The role of electronic signing in Industrial Revolution 4.0

Feb 11, 2022, 11:31 AM by Riaan De Villiers
The global pandemic forced many organisations to innovate and speed up their digital transformation journeys. Electronic signatures are an important part of this journey. In today's blog post, we discuss the role of electronic signatures in digital transformation.

The role of electronic signing in Industrial Revolution 4.0

Around the year 375 BC, Plato wrote in the Socratic Dialogue Republic, “our need will be the real creator”. Two thousand years later, we know the saying as “necessity is the mother of invention” and is still relevant to our modern world.

Electronic signatures.

Image source: pixabay

When the global pandemic and global lockdowns suddenly struck during 2019, organisations started to think innovatively. The world over organisations had to rethink how to keep employees productive while working remotely. The pandemic also impacted the traditional face-to-face channel for dealing with vendors and customers.

Many organisations digitised their process and services to cope with the "new normal". A key component of digitisation is electronic signatures. Among the many advantages of electronic signatures is they help organisations to move away from paper-based processes and ensure continuity. Today, we will discuss the advantages of electronic signatures and the role they play in organisations’ digital transformation journey.

Competitive advantage

Electronic signatures are a cost-effective way to maintain your competitive edge. Customers expect easy and convenient interactions, and electronic signatures can help!

Digitising your application forms will bring great benefits to any business. It eliminates cumbersome processes where applications must be printed, signed, scanned and emailed. Customers can apply for new services within minutes. The improvement in customer experience will let your organisation stand out head and shoulders above the competition.

Reduces operational costs

Better interaction with clients is not the only benefit of electronic signatures. By digitising processes, companies can reduce the amount of money they spend on paper, printing and couriers. Less paper means less storage space is required. Another quick saving!

In a calculation performed by LAWtrust partner Ascertia, they found that an organisation that produces 10 000 documents a year can save £45 600 (R936 842) annually.

Work smarter

Digital processes allow employees to spend less time performing manual tasks like filing papers, printing, copying and transporting paper. Electronic signatures free up employees’ time so they can spend it working on other more important tasks like building relationships with customers.

The fourth industrial revolution is forcing businesses to rethink the way they do business. Traditional processes are making way for digital processes. Electronic signatures are an important component of any digitalised business process. Organisations that take advantage of this technology will find themselves reducing costs, working faster and getting ahead of the competition.