Over the years, the way companies do business has changed steadily. When the COVID-19 pandemic broke out in 2020, it changed how we work as a society in several significant ways, with many experts assuming the change will be permanent.
While the traditional business concept stalled and wavered during the pandemic, the Anywhere Economy has skyrocketed, driving meaningful changes and decisions for businesses in virtually every industry.
But what exactly is the “Anywhere Economy”? And, perhaps more importantly, how do things like electronic signatures support this kind of rapid economic growth and continuous business improvement?
In the following, we will take a deeper look into this critical economic change after COVID-19 and examine the critical role that electronic signatures play in it.
What is the Anywhere Economy?
The Anywhere Economic is a term that describes how working and doing business make it possible to provide goods and services anywhere and anytime. It is not a concept that is limited to a specific sector but rather an approach that affects all economies worldwide.
While the Anywhere Economic evolve out of necessity during the 2020 pandemic, experts believe this more distant and technologically-assisted way of offering goods and services will not go away. In survey results release by Forbes, this February, 74% of working people said remote working would become the standard, and a similar 76% of business owners surveyed share the same feelings. Another 2019 Forbes report expects “two-thirds of all customer experience initiatives will be in IT by 2020, up from half in 2017.”
Because the Anywhere Economy represents the idea that business can be done anywhere, by anyone, it has created an opportunity to transform the way we think about work to connect more businesses and consumers successfully.
Working of Anywhere Economy with E-signature online apps
First, let’s look at the number of people who work from home; CNBC reports that 1 in 4 Americans will work remotely by the end of 2021. While many companies moved to more remote work over the past year due to the ongoing pandemic, there has been a steady shift in that direction for some time.
More technical solutions than ever are deployed to promote remote collaboration and business activities to support the continued growth of remote work. These solutions focus on remote communication, shared tasks, scheduling, cybersecurity, cloud storage, eCommerce, and filling out digital documents through electronic signatures.
In 2020, companies that directly support the ability to do business anywhere saw tremendous growth. Zoom sales rose 326%, data warehousing company Snowflake sales grew 124%, and Etsy sales grew 111%. The electronic signature industry has seen incredible growth from $ 1.83 billion to over $ 2.8 billion without any forecast of slowdown; An annual growth rate (CAGR) of 31.0% is expected through 2026.
What role do E-signature online app play in the anywhere economy and remote working?
A dedicated e-signature solution enables companies and customers who work and communicate remotely to complete transactions, sales, and various business and legal processes by signing a document or other item through their computer. In essence, the critical role e-signatures play within the Anywhere Economic can sign most documents from anywhere.
In the post-COVID-19 economy, more companies than ever have chosen to keep doing daily chores by allowing remote working. Electronic signatures have proven helpful in this transition as they make it easy and quick to fill out important business documents, such as B:
- HR documents
- New hire forms
- Legal contracts
- Tax forms
- Confidentiality Agreements
And much more
But the usefulness of electronic signatures in the Anywhere Economy and remote working doesn’t stop with internal transactions. Businesses and organizations have found that electronic signatures are central to performing important functions with customers and suppliers, such as B:
Where can we integrate electronic signature Online?
- Setting up new sellers
- Conclusion of sales transactions
- The signing of real estate contracts
- Ensure HIPAA forms
- Obtaining forms to enroll new patients
- Completing legal documents
- Prescribing medication
In years like 2020, many of the everyday processes mentioned above would simply no longer have been possible without digital signatures. E-signatures have helped people’s lives over the past few years.
The benefits of electronic signatures in the anywhere economy and beyond
Electronic signatures won’t go away anytime soon. Not only has this form of digital technology helped keep businesses going during one of the most difficult financial years in modern history, but it has become firmly established for the foreseeable future because of its considerable advantages for working on the go.
Electronic signatures make it possible to do paperwork in minutes instead of days. Therefore, this enables businesses and organizations to close sales deals faster, approve contracts the same day, increase the speed of medical approvals, and more.
Accuracy of Procedure:
Errors, changes, and corrections are inevitable in paperwork. With traditional pen and ink paperwork, necessary updates can delay the entire process while the paperwork is corrected, reprinted, and delivered. With electronic signatures on digital documents. Updates can often be completed in seconds and quickly passed on to the parties for signature.
Electronic signatures and digital documents protect sensitive data with functions. Such as completion certificates, forgery-proof seals, secure storage in trustworthy SSAE16 data centres. Encryption to protect against unauthorize access and detaile audit trails.
Compliance with a regulations track record:
Companies find that e-signature compliance is easier and more reliable than ever to comply with require industry regulations. Key features such as signing certificates, digital signatures. Audit trails and improve visibility controls help companies and organizations to make compliance with regulations more efficient and effective.
With the ability to complete important documents electronically, companies are no longer restrict by distance. Contracts, agreements and permits can now be sign and concluded in seconds from anywhere globally, which adds to a location-independent economy.
Collaboration with tech:
Virtual collaboration enables colleagues, employees, and companies to work together easily from anywhere. However, medical records can be share, procedures and operations approve new digital signature online pdf format, and much more.
Scalability of Work:
By incorporating Customized and Standard E-Signature into the daily process, companies no longer experience slowdowns or limitations when trying to scale. Paperwork for training employees, contracts, notifications and much more can be sent and sign quickly and easily.
Auditability in No time:
For many companies, monitoring the progress and tracking the movement of important documents is a priority. Carefully reviewing the history with physical records can be difficult. With electronic records, companies can review every access, sending, receiving. Therefore, approval and completion of documents with just a click of the mouse.
Enhanced User Experience:
Therefore, businesses everywhere see improve customer satisfaction rates due to the elements of speed, convenience, and simplicity. That electronic signatures add to virtually any process or transaction.
More Cost savings:
The cost of printing, mailing, and storing physical documents can quickly add up for businesses. When efforts are made to digitize the paperwork and move to paperless systems. Business owners can quickly see the cost savings and budget improvement on the bottom line.
How DocsignPro supports the Anywhere Economy
At DocSignPro, we offer a cost-efficient, secure, and compliant E-signature online app for companies. We pride ourselves on providing the right type of solution for everyone working in the Anywhere Economy today. It is one of the most advance and best online signature apps.
From healthcare providers to educational or legal services. Our signature solutions help companies and organizations work remotely complete processes quickly and securely anywhere in the world. Every day, companies choose DocSignPro as their electronic signature solution because: