Contract administration may be simplified using digital document processes and electronic signature technologies, which can save hundreds of hours each year.
In the event that your company is still writing documents from scratch and then depending on signers in a process to manually pass papers to the next signer, it may be time to consider an update.
When using a best-in-class system, automating the electronic document signing software process for documents is simple to set up.
Once it is complete, any authorised user may create a new document by filling out a form with the necessary information.
Upon receipt of the first signature, the document is instantly delivered to the next person who must sign off on it, and so on until all signatures have been received.
It will also generate a record of who signed the document and when they did so that you will always be aware of the document’s current state.
Electronic Signatures in Workflow Automation
Bulk Signature Document Dissemination
You don’t write the most critical documents for your company by searching and pecking away at a keyboard one key at a time.
So what’s the point of distributing them one at a time? Digital document management systems that are properly configured have the capability of sending documents to hundreds or even thousands of recipients at the same time.
It will also enable you to authenticate each user through the use of SMS, email, or phone calls. Each document will have a record made at each stage of the process, from opening to signing, to ensure that no information is lost.
Moreover, after the signature procedure is complete, a copy of the finished document will be provided to the recipient and will be kept on file for future reference.
When it comes to simplifying procedures, bulk document delivery is vital. Here are just a few instances of processes that will profit from the use of large quantities of materials:
- Notices from the HR department that need to be acknowledged
- Multi-organization advertising offers sent out
- Tenant forms are distributed
Using Templates Speeds Up Document Creation
Every document does not have to be a work of art in and of itself. For the most part, it is preferable if they aren’t Skip to the end of the line with a template to save time and money. Many document templates should be included in the correct electronic signature system.
Document creation is sped up and simplified thanks to templates. You only need to tweak a few basic fields to get started. Templates can be used in a variety of ways, such as:
- NDA, or Non-Disclosure Agreement
- Requests for budget approval from non-profit organisations
- Statement of Work (SOW)
- Letters of engagement for legal counsel
- COVID-19 statement of symptoms by HR department
Automate the Process of Collecting Payments
Consider the possibility of receiving payment for a transaction as soon as the contract is signed.
A best-in-class electronic signature system can contain an online payment processor, allowing users to choose whether or not to continue to pay immediately after signing.
It will also automate the sending of reminder emails to ensure that your customers remember to pay their bills on time.
Signers can pay promptly with credit cards, debit cards, ACH payments, SEPA payments, Apple Pay, or Google Pay if they use the appropriate electronic signature and electronic payment combination.
In addition, you have the ability to customise which payment methods you take based on your company’s requirements.
Platform Integrations should be Utilised
Developing a world-class digital document management system is not something that happens in a vacuum.
There are hundreds of helpful apps and systems that are set up to easily interface with it, allowing you to combine data and take action regardless of whatever programme or system you are presently using. With the proper system in place, you may do the following:
- Assist you in conducting business from the comfort of your favourite Microsoft apps such as Microsoft Outlook, Word and SharePoint.
- Sales agreements may be signed and managed in Salesforce without having to leave the platform.
- Sign, send, and manage electronic signature in Google Docs tools you already use by integrating with Google.
Consider the fact that DocuSign offers pre-built connections with over 350 regularly used corporate systems and technologies, such as Salesforce, Microsoft, Oracle, Google, Slack, SAP, and others.