4 Industries That Are Going Digital and Why You Should Too

If your business hasn’t gone digital yet, there’s a good chance that you’ve at least started looking into taking the first steps.

Of course you made the transition to email with the rest of the world, but how are
 your documents being managed? How do you store files? Paper documents are being replaced by their cost-efficient, time-saving, secure digital counterparts. And your business could suffer by avoiding the transition to a digital office.

According to business consulting firm McKinsey & Company,  the definition of “digital” can mean different things for different companies. 

“For some executives, it’s about technology. For others, digital is a new way of engaging with customers. And for others still, it represents an entirely new way of doing business… 

It’s tempting to look for simple definitions, but to be meaningful and sustainable, we believe that digital should be seen less as a thing and more a way of doing things.”

For many businesses, “going digital” means that your paper processes become digital processes. Gartner predicts that, by 2025, every industry will be transformed by digital business. Recognizing this inevitability, 52% of CEOs and senior business executives say their organization has a digital business strategy.

Here are just a few industries that have taken steps towards going digital:

1. Healthcare 

When a contract needs to be signed yesterday, digital signatures provide a safe, secure and compliant way to get documents signed at the click of a button—or swipe of a finger. Providers must ensure that their e-signature technology meets HIPAA, FDA 21 CFR Part 11 and other appropriate healthcare documentation regulations. Our partner,  MediTract, the leading contract management and compliance company solely dedicated to healthcare, integrated e-signatures into their enterprise contract lifecycle management solution to further automate their process. The SIGNiX/MediTract solution saves healthcare providers additional time and effort and further strengthens superior security capabilities. 

2. Real Estate

Real estate transactions have never been easier for the buyer, the seller or the agent thanks to zipLogix™, a technology company created by, owned by and working for real estate professionals to improve productivity and efficiency industry-wide. Its software automates and simplifies the repetitive and complex steps of real estate transactions and is used by more than 650,000 real estate professionals across the country. SIGNiX and zipLogix™ provide real estate associations and real estate professionals with SIGNiX’s Independent E-Signatures™, the signature engine behind zipLogix Digital Ink® software. 

3. Government

Federal, state and local government agencies are moving their operations online as well. The Government Paperwork Elimination Act (GPEA) requires Federal agencies to allow individuals or entities who deal with the agencies with the option to submit information or transact with the agency electronically and to maintain records electronically, when practicable. The Act specifically states that electronic records and their related electronic signatures are not to be denied legal effect, validity, or enforceability merely because they are in electronic form, and encourages Federal government use of a range of electronic signature alternatives. The County of San Diego turned to digital processes when they wanted to offer its citizens a better customer service experience. Not only do constituents enjoy the luxury of completing forms online,  the county also saves approximately $230,000 each year in labor costs and in paper-related expenses, like ink, paper and postage. It’s a win-win.

If you attended Pershing’s INSITE this year, then you know that digital has become the new wealth management industry mandate for meeting client expectations. SIGNiX is the preferred e-signature vendor in the wealth management space because our technology offers industry specific benefits, like security, compliance and independence. That’s why Pershing chose to integrate SIGNiX’s technology into NetX360®, a digitally enabled professional platform for broker-dealers, wealth managers and advisors. It is designed to increase efficiency and onboard and collaborate with clients more effectively. The Wealth Management industry can rest easy knowing that SIGNiX’s digital signature solution improves efficiency and lowers costs without sacrificing compliance or security.

One you’ve taken the first steps towards going digital, you’ll quickly realize that it’s not so scary.  Plus, you’ll be armed and ready to take on more digital processes moving you closer to a fully automated powerhouse.

To learn more about digital signatures and how to adopt them in your business, download this free white paper.