Businesses are always in search of seeking ways through which they can get success in overcoming operational costs. They know that it is the best way to gain a competitive advantage over others. If they do not do so, they can fall behind in the competitive market. When they think in this way, they find that paper-based processes have been affecting their operational costs persistently. The expenses on paper-based documents are draining the money and resources drastically. Therefore, they show interest in digitizing and automating the processes. They can achieve it only when using an e-signature online.
The popularity of electronic signatures has been increased for the last few years. Many organizations have been incorporating this signing technique in the operations as a major part of digital marketing and transformation strategy. The aim of these organizations to digitize all those processes in which papers have been involved. It helps them develop a digital workflow through which the management can control the documentation process digitally from start to end. In this way, the organizations can reduce the costs that they have been facing for years in printing, signing, scanning, and mailing. All these operations can be managed swiftly while using electronic signature online. More importantly, you can increase your profit margins by removing business inefficiencies and improve customer experience.
How does electronic signature online help organizations?
While working with organizations, electronic signatures help improve business operation, as they can remove paper-based documentation and engage digital solutions to keep operational practices smooth and convenient. Some may claim that free electronic signature in word can help improve the signature process. However, the experts have some security concerns regarding these signature solutions. They think that organizations cannot remove the inefficiencies, which are attached to documentation processes. On the other hand, digital signature online can improve the overall documentation processes, which ultimately smoothen the operational practices.
Here, we are discussing some of the inefficiencies, which we can manage by incorporating customized and standard E-Signature online apps:
Manage printing, scanning, signing, and courier service costs more conveniently.
Many organizations are still spending huge amounts in printing the contracts, engaging team members in getting approvals and signatures of the stakeholders, scanning the signed documents, sending to the relevant parties through courier, storing, and destroying the wasted documents. They also need physical space to manage the documents with staff. In this way, they spend thousands of dollars. The experts confirm that for a single document, the companies spend around $20. More importantly, administrative costs are not included in this number. By using an electronic signature app, you can minimize these costs more effectively. With that, the whole document process can be improved in such a way that a contract can be prepared in a day. In the past, the companies used to take five to seven days to complete the documentation process.
You do not need to capture the signatures physically.
Do you know that the documentation process prolongs when you spend time finding the stakeholders and get their signatures physically? Are you confused? For example, if you have a document on which five different stakeholders will sign. Mostly, these people are in different locations. With the old process, you need an employee who will visit all these people and get their signatures. For that, he needs to confirm the availability of all the stakeholders at a specific location. In this case, he needs transport with fuel and call balance. More importantly, he needs hours to complete this task. So, if you need to create customized contract and do not have a digital signature app, you must keep in mind that this process will take days to complete.
On the other hand, you can make the document available for all at their systems by using a digital signature online. All the stakeholders read the document, recommend changes, implement them, and sign the document to convert into the contract. It may take only a few minutes, and you are at the end of the process. Another significant aspect that you can keep the contract protected and safe, as no unauthorized person or company can access you. Moreover, no stakeholder can change the contract without the consent of all other relevant signatories.
No errors in delivering documents
The management of numerous organizations can confirm that many times, the recipients have not received the documents until now. It has been one of the biggest issues that slow down the document completion procedure. Many government organizations like land registry digital mortgage service have faced the same issue, as many of their customers claim that they experience lengthy delays in receiving documents. Sometimes, the postal services lose these d0ocuments. In this way, the documentation process becomes a hectic task to complete. Furthermore, the companies bear unnecessary costs, delay in documentation processes, and ultimately complete the projects after the decided deadlines.
Let us explore the documentation process while using e-signature online!
Using an electronic signature app means that there is a transparent transaction of the documents. In this way, you know where the document is and who has e-signed it. With that, the managers also know that who has viewed the document and how many times. Furthermore, you can intimate all or some of the stakeholders through automated reminders to complete the documentation procedure. Therefore, we rightly claim that the companies can remove unnecessary delays and complete the documentation in few hours. In the real scenario, you can complete the process within minutes.
Overall, paper-based documentation can be daunting. It is because the companies face operational cost depression. Generally, companies do not know much about the difference between E-signature online services and manual documentation and signing processes. When they understand the difference in cost and overall performance, they cannot leave this issue unattended. Therefore, we can observe that many companies have chosen to automate and digitize the documentation and approval processes.
If you are a part of one of those organizations that have not incorporated digital signature in their documentation processing, you must go for it. Furthermore, the size and type of the business do not matter, as this digital solution for all companies. We assure you that you will not only be able to complete the documentation processes in minimum time but also cut the cost up to 50% in printing, courier, and administration. More importantly, the rate of return on investment (ROI) will boost as well.