How much time do you spend trying to gather signatures for your company’s important documents? A week, maybe two? As more companies go digital, business owners have to come up with new ways to attract new customers and simplify the way they do business.
That’s why many companies are turning to eSignature solutions like signNow. These tools allow businesses to automate document workflows so they can gather legally binding signatures in just minutes instead of days. This means you can save time and money and build better relationships with your customers. signNow is also fully compliant and designed for today’s remote worker, making it a competitive choice for many organizations.
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The market for eSignature solutions is booming. Recent statistics show that more than 6 million people ↗ use signNow every day. Another study by Fortune Business Insights ↗ states that the global market for eSignature solutions is expected to reach $7.9 billion USD by 2027.
Wondering how to take advantage signNow’s powerful capabilities? Let’s look closer.
7 ways signNow can save you time and money
#1 Close deals faster
The traditional method of printing, signing and scanning paper documents takes a lot of time. It can also result in delays, which could even lead to the cancellation of an important deal. This could spell disaster for any company. ESignature solutions like signNow allow you to sign contracts from anywhere at any time, enabling you to complete more transactions and speed up your sales cycle. You can even sign documents while you’re on the phone with a sales rep. Using signNow, you can shorten your average signing time from up to two weeks to just five minutes. You’ll also improve close rates ↗ by more than 5%.
#2 Save on printing costs
Every cent you spend on printing can be used to fund more productive tasks. Instead of printing bundles of documents and storing them in a filing cabinet for future reference, you can share them electronically. You’ll save space and you won’t have to pay high costs to maintain your printers. You’ll also give your employees a break. Did you know that the average employee can spend up to 20 minutes per transaction ↗ to print a document? Using email or fax for signing can take up to 10 minutes per transaction to complete and it’s difficult to track. Getting a signature in person can take up to three hours per transaction. signNow can cut the time spent on needless paperwork by 37.8% ↗.
#3 Save time by going mobile
More of your clients and their employees are using mobile devices at work, and they expect to conduct transactions from anywhere at any time. Once you create your legally binding signature, you can use it any time you have to sign a document. Just draw it or type it and upload the image onto your mobile device. You can also use the signNow mobile app ↗ to upload a document, add fillable fields and send it for signing—even if you’re offline. Once you reconnect to the internet, your document will be automatically synced to the server.
#4 Promote team collaboration
Teamwork makes any company more efficient. You can create signNow teams ↗ for individual departments in your organization, such as HR, legal or sales. Or, you can create separate signNow teams with members from several departments. Team members can open and edit documents online from wherever they happen to be, create their own legally binding signatures and store and share documents securely. Getting everyone onboard will help you save time and avoid confusion.
#5 Be compliant
Any company that does business in highly regulated industries, such as legal and financial services, is required to meet strict requirements for cybersecurity. ↗ signNow provides a complete trail of each electronic signature that is added to your documents so you can that ensure all signatures are valid. signNow is fully compliant with industry-leading agencies ↗ such as HIPAA, SOC 2 Type II, PCI DSS and 21 CFR Part II. It also meets the requirements set out by the Electronic Signatures in the Global and National Commerce Act (ESIGN), ↗ which recognize eSignatures as legally binding. All documents and data collected by signNow are encrypted while in transit and when stored in the cloud. Storing documents in an eSignature tool is arguably much safer than keeping them on your hard drive; as eSignature solutions become more prevalent, your customers will expect to see this option wherever they do business.
#6 Avoid costly errors
Let’s face it. When you’re dealing with a lot of documents, it’s easy to make mistakes. People sign on the wrong page or in the wrong place all the time, and these errors have to be corrected. The average staff cost ↗ to review documents for errors is about $1.83 per document. Using signNow, this cost falls to 17 cents per document. Average staff and materials to redo signatures is about $4-$24 per document. With an eSignature solution like signNow, your average cost to redo a document is a mere $1.20. The math checks out!
#7 Keep track of your files
Did you know that the average staff member spends about 38 hours a year ↗ just searching for lost documents? That’s almost a full week of work! When you consider that the national hourly wage in the US is about $22.01, you’re looking at a loss of about $836 per employee per year! In other words, each document your company loses can cost you more than 25 work hours and $500 to redo. The tracking feature ↗ in signNow means you can find your electronic documents in seconds.
Get a fast ROI on eSignatures with signNow
There’s no doubt about it: eSignature solutions like signNow can help your business increase revenue and cut costs. In fact, repeat customers can get a full ROI ↗ in about two weeks! Here’s a quick recap of how eSignature solutions will save you time and money: