Take 30 seconds to think of five different documents that might require a signature, especially in the professional world. The complete list of things that require signatures would extend across many pages if you were to write it all out. As such, there has been an ongoing quest to make the signature process faster, more secure, and more convenient. TrueSign is ImageSoft’s digital signature solution that is guaranteed to streamline the process for both internal and external user
s. When it comes to electronic signatures, there’s a lot to look forward to as we see stats and data increase and improve year over year. Today, we thought we should dive into some of the most impressive electronic signature stats available in 2022. This is nowhere close to all the stats available, but they’re some of our favorites to mention when people ask us “why should we adopt TrueSign?”.
- There is, on average, a total savings of 55%–78.62% when migrating to electronic signature apps from paper, taking into account material, administration, shipping, and subscription costs. Several organizations have been analyzed over a variety of studies and similar patterns were observed; electronic signature platforms can save over 50% in every case! That means you can collect twice as many signatures while spending the same amount you do now. When it comes down to it, all businesses are looking for easy ways to save money, and it’s clear that digital signature tools are an incredibly viable and reliable option.
- With all factors considered, an organization can save roughly $20 per document by implementing an electronic signature solution. Similar to the above statistic, this one showcases the money saved with electronic signatures. If you’re interested in more “hard numbers,” you can also say that businesses save around $20 for each document signed electronically. Again, this is with all affiliated costs included, but it speaks volumes as to the value eSignature tools bring to the table. If you could save $20 on any task, wouldn’t you take it?
- Errors within the signature process can be reduced by up to 80% by switching to a digital signature platform. Anyone who has had to send or collect signatures will know how deceptively complex the process can be. It’s not always as straightforward as signing your name on the dotted line. Each organization tends to have its own process that can involve many steps, specific mailing instructions, many fields to fill out, or other regulations that must be followed. On the other end, when it comes to processing those signatures, there are equally as many hoops to jump through. With electronic signature platforms, you can take the many steps out of the hands of employees and place them in the hands of the automated system. Errors will be few and far between simply because there aren’t small steps that can be missed by swamped employees. TrueSign even features a guided signing option to ensure that all fields are filled out correctly the first time a user works through a document. All signatures are digitally certified, and a complete tracking history follows each document for compliance purposes.
- Lost or missing files can be reduced by 66% when the switch is made to digital signatures. Similarly to our last point, electronic signatures can drastically reduce the number of lost, misplaced, or missing files.If an organization loses 6 files on average per week with traditional signatures, transitioning to digital signatures will reduce that average to just 2 documents per week. While no system is perfect, it makes the most sense to opt for the route that results in the least amount of data lost as possible. For organizations that also have strict guidelines in place for managing files, they can see even better rates of reduction.
- By making the signature process faster, electronic signatures can boost productivity by around 85%. Do you know what’s the top enemy of productivity? Busy work. If your staff is constantly working but seems to somehow get little accomplished, your organization might be trapped in a cycle of busy work. Of course, small tasks do need to get done, but they can interfere with a person’s ability to accomplish major goals in a timely manner. At the end of the day, while signature collection is vital, it is tedious and can greatly impede teams when it comes to getting big-ticket items done. And, since signatures rely on two or more parties, delays are common whenever schedules don’t align. By taking the signature process digital, your team can sign or process documents in a fraction of the time, freeing them up to focus on high-priority tasks. It can take just a few seconds to sign a document electronically, helping workers to blow through their stacks of paperwork in no time. There’s no need to wait around, and more tasks can start to be completed.
- According to Medium.com, with digital signatures, companies can see a reduction in turnaround time of around 80%. Lastly, we wanted to highlight how electronic signatures have revolutionized the industry. Time is money, and organizations never want to waste money. If collecting signatures is becoming the longest aspect of a project, it can become a big point of contention among decision-makers. Electronic signature solutions can reduce turnaround time by around 80%! By avoiding scheduling, traditional mail, in-person meetings, etc., TrueSign makes signing easy, encouraging parties to sign as soon as they receive the link. It’s not a hassle, so signers don’t procrastinate getting started.
These numbers speak for themselves as to why you should make the switch to an electronic signature platform like TrueSign. Whether you’re looking to save time, money, or other resources, digital signatures could be the answer. Organizations in all the most popular industries can benefit from signing tools, and they pay for themselves many times over. TrueSign is one of the most affordable and comprehensive solutions available on the market, and we encourage you to learn more about it at https://truesign.com/. We offer live demos with our experts if you’d like to see how TrueSign can benefit your specific organization. Reach out with any questions and we’ll be happy to assist you!