Why businesses of all sizes and types can benefit from a move to Electronic Signatures and Electronic Documentation

document management software

Many small businesses have watched as corporations have implemented a variety of solutions for their clients such as a document sharing, document signing, and online bill payment services among others. They wrongly feel that these solutions are beyond their cost structures and technical know-how to implement. Nothing could be further from the truth as several solution providers have created highly cost effective solutions that virtually pay for themselves in increased sales due to customer retention and satisfaction as well as payment processing speed.

Even for a sole proprietorship, the physical aspects of document storage and retrieval in the paper-based world has significant costs in terms of storage and time spent in retrieval, printing, faxing and waiting for the signed documentation to be returned. Today, document management software is a relatively inexpensive proposition that allows a business to go paperless—at least internally. The implementation of the next step in terms of completing the documentation cycle through the consumer loop involves implementation of a solution that allows sharing these documents digitally and a way for consumers to provide digital signatures.

Contrary to popular opinion among small business owners, it can be relatively simple and inexpensive to purchase and integrate a mobile document sharing solution. These solutions allow the business to interface with their internal document management software and database storage to retrieve documents in template form. The service can then provide the means to share the document with end users that can access them on their digital devices such as smartphones and tablets.

Most businesses are familiar with electronic signature capture solutions. However many do not realize that not only is affordable e-signature software possible, it can be made even more affordable via solutions that integrate them with a digital document sharing service that also allows for digital document signing.

There are even solutions available that allow small businesses to affordably create an entirely paperless business consumer cycle with a bill payment service included in the integration. These solutions are not only affordable, they save the business money in terms of time, paper and storage.

In addition, the ability to make the sales completion process fast and mobile for consumers has a profound impact on customer retention and growth. The advent of affordable cloud storage for businesses further expands the simplicity of the document storage/retrieval/sharing/signing matrix.

The last two pieces of the puzzle for implementation of this software is integration with existing document as well as billing/payment systems. It is a fact that many small business owners freely admit that they are not IT savvy. Consequently, they perceive the programming language that allows them to integrate these systems is beyond their ability and cost structure.

The reality is that the most versatile of these integrated solutions have made it a simple process for almost any accomplished programmer/IT provider to easily integrate existing software solutions/databases with some of the more progressive all-in-one mobile documents, signing and bill payment solutions.

Another major benefit of implementing such a system is that it does not require acquisition of any new technology beyond the all-in-one solution software for the business. Additionally it requires acquisition or learning of any new technology on the part of the consumer.

Security concerns are always a major priority for these businesses that are handling vital consumer information. What they may not realize is that these software solution providers can only remain competitive by providing very sophisticated encryption algorithms that can flawlessly protect data from intrusion or loss throughout the transfer cycle.

The one factor that can possibly work against a small business in implementing an integrated document sharing, mobile signature and bill payment service is the necessary focus and the will. By taking the first step to engage the best of these all-in-one progressive solution providers, businesses can see the simplicity, cost savings and future possibilities with such an implementation. In fact, those businesses that wait will likely not be able to compete in a world where the paperless transaction will be imperative.