The Online Digital Signature Way

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11 October 2008

Automation is one of those popular business buzzwords.

And it makes sense why.

Who wants to spend all day seeing to repetitive tasks that can easily automated?

Technologies like digital signing give organisations better ways to engage with employees, finalise contracts and build customer relations.

These tools bring benefits across all industries.


Manage your Documents Digitally to Save Time and Money

 Functions like digital signatures and other automated workflows can largely be grouped under Digital Transaction Management – cloud-based applications to manage document-based transactions.

These solutions are quickly gaining traction:

     Research shows more than 65% of businesses are moving towards ditching paper in favor of digital processes.

     Aragon Research also estimated this market would grow to $US300m by 2020.

 In this post, we’ll take a look at some of the most practical ways this type of technology can help teams work better.

1.  Improve Productivity with Automated Workflows

Process makes perfect.

It’s a fact: businesses with clearly defined processes perform better.

The thing with technology-based applications is this: digital tools streamline processes that are already working well.

According to a Forrester survey, more than 40% of business leaders adopt digital tools to improve efficiencies.

So, if you’ve got a well-structured workflow, implement automations on the routine, repetitive tasks.

Salesforce, cloud computing software and CRM, helped McKinley Equipment to generate 42% additional revenue by automating workflows.

Using its Customer Success Platform, sales team work on a lead, convert the prospect and generate a customer quote from one system. Once the order is placed, an email is automatically generated detailing the next steps and thanking the customer.

2.  Automate Follow Ups to Avoid Costly Contract Delays

How much time do you spend finalising a contract?

Add on the time it takes to chase down a signature, and you’re looking at days – even weeks - wasted.

Not only that, but poor contract management  - including missed deadlines  - can end up costing you up to 40% more for supplied services, according to estimates from KPMG.

The beauty of a digital-based platform is that it will send out the reminders for you, so you never miss a due date again.

If you need to get a document signed, state your due date and the system automatically sends out reminders for you until the task is complete.

3.  Reduce Delays with Data Accuracy

One of the biggest problems with the paper-based processes is the potential for human error.

Incomplete documents or incorrect information can add weeks onto the process, and they can be costly. More than 30% of the costs related to contacts can be reduced if you eliminate contract inaccuracies.

Here’s how to use Digital Signing to Meet Business Deadlines


Evolve Scientific Recruitment, an Australian-based recruitment agency, has offices nationwide.

Documents often have to travel from candidates to Evolve offices around the country.

Several pages need to be completed before the candidate can even step on site.

The challenge with paper-based contracts was that incorrect or incomplete contacts delayed employment.

They approached Secured Signing to reduce the time it took to finalise the contract to better serve candidates and employers.

With digital signing software in place, Evolve Scientific Recruitment added a business rule validation prompting candidates to fill in all fields before the document can be sent on.

Candidates can also upload all their relevant documentation to the pack and complete the process anywhere, from any device.

The result?

A signing process that can take as quickly as one hour.

Read the full case study on Secured Signing’s website.

4.  Easy Integration for the Best Customer Experience

There’re two important things you need to consider when selecting a digital signing solution:

     Security

     Integrations

To gain a better idea of what’s on offer, you can have a look at the platform’s API (application user interface).

Leading digital signing solutions will make use of advanced personalised X509 PKI Digital Signature technology, increasing compliance and reducing business risk.

It should also be easy to integrate your existing system with the platform.

An open API eliminates the need for your customer to sign into yet another login interface.

In practical terms, it means your client doesn’t even know they’re being routed via the digital signing software.

You can read more about Secured Signing’s API here.

5.  Additional Party Notifications with Real-Time Updates

The contract lifecycle has several stages.

Once a document has been signed, this usually triggers a new process with a different team.

Additional part notifications are useful in the following cases:

     A copy of the signed contract might need to be archived with the records team.

     Payroll may need to start its own procedures once an employment agreement has been finalised.

     Maybe you have to keep your manager posted on the progress of signing.

You can have the digital signing platform send real-time notifications to any number of additional parties throughout the signing process.

If you configure these notifications, it’s one less step for you to manage manually.

Conclusion

Document management can be a time-consuming process. But it’s the backbone of your business.

Organisations that don’t embrace digital tools may get left behind with outdated processes that block growth.

Finding the right digital signing solution lets you automate routine, resource-intensive tasks, so you can focus on adding value and pushing the business forward.


Till next time,

John Webster


General

31 August, 2018

Digital signatures are new, but not nearly as new as you might think. In the US, President Bill Clinton signed the Electronic Signatures In Global Commerce Act (ESIGN) in 2000, nearly twenty years ago. For context, thats two years after Google and four years before Facebook. So its hardly untested territory. Digital signatures are faster and easier than traditional wet signatures, and here are seven reasons why.

1) It’s Legally Recognized All Around the World

The law requires that a signature is legally binding because it identifies the signatory, his or her intend, and tracks any changes to the signature (has document integrity).  These are a few of the key requirements for an electronic signature to be considered reliable. The following is a condensed list of the countries that accept electronic signatures and the laws or acts that they passed that recognizes them:

 

     Australia – Electronic Transactions Act (2000-2003, depending on state)

     Canada - Uniform Electronic Commerce Act (UECA)

     China - Electronic Signature Law of the People's Republic of China

     Europe - EU Directive for Electronic Signatures (1999/93/EC); EU VAT Directive

     New Zealand – Electronic Transactions Act 2002

     South Africa - Electronic Communications and Transactions Act, 2002

     UK - Electronic Communications Act 2000 (chapter 7)

     US Electronic Signature in Global and National Commerce Act (ESIGN)

2) It Can Be Used With Mobile Devices

Six of the seven billion people on the planet have access to a cell phone. Many people only use a cell phone, and dont have a home computer at all. So, if your document requires a signature, it wouldnt be feasible to print it out and scan a copy. Secured signing can work with mobile apps because it fits the requirements that it have data integrity, authenticate the signers identity, and the signer cannot later deny that it their signature (called non-repudiation).

3) It Saves Paper

When you save paper, youre doing more than just saving a few trees. Youre saving the money it takes for paper and printer ink (which is more expensive than many campaigns), and the space it would take to store all that paper as well. And unlike paper, you can actually use it in a search engine—so youll never misfile it, either.

4) Digital Signatures Are Faster Than Paper

As I mentioned above, you can use Secured Signing on mobile devices, which includes tablets. You will be able to keep your line moving quickly if your business requires it. You can have many people sign a form at once using Secured Signings Broadcast feature. No more need to pass the clipboard around.

5) It Saves Time by Keeping Records Together

The Smart Tag feature automates document creation and organization by tagging a signature with important metadata about the signatory. In other words, when you create a signature, you also associate it with the pertinent information, like emails and addresses. This saves you time and lowers the chances of making mistakes or losing data.

6) Customers Like It

According to a recent study, 77% of customers are moderately to very comfortable signing a document online. And 77% is also the number of people who have used an electronic signature three or more times in the last year. Your customers are probably already using it in some fashion or another, you should get ahead of the trend.

7) It’s Secure. Really Secure

Digital signatures are protected by secure sockets layer (SSL) encryption, which ensures that all data passed between the web servers and browsers remains private and maintains integrity. In addition, it secures the date and local time of the signatory, which is something paper records cant verify. Secured Signing creates a unique digital certificate to a user, an invitee, and a witness.

In fact, The top clients for digital signatures are finance, which make up 39% of digital signature customers, more than twice the adoption rate of human resources, which make up 17% of digital signature clients. If an industry that requires one of the highest levels of security is the most frequent adopter of digital signatures, you can be assured that your data will be safe.

The Final Word

If youre unsure about whether to adopt a digital signing solution, theres nothing new or scary about it. Electronic and digital signatures have been legally recognized for twenty years. It will save you time, money, space, and in some ways its more secure than paper. You should take advantage by reading up what to look for in a digital signature solution, and then try a free trial of it.


About the Author:
Reuben Yonatan is the CEO @ GetVoIP, a leading VoIP systems comparison guide that connects shoppers with relevant providers.

 


General

9 August 2018

You may have heard about digital signatures, but you’re not sure whether it has any practical benefit for your business.

The case for digital signing is compelling.

     Eighty-percent of companies who implemented digital signatures saw a return on investment in the first year.

     Twenty-five percent saw ROI within three months.

But the most immediate impact is the massive boost to productivity companies have seen on the back of digital signatures.

We’ll discuss some of the most valuable uses for digital signatures using real-world examples.

Faster Turnarounds to Complete Sales Contracts

Saleforce ditched wet ink for digital signatures, and immediately reduced the time it takes to complete sales contracts.

Key outcomes:

     Turnaround decreased from an average two days, to as fast as one hour

     Over 90% of contracts completed on the same day

     Less manual work for staff – freeing sales to focus on generating revenue

Salesforce is expanding the use of digital signatures to its procurement department, where digital signatures allow teams to track and manage the contracts throughout the process.

A Simple Process to Finalising Legal Agreements

The legal industry generates a vast amount of paper.

And along with the flood of paperwork, comes hours of document prep: scanning, signing, printing and storing volumes of documents.

There’s a campaign to change this approach, arguing that digital signatures can save “countless hours, even days and weeks”.

 The uses of digital signing in law provides:

     Enhanced security: each document comes with a visual audit trail

     No room to alter terms, conditions or dates of signatures

The practical benefits include reducing the number of hard copies the legal department needs to manage and cutting down on storage costs.

Improved HR Processes

Like the legal sector, human resources consume reams of paperwork in its core functions.

Recognising this, a tax company set out to find a way to streamline its hiring process.

The Australian operation of H&R Block hires hundreds of new agents around tax time each year. Time went into preparing the documents, tracking which had been signed and storing the final contracts.

H&R Block opted for Secured Signing’s digital signing solution. Now District Managers can send up to a thousand employment contracts in one sitting, with new hires  and managers signing from wherever they are across the country.

H&R Block realised an immediate return on investment. There was a reduction in turnaround times, and staff praised the more convenient option.

Better Customer Experience

There’s a surge of growth in the global digital signature market.

Along with the rise of digital signatures, smartphone penetration is already at 90% in some parts of the world. Customers expect to do everything online, and they’ll look for businesses who can extend this electronic experience.

Most customers don’t have access to printers at home, and the need for a physical signature may end up costing you the deal as customers opt for digital tools.

Companies who rely on paper-based processes risk frustrating customers due to delays caused by errors and unsigned documents.

More companies are allowing customers to complete the following actions using digital tools:

      Information forms for new customers

     Quote approval

     Statement of work

Conclusion

Companies across industries are answering the call and meeting the customer’s need for a simple and quick electronic experience.

Internally, companies recognise digital signatures remove the hassle of many routine administrative tasks to make way for firms to focus on the work of growing the business.

Digital signatures help companies to craft more competitive offerings, and better workspaces: building businesses who can prosper in the new economy.

Till next time,

John Webster


General

21 June, 2018

In the last decade there has been much change in the tech world. One of those changes is the increase in popularity for systems integrations. Many customers are looking for system integrations, and rightly so, there are many benefits that come from an integration.

So what is integration?

This is the process of linking together different computing systems and software applications physically or functionally, to act as a coordinated whole. Essential building your own ecosystem of solutions and platforms to meet the needs of your business.

Many software providers have seen the opportunity to build a community or ecosystem for its users – commonly known as a ‘Marketplace’. Here you can choose which solutions you need and build them into your own ecosystem.   

What are the 4 reasons you should consider use integrations?

1.    It makes things easy – one system for everything. The user experience is much simpler with what appears like one system with all the functionality you need. This removes the need to manage multiple sites/logins for different solutions part of one business process.

2.    Automation will save you time and increase your teams productivity. They will no longer need to manually copy and paste data from one system to another. An integration allows for data to automatically flow and be shares across systems. For example, information of a new staff member during their onboarding process can be automatically sent to you payroll provider.  

3.    Standardise your processes – with a system integration you have oversight over the complete process, allowing you to implement best practice methodology, especially when your team is spread in multiple offices.

4.    Have more fun – by eliminating administrative tasks, which are now completed through the integration. Your team will have more time for value adding tasks. Doesn’t that sound fun?  

With Secured Signing’s API, you can add e-Signature tool to any process! We can integrate with any system. 

Contact us for a chat today.

Check out some of our current integrations and keep an eye out for new integration solutions coming soon.

Till next time,

John Wbster


General

19 April 2018