How a company conducts its client onboarding process can directly impact everything from sales to client retention. Without the right onboarding structure and tools, businesses often struggle to maintain financial growth and steadily increase their client base.
When you’re trying to expand your client base remotely, the client onboarding experience is especially important. The simplicity, benefits, and value of your business need to be well-asserted from the start.
Think of onboarding as your client’s first step in what is hopefully a long and rewarding journey with your company. If it’s done right, your onboarding process can act as the map that keeps you and your client moving in the right direction.
It’s important to use intuitive software and tools to establish that perfect onboarding process and make your customer’s experience a success. This is where digital signature software comes in.
Below, we’ll look at what many industries are experiencing today with client onboarding and explore how digital signatures make it possible to grow and expand your client base like never before.
How Client Onboarding Has Changed
Simply put, the customer experience has changed. Not only are businesses interacting with clients differently, but clients have different expectations of the companies they interact with.
According to a Forbes report on a Walker Customer Progress Report, there’s a chance that “customer experience will overtake price and product as a key brand differentiator because of the huge opportunities for additional revenue – something that every marketer should consider.” Essentially, as Forbes points out, “Organizations who deliver the best customer experiences will ultimately be able to create FOMO (fear of missing out) of their product or services through creative advocacy.”
What does this mean for you and your business? It means implementing a successful client onboarding process is more important than ever. Why? Mainly because onboarding is now mostly digital.
Popular Tools for Digital Client Onboarding
Because onboarding has gone mostly digital, fully utilizing an array of technological tools is vital.
According to industry experts, there are several key onboarding tools, software, and platforms that should be used during the digital onboarding process:
Video tools
Video tools for creating a library of shareable onboarding videos
Blog software
Blog software for creating thought leadership content
Email marketing software
Email marketing software to manage email campaigns and measure engagement
Electronic signature software
Electronic signature software for gathering forms, documents, and permissions
Customer Relationship Management Software
Customer Relationship Management (CRM) software for managing your client database, and for optimizing communications and marketing efforts
Survey software
Survey software to gather client feedback
Social media
Social media for engaging and continuing the conversation
Fully utilizing your digital onboarding toolkit helps ensure you and your customer’s success during your relationship lifecycle.
The Benefits of Electronic Signature Software for Client Onboarding
So, why is electronic signature software such an important tool? Here’s what some of the experts say:
The Electronic Signature and Records Association (ESRA) features an Adobe interview that states they’ve seen “an 83% performance improvement in getting approvals, along with 86% savings in document costs.
Businesses achieve 70% to 80% efficiency improvements after removing manual processes to adopt digital technologies like eSignature solutions.
In the U.S., companies spend more than $120 billion a year on printed forms, most of which outdate themselves within three months’ time.
Believe it or not, electronic signatures are safer and more secure than traditional paper documents. Not only do they contain a signature, but they also contain traceable information on who signed the document, when they signed it, and where they signed it.
When you get down to it, using electronic signatures comes down to five key benefits:
Speed:
If you’re looking to speed up onboarding and general turnaround times, electronic signatures can lend a helping hand. Electronic signature software allows your clients to sign important documents and paperwork with just a few clicks of the mouse. Not to mention that some studies show a reduction in signed document turnaround time from 5 days to a mere 37 minutes!
Accuracy:
Have you ever been in the middle of an important deal, only to be delayed by a paperwork error? According to a Forrester report, these errors can be reduced by as much as 80% when electronic signature software is used!
Security:
Enhanced security is one of the most important features of electronic signatures, especially when they are paired with digital signatures to implement an audit trail, signing certificates, and identity confirmation. Did you know that because of the ESIGN and UETAS Acts, electronic signatures are also legally binding in most situations?
Foxit eSign prioritizes your document security and uses SOC 2 auditing and 256-bit encryption to ensure your data is always secure. Find out more about how we can ensure your signed documents are secure here.
Access:
With all documents securely signed and sent digitally, accessing them has never been easier for both you and your clients. Electronic signatures can reduce the time spent searching for documents, helping everyone stay on track.
Savings:
When businesses save money, they can pass this savings along to their clients – what could be better for the onboarding process? Because you’re no longer having to continuously buy paper, postage, toner, and pay for printer maintenance, you can see some serious savings.
How Electronic Signatures Can Help with Onboarding Compliance
One of the trickiest parts of client onboarding is maintaining the necessary compliance requirements within you and your client’s industries. Fortunately, the right electronic signature software can help with this.
For instance, Foxit eSign has placed a primary focus on assisting businesses with compliance requirements. All documents signed and sent through Foxit eSign are:
- UETA compliant
- ESIGN compliant
- HIPAA Compliant
- FINRA Compliant
- CFR Part 11 Compliant
By implementing the use of electronic signing with your documents, you can protect the authenticity of the signer and maintain data integrity – both critical with compliance.
With strict and comprehensive compliance assistance through your electronic signature software, you can guarantee an easier and more secure onboarding experience for your customers.
Ready to give e-signatures a try and see how they can help you provide a robust and rewarding onboarding experience? Sign up for a FREE TRIAL today and see how Foxit eSign’s electronic signature software can make the difference! Enjoy helpful video walkthroughs, training webinars, and personal customer service whenever you need it.
