The phrase “cost of doing business” is used so often we forget what it means. What are the costs of doing business, your business? One such cost is signatures. Yes, the physical act of signing a piece of paper costs money, mainly in the form of the paper that your customers are signing. Do you know what your cost of doing business without eSignatures is?
Paper Isn’t Free!
Consider all the different types of documents that you send out in order to “do business”: sales contracts, change orders, field services, and employee/contractor onboarding, just to name a few. These days, there’s a good chance that those documents are sent out electronically as a PDF or secure document. But then the recipients print, sign, and send them back through the mail, FedEx, UPS, or another courier. The time it takes for you to receive the documents back and the cost of physically sending them back add to your “cost of doing business.”
Time Is Money
Then ask the question, how efficient is it to physically sign and send all these documents? What could your organization have accomplished for the customer in the time that it took to physically receive the signed documents back?
What Does A Customer Cost?
And, does the customer like waiting for their account to be updated? Customer experience has a cost as well, and a great customer experience can be the difference between loyal customers who become advocates and customers who are easily wooed away by your competitors.
A Cost of Doing Business Calculator
Paper, time, and customer experience all must be calculated into the cost of doing business. For that purpose, we’ve created an actual calculator to help you understand your cost of doing business with paper signatures versus your cost of doing business with eSignatures. The eSavings Calculator is simple and free.
The calculator answers 2 simple questions about your business:
How much you’re spending on paper-based processes per year
How much you could be saving by switching to electronic signatures