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The evolution of the legally-binding signatures: the market opportunity

The classic pen and paper duo haven’t entirely lost their place in the modern world - we take down notes in meetings, brainstorm on flipcharts and jot down our social events in our family calendars. But when it comes to enhancing the modern workplace, do we still need.. Continue

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Industry Trends & Insights

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Written by
Tom Nicholson

The classic pen and paper duo haven’t entirely lost their place in the modern world - we take down notes in meetings, brainstorm on flipcharts and jot down our social events in our family calendars. But when it comes to enhancing the modern workplace, do we still need to be as reliant as we are on large physical documents, and the storage of these, to run efficiently?

The digital landscape has changed. Efficiency has become the key metric of success in the workplace and accelerated to the forefront of people’s work lives. The very fabric of how we now work has been adapted to enhance efficiency, productivity and collaboration.

People are no longer storing their documents in ring binders at the end of their desk, but in online files to easily transfer via email or messaging, and to keep secure. E-signature software has been in use for almost three decades; however, recent advances in technology have caused demand to soar. Research forecasts the digital-signature market will grow from £933.3 million in 2018 to £4.2 billion by 2023, with the market divided into cloud-based vs. on-premises solutions.

But how does it benefit your business? Why should solution providers consider adding e-signature cloud software? Simply put, offering e-signature software adds value to your customers and your business.

Adding e-signature solutions to your cloud portfolio helps you to better meet customer needs, expand the depth and breadth of your offerings, increase cross-sell opportunities with complementary solutions, drive overall revenue growth and much more.

 

What are the key changes your organisation faces when adopting e-Signatures?

 

You’ll save money

There’s no doubt that digital migration will save your business and end-users money. Not only will the cost of usage drop, but the anecdote of ‘time is money’ really rings true when migrating to the cloud.

Merely looking at the reduction of people involved in the retrieval of signatures gives you an indication of just how much you’re saving – with legally binding e-signatures, the only people involved in this is the company, and recipient, with a cloud solution acting in the interim, instead of postal services, and the many people at the recipient’s company who ensure it’s delivered to the right people.

 

You’ll save time

Time may be money, but time is also intrinsically valuable. By cutting the lead time of sending out legal documents, waiting on the receiver, then manually processing these once received, all takes time out of your team’s day.

To boost productivity, you need to be seeking new ways of reducing the time spent on menial tasks to allow your team to focus on more important tasks.

 

Your business will be more secure

Tracking large and important documents can be costly from a security point of view too. Never truly knowing what could happen to your files, leaving your legal and confidential documents vulnerable could compromise your organisation’s security to be exposed to fraud or information leaks.

With e-Signatures hosted in the cloud on a secure server, you’ll never be left in the unknown. Having visibility over the status of where your documents are in its journey to the recipient, tracking has never been easier.

 

Let’s save the trees

If you’re going to reduce your paper consumption, you’re going to be contributing to your environmental footprint. The DocuSign for Forests initiative has been saving much more than the trees needed to produce paper. Saving on paper saves so much more electricity, water and waste.

 

By being more proactive in tailoring your cloud portfolio, your end-users can benefit from more than preferential pricing and flexibility. Saving time and money while delivering on high-grade security and environmental contributions is what makes cloud solutions a great investment – one that will see your business grow exponentially through provisional pricing, incentives and centralisation.

If you’re interested in finding more about e-Signatures and how DocuSign can ensure that you’re fully onboarded, email us at cloud@ingrammicro.co.uk or give us a call at 0371 973 3060.