A deep dive into digital efficiency with eSignatures | Trust Blog

Time and money are the most valuable resources in today's fast-paced business environment. With the increasing shift towards digital transformation, organizations constantly seek ways to streamline processes, reduce costs, and enhance efficiency. One of the most impactful tools is electronic signatures (eSignatures).

The cost of traditional signing methods 

Traditional paper-based processes are inherently slow and costly. Consider the typical steps involved in signing a document: printing, scanning, mailing, waiting for the recipient to sign, and then repeating the process to return the document. This workflow consumes a significant amount of time and incurs paper, printing, postage, and storage costs. Additionally, there is an environmental impact to consider, as paper consumption contributes to deforestation and increased carbon footprints. 

Moreover, these manual processes are prone to errors, such as missing signatures or misplaced documents, which can further delay transactions and increase costs. In regulated industries, where compliance and audit trails are critical, the risks associated with manual errors can be even more significant. 

How eSignatures streamline the process 

E-signatures eliminate the need for physical paperwork, allowing documents to be signed digitally from anywhere, at any time. This speeds up the signing process and reduces costs associated with traditional methods. Here's how eSignatures can save both time and money: 

1. Faster turnaround time: With eSignatures, documents can be signed instantly, eliminating the delays associated with printing, mailing, and waiting for physical signatures. This accelerated process is particularly beneficial in industries where time-sensitive contracts are the norm, such as real estate, finance, and legal services. 
2. Cost and carbon footprint reduction: By going paperless, organizations can significantly reduce expenses related to paper, printing, and postage. Additionally, digital storage of signed documents reduces the need for physical storage space and associated costs. A myclimate study commissioned by Swisscom Trust Services revealed that e-signatures generate only 0.001 kg of CO2 per contract, making them fifty times more environmentally sustainable than traditional paper-based signatures, which produce 0.0087 kg C02.
3. Improved accuracy and compliance: eSignatures reduces the risk of errors, such as missing signatures or incomplete forms, by guiding signatories through the process. This ensures that documents are correctly signed the first time, reducing the need for follow-up and rework. In highly regulated industries, eSignatures provide a secure and auditable trail, ensuring compliance with legal and industry standards. 
4. Enhanced security: Digital signatures provide a higher security level than traditional signatures. Each eSignature is unique and encrypted, reducing the risk of forgery or tampering. Additionally, eSignature platforms often include authentication methods, such as two-factor authentication, to verify the signatory's identity. 

Conclusion 

As businesses continue to embrace digital transformation, eSignatures are essential for improving efficiency, reducing costs, helping the environment, and enhancing security. By eliminating the need for physical paperwork, eSignatures save time and money and contribute to a more sustainable and compliant business environment.  

For organizations looking to stay competitive and agile in today's market, adopting eSignatures is an innovative and strategic move. It's not just about signing documents; it's about transforming how business is done.  

How Swisscom Trust Services can support you 

As a trusted services provider, Swisscom offers a comprehensive eSignature solution fully compliant with the eIDAS regulation in the European Union and the ZertES regulation in Switzerland. By integrating eSignatures into their processes, businesses can significantly reduce the time and costs associated with contract management. 

For example, in the banking industry, opening a new account or signing a loan agreement can be completed in minutes rather than days with eSignatures. In real estate, closing deals can happen faster, giving agents and clients a competitive edge. Even in HR departments, the onboarding process for new employees can be streamlined, ensuring that all necessary documents are signed and stored securely before the first day of work. 

To learn more about how eSignatures can benefit your organization, download the full whitepaper from Swisscom Trust Services and take the first step towards a more efficient, cost-effective, and secure future.