Electronic Signature is seen as a critical enabler for the transition to Digital Business. In this IDC Analyst Brief – Electronic Signature, we are looking at the market activities in European companies and highlight some impressive numbers. During the pandemic of COIVID-19 digital transformation found its new high. The electronic signature is one of the most crucial elements which can enable a quick ROI (return on investment) and lower your TCO (total cost of ownership) quickly.
IDC and Adobe worked together to review how European businesses enhance their business with the digital transformation and enable digital business processes that help organizations to move more into the digital world. The findings have been clear, e-signatures help to accelerate digital transformation.
Adobe Sign is a cloud-based, enterprise-class e-signature service that replaces paper and ink signature processes with fully automated electronic signature workflows. You can use it to easily send, sign, track and manage signature processes using a browser or mobile device.
According to a recent IDC Analyst Brief, e-signatures are fast becoming a critical enabler for businesses to achieve digital transformation. See our infographic to see how e signature solutions are benefitting businesses across Europe.
Read more in the infographic below.
1. European businesses plan to increase investment in digital processes.
The numbers are telling us the truth, digital transformation has reached a new high level of attention across all industries.
- 60% of European companies will accelerate the development of digital processes to improve customer communication.
- 50% of European companies plan to increase investment in cloud-based tools, including digital approval for remote workers.
- A fifth of organizations plans to invest in e-signature software as part of their digital process development.
Spending on e-signature technology will grow by a compound annual growth rate of more than 20% over the next five years.
2. Investment in digital solutions improves productivity and customer experience.
- 22% of European workflows are fully digital and automated – this is set to increase to 32% in the next two years.
- Long-term IT investment should include digital solutions for workflow/task automation to improve productivity.
Industry-leading organizations have rapidly accelerated their strategic vision to support a digital customer experience using e-signature solutions
3. How businesses are benefitting from switching to digital processes.
The average time it takes one global bank to circulate and approve procurements has gone from two to three days to minutes with a paperless process.
In one government agency that has switched to digital document processes, the number of transactions processed per week has dramatically increased from 2,000 to 5,000.
One service provider implemented an e-signature digital workflow to reduce the need for filling out and signing paper contracts face-to-face. Their process used to take an average of two to three weeks. Now it only takes 12 minutes.
4. How businesses are benefitting from switching to digital processes.
- More than two-thirds of European companies’ workforces were located predominantly from home during 2020.
- Two-thirds of these companies intend to retain working- from-home policies.
- 20% of companies identified the challenge of having no system for automated approvals and no way of securing electronic signatures.
Employees who experience the ease and power of digital tools will not want to go back to inefficient, paper-heavy processes.
Businesses looking for a quick win will find that e-signature solutions (Adobe Sign) can provide many cost-effective productivity improvements.
The findings in this IDC Analyst Brief – Electronic Signature speak on its own. Digital transformation in business processes is bringing the biggest advantages when it comes to a paperless office and staying safe during a pandemic of COVID-19. E-Signature (Digital Signature) with Adobe Sign helped many organizations in 2020 to move towards a safe and paperless environment. The complete Adobe Sign solution offers a complete solution that is also acknowledged to be legal in many countries.
Also in the Middle East Skillz Middle East could help many companies to move towards digital signature with a fully integrated approach into core business solutions like Salesforce, MS Dynamics, and SAP. Win big and contact today Skillz Middle East team to implement Adobe Sign.