Documents are the lifeblood of business processes. From contracts, account plans, letters of intent, and invoices, receipts, purchase orders, and employment agreements, documents are essential to keep your business running smoothly. Since digital document transformation has become a necessity for 21st-century businesses, forward-thinking companies now prefer storing their official documents in a digital format. Presently, document-driven businesses strongly rely on powerful document management software for streamlining their document archiving process so as to keep disorganization and bottlenecks at bay.
Challenges of Manual Document Workflow Process
Though digital communication tools such as email, social media, and instant messaging are becoming increasingly popular, many businesses still prefer creating and managing documents via outmoded manual document workflow process. As a result, they end up wasting a tremendous amount of time in creating even the most routine business documents. Here are a few drawbacks of the conventional document workflow process:
- Losing Documents: Inaccuracies and delays are the common attributes of manual document workflow process.
- In case a paper document needs approval from multiple departments, it is likely to get misplaced.
- Time-consuming Process: If the paper document requires corrections or modifications, the time required in making the alteration, and completing the approval procedure, is relatively longer compared to the digital workflow process.
- Tracking Documents: Last but not least, it is not easy to track the location of paper documents in times of emergency.
The factors mentioned above prove that manual business workflows kill your productivity by preventing you from managing the more crucial aspects of your business. Therefore, to simplify and accelerate these processes, it is advisable to embrace efficient billing software Solution and eSignature technology.
Why Should You Integrate eSignatures into Your Document Management Solution?
Irrespective of the size of your business or the size of the industry it serves, eSignatures play an essential role in reducing your company’s paperwork and reducing human errors, besides boosting your productivity and helping you achieve higher ROI. eSignature platforms integrated into your digital documenting system can help you track documents seamlessly so that you can eliminate the ambiguities from your contracts.
Business process management platforms that rely on eSignatures helps streamline your business operation, besides saving your contract review time. Coalescing eSignatures with an invoicing or accounting software system can prove advantageous to your business in the following ways—
- Manage Highly Customized Workflows: Business management tools such as accounting/invoice/ document management solutions enable you to embed eSignatures in highly complex and customized workflows.
- Helps You Track Documents with Ease: Robust business management platforms combine eSignatures into your workflows which, in turn, enable you to track your official documents effortlessly in complex workflow processes. Consequently, you get to reap the benefits of advanced business process management software along with the advantages of e-signature into your business processes.
- Helps You Monitor Critical Documents: Apart from your business process management software’s document management capabilities, integration of eSignature adds the ability of the software to track your documents automatically, besides generating audit logs from the eSignature module.
- Automates Contract Generation: eSignature integration automates the process of contract generation and implementation. eSignature module not only helps you generate templates and upload paper documents but also allows you to incorporate signatures and other necessary fields to the documents so as to enable users to fill in the forms digitally. What’s more, integrating eSignature into your business management platform also enables you to add templates from your eSignature system to your processes.
- Sends Automatic Notifications: The best feature of business management software is that you can program it to send you automatic notifications so that you can get the latest information about the executed contracts. When integrated with the notification module of your eSignature platform, it not only keeps you informed about the status of your document but also the overall status of your workflow. Moreover, automatic alerts programmed in your business management platform also remind your patrons and signers as and when a contract is due, or has been executed.
- Offers Transparency: Unlike conventional documenting process that puts important business documents in the hands of one patron/party at a time, business management software offers a single management interface where all patrons and parties can submit and analyze documents any time 24/7. This significantly reduces the length of time required to complete document processing.
Only digital document workflows combined with eSignatures can help your business comply with legal documents and contracts, besides boosting traceability and accountability. Moreover, by assigning fields to individual signers, you can enhance visibility, besides identifying inaccuracies and blunders, if any. Considering the factors given above, we can conclude that streamlined document management procedures are crucial to the success of your business. Therefore, once your business adopts a digital documenting platform, integrating eSignatures is the final step for ensuring the highest level of efficiency.