Improve your business bottom line — Go digital with DrySign
The digital universe has a 40 times greater number of bytes than the number of stars.
The market urgency of competition around the globe has been a significant catalyst in making digital transformation a priority in organizations — both large and small, in almost every industry. In the last few years, the need for cloud-based solutions has even created a bit of a frenzy amid new products and emerging technologies taking up the market.
54% of business owners say the number one challenge in achieving digital transformation goals is to intertwine all these new technologies and project them into their business.
As organizations look for ways to keep up with the pace of emerging technologies, customer and stakeholder demands, and the exponential increase in the existing data, going digital has become critical. The concept of digital transformation has resulted in success for some. However, there are a lot of businesses where it is still bouncing around meeting rooms and boardroom tables. In a nutshell, although digital transformation has been visualized for ages now, due to certain misconceptions and false beliefs, efforts often fail. Employing digital solutions in the right way can maximize the ROI, impact customer and employee experiences, and improve the bottom line for businesses. Digital signatures have been around for a while now, and the benefits are undeniable. Employing the right solution for your specific business requirements will help streamline the processes and simplify a lot of bottlenecks in your workflow. Throwing unnecessary money in the backend isn’t going to help your digital transformation journey. Instead, invest in solutions that cut down on redundant costs and efforts and streamline efficient and agile processes. Here are some ways electronic signatures help businesses.
● Save time
Several teams, thousands of employees, stakeholders, vendors, and customers — businesses have to deal with each of these units efficiently in order to benefit the organization. Dozens of papers, documents, and data are available and produced daily. Organizations spend billions on managing and maintaining this unprecedented volume of data. Manual documentation takes hours away from the productive time, which can instead be invested in more substantial tasks. As small to medium enterprises operate on stringent budgets, they always look for time-efficient and cost-effective solutions to save time and improve productivity.
The most apparent advantage of integrating an e-signature solution is accelerating the turnaround time or TAT — the solution eliminates the need for your workforce to prepare drafts, print, scan, and send documents for approvals and signatures. You won’t need to wait for a client or a stakeholder to sign a contract and send it back. E-signature platforms allow you to process and sign documents within minutes and make it easy to manage and maintain electronic documents. Solutions like DrySign can also help you create templates of frequently used documents that can shave off hours from your workflows.
● Add more flexibility to your team
As the world cruises into a digital era, businesses rely more on technologies to get their work done. For instance, several employees work on a single project, while some of them may be situated at other office locations. Getting all those employees on the same page requires consistent communication and coordination. This is why reliance on mobile phones, laptops, and tablets is becoming commonplace in the modern business world. Now, many people may face difficulty sharing important documents, signing confidential contracts or agreements, and managing the documentation history using old-school techniques. These redundant tasks not only take more time but can cost you millions. And the scenario asks for a more reliable and time-efficient platform to remove such obstacles and get the documentation done without hassle.
Electronic signature platforms help boost team efficiency and productivity. You can access important documents from anywhere, anytime, and from any device. You can effortlessly store the documents electronically for future reference. E-signature solutions like Drysign even allow you to invite multiple signatories to sign a document with their Group Sign feature. Get approvals from stakeholders in minutes to augment the sales processes and process documents from the convenience of your home. With so much flexibility on offer, you no longer are physically tied to office premises and boardrooms to complete paperwork.
Also Read: https://drysign.exelatech.uk/blog/8-ways-e-signatures-can-transform-your-business
● Create custom workflows
Everything that goes beyond expectations has a planned roadmap ready beforehand. Businesses nowadays have several exigent priorities along with the usual work, which needs you to tweak the workflows to satisfy these additional, always essential, requirements. This can result in fragmented processes with no overall visibility of the company’s workflow documentation processes. Using an e-signature platform helps create seamless workflows.
Electronic signatures help create custom workflows, including naming, custom instructions, permissions to use it, customized agreements information to be displayed, signing orders by adding the recipients, and input fields as per the specified directions. This can be done within minutes, eliminating human error and adding an extra layer of security. You can create various templates for contracts and reuse them accordingly. The saved time will lead the teams to focus more on closing deals faster and prioritizing tasks. With DrySign, you can even send Custom Notifications and Reminders while collecting signatures to ensure you are on track.
● Enhance security
With the increase in online transactions, the need for high-end security has skyrocketed over the past few years. Businesses deal with confidential information, including customer data, business information, official documents, agreements, contracts, etc. Any sort of exploitation is not affordable while handling such massive datasets — e-signatures act as a savior in this condition.
With an electronic signature solution, you can add security to your documents, manage the signatories, avoid unauthorized access, and eradicate loss or theft of data. DrySign is 128-bit secured and compliant with global e-signatures laws. DrySign also uses multi-factor authentication, audit trails, and time-stamps to give you a 360-degree view of your entire document flow — from start to end.
● Reduce operational costs
The traditional paper-based processes cost millions to businesses worldwide. The average paper cost may seem minimal, but the hidden costs associated with it can put a real strain on your hard-earned business. Printers, scanners, toners, ink, pens, storage space, shipping, and several other things add-on to your budget and increase your carbon footprint.
Incorporating digital signatures in your processes can eliminate several costs associated with paper-based manual work. It not only streamlines the workflows but also impacts the bottom line with reduced time, costs, and efforts.
E-signature use cases
Let’s look at the top five industries that can significantly benefit from putting digital signatures into effect:
● Legal
From litigators to transactional lawyers, attorneys have an enormous dependency on filing paperwork and getting signatures. Implementing the e-signature functionality can help relieve law firms from the overwhelming paper burden by digitizing the signature and document management process. Also, the elevated level of security that accompanies an electronic signature makes it easier for lawyers to have records and evidence available at all times.
● Insurance
The insurance sector is another such industry with a high dependency on paperwork. With insurance firms relying on revenue and efficiency, convenience and ease of business is something that both consumers and insurance agents demand. Electronic signatures automate the process of document signing and management, enabling insurance agencies to provide a better customer experience.
● Banking & Financial
One of the most significant advantages of an e-signature platform is that it makes it virtually impossible for documents to be forged or tampered with. Electronic signatures simplify document processes and reduce error rates, making it easier for banks and financial institutions to focus on building better customer relations. DrySign complies with global e-signature laws ensuring that your workflows and confidential documents are protected. In addition, the platform provides 128-bit protected signatures to foolproof your financial transactions.
● Real Estate
Even today, the real estate industry relies heavily on manual paperwork to close deals and help their clients apply for loans, etc. Several documentation and legality concerns impede this process. Electronic signatures eliminate the need for agents to travel from one place to another to get clients to sign documents. By digitizing document processes, real estate offices can shave off days from their sales processes and become faster and more efficient. Moreover, the use of electronic signatures shows that the signer gave his consent to sign, and the signing history can be used as proof of transaction in a court of law.
● Retail
The retail sector, being highly competitive, has a greater dependency on customer satisfaction to drive revenue. By eliminating paper processes, retailers eliminate inefficiencies while dealing with vendors and simultaneously reduce the cumbersome process of managing customer paperwork, ultimately providing better customer service. In addition, it helps maintain and manage document history for future reference. With DrySign, you can set custom reminders, manage history, invite multiple signatories, and sign yourself without hassle.
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Every organization trying to modernize its operations goes through a broad term called digital transformation. With the increase in digital technologies, it has become simply inefficient and a complete waste of time to live without modern and high-tech platforms. If you are looking to incorporate digital trends in your business workflows, electronic signatures are one technology that can help you start your digital journey with the least risk. They help save costs in every business process, reduce time and effort on redundant tasks, and improve employee productivity and overall efficiency. What’s most helpful is how easy it is to use. With this secret to enhancing your business bottom line, you can definitely thrive in the modern business world. Speak to us today to know more about how DrySign can help your business. Start DrySigning!
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.
