Digital transformation gained momentum like never before thanks to the corona pandemic. When everyone was pretty much home bound, technology came to the rescue of businesses; Zoom, Google Meet, Microsoft Meetings replaced in-person meetings; document management tools enabled collaboration on documents and digital signing solutions enabled offer letters to be sent out, invoices to be issued, contracts to be signed and what have you.
Going paperless in your business comes with significant benefits.
A) You save on paper and thereby save trees. (Yes! Every paper that you do not print helps.)
B) You save on the printing costs. This includes maintenance costs associated with the printer.
C) You save on the manual effort required. This is the most expensive component.
D) You save on physical storage and retrieval of paper documents.
E) Printouts lying around can result in a security breach. When you go paperless you can secure your documents.
Based on our experience, we have come up with these 8 tips to assist you in helping your business go paperless.
1. Integrate TRUESigner with your ERP/CRM system
It is possible to integrate our digital signature software TRUESigner into any ERP/CRM system; be it SAP or Oracle EBS or MS Navision or Salesforce or any home-grown ERP system for that matter. You can sign directly from within the system. So documents such as purchase orders and requisition slips or challans can be signed with a click of a mouse. You can easily issue digitally signed invoices too.
2. Integrate TRUESigner in your document management system
It is high time that businesses moved away from printing and storing documents. A wide variety of tools are available to store documents in the digital format on the cloud. Google Drive, Apple iCloud, Microsoft Sharepoint are a few examples. They help you to store documents in a secure and centralized place and also make your documents easy to search and retrieve. Think about it, wouldn’t it be great to take the digitization a step further and integrate signing in these systems as well so you have the entire workflow in a single place. No more opening a PDF and signing from there. You can do it right from where you are within the system.
3. Digitize your purchase approvals
If you are buying supplies/IT that ultimately helps you to do your business better, then you should have a process in place that allows for faster approvals for procurement. The traditional method of paper based approvals or all approvers getting in a room and approving is passé. Take this process online. You just define the workflow - who are the approvers and in what order will they approve. That’s it. Set the workflow in motion; approvers can view the document, sign online and voilà the approval is done. Saves time and is so convenient.
4. Take your contracts to the cloud
It is safe to put your contracts on the cloud such as AWS or Azure or Google GCP and so on. Apart from digital signing in India, you can even have automated e-stamps on your contracts making it a completely paper free process. All parties can sign the contracts electronically; a great way to do vendor agreements, user licenses and partner contracts.
5. Transform your HR processes
When one thinks of HR, one visualizes desks over flowing with paper! There are these employee letters, offers, promotion letters and what have you that this department needs to deal with. It is easily possible to completely eliminate paper from all HR workflows. Whether your HR team uses an HRMS system or generates documents manually it is possible to go to last mile digitization with TRUESigner. Imagine that you issue an offer to a candidate and the candidate accepts it by signing it online. That would save so much time and effort right? Not to mention the insights that the HR team could get with all this online data in their system.
6. Onboard your customers online
If you are running an online business, your dream situation is if you can get your customer to sign up right away before they leave your website. We all know how tough it is to get them back to sign up. If you are getting to sign contract, let them sign digitally online itself and you are all set. Client acquisition is streamlined, it’s faster and directs helps the growth of your business.
7. Get your finance team to adopt digital signatures for regulatory compliance
Get them to digitally sign invoices so that they are compliant with the e-invoicing norms in your country of operation. Tax documents can be digitized and secured with digital signatures.
8. Receive invoices in digital format only
You can also consider the documents that you receive from lets say your vendor and partners. Ask them to send those to you with digital signatures. TRUESigner’s verification engine will enable you to automatically verify them online and save them in your CRM system, thereby completely eliminating any paper handling and storage.
Hope you find the above tips useful to transition to digitally signed invoices and other documents using digital signature solutions.