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As companies continue to evaluate various digital transformation strategies today, many are choosing to implement electronic signature (eSignature) solutions. Doing so is a smart business decision: Not only does the technology deliver many benefits associated with going paperless—such as time and cost savings and increased productivity—but it successfully automates the “last mile” of critical transactions and significantly accelerates the speed of business.
eSignature technology is a natural fit for organizations of any size and in any industry, including legal, financial services, real estate, healthcare and more. Yet as companies seek the ideal solution, they should value those that are capable of integrating into their existing applications, workflows and business tools to not only maximize value but implement ease of use for the workforce. .
PDF software is the perfect example. As one of the most common tools for creating, editing and sending vital business documents, PDF can become much more effective with integrated eSignature capabilities. An integrated PDF and eSignature solution offers the worker the ability to digitally sign, send and validate PDFs all in a single application. By streamlining these activities into a single action and workflow, organizations can drive higher adoption of eSignature and increase end user satisfaction as workers never have to exit the PDF application they are familiar with and love using.
The need for eSignatures
While many organizations are succeeding with various digital transformation strategies, many more continue to experience bumps in the road along the way. For example, according to research from Forrester Research, 98 percent of companies reported negative revenue impact as a result of poor transaction management processes. Not surprisingly, 80 percent of decision makers in these same organizations said that they had a “clear” or “pressing” need for a digital transaction management solution.
A closer look at a typical business transaction process shows why this is true—and conversely, what companies stand to gain by getting it right. Important business documents require signatures to be collected from employees, partners, customers and vendors from around the world. Yet too often these transactions still depend on old-fashioned pen-and-paper signatures. Printing, scanning, faxing and other supporting processes are extremely time-consuming and labor-intensive, and can often include expensive overnight shipping of paper documents to complete a transaction.
If you can relate to these challenges and have even started your digital transformation with electronic signatures, you cannot neglect the need to ensure you maximize this change by incorporating eSignature into the tools and applications you use today – like PDF. As with all new projects, minimize the change management impact and delight the end user with the results and you will maximize both adoption and expected ROI. To be successful you can’t just turn on eSignature and walk away. It must be ingrained in your business processes and tools.
A trusted—and legal—way to do business around the globe
If companies are still questioning the legality of eSignatures, it is important to note that they are legal, trusted and enforceable for most business transactions around the world.
In the United States, the Uniform Electronic Transactions (UETA) Act and the Electronic Signatures in Global and National Commerce (ESIGN) Act give electronic signatures the same legal status as handwritten signatures, making them equal, valid and 100 percent legal, according to current signature law.
The European Union’s Electronic Identification and Trust Services Regulation (eIDAS) Act also makes eSignatures legal and enforceable. Many other countries have similar laws to recognize the legality of electronic signatures and promote their use.
Redefining business as usual
Digital technologies have transformed—and in many cases, significantly improved—the way traditional business practices are done. As result, many organizations are currently seeking “digital transformation” strategies to increase efficiencies, provide better customer service, operate more effectively and improve their overall competitive edge. With so much perceived upside, it’s not surprising that 93 percent of IT leaders and 76 percent of line-of-business leaders consider digital transaction management “important to the success of their business.”
Electronic signature technology is a perfect example of how effective digital tools are transforming old-fashioned, analog practices—in this case, handwritten signatures and related manual support efforts. eSignature solutions enable users and their organizations to automate business-transaction processes from end to end. It’s a real advantage: This approach dramatically accelerates transaction times, while also contributing to increased productivity, decreased costs and better customer experiences.
Now a powerful integration with DocuSign enables Nuance Power PDF users to achieve many significant benefits—with a PDF application they already know and love. If you’re already a DocuSign user, give Power PDF Advanced a try for free for 30 days by following the link below. That should be more than enough time to realize many productivity improvements in all aspects of your daily document routine.
If you’re not yet using DocuSign or another eSignature service and you’d like to dive deeper into the world of secure document transactions and how they work, download a copy of our complimentary whitepaper.