The healthcare industry has seen remarkable progress in recent years, with advancements in technology paving the way for innovative solutions.

The US Health & Medical Insurance industry has reached $1.2tr in 2023.

Digital health, in particular, has gained momentum and promises to transform how medical services are delivered. Along with the emergence of artificial intelligence and machine learning, efforts to eliminate data silos, and the proliferation of wearable devices, the industry has also grappled with opioid and behavioral health crises. The momentum toward digital health has been invigorating - and it is here to stay. Technology integration has presented countless healthcare innovation opportunities attracting new and existing investors. The success and validation of digital health startups have demonstrated tangible benefits and real value being created within the industry. However, even with the prevalence of digital health, the medical insurance industry has been slow to keep up with the pace of technological change, still relying heavily on manual operations.

Despite being a critical component of our lives, medical insurance processes are often time-consuming, paper-based, and prone to errors. This is where electronic signatures come in, allowing the industry to adopt digital workflows and streamline operations. In addition, by enabling customers to sign and verify agreements from almost anywhere, digital signatures provide compliance support and enhance security with digital audit trails, authentication, and end-to-end encryption. In this blog, we'll explore how digital signatures can help the medical insurance industry overcome its challenges and embrace the benefits of digital transformation.

What is health insurance? 

Health insurance is a contract between an individual and an insurance company that provides financial assistance in the event of a medical emergency. The policyholder pays a premium fee, and in return, the insurance company covers some or all of the medical expenses resulting from illness, injury, or accident. Essentially, health insurance offers a guarantee of immediate financial aid when needed most. When it comes to reimbursing medical expenses, insurance companies typically offer two methods:

• Cashless Treatment - With this method, the policyholder is not required to pay any costs to the network hospital. Instead, the insurance company settle down the bill directly with the hospital.

• Reimbursement - Under this method, the policyholder is responsible for paying the medical expenses upfront. After the treatment, the policyholder can apply for reimbursement from the insurance company. The insurance company will review the claim and reimburse the policyholder for eligible expenses, subject to the terms and conditions of the policy.

Is a health insurance policy worth the hype? 

The value of a health insurance policy is often overlooked until a medical emergency arises. Therefore, it's essential to understand the numerous benefits of having health insurance, especially as medical emergencies can happen unexpectedly, resulting in a significant financial burden.

In 2021, over 300 million people had health insurance, around 92% of the US population.

Purchasing a health insurance policy at an early age is recommended, as it can provide comprehensive coverage at an affordable premium, offering future peace of mind. Additionally, some health insurance policies may qualify for tax deductions on premium payments, further increasing their value.

A health insurance policy offers a wide range of benefits, including:

• Access to superior medical treatment without worrying about high medical expenses
• Specialized coverage for critical illnesses
• Coverage for expenses related to emergency road ambulance services
• Affordable premiums for younger individuals
• Cashless claim benefits allow the policyholder to focus on recovery rather than worrying about hefty medical bills
• Protection of savings during medical emergencies
• Safeguarding individuals and their families from financial risks associated with medical emergencies

A health insurance policy is a valuable investment that offers peace of mind, protection, and financial security during times of medical crisis.

Also Read: Digital Signatures: Elevating the Healthcare Service Experience

How Does Digitalization Impact the Health Insurance Industry? 

Digitalization has significantly impacted the health insurance industry, which heavily relies on administrative processes and documentation. The traditional paper-based processes are often inefficient and time-consuming, resulting in higher costs for patients, healthcare providers, and insurance companies. The adoption of digital technologies, including digital signatures, has accelerated in recent years, offering a secure and convenient alternative to traditional pen-and-paper signatures.

41% of consumers want to look for life insurance policies digitally.

Digital signatures streamline workflows, enabling faster processing times, improved security, and reduced costs, ultimately transforming the industry.

Integrating digital signatures in document workflows enhances efficiencies and reduces risks in the health insurance industry. Digital insurance agreements streamline the contract signing process and eliminate obstacles from document workflows. As a result, customers can securely sign and attest agreements from almost anywhere, allowing for faster notifications to policyholders and real-time completion of agreements. This empowers customers to take charge of their medical insurance policies while reducing costs and improving security for all parties involved.

Benefits of using digital signatures in the medical insurance industry 

• Faster processing times

  One of the most significant benefits of using digital signatures in the medical insurance industry is the speed at which documents can be processed. With traditional paper-based systems, documents must be printed, signed, and then physically transported from one location to another. This process can be time-consuming, especially when multiple parties are involved.

  With electronic signing, however, documents can be signed and transmitted instantly. This not only speeds up the process but also reduces the risk of errors or delays due to missing or illegible signatures.

• Increased security and fraud prevention

  Another significant benefit of using electronic signatures in the medical insurance industry is the increased security they provide. The use of intricate algorithms in digital signatures helps guarantee the uniqueness of the signature to the specific document being signed, making it impossible to replicate or tamper with. This increased security helps to prevent fraud and unauthorized access to sensitive information. For example, digital signatures can ensure that only authorized personnel can access patient medical records, which helps protect patient privacy and prevent identity theft.

• Improved customer experience

  Online digital signature solutions can improve the overall customer experience. With traditional paper-based systems, customers are often required to sign multiple documents manually, which can be time-consuming and cumbersome.

  By using digital signatures, clients can sign documents electronically using their computer or mobile device, eliminating the need for printing, scanning, or mailing. This not only saves time but also provides a more convenient and user-friendly experience for customers.

• Cost savings for insurance companies

  Using digital signatures can result in significant cost savings for insurance companies. Insurance companies can save money on printing, postage, and storage costs by eliminating the need for paper-based systems. Additionally, electronic signatures can help streamline processes, reduce errors, and improve overall efficiency, leading to further cost savings.

How are digital signatures being used in medical insurance? 

To fully utilize the advantages of digital signatures in the medical insurance industry, it is crucial to understand how they are being implemented. Insurance companies are leveraging digital signatures in several ways to optimize their workflows and increase efficiency. These include:

• Facilitating the electronic signing of policy documents and other contracts
• Obtaining patient consent for treatment through electronic signatures
• Verifying patient identity electronically
• Authorizing medical procedures and treatments with secure digital signatures.

Moreover, digital signatures can also be utilized to automate specific processes, such as medical billing and claims processing, leading to even more efficient and error-free operations. By embracing digital signatures, medical insurance companies can ensure faster processing times, improved security, and a seamless customer experience.

Medical insurance documents that can be signed digitally 

With e-signature technology, many medical insurance documents can now be signed electronically, offering several benefits, such as faster processing times, improved accuracy, and enhanced security. Some of the medical insurance documents that can be signed digitally include:

• Insurance applications - Customers can sign insurance applications electronically, accelerating the underwriting process and minimizing errors.

• Claims forms - Digital signatures can be used to sign claims forms, reducing potential errors or delays in the claims process.

• Provider contracts - Digital signatures allow online contract signing between insurance companies and healthcare providers, such as hospitals, clinics, and individual healthcare professionals.

• Compliance documents - Digital signatures enable the signing of compliance documents or other regulatory documents, such as HIPAA forms or other regulatory documents, ensuring they are legally binding and secure. Other documents, such as consent forms, authorizations, and benefit summaries, can also be signed digitally.

Conclusion 

Electronic signature generator platforms are revolutionizing how we do business, and the medical insurance industry is no exception. By providing faster processing times, increased security and fraud prevention, improved customer experience, and cost savings for insurance companies, digital signatures are helping to transform the medical insurance industry.

While there are challenges and limitations to consider, the future of digital signatures in the medical insurance industry looks bright. As technology continues to evolve and regulations become more favorable, we can expect to see even greater adoption of digital signature technology in the years to come.

Fortunately, DrySign, an online digital signature solution, is here to help you through your insurance selling or buying journey. With a wide range of intelligent features, adherence to regulatory laws, and security measures, DrySign digital signatures can make you stand out in today's digital-first, competitive business world. 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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Effective communication is essential to the success of any business. Whether communicating with customers, partners, or employees, the mode of communication is constantly evolving. Today, digital communication has become the norm, providing instant connectivity and the ability to disseminate information quickly and efficiently.

In addition to its speed and efficiency, digital communication has transformed how businesses collaborate and build relationships. With tools such as instant messaging, video conferencing, and email, teams can work together seamlessly, regardless of physical location. Moreover, digital communication has created new opportunities for businesses to connect with customers and partners worldwide, opening up new markets and increasing competitiveness.

While digital communication has revolutionized the way we connect and collaborate, it also comes with its own set of challenges. Emails, in particular, are prone to infection by malware and can often be ignored by potential customers. Some are even stopped by internet service providers or blocked by firewalls, making it difficult for businesses to reach their intended recipients. This is where electronic signatures, or eSignatures, come into play. By making digital messages seem genuine and authentic, they can help ensure that important messages are not lost in the noise of modern communication. In the following sections of this blog post, we will explore the benefits of e-signatures, and why formalizing their use in communications is crucial for businesses in the U.S.

What are Electronic Signatures?

Electronic signatures, or eSignatures, are digital signatures used by major corporations to sign agreements or provide consent in digital documents. By adding an air of legal authority to all kinds of agreements, e-signatures have become the most common way for clients to provide their consent or agree to terms on contracts, forms, and more. In addition, unlike traditional wet signatures, they are highly secure and protect documents from corruption, ensuring that the signed document remains tamper-proof.

With 58.6% of the U.S. workforce working in remote or hybrid models, moving to digital communication has become essential for businesses. By using eSignatures, organizations can prove the authenticity of the signatory and ensure that the signed document is legally binding. However, to ensure the effectiveness of messages and the authenticity of e-signatures, it is crucial to formalize their use in digital communications.

Formalizing eSignatures provides a framework for their use, ensuring businesses can implement them consistently and securely. By establishing guidelines for its usage, businesses can also ensure that they comply with legal requirements and industry standards.

Necessary Characteristics of Electronic Signatures

When it comes to electronic signatures, there are several necessary characteristics that ensure their effectiveness and legality:

• Authenticity – Electronic signatures ensure the authenticity of professionals, creating a sense of trust between the sender and recipient. Additionally, they verify the sender's identity to protect the recipient from any potential malicious actors.

• Integrity – They protect the integrity of information by ensuring that the message is not corrupted during transit. A real-time mail trail also assures all stakeholders of any changes or modifications to the message, making it clear if the signature has been tampered with and rendering the agreement or official document void.

• Non-repudiation – Digital signatures ensure that users cannot renege on their word while signing a digital document. This accountability can help to prevent disputes that may arise from verbal agreements.

• Legal Validity – Electronic signatures are legally valid in a court of law, provided they adhere to the U.S ESIGN Act and UETA. By using solutions that comply with these regulations, businesses can ensure that their eSignatures are legally binding and enforceable in a court of law.

By ensuring authenticity, integrity, non-repudiation, and legal validity, businesses can confidently use electronic signatures in their communications, ensuring that their agreement and contract signing are secure and legally binding. In the following sections, we will delve deeper into the benefits of formalizing eSignatures in digital communications for businesses in the U.S.

Benefits of Electronic Signatures

• Cost Reduction – Electronic signatures help enterprises reduce expenses by eliminating the need for printing and scanning documents. It also simplifies document management by storing and archiving official documents in a centralized repository.

• Simplification of Signing Process – They make signing documents easier by guiding stakeholders on the necessary fields to fill in. The solution allows for adding fields to ensure all required information is captured. This simplification of the signing process helps fast-track approvals and reduce delays.

• Enhanced Security – They offer better security features than traditional wet signatures. E-signature solutions utilize two-factor authentication to ensure only authorized personnel can access the account. This protects against unauthorized access and malicious actors.

• Mobility – Electronic signature solutions allow businesses to operate anywhere, anytime. This is especially important today when remote work is becoming increasingly popular. In addition, the ability to sign documents electronically means that employees can work from anywhere, reducing the need for in-person meetings and speeding up business processes.

Don’t Miss to Read: Improve Team Collaborations with eSignatures

Formalizing Digital Signatures in Communications

Formalizing digital signatures in communications would provide a clear legal framework for using them in various contexts, including contracts, agreements, and other legal documents. Formal regulations would also help establish minimum security standards for digital signatures, ensuring that they are applied securely and reliably.

Moreover, formalizing eSignatures in communications would help to streamline many business processes, especially those that involve cross-border transactions. This would make it easier for U.S. businesses to compete in the global market by reducing the costs and time associated with international transactions.

The Value of Digital Identities

Digital identities are an essential component of digital communication and can be used to verify a person's or organization's authenticity. A strong digital identity is unique and secure and protects user data from unauthorized access. Furthermore, it provides transparency and accountability in the digital realm by ensuring that only authorized individuals can access sensitive information.

As technology continues to advance and the cost of implementation decreases, the infrastructure for supporting the creation of digital identities will become more widespread. One way to ensure the authenticity of a digital ID is through digital signatures. Formalizing them in communications, organizations can further strengthen their digital identities and protect their valuable data.

Why DrySign?

DrySign is an online digital signature solution that eases the burden of doing things manually. It can remove various roadblocks in the signing process by digitizing documents. With enterprises embracing digital transformation, DrySign makes it easy for organizations to adapt to the changing tides of business needs. Here are factors that make the solution lucrative to budding and growing enterprises:

• Legally Valid – DrySign adheres to international electronic signature laws and ensures that contracts and agreements signed by all parties involved are legally binding. They are defensible in a court of law and legally used in digital documents.

• Document Management – DrySign helps monitor all digital documents. Instead of relying on the traditional way of creating and storing documents in filing cabinets, enterprises can store them in a digital central repository. It makes retrieving and editing documents easy for organizations and reduces the error rate.

• Saves Time – Online digital signature solutions like DrySign save time for enterprises seeking to collect client signatures on agreements and contracts. Smart devices can collect signatures, making it a highly convenient solution.

• Improved Efficiency – Organizations can rely on electronic signatures to improve efficiency. Professionals can enhance their success rate by using eSignatures to sign up clients.

• Easy to Audit – Digital signatures create a timestamp at the point of signing. The time and date are proof of the document’s integrity, making it easy to keep track of any changes. It also helps prevent the risks of signature fraud.

• Manage Time – Enterprises must manage their time to reach their goals. Digital signatures help them in closing deals without wasting any time. In addition, it can overcome any inefficiencies it has faced using paper documents and wet signatures.

• Superb Customer Experience – They ensure that customers find it convenient to sign up for products and services as per their preference. In addition, they are time-saving and make it easy to handle business.

Conclusion

Not only do electronic signatures save time and resources, but they also offer better security and legal validity than traditional signatures. In addition, using digital identities further enhances the security of digital signatures and protects user data.

As more organizations embrace digital transformation, the need for digital signatures will only grow. As a result, businesses must formalize them in their communication strategy to ensure effective messaging, fast-track approvals, and reduce delays.

In summary, digital signatures are an indispensable tool for any modern organization. Its incorporation into communication workflows can increase efficiency, enhance security, and improve customer trust in businesses.

Have more questions? Learn more with these eSign FAQs.

Choose DrySign as your go-to online signature generator.

Source: esignly.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 today's highly competitive global marketplace, businesses are prioritizing the delivery of exceptional customer experiences (CX) to maintain a competitive edge. However, paying mere lip service to the idea is insufficient. To genuinely add value to their customers, organizations must adopt a customer-centric approach, tailoring their interactions across the entire customer journey and providing personalized, real-time service. Unfortunately, according to a report by Harvard Business Review Analytical Services (HBRAS), the majority of companies are struggling to achieve these ambitious goals.

The report says only 16% of CX-driven companies have a 360-degree view of their customers.

Even companies that have valuable customer insights often lack the necessary organizational structure to effectively leverage them. Mere claims of being customer-centric are insufficient; businesses must undergo a complete restructuring around their customers to provide a truly exceptional CX.

For companies looking to establish robust and enduring relationships with their customers, customer relationship management (CRM) has emerged as a crucial business strategy. This involves the collection and analysis of customer interaction data, including purchase history, preferences, and feedback, in order to develop deeper connections with them. The ultimate aim of CRM is to enhance customer retention and loyalty by providing personalized and timely support and solutions.

However, the customer relationship management (CRM) system suffers from several inherent limitations and drawbacks. These limitations include the absence of legally binding commitments within the system and the inability to determine the actual authorship of a file or its modification history. Fortunately, online digital signature solutions provide a practical solution to overcome these obstacles.

By utilizing digital signatures, companies can streamline the process of obtaining necessary document signatures, such as sales contracts, in a quick, efficient, and secure manner. This eliminates the need for physical presence and tedious, time-consuming manual document exchange. DrySign, a leading electronic signature generator, provides 128-bit secure signatures that integrate end-to-end authenticity into your documents. Additionally, DrySign's digital signatures are legally binding, eliminating the possibility of future legal disputes. If you're interested in transforming your customer relationship management, dive in below to discover DrySign's online digital signature solutions.

How are digital signatures important in gaining the trust of customers and business partners?

Effective customer relationship management (CRM) is critical to a company's success in today's fast-paced digital age. Secure and efficient management of electronic documents and transactions is a key component of CRM. Digital signatures play a vital role in transforming your CRM by providing a secure and legally binding way to sign and authenticate electronic documents. This enables businesses to streamline workflows, reduce costs, and enhance the customer experience. Incorporating eSignatures into your CRM strategy can help your business gain the trust of customers and business partners. Here are just a few of the many benefits of electronic signatures and how they can help your business stay ahead of the competition.

• CRM suites offer seamless paperless integration, but there is one critical step that remains outside the system: signing the contract. This is because a binding signature is legally required. Uploading scanned paper documents to the CRM can cause delays, loss of productivity, and manual errors. Fortunately, digital signatures have revolutionized the contracting process by eliminating paper usage. Many countries now legally recognize eSignatures as valid, just like handwritten signatures on physical documents. Electronic signatures not only ensure security and legal compliance but also save time and resources, enabling businesses to focus on building stronger customer relationships.

• At its core, digital signatures streamline the signing process for sales orders, contracts, support agreements, and other essential documents. Accuracy is improved by seamlessly integrating CRM data with these documents, making the process more straightforward.

• After signing, the documents are easily accessible in PDF format and can be stored or integrated into other CRM records for effortless tracking and commitment fulfillment. With digital signatures, businesses can say goodbye to cumbersome paperwork and embrace an efficient and secure customer relations management system.

• The process of managing contracts with eSignatures provides a cutting-edge approach that offers live monitoring and management. This allows all parties involved to track the precise status of the contract in real time, leading to a clear understanding of what actions need to be taken to finalize the deal.

• Digital signatures offer a winning combination of swiftness and affordability. The contract management process can be wrapped up in an instant without the hassle of sending documents back and forth through courier services or arranging in-person meetings. You can bid farewell to time-consuming processes with electronic signatures and enjoy seamless, efficient workflow management.

• Managing contracts has never been easier with the latest intuitive features available, including the use of eSignatures. These tools can be integrated directly into your CRM system and offer automated reminders to ensure swift document signing, expiry dates to limit access to time-sensitive agreements, password controls for added security, and a range of other powerful functions. By utilizing digital signatures, businesses can streamline the entire contract management process, eliminate the need for manual signatures, and reduce the risk of errors and delays. Experience a streamlined workflow, reduced costs, and greater control over sensitive documents with the cutting-edge contract management process powered by eSignatures.

• By integrating signed electronic contracts into your CRM suite, you can create a comprehensive audit trail that tracks document forwarding and shows the complete routing and signing history for each document. With intelligent dashboards, you can have real-time visibility of all agreements awaiting signature and those already signed. This data can be leveraged for powerful analytics, providing valuable insights and enhancing your overall business strategy. By having a clear understanding of your document status, you can optimize your workflow and make better-informed decisions, ultimately leading to improved customer relations management.

Also Read: 10 E-signature Statistics that will Blow your Mind

DrySign Digital Signatures: Revolutionizing the Customer Relations Management 

In today's fast-paced business environment, companies seek ways to streamline their processes and improve customer relationships. One area where technology has significantly impacted is the use of digital signatures. With eSignatures, businesses can easily and securely sign and exchange documents, contracts, and customer agreements. As a result, DrySign has become a game-changer in customer relations management (CRM). Here are five ways DrySign digital signatures can transform the customer relations management of any business.

• Faster Document Signing Process

  Traditional document signing requires a time-consuming printing, scanning, and mailing process, which can lead to delays and errors. With DrySign, businesses can complete document signing in minutes, reducing the wait time for customers to sign important documents, such as contracts and agreements. In addition, the speed and convenience of digital signing help improve customer experience, which is essential in customer relations management.

• Enhanced Security

  DrySign offers robust security features, such as document tracking and encryption. These features provide added protection against fraudulent activities, ensuring the integrity and confidentiality of signed documents. In addition, the added security that DrySign provides instills trust in customers, creating a positive impression of the business.

• Cost Savings

  Businesses can save on printing, postage, and paper costs by eliminating the need for printing and mailing documents. DrySign's electronic signatures reduce the costs associated with physical copies and eliminate the need for storage space. The cost savings from using DrySign can free up funds to invest in other areas of the business, such as improving customer experience.

• Improved Workflow

  With DrySign, businesses can automate their document signing processes, reducing manual errors and eliminating the need for multiple signatures. This automation improves the workflow and reduces the time it takes to process documents, making it easier for businesses to manage and maintain records. The improved workflow also increases efficiency and helps build stronger customer relations.

• Better Accessibility

  DrySign provides flexibility in document signing as signers can sign documents from anywhere, anytime. This feature improves accessibility and convenience for customers, which can be an essential factor in customer satisfaction. In addition, the increased accessibility helps businesses manage their customer relations better by providing a better overall experience.

Digital signatures are revolutionizing the customer relations management of businesses. With DrySign, businesses can streamline their processes, enhance security, save costs, improve workflow, and increase accessibility. These benefits lead to increased customer satisfaction, loyalty, and advocacy, making it a worthwhile investment for any business.

DrySign - Compliance and Certifications 

• PCI DSS

  DrySign adheres to the recent version of PCI Data Security Standards (DSS) 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. 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

In today's digital age, businesses need to constantly innovate and adapt to keep up with the changing market demands. Customer Relations Management (CRM) is one such area that has undergone a massive transformation with the advent of digital technology. With the rise of remote work and online transactions, it has become imperative for businesses to incorporate digital signatures into their CRM process. This is where DrySign comes into the picture, offering an innovative solution for businesses to streamline their customer relations management through the use of eSignatures. You can even try DrySign digital signatures for free to get more familiar with the platform. 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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The rise of technology has revolutionized the way we work and interact with each other, especially in the business landscape. As the workforce evolves, the use of digital tools has become a norm, and the new generation of employees, specifically millennials and Gen Z, are leading the charge. These tech-savvy employees are utilizing digital tools to drive productivity, efficiency, and growth in the workplace.

One such digital tool that has transformed the way businesses operate is electronic signatures or eSignatures. The ability to sign documents digitally has streamlined business agreements and created new opportunities for growth. However, the question remains: which generation will be the primary driver of e-signature adoption in the workplace?

In this blog, we'll examine whether millennials or Gen Z are more likely to embrace eSignatures and shape the future of business agreements. We'll explore the characteristics and preferences of each group to determine which generation is better suited to lead the charge. So, let's dive in and explore the e-signature market!

The Generational Shift 

As the nature of work continues to evolve, so do the expectations of each generation entering the workforce. To harness the full potential of these generations, companies must understand and anticipate their needs. Let's take a closer look at the two generations currently in the workforce.

• Millennials – The millennials or Gen Y are one of the largest groups to enter the workforce after experiencing the evolution of the internet. Having gone from dial-up to broadband speeds, they recognize the value of convenience and efficiency. As reported by CommBox, 71% of millennials expect businesses to prioritize their time. They are always looking for ways to become more productive and rely heavily on technology to streamline their work processes.

• Zoomers – The zoomers or Gen Z are the latest generations to enter the workforce. As digital natives, they are comfortable working with the latest technologies and rely on digital channels to make crucial decisions. This generation is adept at capitalizing on the opportunities opened up by globalization and prioritizes transparency and trust in the workplace. Companies must consider these characteristics to keep up with this new generation of employees.

Culture Shock 

Organizational culture can be challenging to change, especially when it comes to legacy technologies. Here's how the different generations approach it:

Millennials place a higher emphasis on company culture and a sense of purpose and belonging in the workplace. Contrary to popular belief, they aren't easily distracted by technology but, rather, use it to maximize efficiency and productivity.

By 2025, millennials will make up an estimated 75% of the global workforce, according to a report by Deloitte.

On the other hand, zoomers are comfortable with new working styles such as remote work, gig economy, and flexible career paths. Having grown up in the digital era, they are adept at learning new systems and customizing them to fit the organizational culture.

In the United States alone, members of Gen Z entering the workforce make up around 25% of the population, according to a report by Pew Research Center.

What is the impact of flexible working?

Flexible working practices have become crucial for today's employees, who prioritize work-life balance and the ability to work remotely. Here's how it affects different generations:

• Millennials – are open to flexible working practices that allow them to be productive while maintaining a healthy work-life balance. Businesses that support work-life integration and offer flexible working can attract millennials, especially those who are working parents. Flexi-work allows them to enjoy the benefits of reduced working hours, flexible shifts, and incentives for overtime. Additionally, their focus on upskilling and gaining new experiences instead of climbing the corporate hierarchy makes them valuable to digitally-forward organizations.

In fact, a report by Flexi jobs found that 40% of millennials with children prefer flexible working arrangements.

• Zoomers – Similarly, zoomers are big on flexi-work, especially after their experience during the COVID-19 pandemic. They prefer to work remotely and consider work-life balance to be a key factor in their job search. As digital natives, they can leverage the power of digital tools to be highly efficient at work. Moreover, a flexible approach to work can help companies stay lean while delivering on their client promises.

In summary, flexible working plays a vital role in attracting and retaining top talent, especially millennials and zoomers who prioritize work-life balance and the ability to work remotely. Companies that offer flexible working arrangements can not only boost employee satisfaction but also gain a competitive advantage in today's job market.

The Case for Electronic Signatures

The increasing adoption of virtual signatures in the workplace represents a significant shift towards a more efficient and streamlined way of doing business. Electronic signatures enable employees to complete important tasks from anywhere and on any device, improving the overall employee experience. Online digital signatures not only help organizations save time and resources, but they also provide a more convenient and user-friendly experience for employees

Also Read: How 2FA & eSignatures Protect Digital Documents

Benefits of eSignatures 

In today's fast-paced business world, electronic signatures offer a reliable solution for organizations seeking to rapidly expand their operations. By eliminating the need for paper-based transactions and manual processing, electronic signatures help businesses save time and resources while increasing efficiency and productivity. Here are its benefits:

• High Processing Speed – Electronic signatures considerably improve internal operations' processing speed. Since agreements are digital-based, current employees can proofread documents and reduce the margin of error.If there are any errors, employees can rectify them immediately without the need for continuous printing.

• Low Operational Expenses – Companies will be able to cut down on operational costs by switching to digital documents. Crucial documents can be stored and managed virtually on the cloud.

• Paperless Trails – Electronic signatures can provide transparency to communications and ensure goals are met. Project stakeholders can be accountable for their targets and provide their approval digitally.

• Advanced Security – Electronic signatures provide advanced security to digital documents. Since companies safeguard their data, this solution employs two-factor authentication and other security verification methods to keep malicious actors away.

• Legally Enforceable – Electronic signature solutions comply with the Uniform Electronic Transactions Act (UETA) and the E-Sign Act. It means that documents signed via eSignatures are valid in a court of law.

Why DrySign? 

DrySign is a trusted digital signature maker that enables users to easily create and apply their digital signatures to electronic documents. With just a single click, users can provide their consent and sign documents from anywhere, at any time. DrySign is committed to adhering to international eSignature laws and regulations, ensuring that its users have access to a reliable, secure, and flexible platform for signing and managing their documents.

In conclusion, understanding the differences in how each generation views productivity is essential for businesses to thrive in the digital age. With the help of digital technologies, collaboration and productivity can be enhanced across different age groups. Electronic signatures are a powerful tool that can streamline processes and improve efficiency for all generations. DrySign, a trusted digital signature maker, offers a simple and compliant solution for users to provide their consent on electronic documents with just a single click. It is a tool that can help businesses scale rapidly and unlock the potential of their workspace. So, whether you are a millennial or a zoomer, DrySign can help you streamline your work processes and achieve your organizational goals. Unlock the potential of your workspace with DrySign

Have more questions? Click here for digital signature FAQs.

Source: forbes.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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Over the years, the role of the Human Resources (HR) department has undergone a significant transformation. In addition to recruiting and onboarding new employees, HR professionals now also handle employee benefits and ensure compliance with labor laws and regulations - all critical components to an organization's success.

However, with the rise of digital technologies, the HR landscape is rapidly changing. Incorporating digital tools in HR processes can help manage work more efficiently and effectively. These tools include applicant tracking systems, payroll software, employee engagement applications, and performance management platforms. This blog highlights various digital tools that can streamline your HR processes and help your department stay ahead of the curve.

What are digital HR tools? 

1. Employee information system

   Implementing a centralized employee information system can streamline your human resources department and improve overall efficiency. In addition, this system allows you to consolidate all employee data into a single location, reducing the risk of lost data or manual entry errors. Once uploaded, the system automatically checks and balances the data, providing greater accuracy and reliability. Additionally, routine backups of the system ensure data security and preservation. Investing in an employee information system can help streamline your HR processes and save valuable time and resources.

2. Talent management

   Hiring is expensive! And yet, many organizations recruit new staff frequently for many reasons, such as employee resignations, skills gaps, compensation issues, etc. Using HR software enables human resource departments and hiring managers to set clear goals for what they expect from a candidate to avoid misunderstandings. The software also allows hiring managers to monitor the application and interview process closely in real-time to prevent future disputes.

3. E-signature solution

   With thousands of employees and hundreds of teams working from different locations, organizations find it challenging to manage documentation. A vast majority of business processes rely on paper to complete the documentation, which not only consumes more time but also accounts for higher costs and ineffectiveness. On the other hand, online signature makers streamline document workflows, eliminating redundant and time-consuming tasks and reducing costs associated with paper-based processes. DrySign, one of the leading e-signature solutions, provides 128-bit secure eSignatures that comply with e-signature laws, such as Electronic Signatures in Global and National Commerce (ESIGN) Act and the Uniform Electronic Transactions Act (UETA).

4. Applicant tracking

   Applicant tracking software gives businesses a real-time, 360-degree view of their talent acquisition process. By utilizing a more personalized and multichannel approach, organizations can effectively hire the right candidates at the right time. This software enables companies to create a highly collaborative interview process that is accessible on any device. By streamlining the hiring process, businesses can reduce time-to-hire and improve the overall candidate experience, giving them a competitive advantage in today's job market by improving recruitment efficiency.

5. Employee onboarding

   Employee onboarding is a critical component of the hiring process, as it can be overwhelming for new hires to transition into their new roles. Fortunately, employee onboarding applications provide a smooth and efficient onboarding experience, making the process as seamless as possible. With this tool, employees can access all the necessary resources they need to get started with the job - company policies, training modules, benefits information, and more. In addition, human resource teams can send all necessary forms digitally, enabling new hires to finish the onboarding process effortlessly. In a nutshell, employee onboarding tools help hiring managers provide an elevated onboarding experience to new hires, making them feel empowered and supported from day one.

Also Read: Electronic Signatures: Simplifying Operations for HR Staffing Firms

6. Employee offboarding

   When an employee exits an organization, ensuring a smooth and positive offboarding process is crucial. Employee offboarding tools help companies wrap up loose ends, transition responsibilities, and ensure the departing employee feels valued and appreciated. HR professionals can use offboarding applications to process and record employee terminations, conduct exit interviews, and manage company assets. The finance department can delist departing employees from the payroll database and handle final payments. Additionally, managers can oversee the handover of company assets, ensuring that nothing is lost or overlooked. In summary, employee offboarding tools can help companies maintain positive relationships with departing employees while also streamlining the offboarding process.

7. Timesheet management

   Tracking employee time and attendance is a critical component of workforce management. Accurate and timely timesheet management is essential for various reasons – from ensuring compliance with labor laws to accurately billing clients for services rendered. Yet, despite its importance, timesheet management can be a challenging and time-consuming task.

   Timesheet management software solutions are designed to automate and streamline the process of tracking employee time and attendance, making it easier for organizations to manage their workforce more effectively.

   However, timesheet management applications are not a one-size-fits-all solution. The right application for your organization will depend on various factors, such as the size of your workforce, the industry, and your business needs. Imagine cutting down on countless hours your managers spend going through employee timesheets and verifying working hours – it can be a lifesaver.

8. Time-off management

   Approving employee time off can be cumbersome if your organization still relies on paper-based processes. For instance, you can quickly lose the time off requests that come to your desk on paper. Likewise, losing track is easier if you manage the time-off summary through emails. On the other hand, an automated leave management system enables you to streamline the time off requests on a priority basis, keep track of the process, and approve or decline them on time. Moreover, you can also verify if the employee has enough leave balance to qualify for leave.

9. Training management

   Effective training is a critical component of any organization's success. From instructing new employees to developing the skills of existing staff, training helps ensure employees have the knowledge and tools they need to do their jobs well. However, managing training can be complex and time-consuming, especially for organizations with large workforces or those located at multiple sites. Training management applications automate and streamline the process of managing employee training, making it easier for organizations to ensure that their employees have the skills they need to succeed. These applications keep employees engaged and motivated with dynamic training programs that cater to their unique performance trends. Organizations can also gather constructive feedback from trainees to analyze and measure the effectiveness of their training programs.

10. Attendance management

    Attendance management is a critical component of workforce management. It involves tracking employee attendance, managing leave requests, and ensuring compliance with labor laws and company policies. However, manual attendance management processes are exceptionally time-consuming and prone to errors, particularly for organizations with large workforces. Attendance management applications automate and streamline employee attendance, making it easier for organizations to track employee time and attendance and manage their workforce effectively. These applications help organizations avoid human errors and data loss by easily integrating with biometric devices, payroll systems, and physical time clocks. In addition, attendance management systems allow businesses to configure unique time schedules, workweeks, week-offs, and holiday lists depending on their business requirements.

11. Performance management system

    Performance management is crucial for the growth of any organization. However, updating employee performance reviews can be time-consuming and tedious for HR managers. Neglecting this task can hinder an organization's growth. A performance management system can help streamline the process by creating feedback forms, analyzing employee behavior, monitoring what works best for their teams, and developing new strategies to help employees thrive in the workplace. By leveraging a performance management system, decision-makers can gain insights into what works well and identify areas for improvement, leading to a more productive and engaged workforce.

12. Employee self-service

    Today, employees expect organizations to be transparent in sharing employment data with them. Employee self-service applications offer intuitive, self-service capabilities to organizations, enabling them to organize, engage, and satisfy the digital needs of their global workforce with ease. This self-service tool streamlines various tasks, including training, networking, and organizational charting, making it easier for both employees and employers to manage work-related activities.

Conclusion 

Using digital tools in HR can improve efficiency, accuracy, and employee satisfaction. With the adoption of these tools, HR departments can better manage talent, develop skills, and create a more positive workplace culture. The rapid adoption of digital applications has transformed how HR departments function, making them more efficient and effective in supporting the organization's goals. As we evolve in the digital age, HR departments must stay updated with the latest tools and technologies to remain competitive and successfully manage talent.

E-signatures are one such technology that have been helping several businesses manage their documentation and streamline workflows. DrySign, a market leader in e-signature technology, offers a range of intelligent features and benefits to help businesses save costs and time and streamline document workflows. If you need help finding a perfect solution unique to your business needs, talk to our experts. Start DrySigning 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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eHealth, or electronic health, refers to the use of digital technology to improve healthcare services, such as electronic health records (EHRs), telemedicine, mobile health, and health information exchange. In the U.S., eHealth has been an area of growing interest and investment in recent years.

There have been several initiatives at the federal level to promote the adoption of eHealth in the U.S. For example, the Office of the National Coordinator for Health Information Technology (ONC) was established in 2004 to lead the nation's efforts to implement and use health information technology. The ONC has played a critical role in promoting the adoption of electronic health records by healthcare providers and supporting the development of health information exchange networks that enable the sharing of health data among different healthcare organizations.

In addition to federal initiatives, many states have also implemented their own eHealth initiatives. For example, some states have implemented telemedicine programs to provide remote healthcare services to patients, particularly in rural or underserved areas. Other states have established health information exchange networks to enable healthcare providers to share patient data more efficiently and effectively.

Many private companies are also involved in the eHealth industry in the US, including startups developing innovative technologies and established companies providing EHRs and other digital health solutions.

According to a report by Mordor Intelligence, the global eHealth market size was valued at USD 123.22 billion in 2020 and is expected to reach USD 246.82 billion by 2026, growing at a CAGR of 13.67% during the forecast period.

Overall, eHealth has the potential to improve the quality, safety, and efficiency of healthcare services in the US, and it will likely continue to be an area of focus and investment in the coming years. However, there are also challenges associated with the adoption of eHealth technologies, including concerns around data privacy and security, as well as the need for healthcare providers to adapt their workflows and processes to incorporate new technologies.

What is the objective of digital health? 

Healthcare informatics management (HIM) in the U.S. involves using technology to manage, analyze, and share health information to improve patient care, enhance operational efficiency, and reduce costs. It encompasses a range of activities, including electronic health records (EHR) management, clinical decision support, data analysis, telemedicine, and health information exchange. It can provide value-based care to patients by identifying at-risk populations and reducing the duration of hospital stays. In addition, it can be a valuable arsenal in healthcare organizations to curb unnecessary expenses.

Major factors driving the need for HIM include improving healthcare quality and outcomes, increasing patient safety, and reducing healthcare costs. The federal government has also played a significant role in promoting the adoption of healthcare informatics through initiatives like the Health Information Technology for Economic and Clinical Health (HITECH) Act.

Electronic signatures (eSignatures) play a critical role in HIM by streamlining administrative processes and improving patient care. eSignatures are an important aspect of HIM, enabling healthcare organizations to securely and efficiently capture signatures, authenticate users, and track document workflows. By using e-signatures, hospitals and clinics can reduce turnaround times for signature-dependent documents, speed up revenue cycle management, and enhance the patient experience by allowing them to sign documents electronically from anywhere, at any time.

Healthcare informatics management has become increasingly important in the U.S. healthcare industry as technology is critical in improving patient care and reducing costs. As healthcare organizations continue to invest in technology, healthcare informatics management professionals will play a key role in ensuring these tools' effective and efficient use to achieve organizational goals.

What is the use of digital signatures in healthcare? 

Electronic signatures are prime solutions for centralizing contracts for easier management. Contract management can help organizations in saving resources and identify new opportunities. eSignatures can accelerate the signature process in an agreement or contract. Some contracts that can benefit from the incorporation of an eSignature are:

•  Joint venture contracts
•  Equipment agreements,
•  Physician employment contracts,
•  Care transfer agreements,
•  Compensation and benefits documents,
•  Managed services contracts,
•  Physician recruitment contracts,
•  Medical director contracts,
•  Consent Forms,
•  Medical technology usage agreements.

Also Read: Digital Signatures: Elevating the Healthcare Experience

The Case for Electronic Signatures 

An electronic signature is a legal method of gaining approval on contracts or forms. They are essential in managing a seamless digital document workflow and streamlining various healthcare processes. As the COVID-19 pandemic necessitated shifting to digital tools, eSignatures have become crucial for healthcare organizations.

A case study by the University of Pittsburgh Medical Center (UPMC) found that implementing eSignatures in their surgical consent process reduced the average time for completing and filing consent forms by 75%, from 4 days to 1 day.

With the need for creating an integrated healthcare system to provide a seamless patient experience to strengthen the security of enterprises, eSignatures are a valuable tool. Here are its benefits:

Benefits of eSignatures 

Electronic signatures are a much-needed tool in the healthcare industry. They are used to sign essential forms in the sector, such as prescription forms, diagnostic results, etc. Here are its benefits:

•  Streamlined Documentation - E-signatures eliminate the need for physical signatures on various forms and documents related to healthcare, such as prescription orders, patient consent forms, and others. This significantly reduces paperwork and administrative costs. In addition, it speeds up the accuracy of information and documentation. Patients will benefit from this development and forego the need to carry past medical reports physically.

•  Faster communication and decision making - E-signatures facilitate speedier communication and decision-making among healthcare providers, insurers, and patients. Electronic signatures on medical orders can enable healthcare providers to quickly prescribe medication or authorize treatment without delay, improving patient outcomes and reducing costs associated with more extended hospital stays.

•  Improved security and compliance - E-signatures provide higher security and compliance than physical signatures, as they are validated and authenticated using security measures such as encryption, passwords, and biometric authentication. This protects patient data and ensures compliance with various regulatory requirements, such as the U.S. ESIGN Act and UETA.

•  Increased convenience and accessibility - E-signatures can make healthcare services convenient and accessible for patients, especially those who live in remote or underserved areas. Patients can sign forms and documents electronically from their homes or mobile devices. This reduces the need for physical visits and allows patients and healthcare providers to be resourceful.

How is DrySign Effective? 

DrySign is a renowned electronic signature solution allowing users to create digital signatures. It assists its users in providing their consent on electronic documents through a single click. Furthermore, it complies with international eSignature laws and regulations to offer convenience and flexibility to its users.

Conclusion 

The healthcare system is undergoing a digital overhaul to make it convenient for doctors and patients. An electronic signature is crucial to simplify document workflow and improve patient outcomes. Healthcare providers can rely on the solution to improve the efficiency of current processes.

Continue to provide value-based care with DrySign.

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 COVID-19 pandemic was a big enabler for organizations looking to take the digital route. This is supported by a survey by LogicMonitor, a cloud-based infrastructure monitoring platform, stating that 87% of companies intend to migrate to the cloud. Increasing digitalization has created the need for flexibility, security, and scalability.

Companies are looking for technologies that optimize data and help them expand their operations and revenue. Unfortunately, traditional hosting and data center services run on legacy systems and refuse to keep themselves updated with customers' current needs. The solution is cloud computing. Organizations can utilize it to continue providing services to customers seamlessly.

The cloud is a metaphor for a global network of remote servers that operates as a single ecosystem.

What is Cloud Computing?

Cloud computing helps organizations enhance their computing power by purchasing, installing, and maintaining their servers. It involves the use of remote servers, networks, and software applications to store, manage, and process data over the internet. Organizations can access computing resources on demand without the need to own and maintain their physical servers.

The cloud computing model has helped organizations scale rapidly and create additional value. It eliminates the need to depend on legacy systems to host digital applications. It also makes your data ubiquitous, helping you access it anytime, anywhere.

Organizations reliant on data can use cloud computing more effectively to provide a valuable experience to customers. In addition, it can improve business processes while making data accessible for all teams.

Cloud spending has increased by 37% across all organizations globally

Benefits of the Cloud

Organizations are leveraging the cloud due to its far-reaching benefits. Since employees work remotely, organizations are considering implementing the cloud to gain efficiency early on. Here are its advantages:

• Instant Accessibility to Data – Clients and employees can access data instantly on any device, regardless of location. They can witness any updates or modifications immediately.

• Complete Virtualization – Companies can leave behind hardware and software to go completely virtual. This is ideal for companies looking to control their technological costs.

• Centralized Security – Organizations can be assured of the security of their data on the cloud owing to data encryption and two-factor authentication. It lowers the risk of data loss and reduces the pressure on teams or individuals to back up their data manually.

• Huge Performance Boost –Cloud computing improves the benefits of input and output operations. It reduces downtime while updating software patches or fixing security bugs.

• Business Resilience – Organizations can build resilience and protect themselves against unforeseen circumstances and disasters. Cloud assists them in storing data and gleaning valuable insights for faster decision-making.

73% organizations consider cloud optimization as their top initiative

How the Cloud Enhances Customer Experience

The cloud can be a great leveler of offering unique experiences. As data becomes central to driving experiences, enterprises can leverage the cloud to eliminate data silos and enhance customer experience.

A business can save data on servers, applications, and databases. Without the ability to share this data across business lines, it becomes impossible to innovate and deliver new products or services.

A cloud service strategy enables an organization to migrate to the cloud. It assists them in creating a simple architecture and holistic data strategy. As the cloud becomes a repository for storing and collecting new data, it leads to faster deployments of products.

Another prime advantage of the cloud is its ease of use and automation. Clients can shift customer data to the client to become their central storage point. Backup is the primary purpose of the cloud, with the data on the cloud able to be duplicated across multiple storage locations.

The cloud brings transparency to the customer journey. Companies can use this data to provide personalized experiences to customers. In addition, the cloud is highly secure for managing data and customer interactions. It makes it easy to identify trends and make better decisions for improving the customer journey.

How Do Electronic Signatures Fit in?

Electronic signatures help in managing workflows and keeping processes operational. Operational functions can become monotonous and repetitive after a while. Companies require technologies that help them automate processes and ensure employees focus on core tasks. Cloud computing provides a platform for storing and accessing digital documents and electronic signatures from any location with internet access. This means that users can sign documents digitally without having to be physically present or exchange paper copies. Cloud-based electronic signature services like DrySign allow users to sign documents from their computers, tablets, or smartphones.

Signing documents electronically signals the shift of companies looking to digitize their data and take advantage of its benefits. Electronic signatures or eSignatures provide a secure method to sign documents and transactions. It also changes how companies think of collaboration and assigning tasks in the future. Overall, the combination of electronic signatures and cloud computing can improve the efficiency, accessibility, security, and compliance of document signing processes for businesses and individuals alike.

Also Read: How Digital Signatures Improve Efficiency in the IT Sector

How is DrySign Effective?

DrySign is a secure and efficient electronic signature solution that offers a centralized location for managing and signing digital documents. DrySign allows users to save documents securely on the cloud and prevents unauthorized users from access. Significant benefits of DrySign that set it apart are:

• Document Security and Verification – Users of DrySign can verify the identities of recipients before giving them access to sensitive documents. Companies use two-factor authentication to strengthen the user's account defenses.

• Compliance with Latest Standards – DrySign adheres to electronic signature laws and their latest amendments. It is legally accepted and enforceable by law.

• High Efficiency – Users can utilize eSignatures to procure signatures on essential documents quickly, providing clients with a seamless signing experience.

• Simplify Document Management – Documents can be organized, with new formats introduced to accelerate execution. Electronic signatures reduce the potential for human error and enhance document management.

• Increased Productivity – Electronic signatures can increase employees' productivity while eliminating repetitive tasks.

• Lowers Expenses – The costs of physical storage are reduced, enabling higher savings for companies.

• Trust – DrySign helps create a feeling of trust and confidence between users and their clients, considering the issues of data integrity and security in the current workspace.

Conclusion

The cloud is an accelerator of digital transformation and opens up new opportunities. It enables organizations across industries to centralize their operations and deliver services seamlessly. Leverage the power of the cloud and eSignatures to share data among alliances and unlock new business opportunities with DrySign.

Source: financesonline.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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Coordination in the face of sudden challenges such as lockdowns or social distancing can make or break a team.

The word “collaboration” has become a bit of a corporate buzzword, but that doesn’t place it in the bucket of empty clichés. On the contrary, collaboration in the workplace helps companies achieve targets, reach goals, and execute projects successfully. It’s really that simple.

Collaboration is when a group of people come together and contribute their expertise to benefit a shared objective, project, or mission, for example, a photographer working with a designer to create a digital cover or the technology department regularly meeting with the marketing team to accomplish quarterly goals. But it’s also a learned skill. How well you collaborate with others will significantly impact the outcome of a group project.

The COVID-19 pandemic forced teams to work together while being apart. During these testing times, cooperation was challenging, unlike meet-ups at the water cooler or official conference meetings where informal conversation can create bonds. As a result, many organizations suffered the consequences for months before they decided to rely on digital tools to improve their collaboration on projects.

About 75% of employees in the U.S. rate teamwork and collaboration as very important. – Queens University of Charlotte

Why is Team Collaboration Important?

Team collaboration helps teams achieve common goals. According to a Stanford study, the perception of working collectively on a task can improve the performance of employees. In addition, collaboration heightens creativity through frequent brainstorming and the creation of ideas. Groups with diverse disciplines, skills, and backgrounds offer the best perspectives. Finally, it helps in formulating reasonable solutions that can achieve good results.

Since this was not possible physically during lockdowns, most teams switched to digital tools to meet virtually to bond and keep up collaboration. In addition, companies leveraged digital tools to keep decision-makers or department heads on the same page.

Collaboration is stimulating, revitalizing, motivating, and productive for teams. So what happens when it's done virtually?

Challenges of Team Collaboration

The challenges of virtual teams increase as they increase in size, and people tend to focus on their personal rather than organizational goals. Here are the challenges virtual teams face:

• Differences in Communication – Various team members have varying communication styles, some preferring a text message over an email. Teams should manage communication in a manner that fosters collaboration.

• Lack of Structure – A lack of structure within teams leads to internal chaos. A well-defined workflow is pivotal and can drive processes. Companies must review processes and procedures to make collaboration as effective as possible.

• Poor Governance – A lack of governance creates low morale among team members. Members should be given clear direction to help them understand their roles in the team.

• Slow Response Times – Members should understand that their flexible work schedule comes with structure. Delays and setbacks are inevitable if team members do not work with this understanding.

• Distracting Environments – Distracting environments are a byproduct of working remotely. Virtual teams struggle with distractions, each reducing the efficiency rate of a team member. The setup of standard guidelines for the whole team to follow makes it straightforward for work hours to be followed by team members as in traditional workspaces.

• Lack of Office Culture – Creating an office culture while working virtually will help teams bond. Having company and department instant message groups can be helpful.

• Scheduling Meetings – Meetings play a critical role in bringing teams together. Since many team members may work on different time schedules, a virtual meeting at a convenient time can allow the team to plan their day or week.

The Need for Collaboration Tools 

Corporate teams have grown considerably in size over the years. New diverse talent groups have allowed companies to tap into vast knowledge and expertise. As complexities increase, so does the need for tools to share resources and meet deadlines. Companies have to take adequate measures to create a compatible culture.

The future will witness collaboration tools helping teams with insightful data to improve their patterns – tools like online video conferencing and instant messaging platforms, online whiteboards, file-sharing tools, etc. One such crucial tool that has gained immense popularity post-pandemic is electronic signature platforms. Electronic signatures help in managing workflows and keeping processes operational. With transactions becoming electronic, eSignatures will play their role in increasing efficiency and productivity in workspaces. Their features can help employees work efficiently and simplify the signing process.

What are Electronic Signatures?

Electronic signatures, or eSignatures, are a secure way to sign, share, and store documents online. eSignature platforms encourage transparency and cooperation in an era of remote working. Team members or stakeholders critical to signings and document approvals can collaborate in a safe space to better cooperate and accelerate tedious document signing processes. In addition, it can overcome challenges commonly seen in legacy organizations.

Also Read: How Digital Signatures Make Your Hybrid Workforce Efficient

What is DrySign? And how is it effective?

DrySign is an efficient, user-friendly, and cost-effective electronic signature solution that provides a single point for managing, storing, and signing digital documents. Here are some benefits of DrySign that encourage collaboration:

• Verifies User Identities – DrySign uses two-factor authentication to identify signatories. It helps detect actors with harmful intent and provides more robust security against users trying to commit signature fraud

• Compliance with Latest Standards – DrySign follows the guidelines in all electronic signature laws and their latest amendments. As a result, it is an industry-standard solution for enforcing eSignatures on contracts, forms, and other documents.

• Runs Business Efficiently – Team members can send, track, and sign documents on the go in case of a requirement of a majority consensus on projects. The improved user experience can help users approve with a single click.

• Reviews Documents with Ease – Stakeholders can review documents or papers and sign off on them at the right time. Signatories or document owners can track document modifications with timestamps and real-time mail trails.

• Seamless Transactions on the Cloud – DrySign users can save documents on the cloud and save time, effort, and costs. Teams can fetch critical documents from the cloud at any time and use them in collaboration for new projects.

• Automates Workflows – DrySign can easily create and send forms using easy-to-use templates.

• Protection against Document Tampering – DrySign assures the authenticity and integrity of documents. All changes are visible in a transparent mail trail. In addition, the e-signature is legally binding and secures the information within documents.

• Reminders and Notifications – The solution is in-built with a reminder feature capable of sending timely reminders to all team members. It also displays notifications to the DrySign user, informing them of all those who have signed.

• Lowers Expenses – DrySign alleviates the cost of printing documents and sending them to recipients. Once all stakeholders agree to eSignatures, there are no hassles, and the job is completed easily.

Harness the power of virtual and digital collaboration with DrySign!

Source: uctoday.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 a world that's increasingly moving towards digitalization, electronic signatures (e-signatures) have become an essential tool for businesses and individuals alike. They offer a convenient and secure way to sign documents without the need for physical paperwork or face-to-face meetings. As the demand for e-signatures continues to grow, it's essential to keep up with the requirements of users as well as the latest trends and upgrades to stay relevant and competitive. Failure to do so could mean falling behind the competition, losing customers, and missing out on potential opportunities. DrySign, our online digital signature solution, has launched a fresh, new version called DrySign 2.0 with a host of new features and improvements!

One of the platform's first and most noticeable changes is its cool new design and aesthetic. DrySign 2.0 brings forth a sleek, modern look to impress users. The color scheme has been updated with more calming tones, making it more visually appealing and engaging. The new design also features more white space, giving the interface a cleaner and minimalist feel. Another upgrade is the new rounded corner UI added to the platform's user-friendly design. The rounded corner UI in DrySign 2.0 is an intentional design approach that creates a softer, more approachable aesthetic. This design approach helps reduce visual clutter and creates a sense of flow and continuity throughout the platform.

In addition, the intuitive interface is simplified and designed to guide users through the signing process, making it easy to understand and use, even for those new to e-signatures. A well-designed user interface (UI) can make all the difference when it comes to user experience and overall satisfaction. DrySign 2.0's intuitive UI is designed with the user's needs and expectations in mind and is organized in a logical and predictable way. It includes clear labeling, simple navigation, visual cues, and task and goal-based navigation. Clear labeling ensures that users can quickly identify what they need to do, while simple navigation makes it easy to find their way around the platform. Visual cues, such as icons and color coding, help guide users through the signing process and make it more visually appealing. The task and goal-based navigation also focuses on the user's end goals, making it easier for them to complete tasks efficiently and effectively. All these features work together to create an intuitive UI that helps users sign documents with ease and confidence.

In addition to the visual upgrades, DrySign 2.0 now complies with section 508 of the Rehabilitation Act. This means that the platform is accessible to differently-abled users, including those who use assistive technologies like screen readers or magnifiers. Furthermore, the platform meets the scoping and technical requirements for ICT under the Revised Section 508 Standards, making it compliant with federal regulations. By complying with Section 508, DrySign 2.0 ensures all users can access its features regardless of their abilities, providing a more inclusive user experience. In addition, existing compliance with ESIGN and UETA makes DrySign one of today's most coveted online signature generators.

Another significant improvement in DrySign 2.0 is the addition of accessible e-signatures. This feature allows users to sign documents using an electronic signature that is accessible to differently-abled people. For example, users can choose to sign with a signature stamp, a digital signature pad, or even by typing their name in a customized font. This feature ensures that all users can sign documents with ease and confidence.

Finally, the Seal Feature is one of the most exciting new features of DrySign 2.0. This feature allows businesses to add a company seal (in .png or .jpeg) to their signed documents, giving them an added level of authenticity and professionalism. In addition, the seal can be customized with the company's logo, name, and other relevant information and is a great way to help build trust with customers and partners.

The introduction of the new UI in DrySign 2.0 has made the platform more than just functional; it has transformed it into a tool that is both useful and usable. By incorporating user-centered design principles, DrySign 2.0 has become a desirable platform that users want to engage with. In addition, implementing compliance with section 508 of the Rehabilitation Act has made the platform accessible to all users. The rounded corner UI and company seal feature also adds an extra level of credibility to the platform, helping to build trust and establish DrySign 2.0 as a reliable and professional e-signature solution. By focusing on creating a UI that is Useful, Usable, Desirable, Credible, and Accessible, DrySign 2.0 has become an online signature generator that meets the needs and exceeds the expectations of its users while also staying ahead of the competition.

Whether you’re a small business owner, a legal professional, or just someone who needs to sign documents on a regular basis, DrySign 2.0 is definitely worth checking out!

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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Digital signature technology has been around since the start of the new millennium. In 2000, the United States passed the Electronic Signatures in Global and National Commerce Act (E-SIGN). The Act ensured that e-signatures hold the same legal status as wet ink signatures and are acceptable for executing any documentation in U.S. states and territories.

The global e-signature market is anticipated to reach $61.91 billion by 2030.

Digital signatures have become essential to workflow improvement. For instance, during the pandemic, several businesses took the help of digital signatures to engage with their customers efficiently and effortlessly.

With the emergence of COVID-19, eSignature business users have increased by 50%, while individuals using eSignatures have grown by 13%.
Also, 69% of eSignature users are more likely to continue to e-sign over in-person signing.

People worldwide find it a very convenient, easy-to-use, and cost-efficient solution for businesses and individuals. This technology eliminates the need for an in-person visit, saving countless money spent on traveling, fuel, scanning documents, printing, and physical wet signing. On the other hand, irrespective of the business type or size, eSignatures provide a wide array of benefits along with the convenience of online signing.

Dive into the below session to know which industries can and must incorporate electronic signature technology into their workflows and operations to see a tremendous impact.

• Architecture, Construction & Engineering:

  The architecture, construction, and engineering industries frequently deal with original ideas that need approvals from higher authorities. Building or floor plans, engineering drawings, business proposals, material lists, estimation reports, etc., are transferred from one department to another in order to meet strict deadlines and safeguard intellectual property rights. Any minor error or delay in document processing could result in unnecessary extra expenses or legal actions.

  Communicating with dozens of engineers, zoning regulators, contractors, and construction team members becomes overwhelming. In addition, providing hundreds of pages of contracts, agreements, or other documents, getting approvals, obtaining signed documents, and maintaining the document records worsen the situation.

  E-Signature solutions are a lifesaver for organizations dealing with thousands of documents on a daily basis. Online signature apps are essential for confirming the authenticity and validity of the relevant documents. Moreover, digital signing makes it easier for employees to track documents like purchase orders, work contracts, estimation reports, and subcontractor agreements whenever required. Cloud storage saves physical space and makes documents easily accessible to authorized persons. Here are some documents that can be e-signed:

  • Invoices
  • Purchase orders
  • Worker contracts
  • Property agreements
  • Estimation reports
  • Subcontractor agreements
  • Building and floor plans

• Accounting and Tax:

  Accounting and Tax industries deal with sensitive and confidential information that needs higher security and authenticity. Therefore, any minor error or misplaced documents can lead to significant penalties.

  With digital signatures, you can sign any contract within minutes, securely. While signing any confidentiality agreement, assisting customers in forming an LLC, or asset acquisition agreement, digital signatures offer a legitimate way to receive the client's approval. A few of the documents in accounting and tax firms that can be e-signed are:

  • Employee agreements
  • Separate contracting agreements
  • Attestation letters
  • Tax documents
  • Audit reports

• Human Resource:

  Digital signature services are the most crucial in the human resource industry. The human resource industry deals with the primary asset of any organization - the employees. Organizational productivity and growth start with only its employees, which makes it equally crucial for organizations to take care of their needs. This requires HRs to create employee appreciation and satisfaction programs and policies. Consequently, the human resource industry deals with larger sets of confidential data that cannot be shared with unauthorized persons. Right from hiring documents and offer letters to employee information sheets, insurance documents, healthcare reports, benefits, compensation, and exit forms, there are countless documents unique to each employee that needs to be handled by HR.

  E-signature technology is one such solution that can help reduce the administrative burden on human resource professionals, automating document workflows. Electronic signatures are end-to-end encrypted, ensuring integrated security in your documentation and reducing data loss or theft risks. Moreover, it makes it easier to manage larger data sets, eliminating the need for additional resources and physical storage. Here are examples of HR documents that can be e-signed:

  • Hiring documents
  • Employee onboarding forms
  • Non-disclosure agreements
  • Insurance papers
  • Exit forms
  • Salary slips
  • Offer letters

• Healthcare:

  The focus on the healthcare sector has been renewed in the last few years. Many new technologies are simplifying processes to take the excessive pressure off medical professionals. One such technology is the electronic signature, automating document workflows to reduce the administrative burden. Specific healthcare organizations have predefined rules and regulations. They are legally obligated to employ digital signatures to exhibit their authenticity to administrative bodies. With digital signatures, you can avoid unauthorized access to confidential documents, lost files, data theft, document misplacement, or data alterations. Physicians can e-sign documents such as medical supplies forms, invoice copies, prescriptions, etc. A few of the healthcare documents that can be e-signed are:

  • Prescriptions
  • Medical supplies forms
  • Invoices
  • Insurance forms
  • Patient intake consent forms
  • Staff hiring and onboarding

Also Read: Prevent Signature Forgery with DrySign Digital Signatures

• Finance:

  Every organization, irrespective of size, has an integral part: its finance department. With hundreds of employees and clients, it becomes overwhelming for finance professionals to manage the documentation. In addition, any error or delay in their processes can severely harm the organization. On top of that, receiving a physical signature adds up to the total cost.

  On the other hand, an electronic signature solution helps expedite reimbursement paperwork, loan requests, bank account opening requests, investment application processes, audit reports, and many more. Moreover, it integrates end-to-end security and legitimacy in your documentation with a smart option to track the document status with real-time mail trails. DrySign, one of the leading eSignature solutions, provides a comprehensive list of features to streamline your operations. With DrySign, you can invite more than one person to sign documents online, search for older documents easily, set reminders to sign documents, and receive notifications, helping your paperwork stay up-to-date. Here are a few of the finance forms that you can e-sign:

  • Application for loans
  • Sincere estimates
  • Mortgage assistance
  • Bank account opening
  • Audit reports
  • eConsent
  • Loan estimate/waiver
  • Broker contracts
  • Underwriting documents
  • Address/beneficiary changes
  • Financial statements
  • Transaction disputes
  • Terms of use forms
  • Tax forms

• Real Estate:

  We are in the middle of the 'Prop-Tech revolution.' Prop-Tech (property technology) is a broad term introducing new technologies to the real estate industry. Unfortunately, despite all the innovations, the real estate industry has been relatively slow to embrace the Prop-Tech revolution.

  Many real estate documents, such as purchase contracts, need to be signed by both the clients and the real estate brokers. In order to make the deals faster and avoid losing out to technologically competent rivals, real estate companies need to adopt more intelligent solutions such as eSignatures. It streamlines your document workflows eliminating all the bottlenecks. With e-signatures, your customers can sign documents from the convenience of their homes, and you can save time and money spent on traveling to acquire signatures. The saved time and money can be diverted toward acquiring new clients. Here are a few real estate documents that can be e-signed:

  • Purchase agreements
  • Payment agreements
  • Certificate of occupancy
  • Home insurance papers
  • Rent agreements
  • Mortgage forms
  • Purchase-sale agreements
  • Lease agreements

• Legal:

  Lawyers often handle countless contracts and legal documents on behalf of their clients. Clients occasionally find themselves making several visits to the lawyer's office to sign and revise agreements and contracts endlessly. Clients can quickly sign contracts and legal documents with the help of digital signatures from the comfort of their homes. It eventually helps prioritize crucial engagements, eliminating the time spent on redundant tasks. Moreover, you can avoid delays and provide your clients with a hassle-free experience. A few of the legal documents that can be e-signed are:

  • Notices
  • Settlements
  • Medical releases
  • Incident descriptions
  • Pleadings
  • Shareholder agreements
  • Real property
  • Disclosures
  • Closings
  • NDAs
  • Policy management
  • Audit and inventory signoffs
  • Purchase orders
  • Statements of work
  • Master service agreements
  • Supplier compliance

• Government and Insurance:

  The government sector already has a low reputation concerning faster documentation, and so does insurance. People feel overwhelmed following up with government employees to get document approvals or signatures. On the other hand, going through insurance papers and the procedure to claim is exhausting. The application of eSignatures helps organizations provide the fastest documentation to clients with integrated security and legitimacy. Moreover, insurance companies need signatures from multiple entities to take their consent for renewing or processing the coverage, which can be done within minutes using eSignatures.

  • Applications
  • Accident reports
  • Change of address
  • Coverage selection forms
  • Medical release authorizations
  • Renewals and cancellations
  • Disclosures
  • Total loss forms
  • Bill presentment

The Bottom Line

Digital transformation is crucial for organizations - even the most traditional ones. This transformation will help your organization improve operational processes and grow your potential customer base. Electronic signature technology has been helping companies streamline their operations for decades now. It makes the process smooth and hassle-free and comes with many benefits. DrySign, one of the leading e-signature solutions, provides a comprehensive list of features and benefits to help your organization thrive in the modern business world. You can define your business requirements and get a solution unique to your business needs. 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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