Over the past few years, there has been a profound shift in the professional landscape, compelling small and medium-sized organisations to adapt in order to maintain their competitiveness. E-signature technology is a fundamental element of this evolution, as it contributes to expediting deal closures, reducing the time it takes to generate revenue, improving visibility into document management, enhancing customer satisfaction, and fortifying security measures. Here are 7 reasons why e-Signature will benefit your organisation.
1. Cost Optimisation
Amidst the current economic climate, cost savings have become a primary concern for many Australian businesses. They are actively seeking products that can optimise their return on investment. E-signature solutions offer the opportunity to save an average of $36 per document, factoring in expenses like paper, printing, postage, and storage. Additionally, they eliminate costs associated with human errors or situations where documents lack essential information. Contracts with such mistakes can end up costing up to four times as much to process compared to those initially submitted without errors.
2. Increased Cybersecurity and Privacy
Sending physical contracts between different signers, especially when multiple signatures are required, heightens the risk of a privacy breach. On the other hand, e-signatures securely store documents in a single digital location and monitor changes to the contract during the signing process. Routing rules can be set to ensure that signers access the document in an authorised sequence, which safeguards the document from any unauthorised alterations.
Unlike traditional wet signatures, e-signatures also provide an electronic record that serves as an audit trail and proof of the transaction. This audit trail contains a history of actions taken with the document, including the times it was opened, viewed, and signed. If any questions or disputes arise regarding a signature or the transaction itself, this audit trail is accessible to all participants involved in the transaction.
3. Enhanced Customer Experience
Enhancing positive customer experiences is an essential aspect of operating a prosperous business, and e-signatures offer intelligent functionalities that simplify the process. Through e-signatures, customers can effortlessly sign and return documents with just a mouse click or a finger tap, regardless of their location in the world or the device they use. Prioritising user-friendliness has proven to yield significant benefits, as 57% of businesses employing electronic signature technology have noted heightened customer satisfaction with the digital agreement process.
4. Improved Productivity
E-signature solutions completely automate the document workflow, making the process of executing contracts more efficient and boosting employee productivity. Many Australian businesses and organisations who have adopted the world-class eSignature solution, DocuSign have witnessed rapid improvements.
5. Reduced Errors and Inaccuracies
By automating the complete contract lifecycle through activities like document generation, collaboration, workflow management, and maintaining a central agreement repository, businesses encounter fewer mistakes. The e-signature solution guides the signer through the document, resulting in reduced errors and inaccuracies. On average, e-signatures result in a 49% decrease in errors.
6. Streamlined Document Workflow and Management
Numerous e-signature solutions provide unrestricted digital storage, simplifying the process of locating and accessing documents. This means you no longer need to allocate physical storage space for signed contracts, agreements, and other records.
7. More Eco-Friendly Workplace
Our eSignature solution has significantly reduced the environmental footprint of Australian businesses by replacing paper documents with electronic signatures. This transition has led to substantial paper reduction, lowered energy consumption, reduced waste, fewer emissions from transportation, and more efficient document management. Overall, it has played a key role in making Australian business operations more eco-friendly and sustainable.
Partner for success
As your trusted technology partner with 34 years of excellence, our local team based in South Australi is just one call away to support your team. Sign up for a free trial for our eSignature Solution, DocuSign now!