Importance of Electronic Signature in SaaS

Electronic signature technology is a SaaS growth hack that is quick, simple to adopt, and can have a significant impact with little work, even though it may not be the first thing that comes to mind.

Here are some ways that electronic signature maker is helping SaaS companies increase customer acquisition, increase productivity, lower attrition, and, ultimately, increase revenue.

Benefits of Using Electronic Signature for SAAS

Productivity

• Templates for frequently used documents, such as contracts
• Progress monitoring dashboards
• Sign in with your smartphone.

Automation

• Create clients upon contract completion
• Saving an ACH or credit card to a customer's account
• Create invoices, then handle payments.

Integration

• Create quotes with eSignatures and payment capture using Salesforce
• Google: Ask users of Google Docs and Google Drive to sign documents
• Automate payments and invoices in QuickBooks after contract signature

Embed into Software

• APIs
• Automation of processes
• Services for customization

Electronic Signature for SAAS

Due to the epidemic, many companies now use workflow automation and eSignature maker to keep in touch with their clients even when there are lockdowns. In fact, according to recent airSlate data, the number of enterprises employing eSignature has grown by 50% since the introduction of COVID-19, while individual users have climbed by 13%. And 69 percent of respondents said they would still favour eSignature over in-person signing in a post-pandemic environment.

An enterprise must examine its electronic signature use cases and determine the jurisdictional requirements for each one before using eSignature. Spending can be optimised by excluding use cases that don't require eSignatures and can be satisfied by the available efficiencies.

The following step is business process review to determine the management and workflow needs for an eSignature solution, such as if a bespoke app built via an API or a CRM integration is required for eSigning.

Finally, a corporation must evaluate software alternatives to determine which ones best fit a certain use case or uses. Prioritizing essential functionality requirements during negotiations with potential eSignature vendors helps improve pricing competitiveness. When using a mobile device, switching between windows and tabs is a complete nightmare. Sign Up 14 Day Trial

Raise Sales Conversion Rates

Without new clients, you cannot expand. Because of this, the procedure a customer must go through to sign up for your product is crucial. Simply put, if the process is too difficult or lengthy, they will give up.

Consider how irritating the process of electronic document signing might be for a client. Sending customers to a third-party eSignature service or tool from your website to sign a contract isn't ideal because they have to create an account, switch windows, and get used to a new user interface while also asking why it doesn't seem like your brand.

Decreased Churn

You need to retain clients in addition to attracting new ones to your goods.

And it's obvious that if the experience is poor, customers won't hesitate to choose a new provider when 70% of customers claim they abandon a transaction due to poor user experience.

You may remove the time-consuming and cumbersome document signing app processes for users of your digital product, making their experience quick and simple, with the eSignature API capabilities we discussed above that enhance your customer acquisition, such embedded signing.

Electronic Signature Challenges for SAAS

There may be a number of difficulties when eSignature is implemented into an organization's business procedures. Business owners must be prepared to deal with organisational inertia because switching quickly to eSignatures from employees who are accustomed to paper-based signature could be difficult. This is still a problem as 19% of firms will continue to require in-person signing even after the pandemic, per the aforementioned study.

The following are some additional difficulties with eSignature deployment:

• Questions regarding the eSignature's legality.
• Potential security and legal compliance problems.
• The cost of eSignature's implementation across departments.
• The absence of digital training and skills within the workforce.

Conclusion

In conclusion, electronic signature software is not a universally applicable solution. In fact, small-to-medium-sized firms and enterprises can find a solution to suit their needs thanks to the variety of digital signature online technologies on the market. Additionally, the pandemic-driven shift toward democratising software creation has assisted companies in replacing technologically complex solutions with low-code/no-code tools, thereby empowering citizen developers and lowering IT crew fatigue.

More businesses are increasingly opting for SaaS-based process automation and no-code eSignature solutions. SaaS-based eSignature has a variety of advantages over its on-premise competitors, including flexible deployment, no reliance on IT, vendor support, security and compliance, scalability, and more.

In order to ensure business continuity in a post-pandemic environment, firms should take into account their eSignature choices as part of a bigger digital transformation strategy.