Small- to medium-sized business have a unique set of challenges that their larger counterparts do not face. This is especially true in the age of digital transformation, when implementing new technology and adopting modern business practices can cause disruption and cash flow shortages that many SMBs do not have the resources to sustain.
Luckily, DocuSign offers innovative, easily integrated Digital Transaction Management services that can help SMBs seamlessly transform their paper operations into a more effective, digitized process. Here are four ways that DocuSign products can be an effective starting point for SMB digital transformation.
1. Money management through reduced operational costs
With the availability of digital alternatives on the market today, relying primarily on paper-based operations in business is quickly becoming an outdated practice. In a traditional office, an individual worker may use up to 10,000 sheets of paper annually, which adds up with each person a company employs.
In addition to the cost of paper, ink, and printer maintenance, an SMB must store many of these documents. Proper document storage requires large filing cabinets, diminishing the amount of space available in your office for future expansion. This can require an investment in larger office space at a higher rent. Additionally, studies show that employees who work in paper-based business operations may spend over 4 hours every week looking for documents, cutting into productivity and creating distractions for their co-workers.
Using DocuSign for all of your Digital Transaction Management needs can help you cut costs by reducing the amount of money your firm spends on office supplies and storage. Sending documents to be signed in a digital format can also help you cut back on mailing fees and time spent traveling to mail centers. Additionally, the extra protection afforded by DocuSign’s authentication and encryption methods, and tamper-proof seals can protect your firm against any expenses incurred in instances of fraud or theft of sensitive information.
2. Increases business flexibility to allow for growth
SMB leaders often find themselves stretching their resources in order to get things accomplished, which means they are on the go much of the time. When SMB executives are out of the office—whether they are attending lunch meetings with potential clients or traveling to meet partners—operations can come to a standstill. As a result, this can limit the speed of business and become a barrier to exponential growth.
The use of DocuSign’s Digital Transaction Management platform allows SMB leaders to run their companies from anywhere in the world on any device. The ability to access documents and give a signature for approval on important forms while one is out of the office can increase the speed at which you do business, and in the digital age, speed is new the currency.
Through DocuSign, you can also observe the progress of documents that you dispatch to your clients or partners. The program permits you to monitor the status of who has signed off on a document and send out signature reminders for those who need to be prompted. This kind of flexibility is priceless for any business looking to expand its operations.
3. Promotes efficiency by streamlining reoccurring processes
Weekly reports and other documents sent to multiple parties for approval can take up fewer hours every week for small business employees using DocuSign templates. Instead of arranging the same recipient roles and information fields within a document each week, DocuSign clients can construct a template for any reoccurring forms, streamlining the process to increase efficiency. At the same time, a template can be edited to reflect one-time changes in a document’s structure.
The ability to add multiple varieties of Stick-eTabs to any template or a singular document can be a useful way to quickly explain to signers what each document requires of them, clearly indicating where they should initial, sign, or provide additional information. Like the templates, Stick-eTabs can be preprogrammed with information for actions that are repeatedly required of signers using DocuSign software.
SMBs that enhance their operations with DocuSign find that the more efficient an employee workflow is, then the more time employees have to dedicate to more critical aspects of business operations.
4. More time to focus on business areas that need your attention
One resource that SMBs can never have enough of is time. Maintaining a well-rounded staff with a conservative number of employees is cost-efficient for a company that is trying to propel its growth, but it may mean there are fewer employees with time to dedicate to the integration of new technology platforms into existing operations.
In order to make it as simple as possible for clients to incorporate legally viable signatures into digital documents, applications, and services, DocuSign technology utilizes an effective and user-friendly API. Comprehensive directions and a simple design make it easy for DocuSign users to insert signature requests, track the progress of documents, and authenticate signatures from multiple parties within their own software.
In addition, DocuSign is already programmed to work directly with the services and applications of some of the business sector’s most popular companies, including Microsoft, Google, Salesforce, and Apple.