How High Tech Industries can Benefit from E-signatures

Technology plays a pivotal role in all major industries. And companies take extra care to invest in the right technology to gain an edge over their competition. But was technology ever considered this important before? Its adoption has seen a surge only in recent decades. In the early days of the Internet, technology was built to communicate any economic incentive or make products that people wanted to buy. But that changed with the world discovering its ability to scale beyond boundaries.

Today, high-tech industries have adapted to the latest technologies to expand their services or build new products. This includes technologies that seem indispensable to us now – cloud, high broadband services, cloud storage, social media, connected devices, and more. Furthermore, digital giants like Google and Amazon have evolved continuously by catering to customer expectations and modernizing in-house processes.

The Digitization Boom

The COVID-19 pandemic has accelerated the adoption of digital technologies for the survival of global businesses. Even legacy companies, antagonistic towards change, were forced to adapt to digitization to avoid being left behind. In addition, start-ups offering software-as-a-service (SaaS) and business-to-business (B2B) solutions have also decided to adopt digital solutions to modernize their workflows.

84% of enterprises have used digital tools to provide a satisfying customer experience (CX) – Acquia

Imperatives of High-tech Enterprises

High-tech enterprises are revamping their entire playbook in light of emerging technologies. With new use cases emerging, new companies have sprung up to expand their offerings and their reach in new geographies. Companies are redesigning their operations from marketing strategies and product differentiation to their ability to reach their customer base. Some of the changes needed to be undertaken by these enterprises are:-

• Reinvention of Portfolios

  Enterprises need to reinvent their product portfolios to connect with their customers and provide a new customer experience. With the proliferation of artificial intelligence, machine learning, cloud, and the Internet of Things (IoT), high-tech companies can uncover new insights faster and break limitations in different environments. The same companies will acquire start-ups working in niche segments or merge with them to enhance computing capabilities. Companies can identify new challenges faced by customers and create customizable solutions by leveraging new and emerging technologies, and new products can be launched by identifying target audiences.

• Modernization of Enterprises

  Enterprises need to modernize and transform their workflows and internal processes to meet customer needs. The COVID-19 pandemic acted as a catalyst to adapt to novel processes resilient to frequent disruptions and force majeure. Companies can reinvent themselves by identifying the work skill gap of employees and, accordingly, reinvent their technology stack to fuel innovation and business growth..

• Expansion into New Boundaries

  Technology-focused enterprises looking to broaden their horizons will need to move away from their core competency areas and create cross-industry experiences. Enterprises can cement their foothold in their industry by leveraging new technologies, a loyal customer base, and distribution channels to expand into new regions. In addition, investing in areas outside their core competency will help them unlock new value in their ecosystems.

• Adoption of New Business Models

  With new technologies comes the need to create new business models. Changes in customer demographics and needs have necessitated a demand to invest in digital technologies. High-tech enterprises will rely on novel technologies to scale their operations and spread their reach through social media channels. Likewise, digitization of tech support through chatbots and virtual assistants is the only way to satiate customer expectations in an evolving digital world.

  High-tech enterprises are leaning into new technologies such as electronic signatures or digital signatures to enhance internal efficiencies and improve customer experiences. They can revolutionize their documentation and signing workflows with e-signatures, facilitating streamlined and speedy business processes.

Benefits of Electronic Signatures

• Sustaining growth

  Electronic signatures assist teams in expediting internal processes. Internal teams can attain instant approvals from their immediate supervisors on critical documents, improving TATs in initiating action on new processes. Documents that can be signed online with e-signatures are

  • Order forms
  • Purchase orders
  • Sales invoices
  • Renewal contracts
  • License agreements
  • Transfer agreements
  • Onboarding forms
  • Offer Letters
  • And more…

• Operational Excellence

  E-signatures can streamline any digital document workflow from end to end. With API integrations accompanying almost every online signature-making solution, adopting these platforms is quick and easy. Efficient operations and high-functioning employees are every company’s dream – let digital signatures lead the way!

• Risk Mitigation

  High-tech industries are a frequent target of cyber-attacks due to the sheer volume of data they carry. Using digital signatures is a sure-shot way of having visibility and control over critical document workflows. For example, eSignature solutions, such as DrySign, have powerful security features such as multi-factor authentication (MFA), password-protected documents, and real-time mail trails as countermeasures to limit unauthorized access.

• Superior Customer & Employee Experience

  Today, experience is paramount for both customers and employees. For example, 25% of a company’s new hires would leave within a year if the onboarding experience was poor or stressful. In light of the COVID-19 pandemic, remote workflows and instant access have become commonplace. DrySign’s digital signatures can be used to facilitate an effortless onboarding experience for new joiners, regardless of their location. Furthermore, providing your clients with a smooth, streamlined signing experience while going through documentation can keep them coming back to you.

Also Read: Why E-signatures are Essential to Succeeding in Business

How DrySign Helps

DrySign is an advanced digital signature solution used by major industry players worldwide to expedite their signature and document workflows. It is used between parties to ascertain each other’s identities and ensures the integrity of electronic documents. The source and owner of the message are protected to prevent fraud, theft, and cyber-attacks. Here are some quick benefits of DrySign’s digital signature solution:

• Enhanced security

  Your security is DrySign’s priority. And like every good business, we know that document security is your priority. With multi-factor authentication, SSL Security Certification, Password Protected documents, and a mail trail with time stamps, DrySign ensures that your organization meets the highest data privacy and security standards.

• Greater flexibility

  Hundreds of teams and thousands of employees working from diverse locations - this may sound tricky to get a job done within the desired timeline and efficiency. However, DrySign makes it possible for signing workflows to happen anytime, from anywhere – the software works on all devices and operating systems.

• Greater savings

  The bottom line of every growing and successful business is to drive sales, cut down on unnecessary costs, and generate revenue. With DrySign, you can do all this and more. The software helps cut down on printing and other paper-based processes. Moreover, a lot of the hidden costs, such as fuel, storage, postage, etc., are also reduced as you can store and send critical documents online.

• Sustainability

  As seen at the start of the blog, in today’s fast-growing business world, everyone is taking steps toward more sustainable options. DrySign helps contribute toward a sustainable future as it automates your entire document lifecycle end-to-end without having to print a single sheet of paper.

• Improved customer experience

  Customers today expect the world, and rightfully so. A highly competitive market has led businesses to find new and innovative ways to improve customer experience and retain clientele. Adopting DrySign in your document workflow processes is easy because your signatories don’t even need a DrySign account as long as you have one! Impress your clients and make sure they pick you over the competition.

Conclusion 

Integrating new digital technologies boosts investments and helps companies make the most of their operations and processes. E-signatures possess the potential to transform internal processes and expedite decision-making within teams for every industry.

Trust DrySign to refine internal processes and help employees work smarter.

Sources: businesswire.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

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