Last week we blogged about electronic signature usage in the enterprise and how 60% of Fortune500 companies are using SignNow as their eSignature platform. So does mean that eSignatures are only appropriate for larger businesses?
The short answer is no, but in this blog we'll discuss why, and give reasons how you can benefit from eSignatures no matter how small your business may be.
How would my small business use eSignatures?
The truth is, every business can benefit from an eSignature platform as it can help streamline processes across a variety of different departments. Take a look at the people in your business who could really see the value from using eSignatures…
This is the most logical place to start, as your sales reps are the people who are out in field looking to make the sale. As a small business, it's so important that you move quickly to close the sale, in order to grow your business.
The problem with paper contracts is that you have to wait weeks for them to get signed, where-as if you implemented eSignatures you can instantly deliver contracts and get the signature without delay.
So you may not have a huge inflow of new employees, but the more sales you do, the more people you'll need. Candidates and employees will be able to sign their contract straight away, so you can get the data you need digitally saved, rather than lost somewhere in a physical file.
When setting up a business, there will be various different legal contracts that need to be signed. It could be contracts regarding your office, or legal contracts that need to be set up with on-going suppliers. By using eSignatures, you will have a record of each signed contract on hand, whether you have an in-house legal team, or you outsource it.
Your finance department will be able to do their job a lot quicker too! Everything will be managed digitally so they can get instant access to financial data, execute invoices quicker and get contracts signed without delay.
What are the benefits to my small business?
Benefit 1: Save on cost
As a small business or start-up, one of the most important factors is learning how to keep your costs down. The fact is that by using an eSignature platform you do save on many unnecessary costs.
Just think about how much you spend on paper, printing and cartridges, especially considering contracts can be extremely lengthy! If you use eSignatures you will save on having to constantly refill your printer and buy more paper. Not only that, but you won't have to post them anymore, meaning you can say goodbye to mailing, postage and packaging costs.
Benefit 2: Save on time
We're all looking for time savers, but as mentioned above, for a small business it's all the more important. Firstly you can save time by getting rid of paper from your normal contract procedures. In fact, you can actually save as much as 40 hours per month by avoiding paper.
Another great benefit is that using eSignatures is a proven method to cut document turnaround time by as much as 90%. So you don't have to wait weeks for a contract to be sent back to you, your customers or clients won't deliberate on signing the document and you can close the sale quickly.
Take a look at our infographic for more insightful stats on the real cost productivity.
Benefit 2: Accelerate business growth
So you are a small business at the moment, but do you want to stay that way? It's natural to want to grow bigger and by implementing the right tools early on in business, you will be able to reach that goal faster. Not only is it quicker for your sales reps to send clients a contract to sign, but by using an eSignature platform such as SignNow, they can keep track of the status of that contract.
Say for example a client has opened the contract but not yet signed it, your sales reps will be able to see that data and send them a friendly reminder to help move the sale forward. The same benefit can be applied when waiting for employees to sign their contracts – you can check the document status and ensure that your business stays compliant.
Benefit 3: Streamline workflow
Not only does an eSignature platform help save on time, but it streamlines your workflows so you can enjoy a hassle-free experience. Often in business the same contract needs to be sent to various team members to sign. Well with SignNow, you can actually send a document to 1,000s of signers all at once.
You can also keep an audit trial of every signed contract and because it's saved in the cloud, there's no need to worry about ever losing important documents. Our SignNow platform is especially helpful as it lets you filter searches by name or department to quickly access the right document.
SignNow even integrates with popular business platforms including your CRM system, Salesforce.com, Netsuite, MS Office, Google Docs and more! Meaning you can integrate the right data with complete ease.
Benefit 4: Showcase your professionalism
In the early days sometimes it can be hard to get people on board with what you do. You need to build up trust and show clients and customers that you are professional. But if you're sending out paper forms for them to sign then this can be off-putting. By using SignNow you can customize contracts to match your brand with your company logo, colors and messaging. It will show you respect the client, are quick to respond and above all, a business leader.
SignNow for your business…
Making it so easy for clients, suppliers and customers to sign a document on any device, an eSignature platform is a must for any small business. In fact, 100,000 smaller businesses actually use SignNow to help them run their business, so why don't you join them?
We offer great deals for smaller businesses with prices starting from as little as $15 per month. Try our free trial to see how SignNow can transform your business!