10 Facts About E-Signatures in Today's Any Time, Any Place World

 
 
By Darryl K. Taft  |  Posted 2014-07-10 Email Print this article Print
 
 
 
 
 
 
 
 

Electronic signatures were created to put an end to paper processing and finally bring organizations into the digital age. Think about all the day-to-day processes your organization may start electronically (a loan application, an account opening, contract, etc.), which then fall to paper when it's time to collect a signature. E-signatures eliminate the need to print documents simply to capture a signature and are especially valuable for highly regulated transactions like mortgages, car loans and insurance products. Providing a self-contained, portable record, e-signatures offer ROI benefits, legal protection, improved customer service and other benefits. E-Signatures can be stored on-premise or in the cloud, and users can e-sign any time, anywhere and on any device. Silanis Technology offers an e-signature solution called e-SignLive that processes more than 600 million transactions per year. With input from Silanis, eWEEK came up with this list of 10 important facts about e-signatures and how they can help your organization become (completely) digital.

 
 
 
  • 10 Facts About E-Signatures in Today's Any Time, Any Place World

    by Darryl K. Taft
    1 - 10 Facts About E-Signatures in Today's Any Time, Any Place World
  • E-Signature ROI Is More Than Paper Savings

    It's the combination of this paper savings along with the millions of dollars saved in deflected disputes, and penalties and settlements around non-compliance that shows the true ROI of e-signatures. Besides cost-savings, organizations see ROI such as faster loan processing, lowered risk, faster revenue recognition, lessened drop off rates in highly competitive processes and, most importantly, a better customer experience.
    2 - E-Signature ROI Is More Than Paper Savings
  • Strong Evidence Keeps You Out of Court

    When considering how to take business processes into the digital domain, it's important to consider the types of evidence an e-signature solution can provide because one of the biggest components of e-signature ROI is the software's ability to not only gather but replay evidence that can help keep organizations out of court in the event of a dispute. When it comes to e-signature evidence, the solution should offer two types: document evidence (what was signed) and process evidence (how it was signed—what the customer saw and did).
    3 - Strong Evidence Keeps You Out of Court
  • Having Access to Evidence

    E-signatures need to be vendor-independent to ensure an organization is always able to access its evidence. This is made possible when the audit trail is embedded directly into the document along with the signature, detailed information about the signer's identity, and the date and time stamp. This creates a self-contained, portable record.
    4 - Having Access to Evidence
  • Take Small Steps Toward a Big Goal

    You have countless processes throughout your organization that require e-signatures. To ensure project success, start with a single process or line of business, always keeping the bigger picture in mind. Once you have a successful implementation under your belt, and internal champions building, the expansion becomes easier.
    5 - Take Small Steps Toward a Big Goal
  • Deployment Flexibility Is an Organization's Best Friend

    Gone are the days of choosing either on-premise deployment or software-as-a-service (SaaS) when you opt for an e-signature solution that scales to your business. When looking for a true enterprise e-signature solution, organizations should look for a flexible solution that provides multiple deployment options. Depending on many factors, including process volume, project timeline and available resources, it may make more sense to use either SaaS or on-premise storage.
    6 - Deployment Flexibility Is an Organization's Best Friend
  • Selecting Your Vendor Carefully Will Pay Off

    Choosing a vendor that couples innovative technology with the deep industry knowledge gained through many implementations is one of the keys to getting your company up and running quickly and successfully on e-signatures. The experienced vendor will be familiar with your most common use cases.
    7 - Selecting Your Vendor Carefully Will Pay Off
  • Signer Experience Is Everything

    Ease of use is important with an e-signature solution; otherwise users will not adopt it. Choose an e-signature provider that can offer e-signing anywhere, on any device. Ensure the e-signature solution has a flexible workflow that can adapt to different channels and processes. Check that the solution offers a customizable graphical user interface for a seamless experience.
    8 - Signer Experience Is Everything
  • E-Signing Has Gone Mobile

    In today's connected world, you should be able to e-sign anywhere, any time and on any device. E-signature providers should be able to leverage capabilities of e-signatures on mobile tablets and phones for handwritten signature capture using a stylus or fingertip, clicking a button to sign, extended e-evidence gathering and more. Signers should also have the ability to start the e-signature process on one device, pause and continue with a different device or computer at a later time if that's more convenient.
    9 - E-Signing Has Gone Mobile
  • E-Signature Adoption Is Widespread

    Security-conscious, regulated industries face unique challenges when bringing processes online. For example, customers who have implemented Silanis' e-SignLive include eight of the top 20 North America banks, eight of the top 15 insurers and the U.S. Army.
    10 - E-Signature Adoption Is Widespread
  • Crowdsourcing E-Signature Technology Works

    We've all heard of (and used) crowdsourced information to make decisions—think Trip Advisor—and the same value applies to crowdsourced software-rankings, like those from G2 Crowd. Look for crowd-sourcing platforms that validate the user's identity through a third party, like LinkedIn, and prevent against employees and friends creating fake reviews.
    11 - Crowdsourcing E-Signature Technology Works
 
 
 
 
 
 
 
 
 
 
 

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