Did you know? Electronic signatures are well on their way to becoming the most widely used digital trust tool. According to a study by Markess by Exaegis (2021), a leading digital research and consulting firm in France, by the end of this year, 87% of companies will be equipped with electronic signatures (vs. 57% in 2021). If you haven't taken the plunge yet but are seriously considering equipping your company with electronic signatures, after reading this article you'll have no valid reason to postpone this worthwhile investment. Electronic signatures: Docoon tells you everything you need to know!
1. Electronic signatures: what are the benefits?
Since the Covid episode, companies have accelerated their digital transformation. Consumers of products and solutions are looking for a fast, smooth, and secure digital experience. Organizations have therefore upgraded their tools to be able to digitize all or part of their customer relationships.
At the same time, they are equipping themselves to enable their employees to increase productivity, thanks to simple and effective tools such as electronic signatures. Do your sales representatives still have time to waste getting customers to sign this or that contract or amendment? Certainly not when there are suitable and secure solutions available. Here are a few examples (the list is not exhaustive) of situations in which your employees will really appreciate electronic signatures and will never want to go back:
- Sales department: signing of commercial agreements (service agreements, purchase orders), partnership agreements, renewal notifications, online service subscriptions, etc.
- Human Resources Department: job offers, employment contracts, sick leave, pay slips, expense reports, final account statements, confidentiality agreements, teleworking charters, onboarding documents, etc.
While electronic signatures were reserved for the banking and insurance sectors just a few years ago, companies now use this tool to save time and streamline their relationships with partners, suppliers, and customers. What would you say to a customer asking you to electronically sign a paperless order contract if you weren't equipped to do so?
2. Electronic signatures: 8 major benefits
Now that we have established the framework, let's take a look at all the benefits that your company and its customers can gain from electronic signatures:
- Time Savings:
Fast signing: No more waiting for documents to be sent, received, signed, and returned. Everything can be done in just a few clicks.
Process automation: Electronic signature tools can be integrated with other systems, enabling workflow automation.
Reduced approval times: Contract and document signing times are significantly reduced. Decisions can be made more quickly, which is essential in a competitive business environment.
- Cost Reduction:
Material savings: Less paper, ink, printing equipment, and postage costs.
Reduced storage costs: Less space required to store physical documents.
Increased productivity: Employees spend less time managing paperwork, allowing them to focus on more productive tasks.
- Enhanced Security:
Advanced encryption: Electronically signed documents are often encrypted, ensuring their confidentiality.
Authentication: Electronic signature tools use authentication methods to ensure that the right person is signing the document.
Traceability: Each signature is accompanied by a timestamp and an audit log, providing complete transparency.
- Accessibility:
Remote signing: Partners and customers abroad can sign documents without delay.
Cross-platform compatibility: Most e-signature tools are accessible via computers, tablets, and smartphones.
- Respect for the Environment:
Reduced carbon footprint: Less printing and mailing means fewer CO2 emissions.
Eco-friendly image: Adopting electronic solutions reinforces the image of a company that cares about the environment and is committed to CSR.
- Easy Integration:
Compatibility with existing systems: Electronic signature tools can often be integrated with document management systems, CRM systems, and other enterprise software.
Available APIs and SDKs: For companies with specific needs, APIs are often available to customize integration.
- Legal Compliance:
Legal recognition: In many countries, electronic signatures are legally recognized and provide solid evidence in the event of a dispute.
Compliance with standards: Qualified eIDAS 1 legal compliance and probative value identical to the original paper document.
- Workflow Optimization:
Error reduction: Less risk of human error in the signing and validation process.
Real-time notifications: E-signature tools can send notifications when documents are signed, enabling effective tracking.
Would you like to learn more about the solutions available to you for implementing electronic signatures? Contact our services for a free, personalized demo using your own documents.
(1) eIDAS: The eIDAS (Electronic IDentification And Trust Services) regulation is the common regulation of the 28 member states of the European Community concerning electronic identification and trust services for electronic transactions.
