Document approval processes have traditionally relied on paper trails and physical signatures, both of which have made for inefficient and time-consuming processes over time. Enter electronic signatures, also called e-signatures, a modern digital solution that has revolutionized the way approvals are obtained and managed. As a digital representation of a person’s signature and consent, e-signatures are legally binding and secure, providing a digital and streamlined method of signing documents and expediting approvals.
Global electronic signature transactions have risen from 89 million to 754 million over just five years, and the market is anticipated to grow by over $35 billion by 2029. This rapid growth is due in large part to the various benefits offered by e-signatures; for example, unlike traditional approval processes, e-signatures allow for real-time approvals that don’t incur the high costs associated with printing, scanning, and shipping print documents. Furthermore, they offer flexibility for both approvers and those seeking approval, allowing for document signing from anywhere and sending for signatures at any time.
How do CCM systems utilize e-signatures?
Customer communications management (CCM) systems utilize e-signatures to automate document approval, enhance the customer experience, and ensure security. Here’s how a few specific CCM systems enhance the overall customer experience by allowing organizations to create, send, sign, and manage documents electronically:
- OpenText offers a variety of solutions for integrating e-signatures with its CCM platform, OpenText Exstream. For example, OpenText offers integrations with DocuSign, OpenText Core Signature, OpenText Core Digital Signatures, and e-Sign Live by VASCO to make digital signatures a part of everyday document workflows and business processes.
- Quadient Inspire is a comprehensive customer relationship management (CRM) platform that enables organizations to create personalized, interactive communications across various channels and scales. Its e-signature capabilities allow users to create smart forms that automatically adapt based on previous responses and generate signature-ready agreements. Quadient Inspire also offers extensive integration options with e-signature solutions like DocuSign and OneSpan Sign, so that users can efficiently oversee the e-signature process from start to finish.
- Smart Communications, a leading CCM platform, integrates with e-signature solutions like One Span Sign and DocuSign to securely sign and manage digital documents. This integration simplifies document workflows, enhances efficiency, and provides a more convenient experience for customers and internal teams. Users can send documents for signature directly from Smart Communications, streamlining the process of signing, storing, and archiving documents.
The benefits of e-signatures:
- When integrated with e-signatures, CCM systems can provide a seamless user experience. Documents can be sent for signature, and approvers can sign documents electronically—all without having to leave the CCM system.
- CCM systems help enhance security and compliance by integrating with e-signature solutions that provide audit trails, encryption, and other security features.
- With e-signature capabilities, CCM systems can improve the efficiency of approval processes by automating most manual tasks.
- Leading CCM platforms have native integrations with e-signature solutions, making it easy to incorporate e-signatures directly into communication templates and approval processes.
- CCM platforms integrated with e-signatures automatically send notifications and reminders that alert stakeholders to documents requiring their approval.
- CCM software can use e-signatures to deliver consistent communications across multiple channels, including by allowing customers to access and sign documents from any device or platform.
- CCM solutions provide centralized visibility into all customer communications, including e-signed documents, as a way to track document status and identify bottlenecks or delays.
- E-signature integrations can help businesses reduce costs associated with printing, postage, and document storage.
- E-signed documents are automatically stored within the CCM system, making them easily accessible and searchable.
- E-signing accelerates transaction cycles, allowing businesses to close deals, onboard customers, and complete agreements more swiftly.
- Reduced paper usage and document transportation allowed for a greener, more sustainable approach to business.
- With e-signature and CCM integration, documents can be signed from anywhere, enabling remote work and providing efficient service to a global customer base.
- Integrated systems can provide valuable insights into customer behavior and document engagement, allowing organizations to refine their communication strategies.
- Businesses that offer digital signatures through their CCM system have a competitive advantage when it comes to attracting tech-savvy customers and partners.
When integrated with CCM systems, e-signatures add simplicity and efficiency to the approval process by enhancing workflow efficiency, ensuring compliance, and contributing to a superior customer experience. For modern businesses striving for agility in their operations, embracing e-signatures in approval workflows is no longer just an option, but a necessity.