How to Use Electronic Signature: Use Cases for Your Business

How to Use Electronic Signature: Use Cases for Your Business

The use of Digital Signature Solutions is not the latest news. Businesses across the world are leveraging this user-friendly solution to accelerate their documentation process.

The use of a paid and free electronic signature app is visible across the world especially after the sudden outbreak of Coronavirus. COVID-19 has made it mandatory for people to indulge in contactless transactions as much as possible and perform every possible activity online from the comfort of home. Let us explore the use cases of document signing software across the business sectors.

Auto finance

In today’s competitive lending landscape, if you wish to win and sustain the customer base, speed and convenience is the key. However, it is sad how many lenders rely on clumsy business applications and documentation processes which not only hamper businesses growth but also leave a bad impression on potential customers. Hence automobile dealers or agents who rely on traditional ways of documenting paper end up spending days or sometimes weeks chasing customers to complete the application correctly. During this lengthy process, the customer might lose interest in buying the product or buying it from you. In both cases, you are at loss.

Relying on the right app for signing documents helps in streamlining the loan process through quick signatures. Such solutions also make the process mobile-friendly and simple for both customers and agents. E-signature solution makes sure that all the documents are submitted after proper verification, the documents are signed and filled correctly by the right person, etc. This also makes sure that the errors are eliminated or reduced at least, saving the staff and customers from rework. Quick application processing also means the customers can get the funding easily and the car can be transferred to the purchaser's name quickly. Quick purchases also mean you can make more sales and hence attract more profit.

Benefits of using Digital Signature Solutions for the auto finance sector:

Better Loan Conversion Rates

Shorter Time to Funding

Mitigates Rework

Faster Document Collection

Simple Compliance Processes

Legally Backed

Optimized Customer Experience

  1. Banking

If you are a banking business that is using a reliable paid or free electronic signature app, then you can expect it to work wonders for you. These are real-time collaboration software that helps baking businesses like yours to quickly draft applications, share with multiple parties, collect their signatures, process documents, and store securely on the cloud with accessibility available only to the concerned parties. Here parties can access the stored data from anywhere at any time. In the banking sectors, every staff has to deal with documents and files every day. There are different types of documents that need to be approved or rejected or signed or sent or submitted to the government bodies for approval or stored safely. Most of the time, the banking business deals with crucial personal and financial data which must be protected. This data has to be shared and stored accurately. All this more has to be done on a daily basis, without any errors or delay. Performing these activities manually in today's fast-paced world would bring no good to the business. Hence, many banking institutions are now relying on the use of Digital Signature Solutions.

By switching to Digital Signature Solutions, banks allow customers to finish the entire application process through a digital channel. Bank staff do not have to run after customers any longer. The documentation process becomes more convenient. When the documentation process is quick, digital and safe, customers rely on the bank more and do not mind continuing with you. Customers also get to enjoy a smooth application experience.

Benefits of Digital Signature Solutions for banking:

Easy, And Faster Customer Onboarding.

Better Conversion Rates.

Increase in Sales.

Mitigated Operational Costs.

Better Customer Experience.

  1. Higher education

If you are running an educational centre, you would agree that the administrative staff has to deal with lots of paperwork every day. These documents are of various types, some are enrollment applications, some are education loan applications, some are raising complaints, some are for leaving the educational institution, some are job applications, etc. All these applications need to be handled professionally and systematically without any errors or delay.

When everything needs to be done quickly and accurately, educational institutions cannot rely on human efforts. Plus, managing papers manually leads to higher operational cost, delay, and frustration among students and parents, ultimately jeopardising school/college reputation.

With an app for signing documents, admissions and financial support processes become easier, simpler and automated. The solution makes sure all the applications and forms are fully and completely filled. These forms can be managed under different tables easily and can be shared with the concerned authorities quickly for approvals. In case you are an Education Centre that is open for foreign students having a reliable digital signature solution installed in the business system would be beneficial for the growth.

Here are the benefits of installing document signing software for higher education:

Automated & Simple Application Processes

Accelerated Admissions.

Building Credibility And Trust.

Lowered Documentation Costs

  1. Insurance

At the core of every successful insurance business after is easy and simple documentation processing. Instead of knowing the competitor market and the rising customer demand, many businesses still prefer to rely on manual paperwork, physical file storage infrastructure and other inefficient processes that forces insurance agents to run after clients for documents. This back and forth for signatures and collecting documents cost insurance agents a lot. Plus, lit if time is wasted in travelling and waiting to collect every signature or every concerned document. The more delayed the process is, the more frustrated the customers get. Unsatisfied customers are not good for any business. By installing a credible document signing software, it is possible to automate the insurance application process and the agents can process documents easily, quickly and simply. Most of these solutions are user-friendly, which means your agents can process multiple documents at the same time through a smartphone. And so can your customers. Customers can apply and sign the document while on the go or simply by sitting on the couch watching Netflix using their laptop or tablet or mobile phone.

Here are the benefits of using paid or a free electronic signature app for the insurance sector:

Boosted completion rates.

Decreased collection times.

Reduced waiting and chasing period.

Boosted customer experience

  1. Legal teams

Every successful law firm runs on two values, efficiency and professionalism. Shockingly, numerous law offices actually experience the ill effects of slow documentation processes that need face-to-face signatures, faxing, mail, and administrative work to gather signatures, documents from customers.

These obsolete and eternal to and fro drives up expenses, and delays leave customers disappointed and unsatisfied.

An app for signing documents works on customer-facing measures. This means, signatures, documents, and payments can be gathered easily without the requirement for faxing, overnight mailing, etc.

Customers can perform all documentation and signatures continuously from any gadget. Digital Signature Solutions make client interaction productive, so law offices can lessen administrative work and pay more attention to more beneficial tasks.

Advantages of a free electronic signature app for law agencies:

Quickly gather ID and check client identity for law compliances.

Share application forms or agreements, while talking with clients on the phone.

Immediately gather eSignatures on agreements and consent on contract terms and revise policy details in real-time.

Clients complete transactions through secure payment gateways.

  1. Telecommunications

An e-signature solution brings dynamic, automatic in-call work values to telco organizations so all client-facing and sales services providers can perform their job quickly and safely.

Telco sales processes are usually challenging for the sales team. It is a challenge for the sales professional to close the deals and even customers find it hard to stick to the sales officer for a long time due to the lengthy and clumsy documentation process. The overall effect of this is customers losing interest in the company. This has driven telcom to discover approaches to improve their sales process, and probably the most simple method of doing so is by carrying out an eSignature method.

Advantages of a Digital Signature Solutions telecommunication companies:

Speed up Sales and Boost Offer Take Rate

Boost NPS and Customer Retention

Automated Workflows to Mitigate Errors and Variability

Accelerate Service and Boost FCR

Lift Customer Satisfaction and Retention

Here are the reasons for which many businesses are relying on the use of Digital Signature Solutions:

Saves Time.

Saves Cost.

Easy Remote Access And Improved User Convenience.

Verification of Signature.

Identity Verification.

Legal Backing.

Secure Process.

High-end Measures To Protect Privacy.

Eco-friendly.

Sustainable and futuristic.

Perfect For The post-pandemic World.

Conclusion:
Online Signature Pricing of any reliable e-signature solution is reasonable and hence affordable to every business irrespective of its size, profit scale or revenue. Using a free electronic signature app is vital and beneficial to many businesses as said above.