Digitisation is everywhere – driving and transforming almost all areas of business operations, right down to its most fundamental levels. To create that competitive edge, companies need to work smarter and faster across all areas, with an organisation’s approval processes no exception. However, hierarchies, ever present in organisations, bring with it certain process compliance requirements. While essential – cumbersome, time-intensive and multi-layer approval processes can hamper an organisation’s ability to operate with the required speed and efficiency that is so vital in today’s fast moving and dynamic environment.
The solution? The digitisation of a company’s approval process, as part of its overarching digitisation strategy, through the implementation of e-signatures (a simple and legally recognised way of indicating approval or consent on a digital document).
In recent years, e-signatures have proven to be a significant and valuable part of approval protocols. As the uptake of SaaS (software as a service – centrally located software, licensed on a subscription basis) continues to grow, so too has the e-signature market over the last decade.
The advantages of signing electronically go beyond just faster turnaround and easier approvals. They account for a truly digital environment that eliminates countless potential hours lost in manual processes.
E-signatures are not only applicable to legal documents, but can also be used to automate and accelerate countless processes across an organisation. The integration of e-signatures into a company’s existing business processes not only removes time-consuming manual processes, but also improves security and reduces the risk of fraud.
Benefits
E-signatures are imperative for a cluster-free and productive environment in any organisation. The benefits of e-approval and e-signature integration into existing business automation processes are numerous.
- Turnaround time for internal approvals is almost instantaneous. Following a SaaS infrastructure with e-signatures, external approvals can be done with the ease of a few clicks and within minutes instead of days.
- E-signatures not only handle consistent bulk processes efficiently, but are also scalable to quickly accommodate seasonal or dynamic demands.
- All data and documents are digitally stored in a centralised location, which is easily accessible by relevant authorities.
- Stored documents are secure and therefore more reliable when it comes to audit trails and accountability.
- Decision-makers can sign documents at their convenience, allowing them to focus more on key aspects of their business.
- Minimal use of paper, printer and scanner. No couriering, labour charges or physical storage charges involved.
- Flexibility in signing as signatory can sign from anywhere.
Checklist
Not all solutions are equal, making the right technology key! To ensure maximum benefit and return, your chosen e-approval and e-signature solution needs to allow for the following:
- A cloud-based infrastructure that directly follows a SaaS architecture. This makes signing possible while staying independent from a host domain. Essentially, the signature process is formulated through URLs directly on a user’s device.
- The flexibility to sign from your device of choice. The moment you receive an e-mail requesting your approval, you should be able to simply click on the URL and complete your part of the process – no matter where you are or what device you are using.
- Compatibility with internal and external protocols. This ensures that approvals from customers and vendors are possible without having to change their corporate network requirements. As a result, invoices and delivery notes can be approved quickly, making transactions more convenient for each party involved.
- Enhanced security features. This ensures both the document and the signer’s authenticity. Additional features, such as one-time password (OTP), should be available to allow for remote signing while still adhering to all security protocols.
- Proof file. A proof file displays a full list of all activities carried out by the signer during the entire approval process. It should include details such as the signer’s geo-location, IP address, phone number (if provided) as well as the date and time of each recorded activity.
- Enhanced workflow features. This allows the ability to choose the number of signers, the ability to sign simultaneously or in a sequence, the ability to add attached documents, among other.
What distinguishes a digitally enhanced organisation from one that is paper based is the staggering difference in both accuracy and efficiency. E-signatures are providing organisations with greater speed, efficiencies and performance improvement together with savings on traditional documentation costs. Symtrax helps businesses accelerate its transition towards the digital future it envisions and needs! Our signature solutions allow organisations to customise and automate digital and electronic signature workflows across the entire enterprise. Key features include fast implementation, a flexible architecture, complete automation and full traceability.
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