03 Feb Want a real forward-thinking business? Start with eSignature
by Michael Martin
With experts predicting that 25 to 30 percent of today’s workforce will work from home at least part of the week by the end of 2021, getting your customers to sign on the dotted line is destined to be more difficult than ever. And that isn’t good for business.
Although eSignature capabilities have been around for almost three decades, the current business climate provides the perfect environment for digital signature services to thrive. But it’s not merely the pandemic that triggered the need for more secure, immediate signature tools. Studies show a leading driver for adopting eSignature services rests on factors like customer expectations and the rapid increase in mobile phone use. Around 56 percent of customers look for digital interaction from companies they deal with, and 24 percent were influenced by growing mobile phone use for business.
As we move toward a globally-diverse market, the need for a hard copy signature, or a wet signature, has been stubbornly interfering with modern automated CRM strategies. More than ever, you need tools that are efficient, easy to use, sustainable, globally accessible, and cost-effective.
Still not convinced? While you’re looking around for a pen, let’s consider some reasons why 81 percent of business users consider eSignature as the most essential in the legal and security aspects of their daily operations. These businesses and sectors include those from banking and finance, pharmaceuticals, healthcare, and government.
No wait time with eSignature
It takes valuable time to execute essential documents such as NDAs, quotes, and service documents. And that’s time you can’t afford to waste. Experts at DocuSign found that 82 percent of eSignature agreements closed within 24 hours and reduced turnaround time by an average of nine days.
Convenient for you and your customers
“We operate in a geographically dispersed business world,” wrote Inc.com contributor Larry Alton in 2018, and his perspective remains relevant today. “These days, even small, local businesses deal with different suppliers, customers, and partners in various cities, states, and countries.”
With much of the business world now operating with a flexible, remote workforce, Alton points out that electronic signatures allow for remote authentication, making it a much more convenient solution than the alternative of mailing, printing, and scanning.
Built-in security from eSignature
How secure is an eSignature? While forged signatures can pose a severe problem, businesses won’t experience vulnerability with eSignature software. Your service provider is committed to protecting essential documents that keep your business moving. Unlike traditional wet signatures, eSignatures offer an electronic record that is legal, provides proof of an audit trail, and can be used as proof of a transaction.
No need to pay for other services
Express packages, couriers, expensive printing costs add up to pricey print and service expenses. More importantly, consider the time wasted waiting to finalize and gather all of the necessary paperwork. Should the courier get lost on the way to the customer’s office, well, that’s the stuff of nightmares.
The optics advantage
We all can do our part to protect the environment. Showing that you care is an integral part of company culture. Since 2003, eSignature has saved 20 billion sheets of paper and 2.5 billion gallons of water. That’s stopped 140 million lbs of waste and 2 billion lbs of additional CO2.
Integrating eSignature into existing processes can be easy
As a global company, we appreciate the need for a system that caters to a broad customer base, and we also understand the concerns our clients may have about integrating eSignature tools with their existing systems.
Our Simplus strategy is simple. Many eSignature tools integrate with your QTC technology, so our process consists of, first, researching which has the tightest, most robust integration with your current or planned architecture stack—CRM, CPQ, ERP, etc.
Second, reduce the number of manual steps as much as possible. Your eSignature tool should automatically pick up fields as necessary and allow senders to send documents easily.
Investing in eSignature software tools enable companies to be more competitive, profitable, scalable, responsive, and environmentally sensitive. Best of all, it prepares your company to better connect within a changing work environment.
Michael is a Delivery Director here at Simplus. He has over ten years of experience with enterprise consulting in the CPQ space. Michael ensures that our consultants actively provide value to customers throughout their revenue operations journey. Prior to joining Simplus, Michael was a partner at CirrusOne, growing the company into a premier CPQ consulting firm. Michael has a BS from Harvey Mudd College in engineering.