ROI of Digital Signatures: A No-Brainer Decision for Modern Businesses

In the era of digital transformation, businesses are constantly seeking ways to streamline operations, enhance efficiency, and reduce costs. One area ripe for innovation is contract management, specifically the transition from manual to digital signing processes. An analysis using detailed assumptions and parameters clearly demonstrates that adopting digital signatures with platforms like DocuSign or Evia Sign is not just beneficial but a strategic imperative.

Assumptions and Parameters

Our analysis began with a close examination of the contract management process, identifying the following key parameters:

• Contract Details: On average, each contract spans 15-20 pages, totaling 17.5 pages, and requires three rounds of signing to finalize.
• Costs and Exchange Rate: We factored in the costs associated with paper (1700 LKR per 500 A4 sheets), courier services (275 LKR on average per document), labor (1500 LKR per contract), and storage (300 LKR per contract per annum), with an exchange rate of 1 USD = 320 LKR.
• Digital Signing Costs: DocuSign and Evia Sign, two leading digital signature platforms, offer their services at $3 and $1 per contract, respectively.
• Volume: The organization processes 1,000 contracts annually.

The Financial Implications of Sticking with Manual Processes

The cost of maintaining manual contract processes is not trivial. For printing alone, given the volume of paper required (105 packs), the total printing cost stands at 178,500 LKR. When combined with courier, labor, and storage expenses, the total annual cost of manual signing escalates to 2,253,500 LKR, or $7,042.19 USD. This figure represents a significant operational expense that modern businesses can ill afford to ignore.

The Compelling Case for Digital Signatures

When we juxtapose the costs of manual processes with the adoption of digital solutions like DocuSign and Evia Sign, the savings are compelling:

• DocuSign: Transitioning to DocuSign, at $3 per contract, would cost the organization $3,000 annually, translating to savings of $4,042.19.
• Evia Sign: Even more impressive, adopting Evia Sign, at $1 per contract, reduces the annual expense to $1,000, yielding savings of $6,042.19.

Summary and Call to Action

The transition from manual to digital contract signing processes presents undeniable financial and operational benefits. With annual savings ranging from $4,042.19 with DocuSign to $6,042.19 with Evia Sign, the argument in favor of digital adoption is clear. Beyond cost savings, digital signatures offer enhanced security, greater efficiency, and better scalability, aligning perfectly with the strategic goals of modern, forward-thinking organizations.

In today's competitive business environment, where efficiency and cost management are paramount, embracing digital signatures is a no-brainer. It's not merely about keeping pace with technological advancements but positioning your business for success in a digital-first world. The choice between DocuSign and Evia Sign will depend on your organization's specific needs and budget, but the return on investment is evident for both. While these calculations are applicable for most of the countries in Asia, it is even further evident in countries such as Singapore, Australia or New Zealand. Please comment or message to receive these calculations. But if you are in Sri Lanka get the advantage with Evia integration of Lanka Sign Digital signatures, which is accepted by the authorities.

As we navigate the complexities of the digital age, the message is clear: transitioning to digital signing processes is not just a smart move—it's essential for businesses aiming to thrive in an increasingly digital landscape.

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