Electronic signatures, (otherwise known as eSignatures) have seen an incredible rise in recent years. An ever-growing number of businesses – from startups to large enterprises – are now using them as a tool to cut down on paper usage and streamline a multitude of different work processes.
As many as 60% of Fortune500 companies, and over 100,000 smaller businesses, now use SignNow to harness the power of eSignatures – helping to speed up document turnaround by as much as 90 per cent.
But how are they using them, and for which processes? In our latest article, we thought we'd take a look at some of the various ways large enterprise businesses are using eSignatures right now to optimize their workflows, and maximize efficiency.
The process of obtaining a signature on a document is mission-critical in many different industries, but that's particularly true of the healthcare sector. The primary benefit of using eSignatures comes when gathering insurance paperwork. This has a number of benefits for all parties involved.
First, and most obvious, the use of eSignatures greatly accelerates the claims process by enabling fully electronic, straight-through processing (STP). This increases efficiency for insurance companies, and gives patients one less thing to worry about in their time of need – it also ensures hospitals are paid out quicker.
Another benefit is that, since it's so easy to sign documents digitally using SignNow, it can actually help to reduce incomplete forms and errors – driving down costs and boosting productivity. These reduced cycle times can have a highly positive impact on revenue for hospitals and insurance companies.
Esignatures can also be used to speed up patient admissions and registration, and gain bedside consent. As opposed to paper signatures, electronic signatures are stored with auditable date and time information, which helps to increase patient safety, and can reduce the risk of litigation for hospitals.
Another use case for SignNow is in real estate, traditionally a very ‘paper-heavy' industry. Colliers International, a global real estate organization, uses SignNow as a form collection tool for marketing purposes.
Colliers faced a significant challenge in that they had to collect signatures from dozens of brokers, related to hundreds of properties – with each document consuming staff and broker time. Their solution was to include a link to ‘Sign using SignNow‘ in their marketing emails.
Now, when a broker is interested in a property, they simply click, sign and complete a form in a matter of seconds. As brokers complete the forms, the Colliers team can monitor and respond appropriately – allowing them to dramatically improve turnaround time and efficiency of gathering signed forms.
“SignNow has dramatically improved our business processes, saving us time and money.”
Crystal Proenza – Vice President of Marketing, Colliers
One of the key challenges faced by logistics companies is that, by definition, their workforce is often distributed across vast areas. So, for example, the process of getting work orders and timesheets completed, signed and filed can be long-winded and complicated. Esignatures are a great way to resolve these difficulties.
The laws have changed to facilitate the use of eSignatures in this way…in July of this year, the Federal Motor Carrier Safety Administration revised its guidance regarding hours of service logging software programs on mobile devices to allow for digital driver signatures.
And, at the same time, there's a growing proliferation of mobile devices which businesses can tap into. For example, according to uShip.com, 7 in 10 truckers are now conducting more business via mobile devices than they did in 2011. This makes eSignatures a sensible way to go about completing important paperwork on the move.
We work with enterprise-level entertainment companies who use SignNow to electronically collect signed documents and forms from new employees.
We were particularly proud to work with Pepsi and Mekanism on Pepsi's 2013 SuperBowl Halftime show. They needed to collected hundreds of notarizations to make the show possible, and – with our help – they achieved something in a matter of days that would have typically required weeks, saving time, effort and money along the way.
“SignNow's eSignings helped us make the halftime show happen.”
Andrea Harrison, Digital Brand Director, Pepsi
“SignNow's eSignature solution was an easy and powerful way to manage our signing process and collect signatures.”
Elizabeth Morse, Director of Integrated Production, Mekanism
With SignNow's cloud-based electronic document and signature management solution, high-tech companies can easily replace manual, paper-based business processes to shorten quarter-end sales cycles, reduce costs, improve visibility and control, and enhance customer satisfaction.
Enterprise-level tech companies use SignNow to track and monitor the usage of their devices on site and out on the field. Using SignNow, documents can be tracked in real time, so managers know when they're opened, viewed and signed. This means they can also ensure employees comply with procedures.
In an era where so many business processes are becoming more streamlined and efficient, it's little surprise that signature acquisition is slowly following suit. SignNow is the safest and easiest electronic signature solution out there…why not head over and get started with your free 30 day trial today?