- February 14, 2023
- Symphony Ragan, Content Specialist
Electronic signatures have become one of the most important tools for businesses in recent years. They provide a fast, secure, and cost-efficient way to get legal documents signed quickly. eSignatures make it possible to conduct business transactions without having to print and scan paper documents. This not only saves time but also reduces costs and improves customer experience. In this article, we will look at 6 ways eSignatures improve ROI (Return on Investment) for businesses in practically every industry.
- Reduced Time Spent on Document Processing: With eSignatures, document processing times can be reduced from days or weeks to just minutes or hours. This is especially beneficial for businesses that require employees to sign off on documents regularly, such as contracts, invoices, and orders. By generating PDF documents and eliminating the need to print and scan paper documents, businesses can save time and increase efficiency in their operations.
- Improved Customer Experience: By switching to an electronic signature process, businesses can provide customers with a more convenient and faster way of signing documents. This improved customer experience leads to increased customer satisfaction which in turn leads to increased revenue for the business.
- Cost Savings: By using eSignature solutions and digital PDF documents instead of traditional paper-based processes, businesses can save money on printing costs as well as storage costs. Additionally, since electronic signatures are legally binding in most countries, businesses can often bypass costly lawyer fees for notarizing papers or verifying signatures on contracts and agreements, which further cuts down their expenses significantly.
- Increased Security: Traditional paper-based processes leave companies vulnerable to data breaches caused by physical theft of documents or malicious actors tampering with the paperwork before it reaches its destination safely. On the other hand, electronically signed PDF documents are securely stored in the cloud where they are protected from unauthorized access or manipulation by third parties.
- Mobility & Flexibility: Since all documents are securely stored online with an eSignature solution provider’s platform, employees and customers can access them from anywhere with an internet connection which allows them greater mobility when dealing with important paperwork without having to worry about forgetting something at home or work if they need it urgently during travel or away from their desks.
- Compliance & Regulatory Conformity: As mentioned previously, electronic signatures are legally binding in most countries. This means that companies using digital document and signing solutions will often no longer need specialized lawyers who understand complicated laws pertaining to different forms of documentation. Instead, they now have access to software that ensures their compliance with local regulations automatically while also providing them with additional features such as stamping dates, times, locations, etc., on all signed documents so that any potential disputes due to incorrect information being provided during signing processes do not arise later down the line.
Electronic signatures offer numerous advantages over traditional methods of document processing such as reduced time spent on document processing, improved customer experience, cost savings, increased security, mobility & flexibility, compliance & regulatory conformity. These benefits make it clear why so many businesses are now turning towards eSignature solutions when dealing with legal paperwork. Not only does this save them time and money but it also increases customer satisfaction levels by providing a faster, more efficient way of completing transactions without compromising quality standards. If your business is looking for ways to improve ROI, then investing in a reliable electronic signature solution should be high up on your list of priorities.