About E-Signatures You Need to Know

Astragraphia Document Solution – Entering the COVID-19 pandemic period, various global companies have adopted electronic signatures to support ease of operational activities. Forbes noted that the use of digital signatures increased by 50%, which shows the transformation of consumer demands towards digital (1). In addition, 69% of respondents prefer signing using a digital signature rather than a wet (physical) signature (2). These customer preferences should not be ignored.

Overall, all business decisions made by each department must be aligned with the organization's goals. To achieve this, there needs to be good communication and collaboration between each business function. Collaborate and get approval from cross-functional teams easily with e-signature solutions. If you want to implement a digital signature (e-Signature) for your company, here are statistical trends in various business functions provided by Astragraphia principal, FUJIFILM Business Innovation to help you make better and more comprehensive business decisions.

Key Digital Signature Statistics (3) and Benefits in Various Business Functions

Strategic Planning

Statistical research shows that strategic planning is as follows:

• 28% of respondents consider digital signatures useful in increasing business time effectiveness and revenue.

• Apart from that, 75% of respondents also think that electronic signatures create convenience for organizations and the businesses they run.

• Two-thirds of businesses currently using e-signatures have only adopted them in the last two years.

• Current e-signature users (83%) report increased security as the most common benefit of this technology.

Facility

• Increased security is the most significant consideration for organizations using electronic signatures.

• In terms of facilities, electronic signatures increase the effectiveness of business request processing times, from 3 days to 2 hours.

Finance

• From 440 financial professionals, 48% reported spending significantly less time sending documents (with an average time savings of 32%) and half of banking and lending professionals experienced faster loan document turnaround times.

• Post-e-signature implementation, 44% of e-signature users in financial services reported improvements in security, confidentiality, and compliance, with an average improvement rate of 19%.

IT Operations

• 47% of organizations (non-profits) surveyed use e-signatures to improve data privacy & security, 44% use them to improve staff experience, and 39% use them to increase the visibility of signing status.

• By implementing electronic signatures, 67% of surveyed respondents benefit from increased efficiency, 65% from increased time savings, 60% find it easier to fill documents with data, 60% find it easier to work within other systems, 57% found data flow between tools securely and 51% observed a reduction in errors.

• 61% of survey respondents who do not currently use electronic signatures admitted that using them is faster than manual signatures.

Legal & Compliances

• At 32% of companies surveyed, legal & compliance teams are often the first to use electronic signatures.

• 57% of survey respondents who currently use e-signatures have integrated e-signatures with compliance technology.

Procurement

• The procurement aspect also shows the effectiveness of electronic signatures, where delivery costs can be saved an average of SGD 50 for each business agreement. Additionally, in the product management aspect, there was a 58% improvement in customer experience.

Sales Marketing

• 62% of sales departments and 57% of marketing departments use digital documentation tools, including file sharing and e-signatures.

• With electronic signatures, 82% of agreements can be completed in less than a day, and 50% in less than 15 minutes.

Digital Signatures for Every Business

Astragraphia is the Exclusive Distributor of FUJIFILM Business Innovation in Indonesia and is ready to support your business processes by switching to digital signatures.

To get further information, you can contact Halo Astragraphia at 1500-345 or the nearest Astragraphia Business Consultant Team in your area.

Source:

• Adapted from the FUJIFILM Business Innovation Asia Pacific website, https://www.fujifilm.com/fbsg/en/insights/article/top-e-signature-business-statistics-you-need-to-know

• (1), (2) https://www.forbes.com/sites/forbestechcouncil/2021/07/28/what-to-know-about-the-growing-electronic-signature-market/?sh=69ac0fb63b90

• (3) Statistics sourced from DocuSign and Statista