St. Patrick’s Day is synonymous with all things green, so SIGNiX fits right into this celebration. Our logo and our offices are splashed with chartreuse, as are our digital signature products. Still, the green we’re proudest of is the money businesses save when they adopt our e-signatures.
E-signatures hold a powerful ability to improve a company’s bottom line. Namely, e-signature software saves businesses money in many ways, including these three:
- Paper and related supplies. There’s a reason the paperless office movement is moving full-speed ahead—paper processes can bleed a budget dry. Companies have to pay for paper reams; envelopes; inks and toner for printers, copiers and fax machines; stamps and shipping costs; and courier services, to name a few. Done a few hundred or thousand times over, it gets very expensive. E-signatures keep transactions moving in the cloud with no need to be printed, meaning your paper-related supplies can stretch a lot farther.
- After documents are signed on paper, they continue to be a financial burden. For businesses in high-volume transaction industries—like real estate, financial services, healthcare, banking, etc.—files are often stored by third parties for several years. Even for documents physically stored on-site, you typically need to shell out money for new filing boxes or cabinets and shredding services. E-signatures keep your documents digital from start to finish, eliminating physical file storage costs.
- The physical effort behind a paper document’s signature may not be as obvious as a crew doing construction, but, like supplies and storage, it adds up over time and costs money. Employees spend time coordinating document signing; scanning, faxing and mailing documents; meeting signers in person; filing papers; opening envelopes; fixing errors; and more. This often takes time away from mission-critical tasks. E-signatures reduce the time it takes to process signed documents: They let people sign documents wherever they are and on any device, and they can alert users if documents are not in good order.
Just how much money can e-signatures save you?
While faxing, basic shipping, printing and scanning may cost just a few pennies or even dollars per transaction, they multiply quickly. Let’s take, for example, the paper load behind a typical 20-person company. On average, it:
- Signs 600 documents a month, which are about two pages (This is a conservative estimate, assuming each employee needs about one document signed each day.)
- Mails (basic service) about 30 documents a month. (5% of all documents that require a signature)
- Overnights about 12 (2% of all documents)
- Two-day ships about 12 (2% of all documents)
- Faxes 60 (10% of all documents)
- Scans 300 (50% of all documents)
- Physically files 300 (50% of all documents)
(Drum roll, please…)
With e-signatures, this company would likely save more than $12,000 annually on paper-related costs.
To learn how much your company could save, download our free ROI worksheet here.
The best is yet to come.
Not only will you be able to save money, you can invest those savings into other projects that support your business’ goals. In the spirit of St. Patrick’s Day, we think that’s a true pot of gold.
Nothing speaks louder than a real-world example. Read our case study from one of the world’s leading clinic research organizations to learn exactly how much money it saved by adopting SIGNiX Independent E-Signatures. Click here to download the case study for free!