- November 30, 2021
- Stanley Chow, Sr Product Marketing Manager
For nearly 2 years, the Covid-19 pandemic has caused massive disruptions worldwide and impacted just about every industry. IT decision makers in regulated industries such financial services have had the daunting task of reviewing their technology stack and assess how to navigate their company around this restrictive new environment. One technology that provided a much-needed boost in business continuity is eSignatures. The technology allowed companies to complete transactions with strict regard for current health measures. But what companies must understand is that eSignature technology is much more than a workaround for the current situation. Rather, it can unlock far-reaching benefits long after the current pandemic is over. While eSignatures keep business moving, here are 3 reasons why it can have business thriving.
- It Improves the Customer Experience
Today, customers are ultra-connected and have more buying power than decades past. Because of this, companies are constantly vying for the business of customers, touting better products, services, and experience. One major element in a customer’s buying experience these days is the ability to complete a process end to end, without disruption. Whether it’s online food delivery or e-commerce, transactions have become increasingly frictionless, allowing customers to get it all done on one device at home. The bar has been raised, and this type of convenience is expected even for complex transactions like account applications. For instance, having customers start an application online only to require them to mail in a signed form at the end will no doubt cause frustration and possibly abandonment when faster options are available. Deploying eSignatures, which allows customers to sign and complete service transactions right within their device, raises the customer experience and preserves that seamless experience they demand of you.
- It Improves Employee Productivity
eSignatures don’t just make life easier for customers, but also for employees responsible for facilitating them. You hired members on your staff to bring true value to your organization with critical thinking skills and effective client communication. The last thing you want is for your employees to spend their hours creating agreements and routing them to customers or vendors. Manual tasks like these are time-consuming and prone to errors (which takes up even more time). They also stall your employees’ productivity to fulfill more complex aspects of their jobs. Deploying eSign technology in your department’s workflows effectively frees your staff from spending their valuable time managing these tasks. eSignatures provide document templates and automatic routing between parties so that your staff can focus their attention on tasks that bring business to your company.
- It’s helpful for the Environments
The average office worker already uses 10,000 sheets of paper per year, a figure which eSignatures can greatly reduce. The point at which a digital process converts to paper is when that document needs to be signed and routed to another party. With each transaction a company makes using paper, they’re unfortunately enlarging their carbon footprint. On the surface, this may not impact your company, but a potential fallout to this is that it can damage your company’s perception amongst a younger demographic of customers. Millennials and Gen Z, who are quickly becoming a major cohort of customers, tend to be more conscious of environmental issues, even going so far as to take their business to more eco-friendly companies. By adopting eSignatures in your business processes, your company can proudly announce that it’s taking the right initiatives to reduce waste and prepare for a sustainable future – and your customers will take notice.
On a surface level, eSignatures make an effective option because it transcends disparate time zones and locations. With just a few clicks, eSignatures turn agreements from arduous tasks to mere clockwork. But beyond time- and cost-saving efforts, the goal of a company is to satisfy its consumer base and maximize the potential of its employees, all in the name of driving and sustaining business growth. Adopting eSignatures helps in achieving these goals, while ensuring that your company remains environmentally friendly. If you’re looking to give your company a boost with eSignatures, you can get started by starting a free trial of Foxit eSign, a legally binding eSignature solution.