With the lightning-fast pace of digitization, it is only natural that there is an unprecedented increase in the frequency and quality of online attacks. In addition, the COVID-19 pandemic has forced entire workforces to start working virtually. As a result, industries embracing the digital initiative have experienced resounding success. However, with this leap came the threats and increased risks of cyberattacks on their systems.

Organizations looking to prevent cyberattacks need a resilient and accessible cybersecurity strategy. The aim is to adapt to reinforce defenses and manage risks. However, many businesses find indulging in product innovation and embedding accurate security measures challenging.

Data is the new oil, an invaluable resource many want to pay big bucks for. Unfortunately, this has resulted in data breaches that have cost organizations millions of dollars and devastation.

Cybercrime costs can reach $10.5T annually by 2025 – Cybercrime Ventures

Information security is of prime importance and acts as a security moat against malicious actors. Once a cyberattack hits a business, it takes a considerable amount of material and physical resources to come out of it unscathed, especially in today's world with eyes and ears on every screen. However, by taking the adage 'prevention is better than cure,' companies can invest in simple solutions to strengthen their systems and avoid such security lapses. Two-factor authentication (2FA) is a simple method to prevent unauthorized system access. It provides users with an extra layer of security and helps them become more proactive before opening suspicious emails.

What is 2FA?

As cybercrime becomes more sophisticated, organizations must upgrade their legacy systems to counter it. 2FA helps employees in organizations prevent unauthorized access to their accounts, documents, etc. The fact is that if your security depends only on one password, then you can't really call it security. Most people are likely to set rudimentary passwords around birthdates, names, or names of pets, etc. Two-factor authentication (2FA) Two-factor authentication (2FA) provides your accounts with an extra blanket of security.

Even if a password is stolen, this method is a safe bet. Enabling 2FA will protect accounts from being used maliciously and help companies provide access to the right users.

Common Types of 2FA

• SMS Text-message and Voice-based 2FA

• 2FA is a text with a six-digit code sent to the employee's phone to verify their identity. It is better known and trusted due to the technology employed by major corporations. Similarly, a voice-based 2FA is where a user is called, and the one-time usable code is verbally delivered. For companies dealing with low-risk levels, this is all you need.

• Software Tokens for 2FA

• A software-generated two-factor authentication code that needs a software or mobile application to function. Companies highly value it due to the time limitation of the password. In addition, it deters online hackers and is available for wearables, desktop PCs, and smartphones.

• Hardware Tokens for 2FA

• A hardware token is a small, physical, two-step authentication device used to access electronically restricted resources. There are versions of hardware tokens that transfer the 2FA code when plugged into the computer or laptop’s USB port.

• Push Notifications

• Push notifications are sent by the website or mobile application to the user’s device. It alerts users of the attempt and asks them to approve or deny access with a single tap.

What are Electronic Signatures?

Electronic signatures or eSignatures are legally binding signatures organizations or individuals use to provide their consent on digital documents. They help curb the use of paper and enable users to be efficient and resourceful. They are the digital equivalent of wet or handwritten signatures and validate the identity of users. Electronic signatures also comply with major electronic signature laws worldwide, helping companies provide their consent from smartphones, workspaces, or any other location, legally and securely.

Electronic signatures serve as undeniable proof in digital documents. However, while digital signatures are effective against data tampering and impersonation, there are always limits. For example, valid signatures can fool users into trusting emails from unknown actors and have their information compromised. To counter this, 2FA is used to ensure data integrity and applications' security.

Also Read: How High-tech Industries can Benefit from eSignatures

How 2FA Secures Electronic Signatures

When you get a two-factor authentication with your eSignature account, you protect not only your digital documents but also your users and their access. With 2FA, you can decide which user gets the authority to edit the information, while others get Read-Only rights.

This helps companies in protecting their data successfully without too much hassle and control from their end. Even if most devices lack basic security, like anti-virus software, this method is an easy-to-integrate security step that helps in protecting users from malware.

Moreover, 2FA offers companies a solution that has a minimal impact on daily operations. The frictionless authentication allows users to access resources securely without cumbersome training sessions.

How DrySign is the Best Solution

DrySign is a digital signature solution that provides a single platform for electronically signing, sharing, and storing digital documents. Here are some advantages of DrySign that set it apart:

• Simple to Use – It is easy to use, allowing users to complete the entire process within minutes.
• Automates Workflows – DrySign automates the signature workflow of any document end-to-end by eliminating the need to print or manually handle paper at any point.
• Secures Signatures and Documents – It protects the document from mishandling, loss, and other risks. Moreover, DrySign digital signatures are encrypted and password protected as an extra measure against hacking attempts.
• Offers Convenience – Electronic signatures are highly convenient and easy to use, even for those who are not tech-friendly. They are used to sign all forms of digital documents from any device.
• Connects Business Operations – Electronic signatures help organizations reach across business departments and encourage collaboration.

Does DrySign Offer 2FA?

Electronic signatures like DrySign use two-factor authentication (2FA) and a one-time password (OTP) to limit document access. It provides access only to authorized users and complies with the latest laws and regulations in electronic signature globally to make online transactions secure.

In addition, DrySign is also compliant with the two primary electronic signature acts in the United States, the Electronic Signatures in Global and National Commerce (ESIGN) Act and the Uniform Electronic Transactions Act (UETA). Both laws enforce eSignatures as legally binding and applicable on forms, contracts, and other documents.

DrySign, a trustworthy and reliable electronic signature solution provider, helps companies keep their documents safe and easy to access. It helps prevent sensitive information from landing with the wrong people while maintaining secure records from start to finish.

Get the best of 2FA and digital signatures with DrySign.

Source: cybersecurityventures.com

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.

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From Sumerians to Egyptians, the evolutionary journey of signatures is incredible. Gone are the days when we were required to carry pen and paper to sign a document. Now we can sign any document on the go, from anywhere and anytime. For decades now, e-signatures have been helping organizations enhance and speed up their operations.

The e-signature technology became widely available and legal in the U.S. in 2000. In today's competitive market, e-signature software provides a comprehensive range of benefits and features to bring convenience, efficiency, and agility to business processes. For example, e-signature solutions essentially automate document workflows, allowing you and your team players countless free hours to focus on more priority and revenue-generating tasks - so that you can focus on actual business without worrying about document security and faster paperwork. In addition, you can save a lot on physical storage, which not only accounts for an additional amount but the space and security issues.

In a nutshell, electronic signatures reach far beyond signing. And to put it into perspective, we have put together ten impressive statistics that will blow your mind and keep you abreast of what's hot in this primary software niche.

1. Growth

The use of e-signature technology is growing at a high rate. As the need for digitization has skyrocketed in the last few years, modern businesses enter the market feeling the need to introduce digitization in their document workflows from the very start. Even legacy corporations have joined the throng going toward automation. As a result, almost every business from every industry, be it manufacturing, retail, education, healthcare, I.T., automotive, or even government organizations, is embracing digital signing.

• Global electronic signature transactions have risen from 89 million to 754 million over just five years.
• The global electronic signature market was valued at over four billion U.S. dollars in 2022.
• The e-signature market is anticipated to grow by over 35 billion by 2029.

2. Costs

Manual signatures mean putting pen to paper and distributing copies with multiple signatures from various individuals. Sounds complicated? That is because it is. And the costs associated with this method? You wouldn't believe it.

• The U.S. businesses usually waste $8 billion a year just on managing paper.
• Organizations embracing e-signature solutions reduce document handling expenses by 85%.
• Going paperless also helps organizations to save 80% on shipping costs, on average.

3. Workflow

We know H.R. departments spend hundreds of hours on recruiting and onboarding workflows, property dealers juggle rental agreements and maintenance requests, and healthcare staff is swamped with patient intake forms and physician licensing. These are examples of real-life workflows that are instantly advanced with the help of e-signatures.

• 65% of organizations using pen and paper reported that collecting physical signatures adds an entire working day.
• 48% of businesses said they make three or more copies of their documents.
• Research suggests that switching to e-signatures shortens the sales cycle by 400% and increases conversion rates.

4. Effective documentation

Effective documentation requires error-free data, an easy signing method, and effective document sharing and storage. Even the slightest error on a document or a signature error can take weeks or months to resolve. On the other hand, an e-signature solution allows you to digitally create your own signatures within a few minutes, with no shaky hands or signing in the wrong boxes. Moreover, you can find any document whenever you want with just a few clicks, as e-signature software allows easy cloud access where you can store all your documents.

• Electronically signing a document allows companies to witness an 80% reduction in signing errors.
• With the use of e-signature software, you can reduce the number of missing files by 66%.
• An astounding 92% of scanning errors are wiped out once you start signing online.

5. Performance

E-signature solution helps streamline your business processes, allowing users to focus more on priority tasks, improving their performance. The very definition of automation is to eliminate menial, time-consuming tasks, such as printing, document sharing, getting documents signed, and scanning. And e-signature solutions are star performers when it comes to performance and efficiency.

• Companies embracing electronic signatures show an 85% improvement in performance.
• After eliminating manual processes and adopting digital technologies, such as digital signature solutions, businesses can witness 70-80% improvements in efficiency.
• A study shows an average of 15 days faster contract turnaround time and 37 percent improvement in productivity with eSignatures

Also Read: E-Signatures: Here to stay? Or on their way out?

6. Customer experience

Customer experience (CX) is crucial to any business that wants to survive in today's competitive and customer-centric business world. Today, consumers are more likely to invest in brands that provide a quick, hassle-free experience. E-signature solution allows you to gain consumer trust by providing them with a smooth signing experience.

• Organizations embracing electronic signatures report a 500% increase in customer loyalty.
• A 2021 research shows 53% of businesses use online signing for improved experiences for stakeholders.
• At 61%, millennials lead the way in using e-signatures.

7. Increases ROI

E-signature drives value for each stakeholder in the agreement process, including employees and customers across sales, legal, H.R., and procurement teams. Online signatures help companies increase their ROI by saving time, improving efficiency, and increasing productivity and sales.

• According to commissioned research by Forrester, 32% of organizations report reduced completion rates and abandoned deals due to inefficient agreement processes.
• 81% of electronic signature business users experience an ROI in a 12-month budget cycle, while 25% have an ROI within three months or earlier.
• With eSignature, up to 80% of agreements are completed in less than a day and 44% in less than 15 minutes, organically driving ROI.

8. Time savings

Time is money! And money saved is the money earned! We are all well aware of this fact, so organizations strive to have streamlined and agile business processes. Here's how adopting an e-signature solution saves time spent on redundant tasks:

• With an electronic signature solution, you can open a bank account within just 8 minutes.
• You can save up to 22,000 hours annually.
• It might take a day or 5 to obtain a physical signature, with an eSignature solution, you can close an entire contract or agreement process end-to-end in just 30-40 minutes.

9. Turnaround time

Businesses today simply cannot afford to spend countless hours following up with a client to complete the documentation. Every second matters. Embracing an e-signature solution reduces the document turnaround time, ensuring completion of the paperwork as early as possible.

• Organizations integrating e-signature solutions in their processes observe an 80% reduction in turnaround time.
• 45% of companies spend a week just to sign a contract.
• The time customers or clients spend viewing and signing documents can be reduced by 40%

10. Environment-friendly

We have witnessed countless benefits of using e-signature technology, but have we considered its environmental impact? For instance, manual documentation requires a pen, paper, scanner, printer, storage, and transport facilities to share documents and obtain signatures. On the other hand, a digital signature solution eliminates the need for all these elements, allowing you to sign electronically. This, in turn, reduces the environmental impact of paper pollution, CO2 gases, toxins released during paper production, paper and pen waste, and more.

• E-signature solutions can save up to 2.5 billion trees in less than 20 years.
• Paper & pulp industries produce 100 million kgs of harmful contaminants like SO2, H2S, CIO2, and CO every year.
• Paper waste disposal & recycling is the main problem, as 40% of the total waste is paper waste contributing to 71.6 million tons of waste annually.

DrySign e-signatures to make you stand out!

DrySign, one of the leading e-signature solutions, provides the best-in-class features and a wide array of benefits to keep your business ahead of the curve, helping you stand out in today's corporate crowd. However, it has far more to offer than just the convenience of electronic signing. DrySign complies with e-signature laws and regulations, such as the Electronic Signatures in Global and National Commerce (E-SIGN) Act and the Uniform Electronic Transactions Act (UETA), to integrate end-to-end legitimacy in your documentation. Here's everything you should know about compliance and certifications of DrySign.

Compliance and Certifications

• PCI DSS

DrySign adheres to the recent PCI Data Security Standards (DSS) version to ensure the safe and secure handling of debit and credit cardholder information. PCI DSS is managed and enforced by the Payment Card Industry Security Standards Council (PCI SSC).

PCI certification ensures card data security through a set of requirements set by the PCI SSC that include:

• Installation of firewalls
• Encryption of data transmissions
• Use of anti-virus software

• Veracode DrySign

DrySign digital signature platform enables quick and secure e-signing, allowing the user to sign any document or get the document signed seamlessly. DrySign provides 128-bit secure e-signatures that abide by all the legalities. As a result, you only need a minute to sign and send a document via DrySign. In addition, the platform is cost-effective, prevents wastage, and reduces the carbon footprint.

• Veracode

Veracode performs both dynamic (Automated penetration test) and static (Automatic code review) code analysis to find security vulnerabilities, including any malicious code or absence of functionality that may lead to security breaches. The binary scanning approach of Veracode produces more accurate testing results with the help of methodologies developed and continually refined by a team of world-class veterans.

Conclusion

Amidst the conversations of paperless offices, e-signatures have been helping organizations streamline their processes for decades now. But e-signatures have far more to offer than just the convenience of electronic signing. The above-listed e-signature statistics must have given you an idea of how e-signatures can benefit businesses. DrySign, one of the leading e-signature platforms, provides a wide array of benefits to help simplify business operations. Start DrySigning now!

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.

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65% of United States-based businesses that use paper claim that getting physical signatures extends their workday by a full day.

Business efficiency relates to how much a company can deliver concerning money, resources, and time. The IT sector is technologically ahead in using software for handling complex code. But when it comes to handling the sheer volume of documents, it's mired in approval deadlock. This inefficiency can culminate in loss of revenue and prevent businesses from being profitable.

The IT sector has faced numerous challenges, including policy changes, economic uncertainties, the COVID-19 pandemic, and more. But its ability to weather them despite these unforeseen events has made it more efficient. During the COVID-19 pandemic, efficiency was hit due to low employee morale, decreased productivity, and salary cuts.

However, the IT sector rapidly adapted and embraced digital transformation initiatives to help employees focus. It deployed remote work policies and created a supportive work culture to help them regain their drive and create and maintain efficient processes. Organizations can measure the efficiency of a business in the following ways:

Types of Business Efficiency

The efficiency of an organization is measured in the following ways:

• Process Efficiency

• Organizations measure the efficiency of a process by its benefits to employees and the organization. A new method can help employees in their tasks and removes unnecessary roadblocks. It saves the organization time and resources.

• Operational Efficiency

• An organization's operations must run efficiently to produce output at the right time. An organization puts maximum effort into ensuring smooth operations and controlling unnecessary expenses.

• Financial Efficiency

• An organization needs to control expenses and generate revenue. How an organization makes the lives of its employees easier by dispensing money in the right resources is an accurate measure of financial efficiency.

• Energy Efficiency

• Organizations should embrace sustainable practices to be energy-efficient and curb costs. For instance, electronic signature solutions can help in organizing workflows and save time on asking for approvals.

• Labor Productivity

• This metric assesses the ability of an employee to produce output in an hour of work. All companies design processes to increase the productivity of employees. Automated equipment or software is integrated into operations to increase the productivity rate.

In order to achieve consistency in value, an organization needs to embrace efficient processes and achieve the right balance between efficiency and effectiveness.

How to Improve Business Efficiency

Creating a truly efficient business requires constant monitoring of trends and making periodic adjustments. Here are some suggestions:

• Automate Processes

• Automating routine processes save an organization's time and resources. Papers or documents can be digitized and archived on the cloud for faster retrieval. A simple, everyday activity like attaining signatures from multiple stakeholders can be time-consuming. In a manual process, you will need a secretary to take a bunch of documents from one desk to another for signatures. If the required personnel is unavailable, this could take days. An automated solution for this bottleneck can be eSignatures.

• Open Communication

• Managers have a good handle on operations but are oblivious to the pain points of employees. Keeping an open line of communication and a strong policy helps employees to air their grievances. It enables the organization to craft more inclusive processes and help employees be highly productive.

• Shorter Meetings

• Shorter meetings help employees stay prepared and contribute to the organization's plans. Scheduling short sessions will help employees plan agendas in advance and be productive.

• Reduce Interruptions

• Employees with uninterrupted work times are more productive and efficient. One strategy is to limit the number of meetings and minimize it to once a week. Using a tool that reduces the number of notifications during certain times of the day is highly beneficial.

• Reduce Multitasking

• Multitasking can reduce the productivity of employees. Giving employees uninterrupted time to focus on a single task can improve their overall performance and the business output as a whole.

• Follow Documented Practices

• Developing an account of tried-and-tested methods that have helped employees in the past can do the same for current employees. Documenting best practices enables managers in the IT sector and their teams to be on the same page.

• Create Supportive Policies

• Companies can extend support to employees to create a conducive work environment. They should focus on the well-being of employees to build a nourishing environment. A well-implemented policy will also help as more organizations adopt hybrid work policies.

39% of global firms have used eSignatures to improve productivity

Also Read: E-signatures: Impact on Workplace Productivity

Trends that can impact Digital Signature Use in IT

The COVID-19 pandemic has triggered digital transformation initiatives, with IT companies adapting quicker than most industrial sectors. Services that require signatures to advance work can be accelerated using electronic signatures. Here are some trends that could lead to the acceleration of digital signature adoption in the IT sector:

• Improved Features

• Electronic signature solutions continuously enhance features to make signing online convenient and straightforward for users. They also satisfy the need for advanced security to protect the integrity of digital documents. Multiple signatories can at once sign a document online. Real-time trails help employees keep track of the progress of signed documents. With more and more features and security being added to most online signature providers, it would be an irrational decision to keep it out of your offices.

• Policy changes

• Today, almost every nation uses and supports technology like eSignatures. While there is a varied degree of acceptance in each country, if you compare eSignature laws from around the world, you'll find they generally fall into three categories: Minimalist, two-tier, and prescriptive. Finding out what kind of policy your country follows is crucial when choosing your e-signature solution. Inclusions in policies and government recognition, however, is a trend that has undoubtedly accelerated e-signature use in business.

• Increased Use of Smart Devices

• Smartphones, laptops, and pads are now an irreplaceable part of any employee's workday, primarily if they work from a remote location. With policies such as Bring Your Own Devices (BYOD) embraced by major IT companies, there is an increase in eSignature use, allowing for a smooth experience for users.

• Digital Identities

• Digital identities have replaced physical identification. Secure digital signatures and digital signature certificates verify one's identity and enable signing documents electronically.

Efficiency looks different for each company. For instance, two companies in the IT sector can focus on different metrics to increase their efficiency. Each business must set a clear list of goals to improve efficiencies that must focus on rectifying any impediments.

DrySign, a trustworthy and reliable digital signature solution provider, helps IT companies perform beyond expectations. With over 40% of clientele from various sectors of the IT industry, DrySign is one of the most easy-to-use and budget-friendly digital signature tools out there. Organizations, irrespective of their size, can use DrySign to sign documents electronically, quickly, and securely!

Get all your e-signing needs completed with DrySign.

Source: llcbuddy.com

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.

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It's a truism that the COVID-19 pandemic has dramatically changed our lives – from unusual working styles and elevated digitization practices to the ubiquity of teleconferencing. However, what we are seeing is just the tip of the iceberg. Perhaps the most significant change has been seen in the healthcare sector – transitioning from tedious, lengthy processes to fast, automated ones.

The application of digital tools in the healthcare sector promises to significantly speed up the progress of the healthcare system – with enhanced patient experience, improved provider experience, and reduced costs. However, digitization isn’t just about using technology; perhaps, it’s an entirely new way of working that requires long-term vision, leadership, and accurate planning.

Having said that, a new wave of innovation and digitization of day-to-day activities has taken the healthcare industry by storm, accelerating the pace of several trends. One such trend is the integration of digital signatures. Considering the amount of paperwork signed in the healthcare industry on a daily basis and the urgency to get them signed within a short span, e-signature integrations are coming to the foray. Healthcare leaders are increasingly moving towards trusted digital technologies to digitize and automate their HR processes, patient intake forms, and back-office contracting processes. Nowadays, thousands of healthcare providers rely on electronic signatures to improve patient experience and create automated workflows.

Employing digital signatures enables you to:

• Reduce the possibilities of human error.
• Reduce the amount of time patients spend waiting in long queues.
• Manage paperwork efficiently and effectively.
• Secure patient data.
• Increase operational efficiency.

Digital Signature Use Cases in Healthcare Companies

There are several applications of e-signatures within the healthcare sector. Here are a few:

• Approve and sign prescriptions, patient intake and discharge forms and timesheets.
• Conduct a fully digitized staff onboarding process, including offer letters and training documents
• Facilitate the clinical trial forms regulated by health agencies.
• Expedite patient consent forms.
• Enable faster billing for Medicare.
• Process insurance forms.

A healthcare company comprises various departments, such as legal, finance, and service teams. Often due to paper-laden processes, these departments fall short of time, commit errors and disrupt patient and caretaker experience. With the help of digital signatures, you can streamline your entire process and provide your patients with a smooth, organized experience.

Also Read: eSignatures - Positively Transforming Customer Experience in the Hospitality Sector

DrySign e-signatures

The healthcare industry is fast-paced and dynamic, where providing the very best service is not an option but a necessity! Providing high-quality care requires healthcare providers to have their paperwork in order. DrySign automates the signing process, helps streamline workflows, and eliminates dependency on paper forms. With DrySign, healthcare professionals can speed up patient admissions and payments and store all documents online for easy access. DrySign has many salient features that make it a reliable and user-friendly e-signature partner. This blog talks about how an e-signature solution can quickly be adopted into the cogs of a healthcare organization.

There are billions of documents flowing in and out of hospitals and pharmacies daily at a languid pace. Traditionally, patients have been standing in long queues waiting to receive and sign patient consent forms, hospital admission forms, patient intake forms, prescriptions, bills, etc. A digital signature solution with features that eliminate manual handling and improve digital coordination is the perfect solution to this challenge. Here are a few document workflows that become seamless once you partner with DrySign.

• Faster patient admissions and discharge

• The healthcare sector primarily works under stringent working conditions and has a constant demand to process urgent paperwork. Treatments cannot be delayed, and online signatures and digital documentation can accelerate the process. From hospital admissions to discharge, all the paperwork can be swift and rapid with minimum manual handling.

• Electronic prescription/ E-prescriptions

• Since the pandemic, everything has been so uncertain – including our health conditions. The outbreak has pushed e-appointments and e-prescriptions to the fore. Patients don't need to go to the hospital physically unless it is critical. The situation elevates the need for e-prescriptions, and there is no doubt that doctors must sign prescriptions before sending them. With digital signatures, doctors can sign and share e-prescriptions within no time.

• Maintaining medical history

• For decades, hospitals have followed the practice of maintaining patients' records in paper form. To look for any particular medical history, you would be led to a room with more giant paper stacks. Furthermore, maintaining manual medical reports invites additional shortcomings – loss of data, breach of sensitive information, misplaced documents, unauthorized access, and more. With digital signatures, you no longer have to deal with manual records. Instead, you can sign, share, and manage documents on the go. Moreover, it allows you to track your document status, saving you all the trouble of following up.

• Stocking up medical supplies

• There will be multiple instances where you may face a shortage or need to order medical supplies, which requires paperwork and signatures from various entities involved. With traditional documentation, the situation is more likely to cause a delay, as it can take days or weeks for a manual process to be completed. However, when digital signatures are the spine of your documentation, you never have to wait too long for paperwork. Getting the paperwork done takes just a few minutes with electronic signatures. The best part, you don't even need to be present at the hospital or pharmacy to get the documents signed; you can do it from the comfort of your home.

More DrySign Benefits

• Reduced time and effort

• DrySign allows you to invite one or more people to sign a document using the Group Sign feature. Using this feature, you don't have to get signatures from every signatory separately, saving you countless hours and efforts spent on getting documents signed. In addition, the DrySign Group Sign feature allows you to set priority for signatories, helping you manage your signing preferences.

• Increased accuracy and consistency

• As you no longer have to share documents separately with every signatory, you can maintain accuracy and consistency in document signing.

• Enhanced security

• It's no secret that digital signatures are the safest form of signatures. DrySign provides 128-bit secured signatures to integrate end-to-end security in your documents. In addition, DrySign allows you to add a password to your document, preventing further alterations.

Common patient forms that can be signed digitally:

• New patient intake form
• Patient rights and responsibilities
• Patient information and policies
• Financial Policies
• Consent to treatment
• Patient informed consent
• Health information release authorization
• Medical records release form
• Notice of privacy practices

Conclusion

Healthcare executives have always chosen to research and explore their options for finding and scheduling medical services. However, the changing times and technologies have changed how consumers make their healthcare decisions. Digital experience in a patient's journey plays a huge role.

To stay ahead of the curve in today's competitive market, practitioners have no choice but to provide an experience per consumers' changing preferences. Embracing digital signature solutions enables healthcare providers to deliver an efficient digital experience. DrySign, a leading eSignature provider, has a wide range of features that will streamline your processes, helping you scale consumer experience. Get DrySign today!

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.

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Logistics is the bloodline of any major organization looking to trade goods faster and reach customers quickly. In an age dominated by e-commerce, speed is of the essence. The speed of delivery is seen more as an absolute necessity than an expense. As a result, logistic solution providers focus on delivery and chasing customer delight – a vital metric to survive in the business.

The global logistics market is valued to reach $8.4 trillion – Statista

However, many logistic companies need help achieving this metric due to mountains of paperwork, complicated workflows, and legacy software. Logistics plays a significant role in supply chain management. It optimizes available resources and sheds unnecessary expenses. An efficient logistics solution can extract maximum customer profits and integrate technologies to eliminate inefficiencies.

Logistic providers rely heavily on paper documents to track and accurately store goods. Therefore, proper records management is pivotal for logistic solution providers to maintain their supply chains.

List of Common Logistics Documents

Documents play a significant role in any company. In a logistics company, they are even more critical. Manual record-keeping and document management can slow down processes and severely impact the supply chain if not handled well. Here's a list of documents that logistic providers use on a daily basis:

• Certificate of origin
• Cargo insurance certificate
• Packing list
• Commercial invoice
• Freight bill
• Waybill form
• Customer Agreement
• Delivery note
• Bill of landing
• Consignment Note (CMR)
• Dangerous goods declaration note

A logistics company needs an efficient document management system to store all documents in a central repository. This aids logistic solution providers in accessing the information from any location and eliminates the risk of harmful or damaged data. Logistic companies face a fair share of challenges, such as traffic congestion, severe weather, the COVID-19 pandemic, and damaged goods in transit. Furthermore, if the goods consignment does not come with all the necessary documentation in the proper order, it could spell disaster for the company.

Challenges for the Logistics Industry

The logistics industry has become highly central to every country's economy. The role of a logistics company is to store and package goods and ship them to customers on time. It is a business that supports every other business. The industry depends on many outlying conditions, such as transport vehicles, road conditions, weather conditions, etc. Here are a few of the challenges that the logistics industry faces today:

• Lack of Automated Technologies

• Traditional supply chains were unable to handle customers' requirements during the COVID-19 pandemic, with good reason. Many small and big businesses suffered as movement came to a halt, and the only way to get on with daily business was to go digital. At every step in the logistic process, automated technologies can seamlessly handle repetitive tasks allowing companies to focus on core tasks.

• Pressure to Deliver on Time

• Logistic companies face immense pressure to deliver on time. Changing competitor prices, fuel prices, and fluctuating tariffs can derail operations in minutes. Companies looking to succeed need to be efficient in delivering end-to-end processes and accessing information in real time to make the right decision.

• Warehouse Upkeep and Maintenance

• Warehouses are required to keep the inventory stocked and accessible at all times. If a warehouse is unable to keep stock of its goods with the proper documentation, it can lead to heavy losses. This job is made easier by eliminating paper documents and moving over to digital workflows.

• Managing Customer Expectations

• Today's customer is used to a certain level of convenience in a digitally connected world. Logistic companies need access to real-time information and feedback in the supply chain process to achieve and keep customer experience high.

Digitization of the Logistics Sector

The prolonged dependency of the logistics sector on paper contracts is one of the main reasons it continues to endure some of the challenges we read about earlier in this blog. However, a digital overhaul of processes and technologies can help it become more efficient and fill workflow gaps.

Logistic firms can digitize, store, and access information using various ways and solutions. With more than enough technology for everyone, we made a brief list of solutions that a logistics company can benefit from with minimum investment.

Digital solutions like customer relationship management software, document tracking software, and electronic signatures can help any logistics business to be more efficient and empowered to scale. For example, electronic signatures like DrySign assist logistic firms in fully migrating all necessary and complementary paperwork online. In addition, it offers a cost-efficient and convenient method to handle tedious and time-consuming tasks. This tool can help firms to collaborate with partners, improve processes, and protect the bottom line.

Also Read: How eSignatures can Accelerate Growth for Enterprises

The Role of DrySign

DrySign, a trustworthy and reliable electronic signature solution provider, helps logistic solution providers manage their workflow. Here's how it provides an advantage:

• Complete Transparency

• Electronic signatures provide a clear real-time trail to documents and access by various stakeholders. Critically sensitive documents are signed before the consignment is delivered, making all parties accountable equally. In addition, it improves the supply chain by providing transparency over the whole documentation process from when goods leave the supplier till they reach their destination.

• Eliminate Operational Inefficiencies

• Stakeholders involved in logistics need to sign contracts or agreements in person to ensure shipments get delivered on time. However, this increases the operational costs of all parties. Electronic signature solutions can allow all stakeholders to give their approval from their respective devices without having to be physically present.

• Ensure Compliance

• DrySign complies with the latest electronic signature laws and reduces the hassle of keeping track of paper documents. eSignature solutions ensure that all documents are legally compliant and are court admissible.

• Heightened Security

• Electronic signatures offer better security than wet signatures. An eSignature can prevent forgery or fraud by employing two-factor authorization (2FA) to protect customers. DrySign helps logistic firms deliver to the right customers and authenticates their identification through an eSignature for faster processing.

• Improve Productivity

• DrySign helps logistic solution providers in increasing their productivity. It allows companies to focus on last-mile delivery and enhance customer satisfaction. Staff members can cut down on managing documents and turn their attention to attracting and retaining customers.

• Be Paperless

• DrySign assists logistic providers in cutting down on paper use and digitizing their data. This decreases the clutter and cuts down on errors.

Closing Thoughts

Today's customers need businesses that offer digital solutions. E-signatures provide transparency to logistic providers and help them be on top of their documentation. In addition, logistic solution providers can utilize eSignatures to streamline their work and focus on delivering goods and retaining customers. For logistic providers looking to add more efficiency in terms of processes and cost, DrySign is your best bet.

Source: statista.com

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. 

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The automotive sector has prided itself on delivery. When customers needed petrol cars, the automobile sector delivered. When they required audio systems, the industry delivered. When customers asked for more speed, the sector delivered as well. So why is it that when customers need their buying journey to be just as smooth, the industry is hesitant?

The global automotive motors market size was estimated at USD 29.2 billion in 2021, and it is
expected to reach around USD 41.66 billion by 2030.

The automotive industry has leveled up continuously to deliver high customer satisfaction. When greener options arrived to disrupt the industry, major automotive manufacturers welcomed the move and developed electric cars in anticipation of the future. The customer buying journey is the last leg and possibly the most important one for the sector.

When buying a car in the US, you will go through the following steps:

1. Looking for cars and obtaining several offers
2. Test drives
3. Additional checks (vehicle documents, vehicle history, independent inspection)
4. Price negotiation
5. Signing the purchase contract
6. Payment
7. Vehicle registration with the DMV in your US State

More than 50% of this journey is ridden with paperwork, contract signing, document checking, etc. Unfortunately, the customer journey tends to be a long, stretched-out, paper-laden workflow that has become a deterrent for most buyers. The digitalization of processes at an unprecedented scale makes you wonder why automakers are still holding onto legacy solutions. However, it's not all their fault. For decades, customers have preferred to buy new or second-hand cars by checking everything physically and doing manual paperwork.

To counter this, many industry leaders have gone digital with their paperwork. However, printing, scanning, and shredding are still a large part of the workflow in this sector. Electronic signature solutions help automotive dealers and manufacturers completely digitize their paper workflows. The traditional paper process has various administrative hurdles when onboarding new customers. But digitization helps simplify all processes by allowing users to sign, send, and store documents digitally. Additionally, it offers customers a unique user experience in their buying journey.

The Current State of the US Automotive Industry

The United States boasts of a highly accessible road network globally, which is responsible for the high sales of cars. The increased demand for vehicles fuels the automotive industry in the country. However, sales have been nose-diving as of late. As per the J.D. Power U.S. Sales Satisfaction Index, customers are more comfortable with online buying. In addition, most customers prefer completing the purchase paperwork online.

Global automotive sales reached 66.7 million units. – Statista

Gone are the days when you would have customers wander into a dealership, check out each vehicle, speak to the salesman for hours, take a couple of test drives, and finally make a decision. Today, car salespeople must make an extra effort and provide top-quality services such as home visits, online documentation, and in some cases, even online vehicle selection, also known as special orders. Special orders could prove pivotal in driving sales in the region. Per the J.D. Power U.S. Sales Satisfaction Index, special orders led to higher sales satisfaction than buying directly from the dealer's lot.

Online visits to carmaker websites have seen an uptick due to the COVID-19 pandemic. Digital retailing has picked up, with many buyers comfortable browsing for cars online. As per the same survey, nearly 18% of buyers completed their paper purchase work digitally, indicating that customers are comfortable with digital agreements and an end-to-end digital process.

Electric Vehicles (E.V.s) to be a Game Changer

Electric vehicles (E.V.s) promise energy efficiency and independence from fossil fuels. As a result, they have garnered increasing interest from various consumers. According to the EY Mobility Lens Consumer Index, 41% of consumers plan to purchase an E.V. as their next car. In addition, an upcoming trend states that customers prefer traveling by personal vehicle rather than relying on public transportation.

Many E.V. startups like Lucid Motors Inc. choose to approach and sign up potential customers through online modes. And this is only possible when electronic signature solutions are introduced.

Government Support for Paperless Transactions

Whenever there is talk of new technology that has the potential to positively impact the world or a country, governments must step up and provide the population with the right tools. In short, government support for new technologies is instrumental in their implementation. Likewise, customers are powerless without government support. Thankfully, the US Government has made it easier and safer for the public to adopt end-to-end digital workflows.

• The California Department of Motor Vehicles has accepted digital signatures for vehicle purchases. This will help buyers in purchasing their vehicles online. In addition, with the updated rules by the National Highway Traffic Safety Administration (NHTSA), customers can take advantage of the new technology and digitally complete the buying process.

• The ESIGN Act is a federal law passed in 2000 granting legal recognition to electronic signatures. UETA, a precursor to the ESIGN Act, was introduced in 1999 and adopted by 47 US states, the District of Columbia, and the US Virgin Islands. Among other things, UETA provides that when a signature is required, an electronic record or an electronic signature can satisfy that requirement when the parties to the transaction have agreed to proceed electronically. These Acts solidified the legal landscape for using e-signatures in commerce by confirming that they carry the same weight and have the same legal effect as traditional paper and wet ink signatures.

How Electronic Signatures Shape the Future of Mobility

Electronic signatures, or eSignatures, help automobile dealers and manufacturers transition to paperless environments. It is a convenient tool to improve customer experience. Electronic signatures enable storing and archiving documents digitally, with a real-time trail helping track any document changes. These are some of the use cases that will benefit dealerships and manufacturers:

• Close Deals Faster:

• Electronic signatures help dealerships close deals much faster. It makes signing documents quicker and empowers salespersons to receive signatures quickly.

• Automate Agreements:

• Electronic signatures assist automakers in using templates to send documents in bulk and immediately. These include purchase orders, vehicle quotations, and contracts.

• Quality Check Documents:

• Paper documents have been notorious for costing departments heavily. Its errors have cost companies contracts and deals. Electronic signature solutions help dealerships cut errors by more than 90%.

• Improve Visibility:

• eSignatures help dealerships and customers gain transparency in the process. A deal will be considered closed only after the consent of all parties involved. One cannot tamper with an electronic document once it is e-signed.

• Collaboration with Partners:

• Automobile dealers can easily collaborate, share and sign documents online with car distributors and manufacturers.

• Digitize Workflows:

• Digitization of workflows will help strengthen collaboration and improve efficiency across all channels. Departments within dealerships can exit silos and get an approval immediately. Any roadblocks can be identified and resolved thanks to a completely digital process.

Also Read: Recession Rumors Setting You on Edge? E-signatures Help You Bring Down Expenditures

The Role of DrySign

DrySign, a trustworthy and reliable electronic signature solution provider, will help the automotive sector change gears quickly in today's dynamic digital world. Here's how DrySign provides an advantage:

• Minimizes Errors

• The automobile industry deals with large volumes of paperwork. The sheer volume can lead to missing pages and signatures, misfiling, etc. A missing signature can delay processes and cause customer frustration. DrySign ensures that all signature fields are visible and customers miss no spaces.

• Highly Convenient

• Customers can utilize electronic signatures on the go. This means customers can sign papers anytime, anywhere, from any device. DrySign provides ease and convenience to customers while helping create a simple sales process for dealerships.

• Blazing Speed

• Speed is of tantamount importance, and DrySign displays its value by assisting salespersons in engaging with customers in real time. It provides a seamless signing experience and ensures a timely purchase that does not waste the customer's time.

• Advanced Security

• DrySign protects sensitive documents by offering security methods such as two-factor authentication (2FA), one-time password (OTP), and others to prevent unauthorized access. It allows real-time document monitoring through mail trails and lowers the chances of fraud.

• Legally Compliant

• DrySign complies with the US ESIGN Act and the Uniform Electronic Transactions Act (UETA). This lets automotive dealers and customers trust the eSignature solution for real-time transactions.

• Paperless and Sustainable Solution

• DrySign helps automotive dealerships eliminate paperwork and curb spending on unnecessary expenses.

Closing Thoughts

Electronic signatures will help the automotive industry navigate hurdles caused by manual paper workflows. Switching to eSignatures reduces errors, saves on costs, and enhances speed and security.

Reimagine Customer Experience with DrySign.

Source: azom.com | jdpower.com | statista.com | dmv.ca.gov | ey.com

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.

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In 2023, remote work is not unusual for employees. The pandemic forced organizations to revamp their workflows almost overnight. As it stands, the stability brought into the lives of office-goers with a forced Work-From-Home was a big eye-opener. Employees were able to strike a perfect balance between their professional and personal lives. Unfortunately, even technologically-advanced organizations needed more bandwidth, understanding, and time to pivot to remote work at the start.

Almost three years later, we can safely say that big and small businesses have successfully created a bridge between remote work and on-site presence - Hybrid Work!

Nearly 53% of U.S. workplaces will provide employees with a hybrid work culture. – Gallup

The Shift to a Hybrid Work Culture

The hybrid workspace model is a blend of in-person and remote workers, wherein employees can split their work time between in-office work and working remotely. The hybrid work culture model allows employees to work in varying environments, such as co-working spaces or their homes. Employees are free to work in an environment and location of their choice as long as they remain productive and responsible. With the global workforce demanding increased flexibility and convenience, hybrid work culture is a reality accepted by most organizations.

Benefits of Hybrid Work Culture

With the rising popularity of hybrid work culture, both employees and business departments must step-up to keep pace with a new normal. While there is no one-size-fits-all model, companies have had to experiment and find the solution that works best for them and their employee force. Here are six major benefits of adopting the hybrid work model that every employer must be aware of:

• Increased productivity

• In a hybrid model, flexible hours and a change of environment increase an employee's focus. When your workforce has more flexibility, they're more likely to balance their workloads, take ownership, and concentrate harder on their work.

• Reduced Infrastructure Costs

• Office rentals can cost an arm and a leg, but the hybrid work model can save the company from massive overhead costs such as real estate, electricity, office supplies, etc

• Access to Global Talent

• A hybrid work culture allows HR leaders to find the best people from any corner of the world for their organization. HR teams can now access talented and ambitious people from any walk of life and location through the hybrid work model.

• Redefine Collaboration

• Hybrid work needs companies to undergo digital transformation allowing them to unite, engage, and support teams spread out in various locations. Employees no longer need to be in the same room to brainstorm and work together. Instead, they can communicate and collaborate from any location with the adoption of modern technology tools like digital signatures, virtual meeting platforms, etc.

• Improved Mental Health

• Working full-time from home or the office can be isolating and stressful. Being isolated can negatively impact the mental health of the workforce. A study by The Economic Times suggests that 9 in 10 professionals believe hybrid work is essential for work-life balance.

• Smooth Onboarding and Offboarding

• Manual onboarding and exits were commonplace in pre-pandemic days. Since the days of remote work, many companies have implemented policies to automate onboarding and offboarding workflows. Once again, digital signatures are a tool that allows getting online signatures from future employees.

• Easier for Companies to Scale

• Companies with digital workplaces in their business model witness higher earnings and growth. They can scale faster with access to more expansive talent pools and a more modern approach.

Companies are focused on automating the workflow of time-consuming manual tasks. Digitizing such solutions will improve productivity and collaboration. For example, digital or electronic signatures can digitize signatures and approvals. As a result, digital signatures are now imperative in daily operations and assist with crucial functions like onboarding, offboarding, and end-to-end process management.

Also Read: How eSignatures Enable Remote Work to be a Success

How Digital Signatures Can Help HR with Hybrid Culture

Digital signatures are a substitute for manual or wet ink signatures on documents such as contracts, agreements, etc. They operate using public key infrastructure (PKI) to provide advanced security to the digital documents and signatures of all parties involved. Electronic signatures benefit HR leaders in the following ways:

• Saves Cost and Time

• Digital signatures save expenses on printing, scanning, and sending physical documents costs through the mail. With the help of online signatures, HR managers can collect signed documents even if employees work from geographically diverse areas. In addition, HR teams can save time by asking for immediate signatures on sensitive or essential documents.

• Encourages Collaboration

• Digital signature solutions allow for collaboration across departments within an organization or between external heads. Transparency can promote a flow of ideas and lead to honest communication.

• Minimizes Human Errors

• Digital signatures eliminate human errors and inaccuracies seen in physical documents by automating the entire signing process.

• Improves Efficiency

• HR managers can witness enhanced efficiency in their workflow due to fewer lags and significantly shorter waiting times. Digital signature solutions contain features for tracking and archiving documents with ease.

The Role of DrySign

DrySign, a trustworthy and reliable electronic signature solution provider, can help HR leaders digitize the signing process. The implementation of e-signatures has led to a positive impact on productivity, efficiency, and engagement. Here's how DrySign provides benefits to HR leaders.

• Bulk Sending of Documents:

• HRs can send digital documents to multiple employees in minutes, remotely. For example, HRs require employees' signatures on various employee benefits and medical insurance forms. They can effortlessly obtain e-signatures on numerous documents by uploading the list of all signatories.

• Advanced Security:

• Digital signatures can provide additional security to digital documents by fortifying them with two-factor authentication. This helps in preventing malicious actors from gaining access to sensitive documents.

• Complete Transparency:

• E-signature platforms can help track the progress of signing sensitive documents. A real-time mail trail provides transparency on all signers' details and any documents' modifications. They make all actions taken by stakeholders visible and make them traceable.

• Flexible and Efficiency:

• HR leaders can use DrySign to collect signatures from any device, at any time, instantly.

• Templates on Frequently Used Documents:

• You can upload templates on the DrySign platform for frequently used documents. This helps in saving the valuable time of HR teams.

• Smooth Document Flow:

• DrySign streamlines the entire documentation process and ensures all documents are signed and stored in a central repository for the long term. It helps HR managers to access documents at any time.

• Ensures Compliance:

• DrySign complies with electronic signature laws in the U.S. and other parts of the world, like India, the UK, and the Philippines, and helps all stakeholders adhere to terms and conditions in contracts, agreements, and deals.

• Go Paperless:

• DrySign helps HR and other teams to maintain paperless and mess-free office spaces.

Closing Thoughts

Digital signatures are here to stay in an increasingly digital world. Companies implementing digital technologies to stay focused and transform their operations are seeing the results already. However, organizations must deal with sudden disruptions to business, the economy, and life, in general. Electronic signatures have played the role of a tool so imperative for digital documentation allowing companies to put their confidence in remote and hybrid work models. For HR leaders looking to digitize their signing process, DrySign is the way to go.

Source: gallup.com

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.

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Enterprises have always relied on paper documents for conducting daily business. However, procuring business documents can be a tricky affair. It includes checking for any errors or misspellings. Not to mention the printing and posting costs that increase the overhead costs for a company of any size. This is where modern automation technology like electronic signatures can be a game changer. Electronic signatures or eSignatures can digitize the entire signing process.

Electronic signatures can simplify operations and provide advanced security against online risks. With various countries backing the technology by making it a law, businesses adopting it will be at the forefront of the competition. An electronic signature solution will allow companies to digitize all documents and attain signatures from all stakeholders from any location or device.

Businesses using eSignatures have experienced a reduction in turnaround time (TAT) by 80%.

Electronic signatures bring convenience and ease of use to any process, and are a valuable asset for organizations of any size. The bigger the size, the more pivotal it becomes to have documentation in order. It has many use cases, including the online signing of purchase orders, hiring papers, contracts, invoices, and other related documents.

The Road to Digital Transformation

Organizations, irrespective of size, need digital technologies to leapfrog ahead of the competition. As a matter of fact, today, digitization is required just to stay in the game. This was proved during the COVID-19 pandemic, as many organizations decided to let go of legacy processes and implement digital strategies to facilitate remote working.

Electronic signatures benefit organizations looking to save on business time and reduce the turnaround time for approval. In addition, with companies looking to assess and evaluate the pros and cons of technologies, e-signatures are a good fit and start for any firm looking to attain good returns from their investments in established technology.

How Government Policies Encourage eSignature Adoption

Electronic signatures have had legal recognition in many countries since as early as the 2000s, for example, in the USA, the Philippines, India, etc. But many governments have been slow in recognizing its importance. Many countries, for example, Indonesia, have only recently understood its benefits and established laws to make esignatures viable as late as 2016.

Government regulations such as the Uniform Electronic Transactions Act (UETA) and the U.S. ESIGN Act have encouraged eSignatures to replace wet ink signatures. In addition, the laws recognize them as legally valid, holding the same legal value as a handwritten signature.

Electronic signatures are legally valid if all stakeholders sign them with the same intent. Therefore, businesses agreeing to an electronic agreement must willingly and knowingly consent to sign electronically. This also helps enterprises optimize their signature and documentation process by making it more customer-friendly and convenient.

Over 90% of the U.S. represent small and midsized enterprises

How eSignatures Help Small and Midsized Enterprises

Small and midsized enterprises (SMEs) are responsible for creating the majority of jobs in the USA. In addition, they contribute to innovation in processes and technologies. However, the pandemic threw everything in the air and caused uncertainty for many SMEs. This is evident by the impact of the COVID-19 pandemic on them. But digital technologies like eSignatures can help them adapt to the changing business environment. Here are some ways:

• Hiring – Human resource processes can be paper-intensive. These processes involve filling up numerous forms such as social media policy, a non-disclosure agreement (NDA), an offer letter, and so on. Electronic signatures can automate the entire process and save on printing costs and TATs.

• Agreements – Small and midsized firms can now negotiate with vendors and distributors via an electronic contract. Trusted eSignature solutions like DrySign help firms sign sensitive agreements and contracts safely and instantly.

• Sales – Sales are an SME's central revenue-generating unit and bloodline. But what do you do if your sales team is always busy filling up clients' paperwork rather than chasing leads? Electronic signatures have been beneficial in converting leads easily and simplifying paperwork such as proposals, quotes, invoices, and other agreements.

How Large Enterprises can Benefit from eSignatures

Unlike SMEs, large enterprises have the capital to adopt the latest digital technologies. Here's how eSignatures provides the necessary advantages:

• Saves Time :

  Electronic signatures accelerate the agreement or contract signing process by making customer interactions more efficient. It eliminates the need for paper documents and allows companies to save time by transitioning to digital documents. In addition, they provide great flexibility in multitasking between projects and help streamline the workflow.

• Saves Money :

  Large enterprises can save money by integrating eSignatures. With many companies deciding to go lean to maximize profits, electronic signatures are a good fit. In addition, they help curb expenditures concerning printing, scanning, and storing documents.

• Improved Document Accuracy :

  Enterprises can put as many fields in forms to collect the most accurate data. This helps enterprises gather the exact data and not chase customers.

• Enhancing Efficiency in Workflow :

  Companies can enhance the efficiency within internal processes by shifting to digital documents. Moving from paper to digital methods can streamline workflows and ensure your teams concentrate on value-generating tasks instead of paper-pushing.

• Simplify Document Management :

  Large enterprises deal with many clients and possess many documents. eSignature solutions help organize documents digitally and store them in archives for later use.

• Encourages Collaboration :

  Electronic signature solutions can encourage collaboration within departments and partners to resolve a customer's pain point. By bringing automation to workflows, they can improve productivity and eliminate errors. It reduces repetitive tasks and helps companies complete tasks remotely.

• Reduces Risk:

  Electronic signatures are more difficult to forge and highly secure than handwritten signatures. They are encrypted during transit to stakeholders and protect users from unauthorized access, which is a genuine risk regarding manual documentation.

• Superior Customer Experience :

  eSignatures can allow customers to sign documents on the go making it convenient and simple for customers to interact with your business.

Also Read: How eSignatures Impact Workplace Productivity

The Role of DrySign

Electronic signatures can transform any business, whether a multi-national legacy business or a small, budding start-up. It helps them achieve their goals faster and digitize document workflow. Here's how DrySign, an electronic signature solution, provides the edge.

• Keeping Digital Records

  DrySign helps companies digitize documents and store them securely in online archives. It eliminates the need for paper documents and the need for infrastructure to store signed documents.

• Protects Customer Data

  DrySign can preserve the integrity of documents and safeguard customer information. Signed documents are protected using robust encryption methods and help gain customer trust. This helps in retaining customers and helps them be assured.

• Complete Transparency

  Electronic signatures can help track the progress of signing sensitive documents. A mail trail provides transparency on the details of all signers and any modifications within documents. They make all actions taken by stakeholders visible and make them traceable.

• Ensures Compliance

  DrySign is compliant with all electronic signature laws in the U.S. and helps all stakeholders adhere to terms and conditions in contracts, agreements, and deals. Since the eSignature is legally binding, it can be used as evidence in a court of law in the case of disputes. The non-repudiation of documents ensures that all parties cannot deny their authenticity.

• Enhancing Efficiency in Workflow

  Companies can enhance the efficiency within internal processes by shifting to digital documents. Moving paper to digital processes can curb costs immensely and contribute to high savings. In addition, enterprises can help clients provide a smooth signing experience by signing digital documents.

• Be Paperless

  DrySign will help enterprises remain paperless and provide control over the signing process. You can send notifications to signatories from within DrySign to avoid long, confusing workflows, allowing you to streamline all your documentation in one place.

Closing Thoughts

Electronic signatures provide a way to transform processes and allow businesses to reduce their paperwork. They are a cost-effective alternative to traditional wet ink signatures. They are simple to set up and more accessible to store documents for later retrieval. The advantages of eSignatures aid in making businesses digitally forward and paving the way to reach a new set of customers. Keeping internal processes smooth is essential to gain a competitive edge. For enterprises looking to organize documents digitally and sign electronically, DrySign is the way to go.

Source: oberlo.com

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.

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Modernizing Immigration with Digital Signatures

The United States plays host to more immigrants than any other country in the world. The year 2020 recorded 40 million immigrants of varying nationalities. Although this problem statement has been highlighted during many election campaigns and rallies, finding a permanent solution has been challenging. While opening doors to immigrants may positively impact the economy, there is a potential risk of illegal immigration, posing a severe threat to national security. This is where paperwork can prove to be a serious hurdle. There have been numerous instances of people crossing the border using forged papers, leading to disastrous consequences. The key is to keep an eye out for suspicious-looking documents and implement a more holistic, secure, and robust system that can eliminate the possibility of unauthorized entry – such as digital signatures. 

The current immigration process

The current process to apply for an immigrant visa involves multiple steps. The current paper-riddled process consumes a significant amount of operational bandwidth of the National Visa Center (NVC) and the United States Citizenship and Immigration Services (USCIS) – considering the fact that the immigrant population is projected to reach 78 million by 2065.

Step 1 – Filing a petition with the USCIS and filling out the form based on the type of visa.

Step 2 – Passing the application to the NVC.

Step 3 – Submitting your financial documents, affidavit of support, and civil documents.

Step 4 – Medical exam.

Step 5 – Visa interview.

Step 6 – Visa approval and issuance.

Step 7 – DO NOT OPEN THE SEALED VISA ENVELOPE. Instead, submit the sealed document to the immigration & customs official.

Also read: What You Should Be Looking for in a Digital Signature Provider

Why do we need digitization?

In the current process, when your application reaches the NVC, it may take several months to get processed, depending on the category of the visa you have applied for. Digitization can go a long way in streamlining the workflow and reducing the TAT. An ideal way to start this transition would be to implement digital signatures to speed up the approval workflow. This would drastically improve the experience for international students and working professionals.

Besides lengthy TATs and complexities, the current workflow also presents several vulnerabilities that may threaten national security. Where there is paperwork, there exists a high possibility of forgery. There have been numerous instances of Border Patrol officials arresting illegal immigrants trying to enter American soil through unfair means. The Rio Grande Valley sector – the southernmost tip of Texas, is more than familiar with ‘illegal aliens’ (people without proper authorization) trying to enter the United States. In February 2021, the Border Patrol Agents, with assistance from the County Sheriff, arrested 130 illegal immigrants. Some of them had flu-like symptoms, threatening the health and safety of other citizens during the COVID-19 pandemic.

Among illegal aliens, it is also likely for some of them to be wanted criminals. For example, in October 2020, the United States Immigration and Customs Enforcement agents arrested 30 at-large immigrants on American soil in San Antonio, TX. Some of these immigrants were convicted of burglary and distributing narcotics.

Digital signatures in the immigration ecosystem

Until June 2021, the U.S. border authorities have made more than one million arrests on the US-Mexico border. With digital signature solutions in place, we are looking at faster, secure, transparent, and more accountable immigration government bodies. In addition, E-signature solutions tend to maintain detailed logs and verify users, making it virtually impossible to trick the system. Ultimately, with digital signatures in place, we may not be able to bring illegal immigration down to zero, but we can certainly reduce it by a significant margin.

Source:

https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-1-submit-a-petition/step-2-begin-nvc-processing.html

https://uy.usembassy.gov/visas/immigrant-visas/steps-apply-immigrant-visa/

https://www.ice.gov/news/releases/ice-announces-arrests-more-30-large-aliens-south-texas

https://www.cbp.gov/newsroom/local-media-release/group-130-illegal-aliens-arrested-mission-texas

https://www.nytimes.com/2019/12/01/us/undocumented-visa-overstays.html

https://www.pewresearch.org/fact-tank/2021/04/13/key-facts-about-the-changing-u-s-unauthorized-immigrant-population/

https://www.pewresearch.org/fact-tank/2020/08/20/key-findings-about-u-s-immigrants/

https://www.pewresearch.org/fact-tank/2019/07/12/how-pew-research-center-counts-unauthorized-immigrants-in-us/

https://www.brookings.edu/policy2020/votervital/how-many-undocumented-immigrants-are-in-the-united-states-and-who-are-they/

https://www.alllaw.com/articles/nolo/us-immigration/crime-enter-illegally.html

https://www.alllaw.com/articles/nolo/us-immigration/legal-options-undocumented-illegal-immigrant-stay.html

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Traditional signatures have dominated business spaces as an official form of consent before entering into agreements or partnerships. However, the COVID-19 pandemic has highlighted the drawbacks of still being dependent on such techniques. Organizations still running on paper-based processes had quickly adapt and transition to digital processes to ensure business continuity, resulting in electronic signatures being rapidly adopted. Social distancing and remote work further contributed to the demand. As a result, we now see electronic signatures or e-signatures becoming a much-preferred alternative to their traditional counterparts.

While not all industries are on board with this new technology owing to the surrounding misconceptions, its acceptance in sectors like finance, real estate, legal, retail, and construction has created new avenues for companies to be more efficient and enable smoother document workflows.

Businesses that adopted e-signatures saved 55%-78% on administrative costs – SRS Computing

For businesses that want to begin their journey with eSignatures or those already working with a digital signature solution, here are some mistakes to avoid while choosing an esign platform and getting online signatures.

6 Mistakes to Avoid while Using E-signatures

1. Avoid choosing a platform that is not compliant and backed by Certification Authorities

   Many solutions today mislead users by claiming that they provide digital signatures, whereas what they actually do is allow you to upload a scan or photograph of your written signature. For electronic signatures to be legally valid, they must adhere to the laws of the land. E-signatures are legally binding in most countries like the U.S., Canada, the U.K., the Philippines, India, Germany, France, etc. Another feature you must look for is whether there is an additional digital signature certification from a legally recognized Authority, for ex: Entrust, RSA, or eMudhra.

2. Avoid a complicated platform

   Online signatures should ideally help the user save time and resources while signing agreements and contracts. So if you choose a feature-overloaded eSignature platform that complicates your life instead of simplifying it, you defeat the purpose. Also, keep away from platforms with faulty and buggy UI and UX. Instead, look for a solution with an easy-to-navigate dashboard that can give you a comprehensive view of your digital document workflows.

3. Do not neglect internal training

   Companies integrating e-signatures in internal processes often forget to inform and train their staff on the workings of the solution. Using eSignatures in your workflows should not be limited to the top brass and must trickle down the hierarchy. All employees should benefit from internal training to use any new technology. This avoids misuse of the platform and waste of productive time.

4. Avoid a solution that complicates integration with existing systems

   When choosing new technology, always look for a solution that effortlessly integrates with your current systems and workflows. For ex: if you tend to do all your work on Gmail and Google Drive, find a platform that can easily blend with these solutions to make workflows more seamless.

5. Avoid platforms that have device restrictions

   A platform that is not compatible with all your electronic devices is basically a manual signature process. Ensure that the platform you pick allows you to sign from anywhere, on any device, retaining the essence of a location-agnostic solution.

6. Avoid obscurity in digital paperwork

   Anyone signing a digital document via your platform must be clear on what they are signing up for. An ideal online document requesting an online signature should contain:

   • Details of products and services provided within the document.
   • Full name and job title
   • Name of the business, address, and contact information
   • A clearly marked box wherein one or multiple signatories must add their online signature.
   • Date Signed

Also Read: 8 ways e-signatures can transform your business!

Never pass up a Free Trial

If you have the opportunity, always try the Free Trial. This ensures that you get to try a new solution for free, experience the features, and habituate yourself to it. Make sure never to pass up a Free Trial. Try the DrySign Free Trial now!

Electronic signatures are experiencing a surge in demand due to the digitization of documents and the pandemic remote work obligations. An eSignature platform like DrySign can curb printing, storage, and delivery costs, saving you hours of valuable time and creating seamless digital workflows with high-security standards. While many solutions exist in the market, DrySign stands out in several ways, including cost and simplicity! Here’s why we think DrySign is optimal for businesses of all industries, big and small:

The DrySign Experience

• Seamless Workflow – DrySign automates the workflow of your billing, contract, and agreement processes instantly. Whether you belong to the HR, Sales, Production, or Operations team, DrySign can cut costs, save time and improve the productivity of your teams. With no bottlenecks like printing or storage, your teams can focus on growth instead of paperwork.
• Instant Tracking – Every time there is an action on your digital document, DrySign can inform you of it. You are always updated with easy tracking notifications keeping you updated and in tune with your processes. You can even send reminders to your signatories from the DrySign dashboard for pending signs on important documents, helping you stick to competitive deadlines.
• Ease of Use – DrySign users can easily send, manage, and store documents for signing from any device as long as they have an internet connection. With an intuitive dashboard and easy-to-navigate menus, managing office documents is child’s play.
• Enhanced Security – Using DrySign may be child’s play, but the security is not. Trustworthy eSignature platforms can protect your documents from fraud and forgery. A two-factor authentication (2FA) within the solution helps gauge authentic users and prevents fraudsters from accessing your account. It even allows you to double-secure your confidential documents with the password-protected document feature.
• Experience Efficiency – eSignatures can help you reduce trivial mistakes like printing or incorrect filing errors. According to a 2021 survey by financesonline, adopting e-signatures can reduce 92% of scanning errors and the risk of missing files by 66%. All these numbers finally add to lost time and money. DrySign offers 100% efficiency in all your digital workflows.
• Legally Binding – eSignatures are legally binding and adhere to security and privacy regulations. Digital documents containing eSignatures with reliable digital signature technology can be upheld in the courts of law that recognize them.

Conclusion

A generic survey of modern businesses will show that most offices still prefer to use all the digital tools possible to avoid using paper, printing documents, and attesting them with manual signatures. Electronic signatures are misunderstood by major enterprises due to fear of trying a solution that is thought to be in its nascent stage. However, it’s the opposite! eSignatures have been around for decades, and we are only now realizing the potential of this reliable and far more sustainable option than its counterpart – pen and paper! e-signatures can virtually solve all challenges associated with physical documents and their storage.

Knowing what to avoid will help you narrow your search for the right eSignature platform. Try DrySign today to get the solution you desire.

Sources: financesonline.com | srscomputing.com

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.

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