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Digital Signature Blog 2_0

5 Ways to Digitally Transform your Business with eSignatures

Nisha Pillay

Industries all around the world have stepped into an era of digitization, where age-old practices have gradually moved aside, quicker and more intelligent methods of working have surfaced. The face of business is continuously changing, and the last few years have seen a boom in the number of industries embracing the latest technological trends. Digital transformation has never been more significant, and it looks like there is no stopping it.

Over the years, there have been many breakthroughs in the field of technology for business. With newer tools introduced for enhanced business processing, every business tool and its functions vary from industry to industry – whether it is CRM, accounting tools, email marketing tools, or even Chatbots. Ultimately, the purpose of these tools is to help your business grow by reducing costs, saving time, and enhancing the customer experience.

One such tool that has made its way into business models is the Electronic Signature platform. eSignatures have steadily become one of the easiest and most secure means of executing contracts or agreements. It eliminates the hassle of manual follow-ups that involve multiple signatories and location constraints. Businesses are constantly evolving while trying to find ways of doing things in a quick, secure, and cost-efficient manner, and eSignature platforms offer just that. Electronic signatures have long been deemed as legally binding and are a sustainable way of moving your business forward.

Here are some of the significant ways eSignatures can help transform your business digitally:

Increased Speed and Productivity:

Signing paper contracts substantially increases the time taken to get into agreements and also slows down the delivery of services. With an electronic signature platform, the time and effort taken to get multiple signatures or approvals across the business is significantly reduced, making business processes faster than ever. The most notable benefit of eSignatures is the eliminated manual error rate that makes for a risk-free addition to any business.

Higher Cost-Savings:

The most apparent of the savings is the cost of paper and ink, printing, packaging, postage, and delivery/shipping. The cost of using paper itself, plus paying someone to perform these administrative tasks, can be extremely high. In addition to this, eSignature platforms help avoid costs of fixing problems that occur due to human error.

Enhanced Security:

Even with the increased speed and efficiency, electronic signatures are also the most secure way of signing documents. Paper documents with wet signatures can be easily forged and tampered with, making them an added risk factor to any organization. Electronic Signature platforms can track signed documents from the past, along with their matter, date and time stamp, and signatures. The auto-archive feature helps businesses keep track of what was signed, by whom, and when. eSignature platforms have robust audit trails that ensure each document and process is recorded to avoid customer disputes while mitigating risk.

Greater Flexibility:

eSignatures provide key benefits like -

  • Its ability to work on multiple devices;
  • Uploading documents from different apps including cloud-based storage; and
  • Its unrestricted scope to reach multiple signatories at the same time.

Improved Customer Satisfaction:

Every business is trying to win customers over with more straightforward ways of providing exceptional customer experience. Having a customer bend over backward to sign a few documents can prove detrimental to any business relationship. An easy-to-use solution like eSignatures can help eliminate the inconvenient and bulky process of signing hundreds of documents and replace it with a process that is speedy, safe, secure, and inexpensive.

The industry's focus needs to be consumer-driven, especially when businesses are opting for cutting edge technology to stay ahead of the game. In today's world, where the customer is spoilt for choice, customer expectations are continuously and rapidly evolving. Here is where the adoption of technologies like DrySign – Exela's Electronic Signature Platform can transform your business digitally without having to make excessive changes to your current systems or software.

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