“Change is the only constant,” someone said. So right it is! The present pandemic has emphasized this statement like never before. This time, what causes the change is one virus, and what changing is the digital structure in the world. A small, but crucial part of the digital spread post-COVID is ruled by the acceptance and use of electronic digital signatures by governments and businesses.
Before we go ahead and talk about the roll-out plan of Digital Signature Solutions for a business,
Top Advantages esignature solutions can have on your business.
Efficient, and time-saving
Rather than wasting your paper, ink, and time in printing, signing, and physically transporting what if you could just click the sign button and mail the documents? Won’t it be great? Especially, during COVID where we are supposed to lead a contactless life as much as possible. Plus digital sign documents can be stored easily and are accessible from anywhere at any point. These documents can be stored safely as the chances of losing or miss placing them are reduced or completely eliminated.
Shipping physical documents cost us depending upon the distance the document is going to travel and the weight. Plus printing also costs us some amount or other. In comparison to these costs, the cost-effectiveness of digital signatures is tempting from the long-run perspective.
Positive customer experience
Esignature facilitates faster delivery of documents which helps speeding other organizational processes, ultimately enhancing positive customer experience. Nobody likes to be kept waiting, online document sharing and electronic signature saves time and customers get the required approval in time, especially in the banking sector where the activities are in one way or other connected to the money. Plus, concerned parties can track the progress such as when the [particular document is, who has signed it, is it stamped, etc.
This is not a briner. If you are using fewer paper items, you are helping the environment. Electronic Digital signatures can help you go completely paperless and stay green.
Acceptance by Law
Many countries across the world such as Peru, Australia, New Zealand, USA, and many others, have accepted digital signatures as an equivalent of physical, hand-written signatures. In these countries, esingatures have valid support.
There is no doubt that the electronic signatures are more secured and safe as compared to hand-written signatures. Esignatures use cryptographic algorithms that cannot be replicated, hence cannot be forged. The digitally signed document cannot be changed post-signing.
Implementation and ease of use
Last but not least is the ease of use. Digital solutions come with features like password protection, bulk signing, etc. Businesses across the world are adopting digital signing for these reasons.
Now that we have seen a few importances of esignature software features, here is a guide focusing on how a business can roll out the digital signature solution in the organization and what factors to consider while doing it:
Rolling out any new technology or software demands collaborative efforts from every department and branch of the business.
Business requirements and comparability with management software
If you are a business with employees, partners, investors, customers, suppliers, and branches spread across the world, you must be relying on business management software like ERP, CRM, etc. In this situation, you should deploy a digital signature solution that can be integrated well with these software and multiple operational needs and meet all these demands through a single platform.
The law of land where the business is operating matters the most in the deployment of signature solutions. If you’re an MNC, your offices spread across the world can use this solution only if the respective country has laws allowing it.
Even if the country accepts a digit signature as a valid signature, there are certain rules you (as a business) will have to follow. The solution must follow the best practices assuring the signer’s identity, validity, safety, information integrity, etc.
If you have made a smart decision of deploying an e-signature solution in your organization, make sure you have the necessary technological infrastructure.
For example, multiple e-signature tools come with in-built integrations with known businesses management tools like Salesforce, SAP, etc. Some demand robust API support from e-signature platforms.
E-signature solutions come in both cloud-based and on-premise solutions approach. Businesses can choose a suitable approach depending upon the technological infrastructure, budget, work culture flexibility, security structure, and compliance.
A few more things to consider before deploying the esignature solution:
Research and Pick a Vendor
It starts with picking the right solution provider for the business. Not every solution provider will suit your business needs. Some solutions might be lacking security measures or some will be slower than your expectations. Modern businesses are fast and believe in the utmost accuracy and ease.
Choose a solution that can easily be learned or managed by your staff. Any technology can be beneficial only if it is easy to use and simple to understand. In case the solution demands training, the business should involve the concerned staff across the locations along with the IT and legal team.
Run a pilot
Businesses are recommended to run a solution on a pilot basis within a limited scope to check its compatibility with other business management tools and the overall work culture of the organization. Pilot runs provide everyone involved a chance to understand and monitor the solution and its impact.
There is no hurry, but the right time has come! Businesses have to find the most effective and budget-friendly way of integrating technological solutions in business operations. ERP and CRM are not enough. Doors must be opened to advanced or smart technologies to automate recurrent-but-crucial tasks.
Digital signature solutions are the future; this technology is going to get advanced with the passage of time, and those who walk with it stand better chances of walking shoulder-to-shoulder with the future.