"If you need a machine and don't buy it, you will find that you've already paid for it." Henry Ford.
This quote is particularly relevant to businesses today.
In an era where technology is rapidly transforming the way we work and interact with customers, failing to embrace new tools and methods can be costly.
Running a business today means dealing with many challenges that require you to keep up with the latest trends and technologies.
Whether it's keeping up with the competition, retaining customers, or improving productivity, businesses need to be constantly adapting and evolving.
One of the key ways to do this is by integrating new tools and technologies like e-signature that can make a difference in how you operate.
Why You Should Consider E-Signatures
One tool that can have a significant impact on your business is e-signatures. E-signatures are a digital way of signing documents that eliminates the need for printing and signing paper documents. This technology can streamline the signing process, improve productivity, and reduce costs. By integrating Yousign e-signature API, you can take advantage of these benefits and more.
By not improving the customer journey, you're leaving money on the table.
One of the main advantages of e-signatures is that they can easily improve your conversion rates.
This is particularly true for businesses that require customers to sign documents as part of the buying process.
The traditional method of emailing documents for signing is cumbersome and time-consuming.
It can also be frustrating for customers, who may abandon the buying process if it takes too long.
By integrating Yousign e-signature API into your system, you can simplify the signing process and improve the customer experience.
Many of our clients in the educational and energy sectors have been able to increase their conversion rates by a few points simply by using e-signatures.
Customers can read and sign contracts quickly and easily, and businesses can increase their top-line revenue almost immediately.
By increasing the conversion rate, a.k.a. the customer journey, you can immediately:
1) Increase your top-line revenue
2) Decrease your customer acquisition cost and scale more
3) Improve your brand reputation by showing that you care about your customer.
Not bad for just an optimization, uh?
Of course, if you want to offer all that, you have to choose a provider with a very robust service, or your customer journey becomes a nightmare. We at Yousign, where more than 14,000 customers placed their trust on us and we deal with more than 4 million documents per month, so for us, uptime is very important. With more than 99.95% uptime, you're in safe hands.
Manual and Complicated Processes Decrease Productivity and Increase Costs
Another significant advantage of e-signatures is that they can reduce costs and increase productivity.
For businesses that rely on paper documents and physical archives, the costs can quickly add up. Printing, storing, and managing paper documents is time-consuming and can slow down your business processes.
Integrating Yousign e-signature API into your system can streamline your processes and reduce costs. You can eliminate the need for physical archives and reduce printing costs.
More importantly, you can scale your hiring process without scaling the hiring department.
By allowing candidates to sign documents remotely, you can speed up the hiring process and avoid mistakes that could occur with manual processes.
One of our clients was able to scale their hiring process from 200 hirings in the last three years to 900 in only six months, all with the same talent acquisition team.
Forrester Research conducted a Total Economic Impact (TEI) study on the use of E-signature and found that organizations using E-signature experienced a 3-year return on investment (ROI) of 420% and saved an average of $6 per document.
The study also found that organizations saved time on document preparation, reduced errors and rework, and increased productivity.
What about the cost of integration? To be honest, integrating the wrong provider could be a mistake that could eat up part of the savings that you hoped for. That's why it's always recommendable to hire a responsive counterpart that has both great documentation and great customer service. It doesn’t seem important at the beginning, but thinking long-term, you will save a lot of hassle and a lot of money.
Security and Compliance breaches can be costly
The third major advantage of e-signatures is that they can help you avoid security and compliance risks. In many industries, legal and regulatory requirements dictate the need for signatures on documents.
Using methods like PNG signatures or no signature at all can lead to legal disputes and financial losses. By integrating Yousign e-signature API into your system, you can protect yourself against these risks. The API is designed to comply with the latest security and compliance standards, ensuring that your documents are safe and legally binding.
You can also avoid disavowal from clients and collaborators by using a secure and reliable e-signature solution. As a European certified e-signature provider, we care deeply about our GDPR compliance and we follow strict EIDAS guidelines. No matter which level of signature is required, we are very strict with data and legal requirements. Our databases are based in France and we are certified EIDAS.
No decision is, in itself, a decision
In conclusion, failing to integrate Yousign e-signature API into your system can have significant costs for your business.
You are leaving money on the table by not improving your customer experience, keeping old and outdated processes that have a cost, and decreasing your company efficiency. You may also be relying on insecure methods of signing that can lead to potential loss.
A simple integration can help you with all of that and will allow you to simply do more with less.