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

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

19 April 2018


Question: I want to grow my business, how will digital signature help me achieve business growth?


Answer: If achieving business growth in 2018 is a key priority for your business than you have come to the right place. Converting to digital signatures has helped many of our customers to experience significant business growth for several reasons. These are:

 

1.         Easier and faster customer experience will cause in your acquisition rates to increase. Today’s digital consumers expectations have changed.  Nowadays a customer expects the sign-up process for any company to be easy and fast. We know that if the digital chain is broken at any point, potential customers are likely to abandon their sign up. Another common mistake we see is companies automating the sign up process BUT leave out the final step.  They still ask their customer to print out the form to capture their signature to complete the registration. This is frustrating for your customers and a waste for you as you’ve spent time automating the rest of the process without seeing the real benefit. Include digital signatures and you will see your sign-up rates go up!

2.         Digital signing and workflow automation will mean you can grow your business using your current staffing levels. You can scale your business without needing to hire new people to complete manual processes. This will free up your team to focus their time on value adding activities rather than administrative tasks, which will in turn result in happier and loyal customers.  Let Secured Signing take care of administrative work, such as sending automated reminders and data flow using our API.

3.         Finally grow your business with access to new markets thanks to a complete digital sign up process. No longer will you need to meet with your customer to onboard them, this means you can increase your customer base in new markets with little investments. Imagine the possibilities!

Contact me to arrange a demo of Secured Signing to achieve your business growth targets.  


Till next time,

John Webster


General

We are often asked if our digital signatures are legally binding and have the same legal effect as pen and paper signatures. The answer is yes, they are!

Today, most countries worldwide have welcomed the use of electronic signatures as a way to move beyond a paper-based environment. They have passed legislation and regulations such as Electronic Transactions Acts regarding the signing of documents in electronic format. These Acts recognise the legality of digital signature and deem it to be a binding signature.



These legislations also create a uniform standard for all electronic transactions and require the following criteria to be met for a digital signature to be binding:

1.            Identification of signatory

2.            The intent for signing

3.            Signature creation is directly to the person signing and no one else

4.            Signatory is in sole control of the signing process

5.            Any changes to the signature or and changes to the document are detectable establishing data integrity.

Whilst there are number of ways to sign electronically, Secured Signing is considered to be the ONLY digital signing platform that complies and exceeds these requirements.

With Secured Signing’s trusted digital Signature solution, you will have peace of mind that you are signing digitally in the most secure way. 

As always, if you have specific questions, please get in touch and someone will contact you personally.  

'Til next time

John Webster


General

15 November 2017,

Many of our customers have asked us how do you know who signed the document? Who was behind the keyboard?

With security features such as two factor authentications, identification verification and SMS passcode, Secured Signing offers multiple levels of security to identify the signer.

Personalised PKI X509 Digital Signature technology means that once a document has been signed the document content is sealed and any changes to the document it will invalidate the signature.

To provide additional evidence to prove exactly who was behind the keyboard / device during the signing ceremony, we have created video confirmation as an add on feature, this records the person who is signing the document.



So how does video confirmation work?

To enable video confirmation with Secured Signing, you simply tick the box to add video confirmation to the signing process and the signee will be asked to record a video.

It will activate the camera device and will capture a short video of the signer and require unique confirmation gestures to be met. The video has a unique URL link and to watch the video you have to enter a password. These 2 elements are embedded in the document and become part of the document itself.

After signing you can watch the video and compare the person in the video with other forms of identification. Video confirmation provides you with additional evidence to prove the signers identity in case of a dispute.

Digital Signature with Video confirmation provides the strongest digital signature solution in the market. Secured Signing are the first in the world to combines both technologies.

With Secured Signing’s trusted digital Signature solution, you will have peace of mind that you are signing digitally in the most secure way. 

As always, if you have specific questions, please get in touch and someone will contact you personally.  

'Til next time

John Webster