COVID-19 has become a very crucial situation for businesses across the globe. And working from home has become the only option for all the business. Everyone is using the digital way to run their businesses and ensuring their processes find an alternative way during this tough situation be it doing business online or getting paperwork done with electronic or digital signatures. If you haven’t yet switched to the e-signatures, then you must do it right away if you want to keep your business running like always.
With the help of e-signatures businesses have been able to simplify their processes and easily obtain signatures on the important documents, without any delay or constraints like distance or absence.
Now using e-signatures, documents could be easily & seamlessly signed online, reducing the turnaround time by more than 80%. This means that now a document could be easily signed and sent online before the printed paper would reach the signer! These signed documents are also legally valid – enforceable by legislation passed in various countries.
Some Facts
- There are average reductions of 80% in the turnaround time using e-Signature.
- According to the Electronic Signature & Records Association, businesses have experienced 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.
Benefits that E-signatures Bring to the Businesses, Making them More Competitive
George Moore the author of the bestselling book Crossing the Chasm rightly stated:
“E-signatures remove the last barrier between a hybrid paper-to-digital workflow to an all-electronic process, dramatically accelerating closure in any type of transaction that requires a contract. E-signatures let users cruise through the workflow without stopping.”
Saves Money
You might believe paper is low-priced. But paperwork increases the cost of purchasing it at first. After that begins the real process of printing, copying, delivering and storing all the paper for future reference. So, when you go digital and use e-signatures for documentation imagine the money you will be saving by simply digitizing this process. Since you are already working from home, this is the best time to adopt them and reduce the company cost.
Saves Time
A lot of time goes in buying the paper, printing it and then sending it to various important people for their signatures, upon that you must also do multiple follow-ups with them. When we have digitized almost everything, why can’t we just digitize signatures and make life easy by saving time and working on more important tasks? Why follow the age-old tradition of printing the documents and getting them signed by the authorized people, and if that person sits in another country or state then wait, till its back. Digital signatures save a lot of your time, as you can not only sign the documents online but also store them for future reference. Whereas during the lockdown, you can maintain all your unsigned documents on the cloud without stepping out of the house and assign specific documents to the signer with full security.
Sign Anytime, Anywhere
When technology came it had eased the work and allowed people to work anytime, anywhere in most cases. E-signature is one such solution that has helped the business to maintain their work pace and get timely approvals even during the COVID-19. One such example is, sending documents to contractual workers, and getting it signed on the spot without you being there physically. Along with this, e-signatures are safe and secure too.
Paper Trail
It’s a tedious task to manage and store paperwork. With so much data storing everything on paper can be dangerous and might also be at the risk of losing them. It also gets difficult to remember which paper has been stacked in which file and to find the same will take a lot of your time. But when you digitize everything it makes life easy and with digital signatures, you can easily track the document. Being at home, you as it is cannot do any paperwork, you might as well pick some good e-signing solution and get all the documentation online, keeping a track of everything and getting all documents signed by the teammates/ management.
Added Security
While working from home and getting documents signed online there is always a doubt about security and authentication. But, e-Signatures can also be protected with passcodes and biometric authentication procedures. People can easily access their documents simply by using their linked e-signature credentials that have been provided by the solution provider. The same can be accessed but the receiver of the emailed document from his protected account. Thus, offering you additional security as compared to ordinary paperwork.
Conclusion
During this COVID-19 situation, many businesses think that their work will not proceed as they will not be able to take signatures, instead, they can try Cygnature for their e-signing needs and close deals faster. The businesses have not closed, they are all working from home, sending business proposals and agreements. Cygnature will fasten the process and help your team do faster closures even during this period.
To understand how Cygnature will be able to help you in your business for signing documents, get in touch with our experts on hello@cygnature.io
