With the right solution, electronic signatures can be inexpensive and simple to deploy. Perhaps because they seem so logical in today’s digital world, some organizations tend to overlook e-signatures as a viable way to reduce costs, improve productivity, mitigate risk and support digital transformation initiatives. However, if you continue to overlook them as a core aspect of your business, you may be missing huge opportunities. Research and customer experiences show that with e-signatures, organizations can:
- Shorten sales cycles from eight days to three hours
- Reduce costs by approximately 30% and increase revenue by more than 35%
- Significantly improve hiring and onboarding—in some cases, as much as 80% less time to process new hires
Here are some of the key reasons why e-signatures are essential to any organization’s digital transformation initiatives.
Boost sales: E-signatures enable organizations to get agreements signed 21 times faster than paper, according to a Total Economic Impact™ study conducted by Forrester Consulting.1 A separate study by Aberdeen Group concludes that e-signatures reduce the average length of a sales cycle by a factor of 8 times.2
Simplify operations: Paper is expensive, time-consuming, wasteful and risky. It complicates processes across your entire organization. With e-signatures, you can automate and digitize critical aspects of your business workflows, from sales and sales management to onboarding new employees and accelerating supply chain management. E-signatures deliver a much smoother, faster, less complex and more digitalized experience for consumers—whether employees, partners, customers or anyone else in your ecosystem.
Increase productivity: By empowering sales and simplifying operations, e-signatures significantly improve productivity. According to the Forrester study, a typical organization would save 49,000 worker hours over a three-year period and save 2.5 hours per new hire by signing onboarding documents online.3
Minimize risk: An industry-leading e-signature solution like Adobe Sign adheres to all critical standards for data protection, security and compliance. With e-signatures, you have an audit trail backed by secure processes and certified final documents, as well as certification validated through trust service providers (TSPs). With digital signatures, each signature is encrypted within the document and backed by secure processes and an audit trail.
Modernize your workflows: With Adobe Sign, employees can easily work with web and mobile applications and leverage e-signatures with the tools they use for work every day, such as Microsoft Office 365, Salesforce and Workday. Adobe Sign works seamlessly with all of these key platforms and can typically be up and running in a matter of minutes.
Transform your culture: In today’s world, IT consumerization means delivering a digitized experience to your workers, customers and partners that is fast, easy to use and hassle-free. As the workplace gets younger and digital natives take on larger roles, organizations must transform or risk being left behind.
Embrace the future: Fax and copier machines are not the symbols of the modern workplace and are becoming more and more antiquated. The need for digital transformation is confronting every business leader every moment of every day. Within three years, 75% of all IT spending will be on technologies that empower digital transformation, according to IDC.4 It is obvious that e-signatures are the future. The question is, why wait when e-signatures are so easy to deploy and use today?
It’s easy to get caught up in the hype surrounding digital transformation and think of it as something for the future. It’s not. It’s all about the present. Look at any industry and you will see where digitally transformed companies are disrupting business practices.
With e-signatures, any organization can embrace a critical digital best practice—without having to go through an entire digital transformation process. By leveraging Adobe Sign, the path to e-signatures can be simple, safe and highly accelerated. To learn more about E-Signatures and Adobe Sign, click here https://acrobat.adobe.com/us/en/sign/business.html.
1 “The Total Economic Impact of Adobe Sign," a commissioned study conducted by Forrester Consulting on behalf of Adobe, May 2017
2 “E-signature and Sales Operations: A Catalyst for Better Sales Performance,” Aberdeen Group, October 2017
3 Ibid. footnote 1
4 “Business Transformation Through Smarter Document Workflows,” IDC, April 2016