10 E-signature Statistics that will Blow your Mind | DrySign

From Sumerians to Egyptians, the evolutionary journey of signatures is incredible. Gone are the days when we were required to carry pen and paper to sign a document. Now we can sign any document on the go, from anywhere and anytime. For decades now, e-signatures have been helping organizations enhance and speed up their operations.

In today's competitive market, e-signature software provides a comprehensive range of benefits and features to bring convenience, efficiency, and agility to business processes. For example, e-signature solutions essentially automate document workflows, allowing you and your team players countless free hours to focus on more priority and revenue-generating tasks - so that you can focus on actual business without worrying about document security and faster paperwork. In addition, you can save a lot on physical storage, which not only accounts for an additional amount but the space and security issues.

In a nutshell, electronic signatures reach far beyond signing. And to put it into perspective, we have put together ten impressive statistics that will blow your mind and keep you abreast of what's hot in this primary software niche.

Growth

Costs

Workflow

Effective documentation

Performance

Customer experience

Increases ROI

Time savings

Turnaround time

Environment-friendly

1. Growth

The use of e-signature technology is growing at a high rate. As the need for digitization has skyrocketed in the last few years, modern businesses enter the market feeling the need to introduce digitization in their document workflows from the very start. Even legacy corporations have joined the throng going toward automation. As a result, almost every business from every industry, be it manufacturing, retail, education, healthcare, I.T., automotive, or even government organizations, is embracing digital signing.

Global electronic signature transactions have risen from 89 million to 754 million over just five years.

The global electronic signature market was valued at over four billion U.S. dollars in 2022.

The e-signature market is anticipated to grow by over 35 billion by 2029.

2. Costs

Manual signatures mean putting pen to paper and distributing copies with multiple signatures from various individuals. Sounds complicated? That is because it is. And the costs associated with this method? You wouldn't believe it.

In the Philippines, an average sized business is spending close to ₱ 84,000 in raw material, printing and scanning, storage and manpower

Organizations embracing e-signature solutions reduce document handling expenses by 85%.

Going paperless also helps organizations to save 80% on shipping costs, on average.

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3. Workflow

We know H.R. departments spend hundreds of hours recruiting and onboarding workflows, property dealers juggling rental agreements and maintenance requests, and healthcare staff swamped with patient intake forms and physician licensing. These are examples of real-life workflows that are instantly advanced with the help of e-signatures.

65% of organizations using pen and paper reported that collecting physical signatures adds an entire working day.

48% of businesses said they make three or more copies of their documents.

Research suggests that switching to e-signatures shortens the sales cycle by 400% and increases conversion rates.

4. Effective documentation

Effective documentation requires error-free data, an easy signing method, and effective document sharing and storage. Even the slightest error on a document or a signature error can take weeks or months to resolve. On the other hand, an e-signature solution allows you to digitally create your own signatures within a few minutes, with no shaky hands or signing in the wrong boxes. Moreover, you can find any document whenever you want with just a few clicks, as e-signature software allows easy cloud access where you can store all your documents.

Electronically signing a document allows companies to witness an 80% reduction in signing errors.

With the use of e-signature software, you can reduce the number of missing files by 66%.

An astounding 92% of scanning errors are wiped out once you start signing online.

Here are the answers to some of the most common Digital Signature FAQs : https://bit.ly/463IGjR

5. Performance

E-signature solution helps streamline your business processes, allowing users to focus more on priority tasks, improving their performance. The very definition of automation is to eliminate menial, time-consuming tasks, such as printing, document sharing, getting documents signed, and scanning. And e-signature solutions are star performers when it comes to performance and efficiency.

Companies embracing electronic signatures show an 85% improvement in performance.

After eliminating manual processes and adopting digital technologies, such as digital signature solutions, businesses can witness 70-80% improvements in efficiency.

A study shows an average of 15 days faster contract turnaround time and 37 percent improvement in productivity with eSignatures

Read More Details “Ten e-signature statistics that will help your business grow!” : https://bit.ly/3qCZ2Qd

DrySign e-signatures to make you stand out!

DrySign, one of the leading e-signature solutions, provides the best-in-class features and a wide array of benefits to keep your business ahead of the curve, helping you stand out in today's corporate crowd. However, it has far more to offer than just the convenience of electronic signing. DrySign complies with different e-signature laws and regulations Sec. 5(e) Electronic Commerce Act (Republic Act No 8792) to integrate end-to-end legitimacy in your documentation. Here's everything you should know about compliance and certifications of DrySign.

Compliances and Certifications | DrySign: https://bit.ly/3p5mhSM

Conclusion

Amidst the conversations of paperless offices, e-signatures have been helping organizations streamline their processes for decades now. But e-signatures have far more to offer than just the convenience of electronic signing. The above-listed e-signature statistics must have given you an idea of how e-signatures can benefit businesses. DrySign, one of the leading e-signature platforms, provides a wide array of benefits to help simplify business operations. Start DrySigning now!

Use DrySign e-signatures to achieve your goals! Try the DrySign Free Version to get started! https://bit.ly/461O332

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