5 Ways Digital Signatures Drive ROI

ROI, or return on investment, is a measure of the gain from an investment relative to its cost. It is typically used to assess the effectiveness of an investment or to compare the effectiveness of different investments. ROI is usually expressed as a percentage.?

To calculate ROI, the benefits of an investment are divided by the costs of the investment. The result is then multiplied by 100 to get a percentage. For example, if investment costs $100 and generates $120 in benefits, the ROI would be 20%. digital signatures can save organizations time and money while improving security.

Here are five ways digital signatures can help you get a better return on your investment and add value to your company and consumers.

1. Reduction of cost

Digital signatures provide a digital way of signing documents, which offers many advantages over the traditional paper-based process. Perhaps most importantly, digital signatures can significantly reduce the costs associated with handling documents. On average, each document costs USD 25 to print, mail, store, and locate; however, with digital signatures, these costs are eliminated.

In addition, digital signatures also reduce the hidden costs associated with human error and NIGO (out of order) documents. These errors can cost up to four times more to fix than documents that are submitted correctly the first time.

2. Innovation

Digital signatures are becoming increasingly popular as businesses look for ways to accelerate the pace of digital transformation. By abandoning paper-based signatures, teams are modernizing the infrastructure to assemble a cutting-edge technology stack.

A digital signature doesn’t just speed up signature collection, it also integrates with hundreds of popular business tools and automates painstaking duplication work. Digital processes increase ROI by reducing errors and increasing efficiency. And perhaps most importantly, digital signatures show that your organization is committed to innovation.

3. Boost efficiency

A digital signature is a digital integer that is mathematically related to the document to be signed. It guarantees that the document has not been tampered with since it was signed and also allows the signer to be identified. This makes digital signatures legally binding in many jurisdictions and therefore an attractive proposition for businesses.

The time and cost savings associated with using digital signatures can be significant. For example, automating the process of sending documents out for signature can reduce the amount of time spent on administrative tasks, while also reducing the risk of errors. In addition, real-time tracking information can help to avoid delays caused by chasing up late signatories. As a result, digital signatures can offer a valuable return on investment for businesses of all sizes.

4. Increased customer satisfaction

Customers expect fast, convenient, and technology-based experiences. Modernizing agreement processes and removing the barriers of offline manual labor help deliver the frictionless digital experience customers want, with little implementation or risk.

Digital signatures enable your customers, employees and partners to enter into agreements anytime, from virtually anywhere, on virtually any device. And because digital signatures are legally binding in nearly every country, you can rest assured that your agreements will hold up in court. Not to mention, digital signatures can save your organization time and money by reducing the need for paper documents and overnight shipping.?

Best of all, digital signatures allow you to complete agreements without ever having to leave your desk.

5. Accelerate revenue

Digital signature is becoming increasingly popular in the world of business due to its many advantages over traditional paper-based signatures. Perhaps the most significant advantage is the elimination of data entry errors and frustrating manual experiences that can slow down sales.?

With digital signature, up to 82% of contracts are completed in less than a day, and 50% in less than 15 minutes.

This not only saves valuable time but also allows businesses to recognize income sooner. In addition, digital signatures provide a higher return on investment than paper-based signatures, with an average revenue acceleration of 7.5%. For these reasons, it is clear that electronic signature is the way of the future.

Conclusion

The digital age has revolutionized the way we do business. From online shopping to remote work, digital technologies have made our lives easier and more convenient. Now, with digital signatures, businesses can create, personalize, send and sign agreements digitally – all with a few clicks of a mouse. Not only is this process faster and easier than traditional paper-based methods, but it’s also more secure and efficient.?

In fact, studies have shown that businesses that use digital signatures experience an ROI of up to 30%. With so many benefits, it’s no wonder that electronic signatures are becoming the new standard for doing business.

If you have any further questions or want more information about how Certinal could benefit your organization, please do not hesitate to book a demo with us or contact us at [email protected].