Every business is document-driven. At the start of a company, manual document filing can be easy and quick as the number of files is less. But as the business starts to grow, it is crucial that you can file, find, and store documents quickly and effectively.
How long do you wait for a document to return once you have sent it to a client for signature? It disrupts the whole workflow when clients are difficult to reach or make a mistake when signing documents. In fact, when the physical documents get passed back and forth throughout the office, it increases the chances of misplacing items.
But thanks to technological advancement, it has enabled us to stay organized with a higher productivity level. The electronic document management software allows data or files to be prepared and stored in a digital format. It creates a streamlined approach to archiving and retrieving information.
With the right e-signature solution, your whole workflow process can be even more productive, collaborative, and cost-efficient.
What Is E-Signature?
E-signature, or electronic signature, refers to the data in digital form on a dedicated platform.
Through an e-signature software, you can easily share documents with your clients or team members using a computer or smartphone. The recipient can then accept the terms and conditions, type or draw their signature, and send it back to the sender in just a few seconds.
Gone are the days when a stack of papers had to be printed, distributed, and stored for record-keeping. Traditional means of collecting signatures from clients via fax or email take a lot of time.
Electronic signatures simplify the whole process of getting the document signed without any delay. It saves companies a lot of time, effort, and money, as well. That’s why it’s vital to integrate e-signatures with the document software.
Let’s discuss in detail how the integration of e-signatures helps you to speed up your business workflow.
Why You Should Integrate E-Signatures Into Your Business Workflow
The workplace is transforming, and transiting to a digital document workflow is the need of the hour.
- Accelerates Sales By Reducing Contract Review Time
Switching to electronic methods of document filing provides a centralized platform where all the information can be submitted and reviewed at any time, from anywhere.
The manual process of passing documents puts some critical information in the hands of one stakeholder at a time. So to ensure full transparency, it is always better to view and edit information for a single platform.
Besides, a study shows that online signatures shortens sales cycles from eight days to three hours. It can get agreements signed 21 times faster than paper. This is because integrating e-signature with a dedicated business process management (BPM) platform automates the whole process of drafting the rules and conditions and then sending contracts to the appropriate parties at a predetermined point.
It drastically reduces the time required to process the contract. Moreover, e-signature platforms are so programmed that it can prevent signers from submitting incomplete information by designating required fields.
Furthermore, the sales team can get real-time visibility into every stage of the sales cycle. Thus, it accelerates the whole sales process.
- Provides a Smooth Experience for Employees and Clients
In today’s times, employees want a platform where they can easily carry out their work without any glitch or complexity. Implementing e-signatures eliminate manual, time-consuming, and tedious processes related to contracts and other documents.
In short, it simplifies and automates the whole process to make everything easier and speedier for workers as well as the clients. For instance, integrating invoicing software with e-signatures gives you the power to digitally sign all invoices from anywhere without any delay.
Besides, there are many e-signature solutions that offer workflow capabilities. But not all models are tuned to handle the complexity of the business workflow. In such cases, integrating e-signature with BPM provides excellent benefits.
You can automatically track documents and create audit trails from the e-signature platform. Thus, you always know the current status of your documents or can view the history of the file edits.
- Improves Compliance and Delivers Time to Value
E-signatures seamlessly and securely integrates with other software. For any business type, staying compliant with industry standards and regulations is a must. The quality document management process is of critical importance for achieving this goal. The digital document system enables you to easily keep track of document edit history, improve accountability, and also ensures that you stay in adhered to compliance laws.
In fact, both the e-signature platform and accounting software provides a digital audit trail. It gives an insight into processes for auditors and third parties. Besides, it allows you to set required fields, which helps organizations avoid non-compliance due to incomplete or incorrect information.
What’s more, combining the power of e-signature with BPM, it sends out automatic alerts to signers and stakeholders about the pending contracts or when they are due. And the best part is that this software is cloud-based, which means you don’t have to spend extra time installing the software on the end-user device. In fact, you can seamlessly access the software with a simple sign-on system for authorized users.
Companies are adopting eco-friendly business practices by eliminating the use of paper and embracing the digital era. The addition of e-signatures is also an essential procedure as it supports and empowers digital transformation within your organization.
You can easily keep track of documents throughout its lifecycle and get alerts for any changes made on the document status.
To conclude, integrating e-signatures solutions results in increased productivity, accelerated sales, and minimized risks. It speeds up the whole workflow process, taking you closer towards achieving your goals.
Himanshu Singh is a Marketing Specialist at SoftwareSuggest, He is well versed in software platforms like eCommerce platforms, project management, invoicing software. He is also interested in domains like Machine Learning and Semiconductors. In his spare time he enjoys Guitar, Badminton, and Photography.