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eSignature
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September 14th, 2023
10 Surprising Stats about eSignatures (2023 Updated)
The world of e-signatures reaches far beyond signing. To put it into perspective, here are ten interesting statistics that might surprise you.
Growth
- Use of e-signatures is growing. Fast. Global eSignature transactions have increased from 198 million to 4,754 million over just five years.
- It doesn’t stop there. eSignatures are expected to grow 69% more by 2024.
- According to these figures, this means the e-signature market will hit $18,473.1 million by 2026.
Costs
- US businesses waste $8 billion a year just on managing paper.
- Companies that adopt e-signature solutions reduce document handling expenses by a whopping 85%.
- Companies also save 80% on shipping costs when they go paperless, on average.
Workflow
- 65% of companies using pen and paper report collecting physical signatures add an entire day to their work process.
- 41% of companies require signatures on more than half of their documents, printing more than half of their papers to get them signed.
- 48% of these businesses make three or more copies of their documents.
- However, companies that go paperless reduce 90% of their processing errors on average
Much like these statistics, the benefits of e-signatures include more than the signing process itself. From cutting costs to increase workflow and data security, digitizing documents ranks far superior to traditional pen and paper.
Contact us today to learn more and to schedule a demo with one of our solution experts.