Return to blog
Questions you should ask yourself before selecting an e-signature solution
Adopting and implementing electronic signatures to increase the efficiency and profitability of your business is a significant step. Implementing eSignatures is very much like implementing a new CRM: your entire business process will change. There are many reasons to transition from wet, blue ink to electronic signatures, and every organization’s primary and compelling reason will be slightly different. However, the most common drivers for making such a change to any organization are cost, security, and customer experience.
Not all industries are the same. Your business is different than other businesses; so, you need a stress-free solution that can be customized to all your unique business needs. There are a lot of signing solutions available, but they don’t all provide the same features or flexibility. The right eSignature platform makes your transactions easier while improving the document security and improved output. MSB Docs is a powerful, digital, end-to-end solution used to sign your documents electronically with ease while saving time, money and efforts. MSB’s faster adoption rate in providing better value, and advanced features, is tailored to your specific business needs.
How Do Other Organizations Use eSignature?
Innovation has always created ripples amongst innovators–who always strive for excellence. These same people don’t simply wait for others to find a solution to an existing problem; rather, they take responsibility for ingenuity onto their shoulders.
Electronic signatures are no exception. Since Whitfield Diffie and Martin Hellman theorized the Idea Digital signature scheme in 1976, electronic signature has never stopped evolving. With the adoption of laws such as the ESIGN Act in 2000, legal admissibility in the court of law has helped many organizations foster this digital change.
But what does that mean for you? Firstly, going paperless with MSB eliminates needless, repetitive printing. It’s good for the planet and business: you save paper, ink, and money. Not to mention companies who opt for digital solutions end up reducing a whopping 90% of processing errors.
Below are six of the most popular use cases for electronic signatures and the gains or improvements earned by the transition to eSignatures.
Easy Approvals (Internal Communication)
Electronic signatures make the approval process simpler and quicker. There are many layers of the approval process that go into signing the documents, closing deals and other contracts. Electronic signatures not only speed up the approval process but also ensure the smooth signing experience of employees as well as other stakeholders by letting them quickly sign the letters, agreements, policies, appraisal forms, NDA’s, Form 16 and many more; making eSignatures part of your existing workflow processes already.
Faster Onboarding (Employee)
Electronic signatures aim to improve the recruiting workflows by helping new employees quickly onboard by signing the joining letter. The time spent on paperwork and signing isn’t solely in the hands of the potential employer. There are layers of approvals which are internally required to finalize the new hire. The traditional process is not only inefficient but also time-consuming and expensive. This process that could take weeks can be reduced to just a day or two with an electronic signature solution.
Faster Deal Closing (Sales Contracts/Agreements)
Whether signing residential or commercial lease agreements, sales, and purchase agreements, or any other management documentation, electronic signatures can shorten the process. eSignatures close deals faster, reducing procedures from days to just minutes. This also helps in long term storage archival.
Increased Customer Satisfaction (Patient Onboarding)
Electronic signatures enable high standards of care to your new patients, giving them the paperless patient experience, complete with improved care and healthy relationship building. eSignature processes save lives by letting patients quickly digitally sign forms, thus saving critical time and giving them an enhanced patient experience.
Simplified Operations (Remote Signing – Clinical Trials)
eSignatures streamline the workflow process and daily operational tasks while lowering costs and time. eSignatures ensure transactions are secure, legal and tamper-proof. This digital signing process not only results in significant savings but also enables chemists/scientists to spend more time on their experiments and less time chasing paper.
Four points to be considered before selecting an eSignature Provider
Deployment Options
- Cloud: Moving to the cloud is one of the best practices in today’s world. Adoption of cloud services has increased exponentially in the last five years, and for a good reason. SME’s in their early stages find cloud solutions very lucrative, as it offers both agility and easier breakeven points.
- On Premise: Heavily regulated industries like pharma and healthcare have stringent compliance needs. To meet those needs, this software is deployed on site in physical servers.
- Hybrid: Large businesses have long supply chains. Parts of their business may be subject to regulatory compliance while others may not. So, a hybrid solution that offers both cloud and on-premise fulfills the business needs effectively.
Features
- Complex workflows: Various businesses have varied approval processes, from single signing to many back and forth round trips. Look for a solution that can make accountant life simplified.
- Bulk operations: Whether rolling out an NDA to your employees or collecting signatures on internal policy, save your employees from the tedious experience of having to print, sign and scan documents.
- Authentication Mechanisms: Security of your information should be your utmost priority. Your authentication wall is the first line of defense against cyber-attacks, and it needs to be secured at all costs. To this end, there are many 2FA mechanisms offered in the industry today.
Pricing:
- User based: Every business is different. For organizations with few users/accounts sending indefinite monthly transactions to others, this is a reliable option for your business.
- Transaction based: This is a good fit for you if your business has an indefinite number of users with only a few transactions per month.
- Monthly/Annually: Monthly or annual plans help you try the proof of concept. Large sized organizations also look for customized price options.
Integrations
- Direct API: The right digital signature solution needs to be able to seamlessly integrate with the electronic content/document management and workflow automation system you are currently using.
- SOAP and REST: These are protocol and architectural structures on which web services are designed. Any web service built on these platforms offers ease of integration and assistance to service interactions.
What makes MSB Stand out from the rest?
Considering all the essential differences between signature solutions, we have examined the unique features of MSB. Here’s why it’s a better option for your business.
Considering all the essential differences between signature solutions, we have examined the unique features of MSB. Here’s why it’s a better option for your business.
Team Room Feature
Team Room is our collaboration tool, where members of the Team Room can preview, download, lock, complete, self-sign and perform other actions on documents. It is a team-based feature designed to facilitate a group of users to plan, track, and collaborate in a central, consolidated view. This allows multiple users to come together in real time or work offline to draft, view, share and sign documents, helping businesses to deliver faster and making it easier for everyone.
The role assigned to users while adding them to the team room determines what actions they can perform. It also affects the visibility and access that users have into other users’ documents. The four types of roles in the Team Room are Administrator, Editor, Submitter, and Signer.
Hybrid Solution
MSB Docs gives you the choice of easy deployment with a hybrid solution and seamless integrations with existing APIs like Fresh works, SAP, and Samsung.
Fully Customizable
You’re likely to get any eSignature software plugged into your CRM, accounting software, Google Drive, Dropbox or SharePoint, and to a variety of other tools. However, MSB Docs values connectivity and handles all customized integrations so that you don’t have to switch back and forth to your CRM, or automatically store your document in your cloud storage app.
Competitive Pricing
MSB Docs is uniquely positioned to offer flexible pricing and custom plans to its customers. Whether you’re running a large enterprise or more intimate organization, MSB has a price plan tailored to fit your needs and budget.
24/7 Customer Support
MSB clients get the best customer support possible. We focus on delivering personalized service to our customers; giving them a seamless and stress-free experience. Team MSB boasts flexibility and knowledge to perform various smart document management practices by keeping track of all tickets on the ticketing platform, offering clients the preferred mode of communication and faster resolutions.
Smart Document Process
MSB Docs streamlines all your document collaboration and document related hassles by optimizing the entire document life cycle, from preparing to signing, enacting and managing. This provides end to end transformation of the documentation process as a whole. All your documents can be electronically signed, tracked and managed with the highest industry-regulated compliance and security standards. You can sign from anywhere, anytime, from virtually any device. These smart document processes can help you to work more efficiently by saving time and money exempting from the manual method.
Visit our Product page to understand more about how to digitize and automate your company processes.
Contact us today to learn more and to schedule a demo with one of our solution experts.