Why eSignatures are a Must-Have in 2023
How long do you wait for a document to return once you’ve sent it to a client for signature? Hours? Days? Maybe even weeks? Many people see massive disruptions to their workflow and business practices when clients become difficult to reach, slow to act, or make a mistake when signing documents.
Electronic signature technology mitigates all of these issues and is one of the biggest time-saving moves you can make for your business. Having a business in the modern world is no longer about simply “going paperless” but creating a truly integrated, seamless workflow with a tech stack that automates tedious, drawn out processes like sending documents for signature.
If you’re interested in trying out eSignature or learning about how incorporating e-signatures into your business can drastically speed up your business processes, now is the time. MarketsandMarkets predicts the eSignature market will grow from USD 1.2 billion in 2018 to USD 5.5 billion by 2023.
Read on to find out the biggest benefits your business will see by joining these millions of people in switching to eSignature.
An essential part of growing your business is having the time to do so and to dedicate to new clients. eSignature centralizes your process for sending, signing, and receiving documents so you can take a more hands-off approach and use the time you would have spent printing, mailing, signing, and filing a document for other, more important tasks.
eSignature also allows you to create an easily repeatable workflow. Using a software like DocuSign, you can create templates for all of your commonly used forms and documents, prepopulate the important details, and send it out with the click of a button.
All of this time saved, and increased efficiency means you can increase the number of contracts executed and increase the speed at which your business operates.
Keep Better Track of Important Documents
Sending out and waiting on the return of a physical copy of a document can lead to anxiety when those documents do not show up when expected, or worse, get lost in the paperwork shuffle. Integrating online document storage with eSignature like DocuSign allows you to track the path of a document and automatically route the signed document back to the file you designate.
No more wasted time searching for paperwork or going back and forth with clients to find out who the last person to see the document was. With eSignature, you can view when a client has read a document, be alerted when they sign, and receive the signed copy instantly.
Provide a Better Client Experience
In the fast-paced work environments of today, people expect instant results. On average, eSignature can increase turnaround time on a signed document by 25x faster than the traditional way. Studies have shown this leads to an average increase of customer satisfaction scores by 127%.
Imagine the improvements in your customer service when you switch to e-signature and provide your clients with instant access to copies of their documents, allow them to sign from anywhere – including their mobile device – and meet your deadlines much more quickly.
Stay Compliant and Protected
Trustworthy eSignature platforms, like DocuSign, follow processes outlined in US and International electronic signature law and directives. This means that documents created and signed electronically hold legal value. Electronic documents are also protected by rigorous encryption and audit trails to ensure documents are tamper-proof.
Huge time savings can be seen with the instant verification of clients’ identities that e-signature can provide. Choosing an e-signature provider like DocuSign gives you access to their trusted and highly vetted third-party identity management services. These services provide instant identity verification that’s accepted for forms the IRS is most strict about like Forms 8878 & 8879.
Give Your Documents a Complete Lifecycle
To see the full impact of these time-saving benefits of eSignature in your business, you need to create a complete lifecycle for documents: from starting agreements, through collecting multiple signatures, sharing documents across all stakeholders, agreed contract and archiving, and automated follow-ups and communications with your clients.
Integrating eSignature into your current tech stack is one of the quickest ways to start the process of optimizing your workflow and an easy way to see immediate time savings. If you’d like to learn more about DocuSign here.
We’ve created a calculator to see just how much time you can save by adopting technology like eSignatures with DocuSign. Check it out here.