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Top reasons to switch to digital signatures

How many times have you had to print something off, sign, and scan it to email it back. Or even wait for post, sign, post back, only to then receive a signed copy back. It’s an all too common issue in many businesses or departments. 

In a study by DocuSign, Human Resources (HR) and Sales were highlighted as the two main departments that are effected by the slow speed and unreliability of the current manual process. Whether it’s staff not confirming they’ve read the latest company policy documents by means of a signature, or potential sales deals taking a long time to kick off, or even potentially being lost due to the speed in which it takes to get a document to someone for signing, all of these processes are held up by the slow speed of obtaining traditional 'wet' signatures. This is an all too familiar issue in many businesses.  

So what’s the problem? 

The issues associated with using traditional methods for obtaining a signature are common knowledge, but we’ve listed our top 6 below. Here they are: 

  • Time to execute – Whether you send your document via email for the recipient to print, sign and scan, or you post it out for them to sign and then return, both are time consuming processes for those involved and will likely lead to delays… e.g. “I’ll do it when I’m next in the office”  
  • Loss of visibility – From the moment the document leaves in an email, or is put into the post you are unable to track the document. 
  • Physical transportation cost – The price of sending documents to be signed through the post quickly adds up. It’s not something we often track, but it can easily mount up and be a significant expenditure.  
  • Assurance of attribution – How can you guarantee the signature is legitimate and that the document has not been forged?  
  • Assurance of document integrity – How can you truly guarantee a document hasn’t been amended? Do you re-verify it all?  
  • Compounded by multiple signers/ recipients – All of the above points are only made worse when more than one person is required to sign a document. 

Is there a solution?

So, what can be done to improve the process? It’s simple really. Implementing digital signature technology can help. Let’s recap on the top 6 issues with traditional methods of signature capture and see how a digital signature platform can resolve these: 

  • Time to execute – Studies show that when using the postal service it takes on average 5-6 days to receive a signed document back. With digital signatures 62% of documents sent for signature are completed and returned in less than 1 hour.  
  • Loss of visibility – Digital signature platforms allow complete visibility and audit trails for the document throughout the entire process. You can track when a document has been opened, viewed and signed.  
  • Physical transportation cost – No longer do you need to invest in transportation and delivery costs.  
  • Assurance of attribution – Digital signature platforms provide enhanced layers of authentication and Bank grade security.  
  • Assurance of document integrity – Once a document is sent for signature it cannot be altered. Alongside this, a full audit trail is in place.  
  • Compounded by multiple signers/ recipients – When a document is sent for signature using a digital signature platform a process can be put in place, highlighting in what order the document needs to be signed if necessary, significantly speeding up the entire process. 

So, what's next?

If you’re interested in finding out how digital signatures can work for you, Papershrink are proud to be certified resellers of DocuSign. DocuSign is the only Digital Transaction Management (DTM) provider to be ISO 27001-certified and SSAE 16-certified (SOC 1 and SOC 2) and internationally tested across the entire company and its data centres. 
 
DocuSign replaces printing, faxing, scanning and overnighting paper documents to transact business. DocuSign enables organisations of every size, industry and geography to make every decision, approval, workflow and signature fully digital. Digital signatures are another step towards the paperless office.