4 Ways Organisations are Creating Value with Electronic Signatures
1. Increasing security and reducing risk through a digital audit trailElectronic Signatures have the capability to have a completely secure audit trail. With the ‘DocuSign’ solution for example, documents are not emailed; they are hosted in a secure data centre, with robust authentication, encryption, tamper seal certificates, and a chain of custody audit trail. The level of security is far greater than using paper.. Metadata is created for all steps of the signing process, providing a complete audit trail showing who accessed a document, when they accessed it, from what location, and using what type of device. Electronic Signatures are also legally valid and enforceable in Australia and most countries, including the US and Europe. 2. Efficiently managing contracts, quotes and ordersElectronic Signatures allow users to execute sales agreements online, closing deals faster—in hours and minutes instead of weeks and days.
Organisations rely on managing relationships with suppliers and vendors and coordinating procurement activities. To improve procurement, companies are moving from paper-driven to fully digital workflows. Electronic Signatures can be used in many procurement areas including; RFP management, sole-source justifications, master service agreements, statements of work, supplier compliance, purchase orders and purchasing requisitions, and NDAs.
Electronic Signatures also have mobile capabilities allowing organisations and their customers to review and sign critical documents any time, from any location, on any device.
Benefits for SMBs of using DocuSign for procurement include:• Simplifying and automating processes• Executing contracts faster• Accelerating the procure-to-pay process• Reducing risks and costs by eliminating errors and paper• Increasing compliance with company purchasing policies• Improving the experience for requestors, approvers, and vendors• Being able to find all documents and having better visibility into procurement. 3. Improving the recruitment and on-boarding of employeesFor Organisations, Electronic Signatures in HR:• Make a great first impression on potential new hires• Expedites recruiting and hiring by electronically delivering documents. Offers can be sent, received, and accepted in minutes.• Accelerates on-boarding by enabling documents to be completedelectronically• Streamlines dissemination of employee information• Decreases costs by eliminating massive amounts of paper in HR• Fits with a mobile, global workforce• Provides complete visibility into the status of every HR document
4. Optimising forms with templates and reducing errorsOrganisations often use the same types of documents for the same use cases over and over. Electronic Signature providers can allow the ability to create templates and establish specific workflows for each template.
Eliminating rework associated with incomplete or incorrectly filled out paperwork is an essential benefit of Electronic Singatures. With paper records, mistakes are common. Roughly 20% of paper records are misfiled, and misfiling results in lost documents and administrative re-work. With eSignatures, one organisaion reduced errors in documents by 40% through leading provider, DocuSign.
Think your organisation would benefit from eSignatures?Let’s have a chat about weather eSignatures are right for your organisation... Email us on firstname.lastname@example.org or call us on 1300 53 33 54