Every day, businesses around the world are ditching paper and signing important business documents online. Whether you’re signing a vendor contract, a mortgage or anything in between, digital signature software can offer significant benefits.
No matter the size of your business or what industry you’re in, everyone is looking to save money and increase revenue. Digital signature software offers an easy and powerful way to make your goals a reality.
Digital signature software can bring your business many benefits. When you put them all together, they make a pretty clear case for adopting this new technology.
There are a lot of direct savings from switching to a paperless process, including the cost of paper, ink, printer maintenance and shipping costs (download this ROI spreadsheet to see how much your business spends on these fixed costs). But you will also notice a lot of indirect savings, including the time saved that would’ve been spent filing documents, rekeying data, searching for lost documents or tracking down a contract that’s been lost in the mail. In fact, a report by AIIM found that 81% of digital signature users saw a payback within 12 months, and 25% saw ROI in three months or less.
Enhance Customer Relationships
Your customers are used to doing business online, and they’ve come to expect businesses they work with to provide online services. As of May 2013, 91% of American adults own a cell phone, 56% have a smartphone and 34% have a tablet computer, according to the Pew Research Center. With so many clients doing business online, it’s essential to modernize the last step in business operations—the signature.
With digital signature software, your customers can sign contracts online with nothing to download or install. As long as they have an Internet connection, they can sign documents no matter where life takes them. This service adds value for your customers by making it fast and easy to do business with your company.
Get Paid Faster
Because it’s so fast and easy to sign documents online, you’re sure to see faster contract turnaround. It’s also easy to quickly execute contracts that have multiple signers. After the first person signs, the electronic signature software automatically routes documents to the next signer in the workflow. And when you get documents signed in minutes, you can get paid faster than ever before. In fact, businesses in a variety of industries have reported that electronic signatures help speed up sales cycles by up to 400 percent.
Track Your Progress
It can be so frustrating to wonder, “Has he signed yet?” or “Did my fax go through?” You can say goodbye to those days if you adopt electronic signatures. Digital signature software makes it easy to track your documents in your online dashboard. And some software will even send signers a reminder email if they forget to sign.
Upgrade Document Security
In the paper world, you secure your documents by putting them in a locked file cabinet. You may even put that file cabinet in a locked room. But even with those precautions, someone could break in and tamper with documents. The only evidence you’d have would be a broken lock (if that), and then you would have to guess which file was altered.
This type of document security is a liability for your company, and it’s unnecessary. With advanced electronic signature software (a type of electronic signature called a “digital signature”), you can safeguard your documents with a high level of document security and evidence. Each signature is protected with a tamper-evident seal, which alerts you if any part of the document is changed after signing. Signed documents also come with a highly detailed log of events of the document’s lifecycle. Using this evidence, you can see when each person signed the document, which signers downloaded a copy of the finished document, and much more.
Learn more about the benefits of electronic signature software by downloading our free ROI worksheet. It's an Excel spreadsheet that uses your answers to simple questions to calculate the ROI of adopting electronic signature technology.