We have compiled a list of the top ten benefits of digital signatures, which we have seen from companies that have implemented digital signature solutions.
The technology we have at our disposal today makes for exciting times, with ever-evolving digital tools drastically changing the way business is done.
As an international provider of digital solutions, SigniFlow is grateful to be at the forefront of this exciting era, and to see the different ways in which our solutions empower businesses of all sizes to streamline processes, become compliant and ultimately serve their customers better.
On the back of this, we’ve put together a list of the top ten benefits of digital signatures. We have seen these play out in the businesses we serve with our solutions.
- Document Security. Nobody wants to have to go into crisis management mode when important paper documents are stolen, misplaced or destroyed due to a fire, flood or other unforeseen disaster. The fact is, these things happen – and prevention is always better than cure. Digital document management and storage eliminates the chances of physical records going missing or being destroyed.
- Company image. Using digital signatures and finalising contracts and agreements so much faster than expectations have always dictated shows clients your business has the latest technology in place, and is serious about efficiency. For one of our clients, the fact that they used a digital signature and workflow solution turned out to be a differentiator when it came to them getting a deal.
- Corporate social responsibility. There is without doubt increased awareness and a higher expectation for companies to be environmentally aware nowadays. Using digital signatures and supporting a paperless business model demonstrates that you as a company are aware of the impact using paper has on the environment, and willing to employ solutions to minimise damage. Paper pollution causes serious adverse effects to the quality of air, water and land around us. Not only is discarded paper a major component of landfill sites, paper recycling in itself is a major source of pollution, given all the sludge that is produced during de-inking.
- Time management. There is nothing more time consuming – not to mention frustrating – than having to spend hours searching for physical documents that went through a lengthy manual signing, managing & storing process – and straight into a proverbial black hole. Digital Signatures turn hours – sometimes days or even weeks – into mere minutes by allowing you to quickly find the required documents, on a secure server, and then action them.
- Simplification of processes. One of our recently acquired customers were pleasantly surprised to see how simple going digital and paperless was, and how quickly our solution was able to save them time and money by simplifying day-to-day business processes. “We initially thought the change to digital processes would complicate things and take so much time to implement, but it turns out it was simpler than any single manual process we’ve done in the past, and our employees were happy and quick to get on board and move away from old manual contract signing and filing systems.”
- Customer satisfaction. We love to hear feedback from our customers about their customers, because we understand how much value a customer holds for a company. While organisations stand to benefit hugely from going paperless – in both monetary and time-saving terms – the customers they serve reap just as many rewards, including convenience, speed and efficiency. At the end of the day, a happy customer means a happy bottom line.
- Eradication of fraud. Our list of the top ten benefits of digital signatures would not be complete if we didn’t mention the “f” word. It’s no secret that any semi-skilled con artist can forge a physical signature. Digital signatures completely eliminate the risk of forgery, because they are backed by a unique digital identity, based on globally accepted Public Key Infrastructure standards. There is no higher level of security when it comes to signing a document.
- Legality. One of the things we frequently get asked by customers, is whether digital signatures are legally valid across all parts of the world. The answer is yes. SigniFlow digital signatures were developed with both security and compliance at their core, and are compliant with European, US, South African and international regulations for electronic transactions and trust services. Our solution uses state-of-the-art digital cryptographic signature technology that allows businesses and their customers to sign documents remotely and securely, with the sound knowledge that they are signing with signatures that are legally binding.
- Money savings. This is probably the most immediately raved about benefit see when companies deploy digital signatures. Apart from the obvious money-saving benefits that come with not having to print documents out, such as no more paper, ink, printers and maintenance, there are other associated cost savings enabled by digital document management and storage, such as needing less physical office space (which is often one of the biggest expenses a company has), and document distribution.
- Audit trails. In business, the ability to trace documents to their origin is crucial – not only for internal records, but also for the sake of transparency, compliance and protection of company information. Our digital signature workflow system provides businesses with a full digital audit trail, kept with documents in the SigniFlow workspace, stored on secure servers.
Source: SignFlow News