ElectronicSignatures

8 ways e-signatures can transform your business!

Read more about 8 ways e-signatures can transform your business!

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Today, every industry worldwide has stepped into an era of digitization, where age-old practices have gradually moved to the background, giving way to smarter and more efficient methods of working. The face of business is continuously changing, and the last few years have seen a boom in the number of industries embracing the latest technological trends, especially during and after the pandemic. Digital transformation has never been more significant, and there’s nothing that can stop it.

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

Digitally advanced solutions, although always a sound part of the trajectory of business growth, have taken a new meaning post-pandemic. One such solution that has always been a major player in a digitally-advancing world is the electronic signature. During and after the pandemic, e-signatures instantaneously became one of the easiest, most convenient, and most secure means of executing contracts or agreements. An e-signature platform eliminates the hassle of an extended manual process that includes repeated follow-ups, especially if it involves multiple signatories and location constraints. Businesses are constantly evolving while trying to find ways of getting things done in a quicker, more secure, and cost-efficient manner and e-signature platforms offer just that.

72% of company representatives say that a digital document process enables their

organizations to better maintain business continuity amidst unforeseen circumstances.

- Forrester Consulting Paper, August 2020

Electronic signatures, although understood differently by everyone, basically mean a digital and legally recognized way to indicate consent or approval on a digital document or form, just like a handwritten signature on paper. This type of signature has the same legal standing as a paper and ink signature as long as it adheres to the requirements of the regulations and laws under which it was created, specific to the country or state.

Here are some of the significant ways e-signatures can help transform your business digitally:

Reduce Apparent and Hidden costs:

There is hardly a business or industry that manages without signing agreements, contracts, and other documents. And most of these businesses use traditional signing methods. In these cases, the most apparent cost savings come from eliminating a paper-based workflow. No paper means no ink, no printers, no scanners, no postage, and no delivery or shipping. Most businesses fail to take into consideration the overhead and hidden expenses such as the human resource that you pay to handle, store and manage these physical documents or the losses you suffer from damaged, lost, or tampered paperwork, or the bigger storage spaces you rent or buy to store these business files. It cannot be denied that traditional signing does lend a finality to any business deal; however, when you weigh it against the sheer burden of cost this method puts on any business, it clearly comes across as the more futile option compared to a cost-effective electronic signature solution.

Better customer and employee experience:

With cut-throat competition, and increasing customer expectations, every business is trying to win customers over by providing an exceptional customer experience. The industry's focus needs to be consumer-driven, especially when businesses are opting for cutting-edge technology to stay ahead of the game. In today's world, where the customer is spoilt for choice, customer expectations are continuously and rapidly evolving. Additionally, your employees and their experiences are equally valuable to the success of your organization. An easy-to-use solution like e-signatures can help eliminate the inconvenient and bulky process of signing hundreds of documents for your customers and employees and replace it with a fast, safe, secure, and cost-effective process.

Also Read: 10 Frequently asked Questions about the use of ESignature!

Fast decision-making to stay ahead:

The average time to obtain signed documents is 5-7 business days. As we know, Time is Money! Losing 7 working days to close a contract or hire talent in high demand can mean the difference between success and losing out. Signing paper contracts substantially increases the time taken to get into agreements, slows down the delivery of products and services, and, at worst, results in loss of business. With an electronic signature platform, the time and effort taken to get multiple signatures or approvals across the business are significantly reduced, making business processes faster than ever.

Productivity & efficiency:

By simplifying and reducing the TATs for workflow operations, e-signatures significantly improve productivity. Efficient digital solutions streamline lengthy and unsustainable traditional signing methods that have been a major part of most companies. These organizations depend on document signatures with manual processes, including paper, scanning, emailing, and shipping, to acquire these signatures. Employees spend hours of their time waiting around for documents pending signatures. Add to this, loss or errors would mean an increased cycle time, creating more inefficiencies and negatively impacting productivity. The integration of a simple e-signature solution can help you bid farewell to these unproductive and inefficient methods.

Enhanced Security:

Even with the increased speed and efficiency, electronic signatures are also the most secure way of signing documents. Paper documents with wet signatures can be easily forged and tampered with, adding a risk factor that any organization would prefer to avoid. Manual documents are also at risk of being handled by several intermediaries till it reaches the recipient finally, also adding to the risk. Electronic signature platforms can track signed documents from the past, along with their date and completion status. Most e-signature platforms also use Certifying Authorities (CA) and digital signatures backed by PKI or Public Key Infrastructure technology, giving you an added layer of protection on your confidential documents.

Greater Flexibility & Convenience:

The flexibility and convenience that a digital solution like e-signatures provide in a post-pandemic world are unprecedented. Most e-signature solutions work on multiple devices and can integrate with existing software like Google Drive, DropBox, etc. Signing yourself or requesting signatures from multiple other parties or even bulk signatures is an effortless cakewalk with a robust e-signature platform.

Sustainable & Eco-Friendly Business:

One of the best transformations that an organization can go through is to Go Green! Sustainable operations are not just a passing fad but a necessity for a better, environmentally stable future. Deforestation is still causing havoc on the biodiversity of the planet, and protecting it at all costs is a weight all of us carry collectively. An environmentally conscious business is also a magnet for future generation clients who believe that the responsibility of our planet lies with us.

Contactless & location agnostic:

Post COVID-19, every industry is compelled to look into Work-From-Anywhere and hybrid options. The future of work is location-agnostic. Apart from reduced commuting time, improved productivity, and a better work-life balance, there are many advantages to WFA options. To gain these advantages, every company must ensure a hassle-free, seamless, and secure workflow for business continuity. E-signature solutions provide users with an unmatched contactless and remote experience.

Here is a quick look at some of the use-cases of e-signature solutions for various industries:

HR:

Signed and approved Offer & Appointment letters
Memos & Appraisal Forms

Accounting & Finance:

Vendor Invoices
Employee Reimbursements

Admin & Procurement:

Purchase Orders
Vendor Contracts

IT:

Offer Letters
NDAs

DrySign is an easy-to-use, secure, and fast e-signature platform that can transform your business and change up old, traditional, cash-draining methods to new, digitally powered solutions. Find a plan suitable for your business, no matter the size or industry you belong to. Go Digital With DrySign - E-signatures for All!

Sources: financesonline.com | adobe.com

Date

Mon, 05/23/2022 - 12:00

Author Name

Avantika Joglekar

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Digital transformation is the way to go and e-signatures are your first step in!

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digitaltransformation

Your Every Move Matters In The Game Of Climate Change! Choose Wisely; Choose E-signatures!

Read more about Your Every Move Matters In The Game Of Climate Change! Choose Wisely; Choose E-signatures!

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Nature is the core element that helps us survive; it provides oxygen, regulates weather patterns, and produces our food, feed, and fiber. When speaking of biological diversity, one often limits the scope to a variety of animals, plants, and microorganisms. However, biological diversity is far more than this. For instance, combinations of crops and breeds of livestock; varieties of ecosystems, i.e., lakes, deserts, forests, and agricultural landscape; humans, plants, and animals – everything matters while considering biodiversity. Biological resources act as the pillars upon which we build civilizations and can be grouped into those that affect agriculture, those that are sources of scientific inputs, and those that provide natural goods and services.

Human beings, however, have managed to cause an unprecedented level of damage to nature and this planet. Human activity has altered nearly 75% of the earth’s surface, pushing wildlife and nature into an ever-smaller corner of the earth. We collectively fail to understand that this damage can only cause danger to our health and quality of life.

With the widespread COVID-19 virus, it is evident that this scale of biodiversity loss can and will increase the chances of such zoonosis or diseases transmitted from animals to humans.

On the other hand, if we change today to keep our biodiversity intact, we just may have a fighting chance against such diseases in the future.

The choice is ours! The future is in our hands now, and our every move counts in this game of climate change! May 22nd was observed as International Biodiversity Day – there is no better opportunity to show our affection toward nature. So, let’s do our part for a better and sustainable future.

International Day of Biological Diversity 2022

The United Nations has proclaimed May 22 as the International Day for Biological Diversity to increase understanding and awareness of pressing biodiversity issues. Despite all the technological advancements, we rely on a healthy and vibrant ecosystem for our food, water, medicines, clothes, fuel, shelter, and energy, among other things. For all our issues related to weather, health, nutrition, water security, and sustainable livelihood, biodiversity is the foundation that can help us rebuild better. Healthy biodiversity remains the answer to numerous sustainable development challenges. The International Day of Biological Diversity this year was celebrated under the theme: “Building a shared future for all life.” The slogan was selected to continue building momentum and support the post-2020 global biodiversity framework to be embraced at the upcoming UN Biodiversity Conference COP15.

Also Read: ‘Invest In Our Planet’ by Embracing E-signatures!

Go paperless!

Among the numerous things we can do to protect nature, perhaps the most significant contribution would be going paperless. Going paperless, especially in a business, can also save several overhead costs. While it may not be possible for everyone to avoid frequent traveling for work purposes, reducing office waste, recycling plastic waste, reducing energy consumption, or investing in water harvesting, the one thing we all can easily do is restricting the usage of paper in our daily office use.

Traditional working habits die hard. The image of paperless offices has been a dream for decades now, but the average office worker still uses over 10,000 sheets of paper in a year.

The paper industry cuts down 20 trees to produce one metric ton of paper, and all these trees combined could absorb up to 0.5 tons of carbon dioxide annually from the atmosphere. The paper production process consumes 6.7 million liters of water and produces 1.5 tons of carbon dioxide per metric ton of paper produced. To be precise, roughly a net of 2 tons of carbon dioxide emits for each ton of copy paper. Yet, 65% of businesses globally still use pen and paper to collect signatures for operations, which can have dire environmental consequences if continued.

Moving from the traditional pen and paper method to digital documents is a very critical step in an organization’s digital transformation journey. Fear of failure and the unknown tends to intimidate many organizations. But this is the time to do our bit for future betterment and being catalysts for change. If stakeholders and business executives are fully aligned and invested in driving the change, the initiative is already on the verge of success. Organizations must create a roadmap and define policies to succeed in their first step toward paperless offices. The move toward a paperless world is rife with benefits for any business, particularly those highly reliant on forms and contracts. These businesses include healthcare, law firms, insurance companies, financial services, and the government. Below are the benefits of embracing digital documents and signatures, replacing the traditional paper documents and signatures:

Save money spent on papers and pens and a tremendous amount of storage space.
Streamline and fast-track critical business operations and processes.
Make document access faster and easier.
Sign documents from any location, any time.
Reduce time and cost associated with editing, formatting, and redistributing documents and forms to get them signed.
Manage electronic records easily for further signing requirements.
Use any device or browser to sign documents electronically.
Protect documents from getting lost, stolen, tampered with, or destroyed.
Get a more secure and end-to-end encrypted signing experience.
Cut down on approval cycles.
Enhance the security of confidential data.
Improve client and employee experience.

How to go paperless with electronic signatures?

The pace of digitization is skyrocketing everywhere in the world. Irrespective of your business, age, sector, or educational background, digital documents are transforming the way we operate. Using digital documents and electronic signatures to sign essential agreements, forms, or contracts is becoming a new normal with the increase in remote working scenarios. Discover the ways you can cut down on paper usage.

Businesses

The ever-growing market has forced organizations to keep up with the market trends and meet customer demands. Businesses deal with numerous clients, employees, other workforces, and myriad data associated with all of them. Manually managing all this data, sending or receiving documents to get them signed, and providing a hassle-free customer experience are tedious tasks that might turn into revenue loss. Moreover, the paper consumption in all the business processes becomes overwhelming. E-signatures can turn this situation upside down; it makes it easy to sign critical agreements or contracts remotely, hire new employees, salary and insurance rollout, manage sales processes, and provide customer satisfaction. Using electronic records makes it easy to manage overwhelming data. Moreover, it can reduce paper usage.

Students

Student life starts with paper and ends with a piece of paper; from books and application forms to job applications, paper usage is an indispensable part of a student’s life. If schools and colleges try to reduce paper usage by embracing digital means, we can cut down on paper usage and also instill paperless workflows in our students from an early stage. Students can use electronic signatures to sign admissions forms, job application forms, bank loan forms, scholarships, etc.

Individuals and senior citizens

Are signatures only limited to businesses and institutions? Of course not! Any individual, irrespective of age, can leverage e-signatures to perform daily tasks. Senior citizens are often asked to be physically present to sign documents or forms related to their pension, healthcare, insurance, etc. Even simple and daily activities include using paper in large amounts, which can only be reduced by embracing electronic signatures. Individuals and senior citizens can use e-signatures to sign their insurance forms, file income tax returns, healthcare documents, banking forms, etc.

If everyone, including individuals, students, businesses, and senior citizens, started using electronic documents for personal or business needs, the amount of paper we will save and indirectly reduced the rate of deforestation would certainly make a dent in the collapsing biodiversity of our planet. Your every move counts in the protection of our biodiversity, and now is the time to make this move!

DrySign e-signatures provide an electronic signature platform for everyone who aims to reduce paper consumption. We are already doing our bit for nature; it’s high time you invest in nature too! Your every step matters in the game of climate change. So, choose wisely and start DrySigning!

Sources: pca.state.mn.us | medium.com

Date

Wed, 05/25/2022 - 12:00

Author Name

Pooja Patil

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Sustainability

The ways Electronic Signatures are driving ROI

Read more about The ways Electronic Signatures are driving ROI

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The International Data Corporation (IDC) revealed that 65% of the global GDP would be digitalized by 2022. Today, the world has moved towards a digital era, embracing intelligent digital solutions. Electronic signatures play the part of one such digital innovation that has turned out to be beneficial for businesses, individuals, and the global business environment, as a whole. The digital signature market is estimated to grow from USD 4.05 billion in 2022 to USD 35.03 billion in 2029. The electronic signature market is growing by leaps and bounds and is a boon for organizations. Today’s ever-changing business world (attn: COVID-19 pandemic) has forced even the most rigidly traditional organizations to operate in the contemporary world. And, it’s not for nothing! Every industry faces cut-throat competition, which in turn increases customer expectations. Companies and individuals are compelled to embrace digitally-driven solutions to generate revenue and stay relevant.

Increasing revenue and augmenting Return On Investment (ROI) is a critical focus of every organization. Dive into this blog to know the ways e-signatures can drive ROI.

Electronic signatures - Driving ROI

Signing documents as a token of receipt is a must in business processes. It also lends finality to a sale or business process. Today, no department can thrive in the digital world without e-signatures. Signing electronically has made it easy and secure for organizations to sign, send, and receive agreements. While it is abundantly evident that e-signatures can benefit businesses, let’s explore how they can drive ROI.

Enhances Employee Productivity

Documentation plays a significant role in all types of industries. Businesses rely on agreements or contracts to perform all aspects of sales, marketing, development, or organizational functions to run smoothly. In the last decade, e-signatures have been in the driving seat to streamline the signing of agreements. With the help of state-of-the-art e-signature solutions, your documents can be signed in minutes compared to earlier, when you would spend days waiting for a signature or two from clients or partners, using traditional pen and paper signing methods. Rolling out offer letters and other hiring documents, sales contracts, invoices, employee benefits, NDAs, and so on; the processing of all these documents comes into the picture while gauging employee productivity. Moreover, signing essential documents or agreements, following up for signing status, inviting one or more signatories to sign a document, and keeping a record of all this takes up unnecessary time and effort, eventually leading to reduced employee productivity. DrySign e-signatures help you sign any document within minutes securely, from anywhere. The DrySign platform also provides an all-seeing, intelligent dashboard that allows you to track every single document that is out for signing or pending to be signed by you. This effortless tracking of your entire document workflow enhances productivity and keeps you and your teams on track.

Eliminates Extra Cost

In 2021, as the economy slowly reopened, the prices for products increased. The cost of paper, too, rose significantly, a 9.6% escalation. An analysis report says that businesses in the U.S. waste $8 billion a year on just managing paper. Signing documents manually also include costs associated with printing, mailing, and storing documents. Hidden costs such as fuel, logistics, human resources, etc., are also involved but generally overlooked. E-signatures reduce these extra costs associated with document signing and allow for a faster and error-free documenting process. Organizations that adopt e-signature solutions reduce document handling expenses by a whopping 85%. With DrySign, it is so easy to upload or create a document, sign it, and share it from anywhere, reducing several overhead costs that are, so obviously, avoidable.

Accelerates Revenue

Whenever extra time and effort are spent on printing, scanning, filing, signing, managing, and storing tasks, it tends to reduce employee productivity and, subsequently, your revenue. As we all know, Time is Money! Any process that has the potential to waste time or hold you back from making quick and accurate business decisions is a financial burden and must be discarded. The faster your turnaround time, the sooner you close business deals, hire the best talent, get a new client on board, and have a higher chance of generating better revenue. DrySign needs mere minutes to execute the activities that you currently waste hours on – at least 4-5 emails going back and forth, and numerous phone calls.

High-Efficiency

Document and contract flow management is an assured part of every business, some would say, a paramount part, as it influences everything, from maintaining the confidentiality and smooth functioning to simpler, more day-to-day tasks. On the other hand, it is time-consuming and expensive, and plain boring! You have already lost half the battle when your human resource is running around from cubicle to cubicle for multiple signatures or printing, scanning, and filing these important papers. According to a survey, 65% of companies reported that collecting physical signatures adds an entire day to their work process. On the other hand, companies that have decided to go paperless and move the e-signature way have reduced 90% of their processing errors. DrySign gives you the power to eliminate a non-efficient process with a simple, easy-to-use, and highly efficient e-signing method while saving you cost and time.

Improves Customer Experience

Irrespective of your industry, electronic signatures have something to offer your business. Electronic signatures ease everything, from signing business agreements and hiring documents like offer documents and NDAs, to applying for college and scholarships or asking for customer feedback. As a result, any organization can provide a seamless, enhanced digital experience to its customers. DrySign provides a platform that helps you seamlessly share and sign documents electronically, in minutes!

Reduces Risk

Electronic signatures provide end-to-end authentication to ensure a secure signing experience. Signing electronically using trusted and certified e-signature platforms reduces the risks associated with cyber security, disaster recovery, and other such operations and supplier risks. Going digital also means no loss or damage of documents, no risk of forgery or intermediaries, etc.

Environmental Responsibility

Using traditional signing methods means the use of tens of thousands of sheets of paper, which not only impacts the costs and time associated but also contributes directly to climate change, deforestation, and the destruction of our biodiversity. Paper contributes 26% to the total waste in landfills. Pens generate tons of plastic waste that ends up in rivers and water sources, eventually harming animals and the environment. Sending and receiving contracts signed manually accounts for traveling costs and CO2 emissions. In a nutshell, ditching wet signatures and embracing electronic signatures not only save costs but also saves our environment. Taking your business digital with DrySign e-signatures can help you reduce the giant carbon footprint of your business.

Also Read: 10 Frequently asked Questions about the use of ESignature!

Industrial sectors that must incorporate signatures

E-Commerce

With the increase in digitization, e-commerce is a sector that continues to grow every day. Every transaction accounts for an agreement between the seller and buyer. The e-commerce industry deals with multiple vendors and customers, and it is essential to bind all of them with contracts or agreements. Considering the number of transactions happening in e-commerce, the time and effort required for signing and storing all the agreements must not be overlooked. Electronic signatures act as a savior, streamlining signing processes in e-commerce.

Advertising industry

The advertising and marketing industry requires legally binding contracts signed by both parties. Moreover, to terminate the agreement or extend it, business individuals need to repeated review and draft legal documents that need signatures. It would be tedious to upload, create, manually sign, and manage all these documents. Electronic signatures help manage such contracts without any potential legal dispute.

Finance

The finance sector incorporates banking and other monetary transactions that are always in need of an extra layer of protection. Poor security in the finance sector can lead to a devastating loss of money, identity theft, and subsequent access to funds by unauthorized entities. Using certified e-signatures helps avoid these breaches streamlining secure document workflow.

Insurance

Insurance companies need to have agreements in place to ensure a smooth experience for the customers. Moreover, signatures and records need to be maintained to ensure the authenticity of contracts agreed upon by both parties. Electronic signatures ease the insurance representative’s job by providing secure and authenticated e-signatures to bind the insurance provider and receivers under mutual agreements and keep electronic records.

Healthcare

The ever-growing healthcare industry is constantly entangled in paperwork - vendors for equipment, drug companies for medicines, and medical professionals, like doctors, nurses, surgeons, etc., for jobs. In an industry such as healthcare, time is of the essence, and accuracy is crucial. E-signatures provide both of these functions along with reduced costs and improved ROI.

Start DrySigning!

It is evident that signatures act as an indispensable part of our day-to-day activities. Irrespective of your industry, business, or location, you will inevitably deal with paperwork and documentation. DrySign helps you with all your signing needs and provides a secure, end-to-end, and super easy signing experience that can benefit not only big industries but also small businesses and start-ups. Invest in DrySign e-signatures and get an awarding ROI for any business.

Sources: ibisworld.com | fortunebusinessinsights.com | msbdocs.com | theworldcounts.com

Date

Sun, 12/05/2021 - 12:00

Author Name

Pooja Patil

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digitaltransformation

Change The Way You Manage Your Contracts - Go Digital With Drysign!

Read more about Change The Way You Manage Your Contracts - Go Digital With Drysign!

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Would you believe us if we were to tell you that we’d deposit a million bucks into your account if you read this blog in all its entirety? No! Well, what if we promised? Still no, huh? Not even if we promised? Doesn’t that count for something? Hard pass, eh? Sure, that’s hurtful. But, your skepticism is rationally justifiable. How are you expected to believe anything unless some contractual obligation binds it with definite tenure, validity, terms, and conditions? And there are none out here!

A promise is nothing but mere words, but an attested agreement is what binds the participants to the terms. They make promises legal and enforceable. Without a contract, such promises are nothing but tall worthless claims. A contract is what coaxes the promising party or parties to stand by their word and comply. Otherwise, mere words are just fluff without any concrete obligation, aren’t they?

Needless to say, businesses employ contracts for all their transactions. Contract and Agreement documents don’t just bind the promising party to the mentioned task, but they also provide a crucial blueprint with clearly defined roles, responsibilities, expectations, obligations, tenure, validity, terms & conditions, and endpoints, among other criteria concerning a deal.

Irrespective of your category, as a freelancer, startup, or enterprise, inappropriately handled agreements can expose you and your business to significant risks. Therefore, it is essential to safeguard your interests and optimize the value of every offer and deal. But, this is possible only with reliable documentation technology, such as an e-signature platform. Why and How? We’re glad you asked!

It lets you collaborate from anywhere, any time. Electronic signature service platforms allow you to access, create, modify, rectify, attest, verify, and store your agreements with ease through every stage of a deal.
Most businesses simultaneously juggle multiple proposals, and keeping track of them can be quite a task. Through secure, centralized, cloud e-signature services, you can say goodbye to an ever-increasing pile of files & documents to easily locate and manage your files instantaneously through a digital medium.
With e-signature solutions, you can digitize, integrate, and streamline complex workflows. Electronic signature services allow you to narrow down multiple processes to a mere few. You no longer have to wait for and send agreement documents across with several pit stops. Simply deliver, approve, sign, and seal a document all on one singular platform – easy, isn’t it?
Some e-signature service providers allow you to choose and create templates to suit your requirements. Thus, you save much time that would have otherwise been devoted to cumbersome, redundant processes.

There are several stages that a deal goes through. Of course, these may vary by type, organization, and industry. But let's narrow down these processes to a generic classification, and we'll get five crucial phases. So first, let us understand the contract lifecycle and the ways e-signatures can alleviate some of the pain points at every stage.

Creation:

If a deal is imminent, one must create a request to initiate an offer. An offer must highlight the objectives, goals, proposed responsibilities & liabilities, effective date, date of delivery or end date, payment – amount, method, and terms. This stage revolves around a proposal and is subject to alterations considering the interests of all participants. Nothing is concrete yet, and nobody is bound to oblige to any terms. The focus at this stage is to provide a basic framework by outlining the rights and duties of every participant. It is a good idea to add conditions and clauses that refer to action plans in case of a mishap, dispute, and other such circumstances. Digital signature platforms enable all the participants to view and suggest recommendations simultaneously through cloud computing services accessible only by authorized participants.

Also Read: 7 Reasons to Equip Legal Teams with Digital Signatures

Negotiation:

After the proposer completes their draft, the ball moves to the respondents' court. Their team must thoroughly analyze and ensure there are no loopholes or ambiguities to safeguard their interests. The offer might need approval across departments as multiple teams scrutinize it. This is a time-consuming process, but it can lead to severe complications if a department misses out on inspections. Depending on the inputs provided, they can counter the offer, reject it, or suggest modifications. A typical negotiation phase accommodates a lot of oscillations until the consenting parties conclude to draw up a memorandum of understanding. Imagine this entire process made a lot easier with digital workflows and e-signature solutions. You'll eliminate the need to send and sign multiple drafts and copies physically. Besides, e-signature platforms allow you to store all iterations of an offer with a robust audit trail to eradicate the possibility of any confusion. Talk about transparency!

Finalization:

This is when things begin to stabilize as far as documentation is concerned. Although this isn't the final stage, most disagreements get ironed out as teams prepare to set things in motion. It is crucial to get attestations from all consenting authorized personnel during this stage to bind the agreement legally. The legal team must conduct thorough due diligence to ensure the company's interests are safeguarded. With electronic signature workflows, acquiring these consensual attestations becomes a cakewalk allowing all concerned parties to conveniently move on and concentrate on the next phase of a deal, its execution.

Execution:

Remember the age-old saying, 'Actions Speak Louder Than Words'? After finalizing and approving a deal, it's time to set things in motion, which marks the beginning of the execution stage. All parties would have agreed to an effective date for the execution duration and validity during the finalization stage itself. All parties that consented by signing must fulfill their obligation. Electronic signatures enjoy the same privileges as handwritten signatures. Thus, an agreement signed through an e-signature platform must comply with the specifications mentioned in the agreement copy, or there may be legal, financial, and reputational implications. Digital signatures are legally binding and accepted in most use cases and locations worldwide, making them an efficient tool for managing contracts.

Closure:

Everyone wants to close a sale deal as soon as possible. But you cannot complete a deal without relevant signatures. The closure of an agreement is a crucial stage, and e-signature platforms allow you to close your deals without participating in a time-consuming chase. All participants must have a clear idea about what is expected once the job gets done. Are all parties inclined towards an auto-renewal for another definite tenure? Do they wish to terminate it? What are the conditions that need to be met in either case? Will the same terms be applicable? How pertinent will a renewed bond be in the next term? If any revisions are recommended, all of these should be documented to avoid any misunderstandings. If you plan and manage your contracts well, you can mitigate many risks associated with poor document handling.

Always remember these basics while handling contracts:

Thoroughly comprehend and weigh the responsibilities, obligations, and risks.
Ensure the roles and timelines are suitably assigned with appropriate provisions for delays, circumstances, or malice.
Track and monitor the status and completion of your agreement.
Always keep your settlements accessible and saved in a secure device or location.

A deal is subject to revisions through every stage. Clauses can be added or deleted, and conditions may be tweaked to suit the participants. Electronic signatures make it easy to streamline every stage of a contract. Imagine all of this being done the traditional way with heaps of paper going back and forth several times to every participant's address. Eventually, the older iterations become nothing but trash that may carry sensitive information, ultimately ending up at a paper shredder. That's like consciously generating waste. Indeed, you shudder to think about how much paper gets wasted this way! Sure, work must get done. But, when there is a better way, why not adopt it? Especially considering e-signatures provide users with the security and efficiency that traditional documentation cannot guarantee. They improve TATs by leaps and bounds and save a lot of pennies. For seamless contract management and to gain a competitive advantage, it's advisable to manage your agreements with e-signatures.

Your Contract’s Fine…if you’re using DrySign!

DrySign is an e-signature platform that is secure, quick, and easy to use. With thousands of businesses entrusting us with their documentation, we're sure to amaze you too! Give us a call to find out exactly how we can revolutionize the contract management process at your end. Or just sign up here for a FREE TRIAL.

And about that so-called offer at the beginning of this blog …unicorns and fairies! Next time, insist on an electronic contract with valid currency! Ensure an e-signature from someone with authority backing it. And if you want to know how e-signatures work, check out DrySign here.

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.

Date

Wed, 06/01/2022 - 12:00

Author Name

Ruelha Mascarenhas

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Digital Signatures: Bolstering the Business Game for Start-ups

Read more about Digital Signatures: Bolstering the Business Game for Start-ups

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The COVID-19 pandemic left the whole world shattered with calamitous blows to almost every facet of the business. While this crisis became a catalyst of innovation for some organizations, for those who were missing out on digital transformation initiatives it became a wake-up call. Start-ups weren’t an exception to this. With the whole ecosystem moving to digital solutions for sustainability and agility, it was of paramount importance for start-ups to integrate digital solutions in their processes and innovations.

Companies embracing digital transformation are 26% stronger than their competitors and hold a 12% growth factor.

We are living in the generation of digital immediacy. Consumers ask for the best possible experiences delivered at a fast pace through digital channels. And to meet these ever-growing customer expectations, businesses have to leverage the use of digital solutions. Likewise, it is paramount for start-up owners to invest in new technologies and innovations. Start-up owners are striving to establish their brand images and make a mark in today’s cut-throat competitive market, which doesn’t allow them to spend countless time and effort on tedious and lengthy document handling and paperwork. This is why start-up owners are increasingly moving to digital solutions such as digital signatures. They not only streamline documentation processes, but also save a lot of time, effort, and operating costs. Moreover, it helps improve employee productivity, enhance customer experiences, and optimize operations. Let’s dive into this blog to discover the role of digital signatures in increasing sustainability and efficiency for start-ups.

Ways Digital Signatures Help Start-Ups Thrive In the Market

Before digging into the benefits of electronic signatures, here’s how paper usage harms our environment and the planet.

Offices in the U.S. use 12.1 trillion paper sheets a year.
Paper contributes 25% to landfill waste and 33% to municipal waste.
The paper industry is the fifth largest consumer of energy worldwide, using over 4% of the world’s energy.
The production of 1 ton of virgin paper accounts for 253 gallons of petrol usage.
Paper waste contributes 50% to the overall business waste produced.
Annually over 30 million acres of forests are cut down.

While paper usage can cause zillion hazardous issues, there is one smart solution that can help! Ditching the traditional wet signatures and embracing smart digital solutions such as digital signatures can live up the consumer expectations and market standards, improve employee productivity, and help businesses become sustainable! Here’s how digital signature solutions can benefit start-ups:

Enhance Customer Experience

According to one survey, customers can spend over 200% more and interact at least 50% more with a business that delivers an excellent customer experience. Bolstering a superior customer experience for your clients helps create brand loyalty and boosts customer retention, which is the key component fostering start-up growth.

72% of users say they would consider abandoning a brand that provides a disconnected customer experience.

For the majority of start-ups, the struggle is real. This includes searching for funding, getting agreements signed on time, taking approvals from stakeholders, invoicing, and nurturing a great customer experience. Using traditional paper-and-pen signatures can slow down these processes, while on the other hand, e-signatures live up to expectations! Electronic signatures help start-ups save time and allow them to sign from anywhere, anytime, thereby speeding up the invoicing and agreement signing, helping them deliver an excellent customer experience without spending too much on resources.

Attract New Customers

The first few years are crucial for any business. Start-up owners are constantly striving to keep everything and every stakeholder on the same page to avoid disputes. However, the most crucial goal remains generating enough revenue to keep the business running and to attract new customers.

Over 60% of consumers prefer an automated self-service, such as a website or mobile app.

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

People nowadays are more receptive than ever to new technologies. They tend to bend toward brands incorporating emerging technologies to offer a hassle-free experience to their customers. When customers purchase any product or service from a start-up, they expect prompt responses to their queries, feedback, and transactions. It is undoubtedly impossible to manually sign every transaction, keep track of feedback, manage overwhelming data in one place, and send/receive documents back and forth. E-signatures ease up these tasks. Moreover, every transaction handled using electronic signature carries the same legal weight as paper-based signatures.

Companies outshining customer experience drive 4-8% higher revenues than other competitors in the market.

High-Level Security

77% of business owners want remote access to the files.

Security is the foremost concern that comes to mind when someone wants to access confidential files remotely. There are possibilities of data loss, file misuse, data theft, or unauthorized access.

Document handling challenges account for 21.3% of productivity loss.

Start-up owners shuffle through innumerable agreements and contracts to get the stakeholders on board, attract new customers, onboard new employees, and more. Getting entangled in lengthy and tiresome documentation can cost them time and money, which is the most crucial for businesses. In contrast, e-signature solution come at a very reasonable and adaptable price structures, and help in streamlining documentation. In addition, DrySign e-signatures are 256-bit encrypted, integrating end-to-end security in your signing processes. This allows businesse owners to easily access documents anywhere, anytime, from any device, without any security constraints. Furthermore, DrySign e-signatures are legally binding and comply with certain certifications to ensure the legality and compliance needed.

Legally Binding

With a tremendous rise in online transactions, the need for a safe and legit way to bind the signatory to a written agreement, policy, or acknowledgment becomes dire. While integrating e-signatures in business processes, you might wonder if the signature solution complies with all the concerned legislation. An obvious response to this question is yes! Most e-sign platforms are compliant with electronic signature laws and regulations of the country they’re being used in, such as the ESIGN Act and UETA in US which grant legality to digital signatures.

Legally binding signatures adhere to public key infrastructure (PKI) that generates two bits of code known as keys to providing an extra layer of protection to documents. There are two such keys: private and public keys. PKI technology also guarantees compliance to certificate authority (CA) requirements, which ensures the uprightness of key security. Depending on your business requirements and the level of legitimacy needed, you can accordingly opt for e-signature solutions.

Long-Term Savings

Physical contracts cost around $5 to $10, considering printing and courier.

When it comes to start-ups, everything has to be managed from scratch. And keeping a record of everything to avoid further disputes becomes challenging with manual processes. Moreover, sending or receiving agreements or contracts back and forth for review and signing takes overwhelming time and effort. The cost of storing, retrieving, producing additional copies, etc., can be much higher. In addition, it accounts for human errors, data loss or theft, or unauthorized access to confidential data.

By deploying digital signature solutions like DrySign, start-ups can bag long-term savings based on their operation and budget scale. Hidden costs like printing, scanning, office supplies and storage of paper documents constitute a significant portion of the budget. Smart alternatives not only eliminate these tedious aspects but also enable your start-up to do what it does best. Make this world a better place, one problem statement at a time.

Operate Faster, Safer, And Smarter

Using digital signatures can help your organization reduce an array of operational costs. Businesses can reduce the turnaround time, document processing costs, and error rate by up to 80% and improve productivity by 85%. Streamlining your operations helps you with free time to connect with your customers and clients. The transition to digital signatures provides faster ROI when the scale of operations is huge.

Join The “Greenitiative.”

The global picture of a paperless tomorrow is evident. All the U.S. federal government agencies are planning to go paperless. It would be safe to predict that given the initiatives going on across the globe, going paperless can become mandatory in the not-so-distant future. So instead of waiting for that to happen, there’s no harm in reducing the carbon footprint while saving time, money, and infrastructural costs.

If you are a start-up owner striving to upgrade and advance your business initiative with more customers and manageable contract processes, you must bring speed and security into your workflows to make remote working a success. Digital signatures are all you need for agile and sustainable business processes. Define your business requirements and choose the best-suited e-signature solution for your start-up to increase efficiency and sustainability.

Date

Fri, 06/10/2022 - 12:00

Author Name

Pooja Patil

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Digital signatures: Key to thriving start-ups in today’s business era.

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Smoother Workflows & Swifter Processes - E-Signatures Make All Your Business Functions Better!

Read more about Smoother Workflows & Swifter Processes - E-Signatures Make All Your Business Functions Better!

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A long time ago, futurists predicted that the world would become automated enough to free humans from the drudgeries of office and manual labor. Yet, astonishingly, we are very near to that era where almost everything is automated, right from households to business processes. As organizations move forward with digitization, we can clearly see the well-established importance of automation everywhere.

Over 75% of organizations are anticipated to implement some level of automation across various processes by 2024.

Businesses are increasingly incorporating automation in their processes and workflows for high-level process optimization and cutting down on operational costs. As a result, a profound shift has been seen in the way businesses operate: a shift away from the exasperatingly rigid business processes of the bygone. Transformation isn’t just about tweaking the same old methods; it’s about rethinking and reshuffling workflows to thrive in the modern business world.

In a nutshell, all your AI-enabled digital workflows now need is an intelligent solution that can be integrated with all the business processes. An electronic signature is one such smart digital solutions that can be integrated with business operations and processes. No matter what industry you operate in or where your company is located, all you need is an apt e-signature platform, a device, and a browser to help your organization work faster, smarter, and better. You may wonder why e-signatures are so crucial for businesses worldwide. The truth is that Americans use about 31.5 million tons of printing and writing paper each year, equalling about 660 pounds per person. This requires 535 million trees and 12 billion gallons of oil.

Businesses spend $8 billion annually on managing paper in the USA.

The numbers speak for themselves, and it is evident that eliminating paper usage from business processes can reduce a large number of costs as well as environmental damage. This can be done by incorporating e-signatures, which not only helps you reduce paper costs but also helps reduce your carbon footprint, printer and scanner costs, fuel costs, and so on. However, businesses have to deal with various security measures, legality concerns, and confidentiality. So how would you know using electronic signatures won’t harm your brand image or reputation? Here are the requirements for an e-signature to be legally valid:

Consent:
When two parties get together in a contract or an agreement, they both must agree to the terms and conditions applied. Most e-signature platforms explicitly ask for the signatory’s consent before acquiring a signature.
Intent:
Electronic signatures are valid if both parties intend to sign. This can be inferred from the signer’s approval of the reason for signing the electronic record.
Verification:
Verification is another requirement to demonstrate the legal validity of e-signatures. Electronic signatures confirm the signer’s identity with the help of in-built verifications and authentication mechanisms such as OTP verification of two-factor authentications to ensure only the authorized person signs the document.
Auditability:
Audit trails are referred to as the final aspect of validating the process of e-signing. Audit trails help the signatories or legal entities track and gain visibility into each step of the e-signing process.

Also Read: Digital Signatures: Bolstering the Business Game for Start-ups

What Benefits Do E-Signatures Bring To Your Business Functions?

Sales and marketing:
The sales and marketing department acts as a matchmaking website. First, the marketing team creates plans and campaigns to generate new leads, the sales team drives the efforts to contact and convince the customer, and then the relationship happens – customer relationship. But in most cases, it doesn’t go as smoothly as planned. There are several obstacles that come with manual signing processes. Marketing teams may get delayed in running campaigns due to the time spent taking approvals and sending the content ahead. Sales teams may lose a lead in the process of communicating and sending documents back and forth for review and signing. This is where e-signatures come to your rescue. Integrating electronic signatures in your sales and marketing processes helps:
- Spark the conversations with prompt responses
- Boost lead conversion with quicker and secure e-signing
- Improve customer experience and satisfaction
- Makes it easier to onboard new customers with a smoother agreement signing
Customer service:
Like sales and marketing, customer support strives to deliver the best customer experience. The customer service process helps people gain more information about the product or service and feel confident that they are getting the best for their investments. While solving consumer issues, acknowledging their concerns, and making their journey a fruitful experience is impressive, businesses can’t afford to have any black holes in the process. Moreover, receiving feedback and customer reviews is a must-have for businesses, and manual processes tend to leave a bad impression. Integrating e-signature solutions into the customer service process helps businesses deliver the best experience possible with prompt responses, hassle-free signing, and quicker customer feedback. Moreover, digital documents can be stored electronically to avoid storage costs and human errors, making future transactions foolproof.
Finance department:
Budget approvals, invoices, customer contracts, and forecasts: every document requires prior sign-offs. It is of profound importance, especially in finance departments, to do a double verification before sending the money to a third party. All of this makes the finance department the most paper-heavy section, with a large number of documents passing through daily. Moreover, every document, agreement, or contract requires thorough review, approval, and transfer back to the concerned person before being archived for forthcoming references, accounting, and audit purposes. This process takes away precious person-hours, not to mention costs millions in time and money. Keeping track of the documents and the signing progress can be challenging with wet signatures and physical documents. E-signatures, on the other hand, help finance teams:
- Sign confidential documents within minutes.
- Track real-time status of internal and external financial documents.
- Get vendor contracts and quotations signed with ease and security.
- Reduce paperwork – save cost and time and improve efficiency.
- Make agreements and contracts legally binding with adherence to laws and security certificates.
Human Resources:
While the whole organization drives efforts toward generating leads and getting new customers, human resource strives to find the right talent for the company. It is challenging to find, onboard, and retain talented employees in today’s competitive market. Organizational culture, nature of the job, employee benefits, insurance, and so on; numerous things come into consideration while onboarding any new employee or retaining existing ones. Moreover, human resource teams have to deal with overwhelming data, hiring documents, joining letters, bonus certificates, and many more. Manually sending and receiving every document back and forth to each employee can take unimaginable time and effort. This can easily be managed using e-signatures. Using electronic signatures in their processes, human resource teams can:
- Send out offer letters with ease.
- Manage hiring documents and get them signed timely.
- Roll out insurance and other benefits with ease.
- Manage employee documents and history efficiently for future reference.
- Onboard new employees with ease.
- Relieve employees’ off-duty without any disruptions.

Start DrySigning!

DrySign e-signatures help keep your business processes running smoothly and swiftly. DrySign provides an intelligent platform that completely transforms your signing experience and helps you thrive in the modern business world. You can sign, share, and store any document with end-to-end security. In addition, it complies with the e-signature laws that differ according to the country, making your cross-country transactions legal and secure. All you need is to define your specific business requirements and get a suitable e-signature solution. The change it drives is noticeable. DrySign provides features such as audit trails, a smart dashboard, group signs that allows you to invite one or more signatories to sign the document, real-time notifications, and many more! Integrating DrySign into business processes helps organizations score numerous benefits:

Enhanced security
Greater savings
Workflow efficiency
Greater flexibility
Improved customer satisfaction

Date

Thu, 06/16/2022 - 12:00

Author Name

Pooja Patil

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Drive sustainable and agile business functions with e-signatures

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How E-Signatures Play A Vital Role In Human Resource Management

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Human resource management teams have always had it rough, right from recruitment of the right personnel to their exit process. During the pandemic, they were in an unenviable position to ensure that teams within organizations ran smoothly without any impediments to productivity. The COVID-19 pandemic has forced HR (human resource) teams to transform into a different beast to handle teams working remotely as well as expedite their onboarding safely, all the while fighting attrition. The digital transformation of processes became a necessity owing to the pandemic and many corporations being stuck in legacy systems. Naturally, remote working accelerated the need for digital solutions in human resource management, too.

Electronic signatures are vital for departments dealing with excessive paperwork. They save on resources and time and push the organization towards embracing greener alternatives. Forms and agreements that require personal verification can make use of e-signatures to authenticate with ease and lower the burden on HR teams. DrySign, a digital signature platform by Exela Technologies, is a perfect fit for human resource management teams looking to integrate new technologies to streamline their process.

The time employees waste on completing HR-related tasks adds up to an average of 40 million hours each month & about $8.15 billion in lost productivity across large companies

To those unfamiliar with the surfeit of tasks undertaken by HR teams, we have divided them into the following way for easy understanding:

Hiring:
HR teams are tasked with attracting the best talent to ensure their organizations get the very best in a tight market amid growing competition. With increasing hordes of talent joining the workforce each year, human resource managers have a tough task ahead of them to retain the best of them. With DrySign’s audit trail, HR managers can keep track of all the recruits and get the necessary e-signatures.
Onboarding:
The onboarding of employees assists the organization in utilizing them effectively and immediately in the organization. Immediate onboarding will make the new hire feel welcome in the company and ready to contribute to the team. DrySign’s digital signature platform can make it convenient for employers and potential employees to review and sign paperwork. This can eliminate the large swathes of paperwork needed to sift through by HR teams and expedites the process. Forms such as I-9, W4, direct deposits, and benefits can be digitized and filled seamlessly instead of drowning the HR team in paperwork.
Employee Management:
Employee management is key in ensuring employees adhere to company rules and contribute to organizational goals. HR teams can use it to identify the right talent and retain them in the long run. Contract renewals and sudden employee terminations can be conducted remotely by using e-signature platforms.
Offboarding:
Employees ready to exit the company will provide a good opinion if they experience it. DrySign can ensure former employees stay loyal to company secrets through the signing of non-disclosure agreements. Employers can ramp up their process by sending the required documents over a secured email and attaining the same within minutes. The platform allows employees working remotely to gain access to the platform and makes it highly convenient for HR managers.

Benefits of E-signatures

E-signatures are critical to businesses looking to optimize their process and save on resources and costs. The following are key for HR departments looking to modernize their process:

Sustainability: Modern organizations taking the paperless route can save on huge volumes of paper and attain the same results through digital documents. HR teams can adopt a sustainable path and integrate digital signatures for onboarding new hires, and other paper-intensive processes.
Time-Saving: E-signatures can save time for HR departments usually swamped with various requests and aim to optimize resources. Documents can be signed online by candidates and HR managers simultaneously, and an audit trail will allow all signatories to have complete visibility over the document they have signed.
Easy Document Management: Document management becomes simpler for HR teams looking to search for employee documents and avoid the burdensome process. The use of electronic contracts can centralize the document management process with the document saved on the cloud.
Low Chances of Human Error: Electronic signatures can be applied to virtual and electronic documents eliminating the chances of human error. HR teams can leverage this benefit by automating the contract signing process and working with platforms that assist them in the venture.
Secured with High Encryption: Electronic documents are encrypted using the latest cybersecurity standards and accompanied by an audit trail made of digital signing certificates, copies of contracts, and emails to validate the authenticity of users.

Also Read: The ways Electronic Signatures are driving ROI

Are documents signed online Legally Binding?

E-signatures are valid across nations and legally binding in a court of law. They can be verified as per the digital signing certificate accorded to the user and the timestamp. New global laws such as GDPR (General Data Protection Regulation), eIDAS Regulation, and ESIGN Act are passed to this effect, with various digital signature platforms adhering to them. The rise in remote working and reliance on signatures on appraisals, maternity and paternity leaves, and contract extensions can drive its use in all organizations looking to go paperless and be sustainable in the future. With increasing competition in the workforce and the use of employment-oriented platforms by candidates, e-signatures can assist HR departments in attaining the best talent and save on resources and time. According to Zippia, 80% of (SMEs) Small and medium enterprises aim to integrate HR software to optimize their process. Digital signatures can make this possible with companies adapting the hybrid approach for employees as well as its need in hiring, layoffs, policy updates, and employee engagement.

Right to Work

I-9 forms for workers on hire or new employees on work visas need to be diligently checked with proper verification. Electronic forms can simplify the process for immigrants looking to start their new job without duress. The electronic signing of forms can ensure potential employees get verified and their documents are stored on a centralized system. I-9 contains a share code that is shared between employers and potential employees to prove their right to work. E-signatures can simplify the process with contracts being signed with ease and eliminating the need for passports or ID cards. HR teams need to familiarize themselves with these laws and adhere to UK-prescribed policies to avoid paying hefty fines.

Mental Health Policies

Mental health has become highly relevant in recent times due to the influence of social media, the stress of current lifestyles, and changing dynamics of the workplace. HR managers have the onus of creating a workplace-friendly mental health policy deemed to suit individuals facing any issues during their service period. The COVID-19 pandemic has necessitated the development of contracts with such clauses as well as the acceptance of electronic signatures. In addition, prominent healthcare organizations are encouraging digital documentation which can prove to be beneficial to organizations covering these benefits in the future.

HR in the Future

The Human Resource Management market is set to expand by 12.8% from 2022 to 2030, as per the latest report by Grand View Research. With companies looking to hire more digitally aware employees, they require to upgrade their current systems and processes for retention of the right resources as well as the adoption of technological solutions to improve HR operations. With HR driving the organizational pace at workplaces, e-signatures can lead the way in digitization. The COVID-19 pandemic has accelerated the digital transformation of processes and systems with the HR department not being left far behind. The aim to be sustainable in the workplace by foregoing various expenses and resorting to digital documents can be time-saving for organizations. Work from home adapted by corporations can play a huge role in keeping them on the paperless route and alleviating the burden on HR teams.

The onset of the Great Reshuffle or Resignation can culminate in more documentation with the HR team with the maximum workload. The shift from paper documentation and the ability to showcase effectiveness through the use of digital tools and processes can ramp up digital transformation. The use of platforms or software can enhance work efficiency in HR teams and improve workflows. The use of digital manuals in modern workplaces and automation of manual tasks can be critical in scaling organizational growth.

Human resource department managers can make hiring simpler by integrating e-signatures into their hiring process. This can decrease the overall costs to the department and increase productivity in the long run.

Speak to us today and start your Digital Transformation Journey with DrySign!

Sources: hrexecutive.com | grandviewresearch.com

Date

Mon, 08/08/2022 - 12:00

Author Name

Vijith Menon

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Use e-Signatures to Alleviate the Workload

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eSignatures to Project Management: 6 Best Software for Freelancers in 2022

Read more about eSignatures to Project Management: 6 Best Software for Freelancers in 2022

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In a world full of cutting-edge technologies, sensational innovations, artistic tools, and intelligent applications, we are forgetting to talk about the artisans behind those amazing creations. Oh, wait! You might be wondering why I am referring to developers as artisans. Well, every creation resulting from a successful combination of intelligent tools, skills, and mindfulness is an art. Today’s digital artisans deal with numerous virtual tools and technologies to churn out one successful product. The same goes for freelancers; they not only have to do their job, but manage project timelines, decide on pricing, and keep track of deadlines to submit work on time. This makes it crucial for them to get their hands on some efficient tools that can ease their work. To work under the constant pressure of looming deadlines, it becomes crucial to skillfully manage everything together.

Here are some lookouts freelancers are required to keep a tab on:

Productivity: It all starts with time; optimizing time is crucial. Using simple and easy-to-use software to tally the time spent with clients in meetings, and organizing a to-do list will help you keep an eye on your productivity.
Learning: Every new project is an opportunity for further learning. The insights gathered during your project journey will help you efficiently and effectively take your new steps.
Finance: Being in one’s power would require one to manage their finances. But, being in charge will need you to reduce costs wherever possible, offer a host of benefits, and reduce stress to efficiently manage your finances.
Mindfulness: Besides all the hard work, it is important to respect your mental health and energy too. Creating a balance in your workflows will help you dedicate more time to priority work.
Communication: Whether you are working with in-person or remote clients, communication is crucial for healthy client relationships. Communication is the key to optimizing your workload.

Six best software for the freelancer of 2022

As a freelancer, you must play the role of owner + finance manager + admin manager - all in one! Acutely planning tasks, executing the workflows, and following deadlines, make software, tools, and templates a non-negotiable part of any freelancer’s workflow. Managing workload effectively is one of the most significant skills freelancers need to have. Tools help freelancers to maintain demand, improve workflow, maintain client relationships, and deliver quality work. Here are the six best software that acts as lifesavers for freelancers.

Project management software:

Freelancing is a tricky, one-person show that either ends up in success or a life-long struggle. The work day for freelancers is full of diverse tasks starting from creating a proposal, drafting contracts, client on-boarding, creating invoices, and tax compliance. And after this rollercoaster ride, they have to get on the business execution part that is going to make money. We all think of how well organized we are but do we actually not need the support of any software or applications? Well, not sure about everyone else, but freelancers do surely need it. Being a single entity executing and managing so much individually, there’s certainly something bound to go wrong. Right from time management to task management, project management software makes it easier for freelancers. Here’s how project management tools can help:
- Program Management software application makes sure all the lined-up projects are executed and managed properly.
- It makes the tracking of your tasks and progresses transparent and traceable.
- It manages your meeting with the clients, keeping track of all interactions for future reference.
- It prioritizes the tasks depending upon the urgency and makes the project information easily accessible through user interfaces.
- You can manage the risk factor by ensuring all the risks and potential threats related to the development of the project are tracked and eradicated without any damage.
CRM software:

Similar to full-time businesses, freelancers also feel the need to keep their customer interactions and relationships sturdy. Customer relationship management systems are designed to centralize transactions, customer interactions, and projects. Here’s how to evaluate the best CRM software for freelancers in 2022:Similar to full-time businesses, freelancers also feel the need to keep their customer interactions and relationships sturdy. Customer relationship management systems are designed to centralize transactions, customer interactions, and projects.
Here’s how to evaluate the best CRM software for freelancers in 2022:
- Allows users to generate follow-up tasks, schedule and track appointments, and make notes for every lead, account, contact, and deal.
- Users should be able to make calls within the app, as well as send messages using SMS, email, social media, chat, and other channels.
- The software should allow users to get insights into website visitors, their interests, and engagement levels.
- It allows users to create proposals, quotes, non-disclosure agreements (NDAs), contracts, master service agreements (MSAs), and other business documents.
E-signature software:

A freelancer’s work-life is peppered with documentation. Vendor contracts, invoices, SOPs, NDAs, etc., are only a small number of documents that a self-employed person must handle on a day-to-day basis. Thankfully, top-of-the-line electronic signature software with the best security features makes a strong presence felt in the market in digital documentation and online workflows.
- Removes time and location constraints; you can quickly sign any document from anywhere.
- eSignatures are legally binding and secure that keep all your confidential data safe. You can also use e-signed documents as proof in a court of law.
- Most platforms provide an intelligent dashboard to allow document tracking.
- You can invite one or multiple signatories to sign a document online.
- Proposals, contracts, tax documents, etc., can be signed online with the help of an eSignature solution.
DrySign is an eSignature software that enables users to securely sign contracts, agreements, and forms online. Paving the way for paperless offices, solutions like DrySign also give freelancers the freedom to keep doing business even when they are on the move.

Also Read: How Digital Signatures can Help Freelancers - Photographers

Accounting software:

Freelancers are on their own, in charge of everything, right from invoicing and following on payments to compliance with the latest legal and tax rules, and everything must be done without delays. In a nutshell, if you are not clued into your finances, in all probability, you won’t be in business for long. This makes it imperative for freelancers to have good accounting software that can help with the invoices and bills, and deliver easy-to-understand reports to give a comprehensive view of your income at the end of the tax year. On top of this, a few comprehensive freelancer accounting software incorporates a broad range of features, including project management, time tracking, integration with online payment portals, bank account integration, and receipt scanning. Here’s what makes accounting software well-suited for any freelancer, irrespective of whether they are just starting out or are on top of their game:

Bonsai, Freshbooks, Freely, Quickbooks, Harpoon, and Fiverr Workspace are a few of the trending accounting software that will ease your job by simplifying the finances.
- The user interface should be easy to use, intuitive, and have all the adequate information needed for accounting.
- The software should focus on core accounting features such as tracking payments, invoicing, and logging deductible expenses.
- The application must allow digital receipts, digital records, and managing expenses through any digital device.
- The pricing should be fair and allow users to upgrade as per the requirements.
Time tracking software:

Time tracking software has become increasingly popular among freelancers in the past few years. Being mindful of the ways you spend time is one of the best steps you can choose to be more productive, efficient, and organized at work, saving time in the long run. If you are looking to get serious about time management, then time tracking tools will help a lot. Here are some factors that will help you choose the best time tracker software:

Platforms like ClickUp, Buddy Punch, Toggl, Atracker, and Harvest are the top time tracking software you can choose from.
- A live timer can be used to track the time you are spending on an active task.
- Time edits allow you to do more than enter and edit times. It allows users to customize the entry in any way and format they prefer.
- Getting detailed reports is the most important feature one would look for. The reports should be easy to understand and comprise all the information you need.
- Some applications that allow you to track daily activities, such as not forgetting to drink water or reminding you to exercise, are also a great way of tracking how you spend your day in a balanced way and avoiding the risk of over-exhaustion and burnout.
File sharing:

File sharing is an integral part of freelancing. Whether you want to share files with clients or fellow freelancers, you should be aware of the best way to do it right. For smaller files of up to 20 MB, email is the easiest way to share files. However, you will need an individual solution to share larger files. On top of this, to avoid the risk of data loss or theft, it is crucial to have a trusted solution. To name a few, Google Drive, Droplr, Dropbox, Huddle, and Box are some renowned names to choose from for your file sharing needs.

It’s a wrap!

Being a freelancer isn’t easy; it comes with myriad responsibilities and tasks. Although not unmanageable! With the adherence and the right combination of tools and technologies, you can thrive in the modern business world. The above-mentioned software can ease your administrative work, helping you focus on more priority tasks that help you scale profits. And as we know, no deal can be signed off without signatures. E-signatures have come to our rescue; they make everything easy and accessible to simplify the freelancing journey. DrySign e-signatures are legally binding and encrypted to ensure end-to-end security. Get DrySign to see the change now.

Date

Wed, 08/17/2022 - 12:00

Author Name

Pooja Patil

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eSignatures to Project Management: 6 Best Software for Freelancers in 2022

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E-signatures to Help HR Teams Improve Efficiency

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Description

The Great Resignation or the mass exodus wherein employees voluntarily resigned in higher-than-ever numbers, started around early 2021. This was and continues to be the effect of the COVID-19 pandemic, low pay, better opportunities, poor leadership, and lack of recognition. On one hand, this phenomenon has left many gaps in the market, and on the other, it has created many opportunities for employees and inevitably, doubled the work of HR teams across the globe. HR Teams carry the onus of finding the right talent, for the right price.

Even as we speak, every industry is being swept by newer technologies simplifying jobs and workflows. However, when was the last time you found an HR team as digitally equipped as their counterparts in let’s say the IT department? The HR of even a small-sized business is a department that manages tons of paperwork and documentation, and long, tedious workflows. Recruitment, termination, employee policies, and internal events, all of these need activities need to be well-documented. While most of these use digital documents and online exchange, the one place where there is a major bottleneck is signatures. Even today, it is the norm to print out a form, letter, or contract just to sign it physically, then scan and send it back to the recipient by email. This step creates plenty of confusion, unnecessary paper wastage, and unwanted delays.

41% of companies require signatures on more than half of their documents, printing more than half of their papers to get them signed. – MSBDocs

Electronic or e-signatures can solve this dilemma with ease. Adopting an e-signature solution allows HR teams to go fully digital with no need to print a single paper and makes all workflows and processes smooth, seamless, and error-free. Switching to e-signatures upgrades the recruitment process and helps HR teams to stay on top of their game.

Benefits of eSignatures for HR

Say bye-bye to paper – HR managers can drastically reduce the use of paper by going digital and incorporating e-signatures to complete their workflows. HR can finally bid adieu to managing long, tedious, and strenuous physical paperwork and complete their end-to-end documentation online.
Remote Hiring – The pandemic changed the way people work and how HR teams hire. Thanks to remote working, companies can now hire talent globally and not be restricted to a single geographic location. This opportunity, however, comes, with its own share of problems for Recruitment & Hiring teams. Adding an e-signature solution to the hiring process and formalities can transform how new talent is brought onboard.
Eco-Friendly Offices – Has your company or team struggled with environment-friendly options to go about work? Did you know that 70% of the total waste in offices is made up of paper, and as much as 30% of print jobs are never even picked up from the printer? Cutting paper out of your work processes can finally mean you can go 100% eco-friendly.
Security & Compliance - Electronic signatures are recognized and considered legally binding in over 60 countries all over the world. In fact, the leading awareness of the legal acceptance of e-signatures has led to the projected growth of the global digital signature market to reach $14.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 31.0%. (MarketsandMarkets, 2020)
Enhanced User Experience - One of the main aims of any HR team is to simplify and enhance the experience of existing employees, newcomers as well as prospective joiners. A user-friendly, hassle-free documentation process for joining and relieving formalities can significantly impact the experience of the user and also earn the company the reputation of being a digitally forward organization.
Save Big on Admin Costs - No paper means no printing, no ink, no pens, no folders, etc. It also means no spending on postage, couriers, and mailing of those 50-page contracts that need physical signatures.

Also Read: Smoother Workflows & Swifter Processes - E-Signatures Make All Your Business Functions Better!

Companies that adopt e-signature solutions reduce document handling expenses by a whopping 85%. – MSBDocs

E-signatures can alleviate HR teams of their workload and help them focus on their core tasks. DrySign, an e-signature solution by Exela Technologies, is highly reliable and convenient for dealing with sensitive documents such as non-disclosure agreements (NDAs), contracts, bonds, and performance appraisal forms. It aims to encourage digital transformation in organizations and automate tedious processes by eliminating any bottlenecks in manual processes and streamlining the workflow.

Advantages of using DrySign

High Security & Compliance – DrySign is an easy-to-use, affordable, and secure electronic signature platform for daily documentation activities. DrySign digital signatures are legally binding and are compliant with e-signature laws. Other additional security features include password-protected documents, SSL Certificates, and multi-factor authentication. These measures ensure that your confidential documentation is tamper-proof and provide security against fraud and unauthorized access.
Pocket-Friendly – DrySign allows organizations to sign documents online to streamline hiring and exit processes. It can eliminate nearly 85% of redundant costs suffered by most HR teams when it comes to admin costs such as printers, ink, bundles of paper and stationery, etc. Our customers have been able to save 60% of internal and admin costs within a year of using DrySign.

Sign a document for free now: https://drysign.exelatech.com//#block-signup

Sign from Anywhere, Anytime – We know it’s been said 1000 times but the pandemic brought all work to a complete stand-still for almost over a year. Imagine if you could sign contracts, agreements, fill out forms, etc from anywhere, from any device and all you needed was an internet connection. Yes, DrySign makes it easy to work from any location and ensures that business doesn’t stop no matter what the situation.
Features for Flexibility – DrySign provides users with features that bring efficiency, flexibility, and productivity to their workflows. Features such as Group Sign allow you to send a document to several people at once for collecting many signatures in one click. The Template feature allows you to recreate documents in minutes without having to do the paperwork all over again. With real-time mail trails and notifications and reminders, your business can always stay on top of contracts & agreement documents.
User Experience – Adding a tool or solution that simplifies processes can be helpful to any department. With HR teams, documentation plays a major role. The way the HR team handles documentation can also have a great effect on employees, colleagues, and new joinees. Adding DrySign e-signatures to a workflow instantly cuts down hours on manual work and risk, while enhancing the experience of the user.
No Training Required – DrySign easily integrates with enterprise solutions such as Dropbox, OneDrive, and Google Drive. It is an extremely easy platform to use and hence does not even require any additional training for users.

What can you sign?

HR teams can use DrySign to take approval sign-offs on new policies from the management. They can use it to get employees to sign forms, renewal contracts, etc. in the workplace.

HR teams can utilize electronic signatures in recruitment, onboarding, performance management, benefits management, and payroll. Applications and reference consents can be signed easily using e-signatures. New hires require a volume of paperwork, including I-9s, tax forms, employee identity, and their verification. This process can also be completed remotely with the aid of digital documentation.

With hybrid environments coming to the fore, changing technologies, and flexible workspaces, HR practices need to improve with the coming times.

Reimagine your workflow with DrySign today.

Source: netsuite.com | msbdocs.com | marketsandmarkets.com

Date

Tue, 08/23/2022 - 12:00

Author Name

Vijith Menon

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E-signatures to Help HR Teams Improve Efficiency

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