Keith.

5 Major Industries That Benefit from DocuSign Technology in a Big Way

Keith Krach
June 27, 2016
DocuSign

To date, DocuSign has earned the business of over 85 million people. DocuSign’s Digital Transaction Management technology, which is simple to use and easy to integrate into existing systems, has provided businesses with an alternative for four traditional business processes, including printing, scanning, faxing, and rush-delivery for signed documents.

Image via DocuSign

With more than 225,000 companies using DocuSign to conduct daily operations, the Digital Transaction Management tools can have a big impact on companies across many industries, including the following five major sectors of global business.

Finance

Firms within the finance industry tend remain at the forefront of business practices and technologies because their companies are built on maintaining trusted relationships with clients. Clients tend to only trust companies that offer the best services available to manage their finances. In order to gain this trust, companies in the finance industry need to modernize and present customers with viable proof of financial security.

Through DocuSign’s eSignature services, businesses in the finance industry can accelerate the process of completing paperwork for loan agreements, opening bank accounts, and fund management terms. DocuSign’s platform also allows the clients of banks and other wealth management firms the freedom to work with their representatives from any location, which increases convenience by reducing the need for clients to travel to a physical location in order to manage their finances.

Health Care

One of the most common complaints that physicians have about the modern medical system is that it requires that they devote too much of their time to completing paperwork. According to a 2014 study, the average physician in the United States spends just over 16 percent of his or her time each day filling out administrative forms and documents. The time spent completing these forms could be used to see more patients, which is becoming a larger issue with each new class of residents. One study from 2010 found that medical interns were only able to spend about 8 minutes of face time with each patient every day due to the many hours required to fill out paperwork.

DocuSign provides the health care industry with a simple way to manage documents and transactions digitally. Providing secure Digital Transaction Management services that are HIPAA compliant, DocuSign can help medical professionals streamline their paperwork processes, creating standard digital forms that are quicker to fill out and easier to pull up on any device, as needed. Additionally, DocuSign’s platform can be used to help doctors disseminate approvals for medical orders more easily, improve patients’ access to records, and refill prescription.

Government

The validity of electronic signatures in the United States was established by the approval of the Uniform Electronic Transactions Act (UETA) in 1999 and the Electronic Signatures in Global and National Commerce Act (ESIGN) in 2001. Together, these acts form the basis of the argument that electronic signatures are still binding and enforceable in spite of the fact that no hard copy exists. However, certain methods of eSignature carry more weight and viability than others. Documents that contain sensitive information or that are a part of high-value, confidential transactions may require higher standards of authentication. Thus, DocuSign offers a broad range of advanced authentication options.

Government agencies, ranging from the local to the international level, trust DocuSign to accommodate the complex security needs of political institutions worldwide. The DocuSign eSignature platform increases workflow, allowing government officials to review and approve documents with greater speed, which means more satisfied constituents. The platform is also available in over 40 languages, making it easier to collaborate with international representatives.

DocuSign’s Digital Transaction Management platform is an industry-leading technology that meets the rigorous security standards that the government has set in the areas of eSignatures, data storage and privacy, and payment security.

Nonprofit 

The purpose of charitable nonprofit organizations is to improve the interests of the broader public, which means its work must reach as many people as possible. The most significant challenge facing nonprofits is a shortage of resources. A lack of funding often inhibits the growth of charitable initiatives, yet communities in need continue to grow with the global population at an exponential rate.

Using DocuSign can help nonprofits extend their available resources just a little further, simplifying office processes and freeing up more time for employees to perform other tasks that directly contribute to the cause. Reduced administrative costs resulting from paperless operations can mean lower office supply expenses and a more advanced and faster way for people to pledge donations on any device. Grant applications and gift agreements can be approved within minutes. Volunteer forms and liability waivers can be completed online so members can show up to a project ready to devote their time to hands-on work instead of paperwork.

In order to demonstrate its commitment to corporate responsibility, DocuSign also offers a discount on its Digital Transaction Management platform to qualifying nonprofit organizations through its program DocuSign Impact.

‍Image via DocuSign

Legal 

Working within the confines of the justice system, legal professionals need a product that will meet high security standards and that will be lawfully admissible in court. Firms of any size can use DocuSign’s signature solutions to make case management more convenient for clients and more efficient for attorneys. Documents such as power of attorney statements, confidentiality agreements, and employment contracts can easily be signed and completed through a clean and easy-to-use interface.

Keith Krach

Keith Krach is Chairman of DocuSign, The Global Standard for Digital Transaction Management.