows businesses to embed secure identity verification into digital transactions, ensuring the real-world identity of signers is properly verified. Our ID Checker still requires your client’s details, but rather than asking for scans of ID, we screen this information against our global database, keeping the whole process entirely digital.
The result: Our embedded ID Checker makes it easier for companies to remain compliant with KYC (Know Your Customer) and CDD (Customer Due Diligence), as well as offering an extra layer of protection against fraud. Beyond this, keeping things digital makes ID verification easier for your clients, allowing you to offer a smoother customer experience.
Old process: Most businesses are run on multiple applications, software and programmes- but the unifying potential of digitalisation is ignored. This results in disjointed processes and more hassle for employees and customers alike.
E-Sign’s Solution: A big part of digitalisation is leveraging new technology to make business processes easier, more automated, and integrated. An Application Programming Interface, or API, is a software intermediary that allows multiple applications to communicate with each other. An API connects your business processes, services, content, and data to channel partners, internal teams, and independent developers in an easy and secure way.
The result: With an API allowing you to integrate E-Sign’s software into your own, your business can benefit from a more joined up way of working, integrating greater automation into your processes for a smoother, more efficient digital experience.
E-Sign is a leading provider of digital transaction management solutions, supplying professional services including Electronic Signatures, Web Forms, ID Checker, Verification Tools, Personalised Emails, API and Payment Processing to businesses of all sizes 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.