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| The (Not So Curious Case) of Measuring Business Transactions and ROI for e-Signature Systems |
By:
Alfred Siliano |
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The way online business transactions are done is changing. Paperless straight-through processes (STP) are now the trend, and they are revolutionizing the way organizations run their businesses. The use of electronic signature software streamlines their productivity and makes their tasks more efficient. It also provides business owners the capability to audit their processes and check which ones are compliant to their standards and which ones aren’t.
Aside from the fact that it gives your business a technological edge, the shift to e-signatures from handwritten signatures will yield dramatic savings, increase available funds for research and business development, and make your company more environment friendly. It also reduces the amount of time needed to get contracts signed and products launched and gives your company a competitive edge over those who are still using traditional contracts. You can save weeks or months in the process of getting your contract signed and get the product on the market right away.
Leading companies in the esign management market are saying that digital signature suites are becoming more and more advanced. The price may have gone up a little bit, but the software available today can handle more complex workflows and can be integrated into a company’s existing strategy more easily. The easier it is to integrate into the existing system, the better it is for the company. Most vendors now are creating suites with products that can cover all kinds of market demand for electronically generated signatures---from integration to authentication and the actual signing. Because of this, there are more clients who are becoming interested in the concept, and those who are already using some form of digital signature system are looking for more advanced services.
Investing in electronic signature software is a serious decision for any organization, large or small. To implement it across the enterprise will mean that you will get a good number of accounts for each employee, add on different features and even buy additional ones from the provider. You will also need to create different channels and generate a workflow for different business processes to include e-signing. It is only fair to say that before companies buy the software, they should build a detailed analysis of the cost of the project so they can get a good picture of the benefits and both the financial and non-financial savings they can expect from using the new software.
The return of investment (ROI) for the use of an e-signature system is not dependent on an office-wide implementation, though. It usually begins with just a few key employees having an account, so the impact is not seen right away. However, it is important that you calculate the ROI during the initial implementation because this will give you an idea of the benefits of the technology and will provide evidence on whether or not you need to scale up the implementation of the new software.
The use of an e-signature system will be a very instrumental tool for any business, especially with the way the business landscape is changing these days. It helps companies achieve a new level of efficiency and competitiveness. If the correct expectations are set, business owners will see how much they can benefit from using electronic signature software.
About the Author
Alfred Siliano is a business owner who frequently uses electronic signature software. For more information, go to http://www.docusign.com/ today. |
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