Keith.

Do You Have the Right Mindset for Digital Disruption?

Keith Krach
September 25, 2016
DocuSign

DocuSign’s Momentum ’16 conference brought together people from every industry to focus on a single, core idea: Imagine what you can do with DocuSign. Over the course of three days, attendees heard speeches delivered by executives from some of the world’s foremost technology companies and witnessed what the power of DocuSign can do to help further a business’ success in the digital age.

During the conference’s keynote speech, the audience heard about FTTS—Failed Transformation Traumatic Syndrome—a serious problem afflicting companies that choose not to go digital in a market where it is increasingly becoming a prerequisite to success. One of the five ingredients for combatting the effects of FTTS is having the right mindset, an important concept illustrated by Deutsche Telekom CEO Tim Hoettges during his segment of the keynote address.

In order to get into the right mindset for adapting in the digital age, company leaders need to take the following three actions:

1. Get simple by ridding yourself of paper

The first step in finding the right mindset to successfully carry you through the digital transformation process is by reducing your business’ reliance on paper-based processes. Speed is the new currency of business, and operations conducted through paper-based means significantly slow down business velocity compared with modern digital alternatives. Paper in the workplace increases the risk that documents will be lost, reduces your staff’s ability to multitask, and takes up unnecessary space in the office. This can also create more clutter and allow less space for your company to grow.

In order to put yourself in the right mindset to prevent FTTS, you should embrace the concept of paperless operations and recognize its many benefits. Not only will your company witness immediate financial gains through a reduction in the amount of time it takes your business to close transactions, but you will also benefit as a result of reduced spending on office supplies and increased levels of customer satisfaction. The DocuSign Digital Transaction Management platform makes it easy for companies to make this happen, assisting leaders in seamlessly making the switch to digital.

2. Steer your company in the right direction with momentum and quick wins

If speed is the new currency of business, then quick wins are the new objective. No longer do the dominant forces in the market today need to be huge companies in order to make the most significant impact. Rather than focus on larger companies overtaking smaller ones, the digital age is about the fast companies overtaking the slower ones, and quick wins are the outcome of being a force of speed in the digital age. Today’s consumers expect a lot from the brands that they interact with—and they expect it quickly. The sooner your company is able to deliver products or services that meet customer expectations, the more successful your company will be in today’s market. The ability to move forward quickly with the next transaction adds to your bottom line, while also creating a higher standard of service for your customers and fueling growth.

In order to help you cash in on the quick win mindset, DocuSign’s eSignature software makes it simple for even paperwork-heavy transactions between a company and customer to be completed in under an hour. Of all the documents signed and completed using DocuSign’s software by its more than 85 million users, over 62 percent of transactions conducted on the DocuSign Global Trust Network are completed in under an hour. This digitally progressive software can help your company secure the quick wins needed to keep your company moving forward in a successful direction.

3. Learn from everyone to stay on top of the competition

A third important factor in developing the right mindset to avoid FTTS is the inclination to learn as much as possible. Abandoning traditional business models and the paper-based processes that accompany them can be a daunting prospect. Business leaders who choose to avoid change and later fall victim to FTTS commonly lack a willingness to learn about the ways in which digital transformation could be made feasible. Tools such as DocuSign make the process simple through a powerful, easy-to-use API and pre-built integrations for common office technologies. However, business leaders need to be open to learning about such platforms and the solutions they can offer in order to even begin the process of transformation.

Additionally, digitally progressive leaders must be willing to learn from their consumers because their experience is at the heart of the digital transformation. Listening to customer feedback is an important aspect of digital transformation, whether it is gathered directly in the form of reviews or through more advanced means such as big data analytics. Companies inclined to learn and gather data on client behavior in response to products and services in a digital capacity are well positioned to become disruptors within their own industries. With tools like DocuSign to aid your company on the journey to digital transformation, along with the right mindset, your company could be on its way to becoming the business that your competition itself wants to learn from.

Keith Krach

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