3 Strategies to Help You Use eSignature Solutions Effectively

eSignatures work through a digital signature program by using public key infrastructure (PKI). PKI enables the secure management of electronic digital signatures. Due to the advanced development of technology and eSignatures becoming more secure, 40% of all signatures are now done on digital devices. Customers are insistent on being able to easily access services that businesses offer. Consequently, organizations have no reason why they cannot make the customer journey effortless, by implementing these tools. Here we will discuss 3 strategies to help you use eSignatures solutions effectively.

1. Develop and build instant eSignatures into the workflow

Most companies already use eSignatures, but they are first-generation eSignatures. Living in a digital age means that customers are more demanding. For example, Amazon's one-click buy solution has enabled customers to order products instantly. Next-generation eSignatures have the same concept, with documents being delivered instantly and forms can be signed in a few simple clicks. This growth of technology has enabled documentation to be mobile-optimized, so customers can go through the process of signing forms from their smartphone, from any location. Building eSignatures into the business's workflow can make the tedious process of signing the documentation fast and efficient, resulting in having a productive workforce. Human error is a risk to any organization when dealing with paper-based transactions. The documentation could be misplaced or lost; however, having electronic documentation will remove these risks. Once the user has signed the documents, the signature will be encrypted and kept in cloud technology. Consequently, the forms cannot be altered. Insurance companies that have incorporated eSignatures into the workflow have closed 50% more policies on the first call and reduced the cycle time by 80%. This illustrates that customers are more likely to have an enhanced end-to-end customer experience when using eSignatures.

2. Collaborate with customers in real time

Too few company leaders understand the value of the customer experience. Customers want to feel prioritized when they are working with a business. As a result, making the long process of signing documents easy and straightforward makes customers more likely to work with an organization multiple times. This results in customer loyalty, which is crucial for businesses to grow to have a competitive advantage. Many businesses that install digital tools into the workflow, might think it's easy for the customer to navigate. However, this can be more complicated than signing physical documents. Some platforms require customers to download apps, softwares or print and scan documentation. This makes the process of signing documents complex and time-consuming. One in three customers said they would walk away from a brand they love after one bad experience. Industries such as healthcare have said that eSignatures have improved the overall patient experience, as this allows the patients to spend less time and energy on paperwork. Collaborating with customers in real time via instant signatures makes signing documents quick and simple. Next-generation eSignatures are agent-guided. This means that the customers can be guided through the process, making certain that they are completing forms correctly and leading to faster digital completion. For example, the Happy State Bank, which recently installed eSignatures solutions, can now collect multiple signatures on new account applications in under two hours.

3. Make sure eSignatures are secure and compliant

Businesses need to ensure that a third-party source is used for eSignatures. This can be easily integrated into the business's workflow. Using a third party means that the signature is stored in CRM. So when the client signs, the signature is then encrypted to ensure maximum security. eSignatures became legal in 2000. Since Covid-19, more laws were put in place to make them compliant with the majority of contracts. However, some contracts still require a physical signature, such as adoption and divorce papers in the US. To save the organizations and customers time, make sure that eSignatures are viable. Also, many consumers are still hesitant to sign digital documents. Accordingly, having clear communication with customers by stating that the documentation is secure and compliant is vital. 63% of customers said they are more likely to share information with organizations that provide a great experience; therefore, having clear communication with the customer is critical. Hence, sharing information with your customers when using an eSignature, will make the buyer's journey simple. Businesses that have used all these stages to make the customer comfortable when signing important documents, have seen a 4x increased customer interactions via digital channels.

The Takeaways

Using next-generation eSignatures will make signing documentation easier as it is instant and mobile optimized. Collaborating with customers in real time gives them trust in using your businesses, as you are helping them at every stage until the sale is completed. Companies that have incorporated eSignatures have created long-term loyal clients. Customer loyalty enables a business to gain a competitive advantage. Investing in digital tools is expensive; however, this secures clients for your business as 73% of customers say that the experience is one of the most critical factors. Creating a digital strategy will create stability in the business for all stakeholders. In addition, by easily integrating eSignatures into existing workflows makes the transition effortless for employees to learn. To learn more about Lightico's eSignature, eForms, document collection, visit lightico.com.