The difference between a paper-based enterprise and a digital-based business is huge. Many businesses still find themselves wasting money and time to manage and control documents. They deal with loads of papers daily and waste resources managing and controlling these.
Interestingly, all they need to do is switch to the digital path of doing business, and loads of stress will be dropped instantly. Without a doubt, much inefficiency affects the productivity of paper-based organizations. Thankfully, digital transformation has indeed transformed everything and the advent of electronic signature is one of the critical evolutions of business transformation.
No one can doubt the fact that electronic signatures can remove inefficiencies from any business. So, how does this work? To understand the magnitude of inefficiencies that organizations experience when using a paper-based approach to doing business, it is essential to look at the popular document management issues in businesses.
Understanding this will help us to appreciate the place of electronic signatures and everything that supports digital transformation in business.
Common Issues of Document Management in Organizations
If you run or work in an organization that uses a lot of paper, there is a high chance that you will be familiar with these issues.
Locating Documents
Dealing with physical documents comes with a lot of problems. When you file documents away, there is a possibility that some documents will be misfiled. Locating such documents can be a nightmare. Sometimes, you may spend a whole day trying to locate a document. It can be frustrating if you need it urgently.
Unfortunately, since no tracking technology lets you know where the document is hiding, you just have to find it. In the process, you will scatter some files that will require you to file them again. The time wasted in looking for files and re-filing files can be saved when you embrace digital documentations.
Signature Generator is one of the technologies that support digital documentation. For instance, if you create your document online, it will be easy to access it within seconds from your private cloud folders. You can share the document and even append your signature digitally. Signature Generator can be used by anyone, irrespective of your location.
This means you can share contacts with people digitally and request that they append their electronic signatures on the document. Within minutes everyone can sign the document and you can access it for further action. You can check more email signature template here to know how it works. Here are the simple steps to create digital signatures with Signature Generator:
- Go to the Signature Generator website and upload your document
- Find the e-sign tool and click on it. It will open a box where you can either draw, type, or upload your signature.
- Drag the created signature to the space for signature on your document.
- Save and download the signed document.
Sharing Documents is Tasking
A lot of business processes depend on paper movement in paper-based organizations. Sometimes, you have to wait endlessly to get approval forms or get a document signed by multiple people in an organization. With a digital document, you can get approvals instantly and get multiple to sign digitally on a document. Digital transformation and electronic signatures improve business efficiency and boost turnaround time for business operations.
Misplacing Documents
How many times have you spent days looking for misplaced documents? Even organizations with the most effective paper-based filing system can experience this issue at any time. It is more of human error and it is unavoidable in some cases. It may be that the paper got mixed up in the process of filing or it is placed in the wrong file.
The worst-case scenario is that it gets dumped in the trash can or shredded. With digital documents, you never have to worry about this. You can access documents with a few clicks and from any device. You also would not have to worry about the cost of recreating a document that has gone missing.
Unfortunately, it is sometimes impossible to recreate some documents. So, to avoid the stress and frustration that comes with paper-based documentation, it is better to move to digital-based documentation and embrace a fast way of running businesses.
How to Transform a Paper-based Process to a Digital Process
The only constant thing in life is change and although it may not be easy to adapt, the benefits, in the long run, are worth the trouble of adaptation. If you are ready to transport your paper-based business operations to the digital process, the points highlighted here will help you make a seamless transition.
- Identify Your Current Operation Costs
What are those things that increase your operation costs? What business cost is preventing your organization from attaining its profit objectives? You should also identify the specific business workflows with the biggest requirement to upgrade. The answers to these questions will give you a clear idea of areas where your paper-based system is eating dip into your business proceeds.
- Document the Specific Requirements to Streamline the Processes
Now that you have identified those things that are driving your cost, the next thing is to document the needed steps to start to streamline your business processes. You should consider those areas that you need to digitized, including your accounts payable and receivable, order management, internal control, compliance, and human resources. You should also list out the core stakeholders that are required to carry out these steps. Assigning projects to people ensures that the job gets done.
- Segment the Project
It is difficult to migrate from a paper-based system to a digital system at once. You should do it in phases. This will help every team member to get used to the idea and learn along the way. Segmenting the project into different phases makes it easy to achieve the goals in bits. With more goals achieved, your team will be more motivated to do more.
Conclusion
Any organization can adopt the digital system of running a business. The benefits are huge. They include cost-efficiency, time-saving, more productivity, and less frustrated team members. Why would you want to stick to an old way of doing things when you can adopt technology and achieve more at less cost?
Electronic signatures can remove inefficiencies from your business. With e-signature, you never have to waste money on dispatching documents to stakeholders to append signatures. You also do not have to wait endlessly for dispatched documents to be returned.
You can develop documents, get everyone to sign, and have the document returned to you within the same working day. In some cases, you can get everything done within minutes.
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