Top 3 Ways to Optimize Document Workflow Automation Using E-Signatures
As businesses navigate the dynamic landscape of technology, one thing is clear: workflow automation has transcended its role as a mere task eliminator and has become the cornerstone of digital transformation. With each passing year, the significance of workflow automation grows exponentially, and 2023 is poised to witness an unprecedented surge in its adoption by companies seeking to unlock their full potential.
Why are organizations flocking toward workflow automation? The answer lies in its ability to skyrocket productivity, elevate performance, and slash operating costs. By embracing lights-out operations, businesses can optimize their return on investment and revolutionize their service delivery to end-users
In fact, the statistics paint a compelling picture. A remarkable 46% of respondents from larger companies, who have successfully implemented workflow automation, credit their leaders' understanding of the total cost of ownership for automation efforts. This strategic insight paves the way for reaping maximum benefits from automation initiatives. However, selecting the right software tailored to an organization's specific needs is equally critical for achieving optimal workflow automation results.
Why is workflow optimization important?
Every business, regardless of size or industry type, deals with large documents daily. Managing these documents efficiently can be challenging without the proper processes in place. Unfortunately, manual document signing and paper-based documents can lead to more errors, unnecessary costs, and delays. Thus, workflow automation is the only solution to streamline your documentation. Here are the reasons you need to optimize your document workflow automation.
- Improve Accuracy
Optimizing your document workflows allows for the integration of greater accuracy in your documentation. Even the smallest error in a document can cause delays and trigger a cascade of errors throughout the entire process chain. Automating workflows reduces the risk of human error and ensures that documents are handled consistently and accurately.
36% of business leaders say digital document processes ensure compliance and data security.
- Increase compliance
Automating your document workflows adds authenticity and integrity to your documentation, enhancing compliance efforts. It simplifies record-keeping, reduces the chance of missing or incomplete documents, and ensures adherence to industry regulations and legal requirements.
69% of employees say automation lets them focus on priority tasks rather than wasting time on paperwork.
- Accelerate processes and increase productivity.
Simplifying document management through automation speeds up processing times, freeing up valuable employee time for more critical tasks. Employees can focus on higher-priority activities by reducing the manual burden of document handling. Research shows that 55% of business leaders believe that digital document management processes can greatly accelerate document processing.
37% of business leaders say printing and storage costs can be greatly reduced by switching to digital documentation.
- Lower costs
Optimizing document workflow automation can lead to significant cost savings. Administrative costs associated with activities such as scanning, printing, and storing physical documents can be eliminated or reduced. Surveys indicate that 50% of organizations believe that transforming processes by digitization and automation can cut down on expenses and reduce labor demands.
Optimizing your document workflow with automation is not just a matter of convenience; it's a strategic move that can yield tangible benefits for your organization.
How do eSignatures facilitate document workflow automation?
Incorporating e-signatures into your document workflow automation can revolutionize how you handle documents and streamline your processes. With the power of secure and compliant electronic signatures, such as those provided by DrySign, you can enhance trust, protect your documents, accelerate repetitive tasks, validate signatures quickly, and gain flexibility across mobile and web platforms.
- Boost Trust and Compliance:
By employing an electronic signature solution from a trusted service provider like DrySign, you enhance the overall trust in your organization. DrySign offers 128-bit secure e-signatures that comply with various eSignature laws and certifications, such as the Electronic Signatures in Global and National Commerce (ESIGN) Act, the Uniform Electronic Transactions Act (UETA) and certified by Entrust, a trusted certification authority enabled by proven public key infrastructure (PKI) technology. This integration of end-to-end security and legitimacy instills confidence in your document workflows and processes. With security concerns addressed, you can accelerate your document workflow automation with fewer roadblocks and greater peace of mind.
- Protect Documents with Digital Signatures:
The risk of document misplacement or tampering in digital document workflows is a big concern. However, with eSignatures, you can efficiently send documents for signing and ensure their protection throughout the process. E-signatures guarantee that only authorized individuals can access the documents, reducing the chance of unauthorized alterations or tampering. With enhanced document security, you can maintain the integrity of your digital workflows and establish a robust chain of trust.
- Accelerate Repetitive Tasks:
Document workflows often involve multiple approvals and signatures, leading to potential delays and bottlenecks. E-signatures streamline these processes, significantly reducing the time required for document signing. With eSignatures, you can send, sign, receive, and store documents within minutes, eliminating the need for time-consuming back-and-forth exchanges. Some e-signature providers, such as DrySign, offer integration features with other applications, reducing the hassle of repeatedly creating and adding signatures. Additionally, you can invite multiple signatories to sign documents online, further expediting the signing process and enhancing productivity.
- Quick Signature Validation:
In certain cases, business agreements or contracts require re-signing due to changes in authorized personnel or negotiation alterations. E-signatures provide unparalleled convenience, allowing you to validate signatures with just a few clicks swiftly. This streamlined process saves time, eliminates the need for physical paperwork, and keeps your business moving forward seamlessly.
- Flexibility Across Mobile and Web Platforms:
The global pandemic gave way to an uncertain and often wobbly business landscape. But since then, organizations have embraced remote and hybrid work cultures. To enable remote employees to work efficiently, digital tools have become essential. E-signature solutions allow signing documents on the go using mobile devices and managing documents from anywhere, using any device and browser. This mobility empowers your workforce and ensures seamless collaboration, regardless of their physical location.
3 Best Practices to optimize workflow automation with an online digital signature solution
Streamlining your document workflow automation with e-signatures can revolutionize how you manage and process documents. To maximize this integration, consider the following three essential best to optimize your document workflow automation.
Map Document Workflows: Unlock Efficiency and Integrity
Mapping your document workflows allows your organization to understand better how documents are managed and the entities responsible for maintaining document integrity. Creating a well-structured document workflow plot allows you to identify key steps such as document creation, sharing, sending for signing, and storage. It's crucial to map out critical aspects like document accessibility, versioning, and who can make changes. A well-organized document workflow plot ensures efficient document management, improves collaboration, and minimizes errors.
Determine E-Sign Software Criteria: Choose the Right Solution
It is important to select the right software that aligns with your business requirements before you can fully harness the benefits of an online digital signature solution. By defining the criteria for your eSignature software, you can ensure that it meets your specific needs. Consider the following features when evaluating e-signature solutions:
Intelligent Dashboards: Gain a transparent view of your document signing history, document overview, and status tracking. Accessing real-time information allows for better decision-making and increased visibility into your document workflows.
Group Signing Features: Eliminate the hassle of repetitive processes by inviting multiple signatories to sign a document online simultaneously. This feature streamlines collaboration and accelerates the signing process for documents requiring multiple parties' input.
Real-time Mail Trails: Track your document status using comprehensive audit trails and solid time stamps. Real-time mail trails provide a clear and verifiable record of document activities, ensuring accountability and simplifying compliance.
Notifications and Reminders: Stay updated on your documentation by receiving timely notifications and reminders for document signing. This feature helps you stay on top of your workflow, ensuring that no deadlines are missed and processes run smoothly.
Security and Legitimacy: Safeguard your documents from security breaches and legal disputes. Look for e-signature solutions that offer robust security measures to protect the integrity and authenticity of your signed documents.
Define the E-Signing Governance Framework: Ensure Compliance and Risk Mitigation
To integrate e-signatures into your document workflows successfully, it's essential to establish effective communication with your legal teams. Different countries, organizations, or states may have specific rules and regulations governing using eSignatures. To ensure compliance and mitigate risks, consider the following:
Identify Usage Restrictions: Determine if there are any restrictions on e-signature usage in your industry, organization, country, or state. Understanding these limitations will help you navigate legal requirements and ensure your documents remain valid.
Approved Signing Authorities: Identify the approved signing authorities within your organization and establish the order in which they are authorized to sign documents. This clarity ensures that the signing process follows proper protocols and maintains legal validity.
Types of E-Signatures: Determine the different types of e-signatures required or allowed for your documents. Whether it's a simple electronic signature or a more advanced digital signature, understanding the appropriate types will help you choose the right eSignature solution.
Understand the scope: Conducting a preliminary check to understand what can and cannot be signed using electronic signatures is essential. While e-signatures are widely accepted for various document types, a few documents cannot be electronically signed. For example, as the National Telecommunications Information Administration (NTIA) outlined in the USA, eSignatures are not legally valid when signing: Wills and testamentary trusts or adoption papers.
By defining an e-signing governance framework, your organization can navigate legal complexities, ensure compliance, and minimize the chances of disputes or complications arising from your e-signed documents.
The Bottom Line
Optimizing your document workflow automation with e-signatures brings remarkable efficiency, reliability, and security to your organization. By mapping your workflows, selecting the right e-signature software, and conducting a preliminary check to understand the scope of electronic signatures, you can streamline processes, improve collaboration, and ensure compliance with legal requirements. Embrace the power of eSignatures to transform your document management practices and unlock the full potential of efficient and secure workflows.
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DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.