ESignatures can be a valuable tool for businesses, allowing them to automate processes and speed up the sales and claims process. ESignature solutions reduce the need for customers signing stacks of paper and can help organizations achieve higher conversion rates, higher sales, lower operational costs, and higher customer satisfaction. As an added bonus, the enhanced customer experience they provide can reduce customer churn and boost loyalty. These solutions can also help traditional banks keep up to date with neobanks through their seamless digital capabilities. Some of the most popular eSignature solutions can even streamline KYC or ID&V procedures.
Legal departments can also benefit from the use of eSignatures. eSignatures must comply with security and encryption standards. This makes them secure and allows legal departments to concentrate on more important work. Additionally, eSignatures can be collected to simplify administrative tasks, allowing admin teams to work more efficiently.
It automates the entire business process
eSignature technology such as https://wesign.com/esignature is a great tool for digital document exchange, signing, and verification. With eSignature, businesses can accelerate the process of getting agreements signed and expedite their sales cycles. Additionally, by integrating eSignature with a dedicated business process management (BPM) platform, they can automate contract drafting and send contracts to the appropriate parties at a predetermined point. This prevents incomplete information from being sent and ensures real-time visibility of contracts and transactions.
eSignature not only streamlines operations but also allows organizations to be compliant with industry regulations and save time and money. Companies that integrate the eSignature system with their current workflow will enjoy a significant advantage over competitors.
It reduces the friction of paper paperwork
E-signature solutions make it easier to approve documents electronically, and reduce friction that comes with paper paperwork. They enable document sharing and storage online, eliminating the need for costly and time-consuming printing. eSignature solutions allow for secure communication between parties and conform to privacy regulations in the country where they are used.
The physical process of signing paper paperwork is time-consuming and often leads to reduced completion rates and abandoned deals. By eliminating the physical signature obstacle and friction, eSignatures can increase conversion rates. T-Mobile experienced a 20% increase in mobile signing completion rates following the implementation of eSignature. That can translate to a significant increase in revenue.