The COVID-19 pandemic has upended our way of life and the acceleration of the digital transformation of companies is one of the most extraordinary aspects. A change that would have taken years it was done in a few months, but a lot more still needs to be done. The use of electronic signatures has also multiplied due to the pandemic and the new way of working that companies have adopted.
DT Index by Dell Technologies 8 in 10 organizations fast-tracked some part of their digital transformation, and 79% are reinventing their business model.
On the other hand, according to biton.es, 6 out of 10 countries in the world already use electronic signatures, and it is expected that the use of electronic signatures will continue to increase.
Finally, we must highlight that at Click & Sign we have observed a considerable increase in the use of electronic signatures in 2020, especially between April and in June and September. If we compare the data for June 2019 and June 2020, there was an increase of 598.81% and if we compare December 2020 with December 2021, the increase is 609.44%. The figures are eloquent, the electronic signature is already part of the daily life of many companies
Departments embracing electronic signature during the pandemic
Due to the COVID-19 pandemic, many companies were forced to close their work centres and implement remote working, this meant to undertake major digital transformation efforts for those companies that were unprepared to make the switch. The use of the electronic signature has been crucial for many departments. Here are some examples:
- Human resources departments. Departments required to carry out many procedures that involve signing documents: payroll, employment contracts, payoffs, hiring, etc. All these procedures have been possible thanks to the use of electronic signature.
- The sales department also benefit the most from electronic signatures. Contracts with clients can be signed easily with an electronic signature that allows the company to start billing earlier and the client to enjoy the contracted service faster.
- The legal department has also had to use the electronic signature to sign contracts, commercial and labour documents, communications, etc.
- The purchasing department also needs the electronic signature to sign estimates and agreements with products and services providers.
- Company managers must sign a lot of documents every day, so to facilitate the process and save time, electronic signature is the right answer.
- In finance departments, daily procedures are carried out with invoices, payments, estimates and other types of documents that need to be signed. The electronic signature offer guarantee since it is legally valid and secure.
What benefits have brought the use of electronic signature throughout the pandemic?
The challenge for companies during the lockdown was to continue with their activity, this meant that the electronic signature was adopted to obtain certain benefits such as:
- To ensure that the processes continued as before, although the way to go was modified. For example, before the lockdown when signing an employment contract the signature of a physical document was managed by the employee and the employer, but the process was modified so that the signature could be done digitally.
- To speed up processes. The electronic signature not only helps to ensure that processes are not disrupted, but also to be faster, therefore enhancing customer and employee satisfaction. Signing a document from anywhere, at any time and on any device.
- Facilitate remote working. Many companies had so far not considered the possibility of sending employees home to work, but remote working is no longer an option, it has become a necessity, they have had to adapt so that virtual meetings can be held, documents can be easily accessed in the cloud, documents are signed., in short, keep working.
- Boost innovation. Companies operate in markets with increasing competition and technological innovation allows them to compete on equal terms and even overtake other companies. Adopting technologies that empower companies can help them increase their market share.
- Streamline validations. In companies, many purchases or contracts must be validated with the signature of a manager and with the electronic signature, the validations are faster preventing unnecessary delays.
As you have seen, the COVID-19 pandemic has changed the way we work and has shown that digitization is not only possible, but also necessary since it offers multiple benefits. The electronic signature is a pillar of the digital transformation of companies and a key tool in the daily management of any organization.