Life sciences companies with global reach are now making a shift to digitization. The majority of them create plenty of contracts daily, which requires signatures from multiple parties. Sometimes, the parties are located in a different location. This makes it tough to obtain signatures.
The easy and secure way to manage contracts and signatures for physicians, vendors, partner organizations, patients, and other employees is using electronic signatures. It relieves the paperwork burdens of clinical trials, reduces waste, and save cost.
It makes it easy for clinical research organizations, sponsors, patients, and investigators to quickly view, sign documents online, and return clinical trial documents. Moreover, also life sciences companies can enjoy the perks of going paperless while staying compliant with FDA regulations.
There are tons of eSignature software vendors today. Find the right digital signature maker that understands your unique business needs. It will help you accomplish cost reduction, efficiency, and sustainability.
Use of Electronic Signatures in Life Sciences
- R&D
- Regulatory affairs
- Clinical development
- Manufacturing
- Marketing, sales, and more
Benefits of Electronic Signature for Life Sciences Sector
Cumbersome paper processes are widely used across numerous life science organizations. This delays product launches and boosts development costs. Moreover, managing and tracking the paper-based processes across complicated tasks need administrative overhead.
Life sciences organizations understand that the perfect cloud-based digital document software will help them stay ahead of their competition.
The use of eSignatures is an affordable and secure alternative to traditional contract signatures. Right eSignature solution offer tons of advantages to the life sciences companies such as:
1- Expedite Business Processes
Creating a seamless experience in the life sciences sector is vital to patient retention. With real-time access to data using eSignatures, it makes it easy for the life sciences companies to stay connected to the customers wherever they head out.
It allows users to view, approve, and sign clinical trials, consent, and other forms from any device anytime, anywhere – that too in real-time. This creates tailored experiences for the patients.
2- Save Cost and Time in Clinical Development
By removing the need to print the paper forms, Life Sciences companies can dramatically reduce processing time. Whether it is servicing equipment in OR, onboarding at clinical sites, or selling to hospital staff, it also saves operational costs.
3- Meet Regulatory Compliance
Life sciences companies are global businesses. They must cater to the legal requirements of different countries. In the USA, the FDA requires each signature to be unique and never be reused.
Best e-Signature technology like Foxit eSign creates excellent, legally binding experiences. HIPAA compliant Doctor signature allows users to collect signatures securely while adhering to US FDA 21 CFR Part 11 and other industry regulations like SAFE-BioPharma and eIDAS.
4- Prevent Data Theft
Tracking and managing the progress of time-sensitive transactions is important in the life sciences industry. But data tracking was challenging, mainly for the files sent via email. FDA also requires that auditors must trace signatures and validate data.
Electronic signatures have this feature built-in, which makes it is easy to verify the identity of signers. It ensures the privacy of data with complete document encryption.
E-signature requests are mailed to signers with unique links to documents. Moreover, routing confidential documents to the right signers lowers risk.
Automated tracking and routing allow easy tracking of information like:
- Who was the contact sent to?
- How much time each signature took to get?
- Who was the next signer in the process?
Furthermore, users can also increase security with SMS verification, US government ID authentication, and password-protection.
5- Ensure Error-Free Work
Electronic signatures ensure forms are correctly filled without errors. Automated workflows ensure routing of documents in any sequence. Furthermore, mapping information from forms to back-end systems removes duplicate data entry. This helps in the reduction of errors by ensuring high data quality.
6- Increase Productivity and Revenue
Electronic signatures enhance sales productivity by seamlessly integrating them into your existing workflows and business applications using APIs. No matter you are using mobile, desktop, or web devices; you can also create tailored applications for the pharmacies, patients, and distributors using APIs.
E-signatures also neatly fit into a workflow process. Users are prompted to type their names, enter pins or passwords onto a document. Moreover, the potential to distribute digital documents from any device lower delays.
7- Creates Better User Experience
eSignatures can help you avoid the delays and frustrations linked with the paper system. Also, digital documents allow content to be digested on any device. Electronic signatures also provide advantages such as speedy response times and ease of use. This creates an incredible experience for the patients.
8- Automated Archiving
Lost or improperly stored documents pose a great legal risk to your life sciences business. Whether signing on the mobile or desktop, the e-signing process can be track securely and recorded in the audit trail. This results in an automatic archival of important business documents.
9- Help You Go Green
The life sciences industry consumes and transports plenty of goods. Therefore, they must be doing in the most sustainable manner. Sustainability will help them creates long-term value for employees, customers, and society.
E-signatures focus on ensuring compliance with an auditable signature process. Moreover, all documents are signed electronically without getting them printed. This also lowers the use of paper, thereby making you become a part of a green initiative. By focusing on “green” strategies, you can lower the business impact on the natural environment.
Conclusion:
eSignatures is a secure and simple way to get approvals, agreements, and electronic signatures digitally for your life sciences business. It is a legally binding equivalent of the handwritten signature of an individual. It also helps you save time and costs by streamlining the processes.
Electronic signatures make signature processes more agile to speed up drug delivery to the market. They also increase productivity, contract turnaround time, and transparency in the business.
If you are looking for the best eSignature software solution for your life sciences business, sign up at Foxit eSign today. It is compliant with your business operations, legal requirements, and workflows. It also ensures the integrity of digital documents by preventing the exposure of confidential data.
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