5 Reasons CFOs Should Be Invested In The E-signature Industry

In a cutthroat business environment, CFOs are always demanding hard numbers and statistics to justify their spending. The fact is that every spend must support the company’s goals and deliver the set-out outcomes Facing the threat of inflation, unstable currency economics, and rising costs, executives today are charged with managing expenses while enlarging revenue all the while planning for long-term growth.

Amidst all these, the need to quicken and digitize sales only increases as well as the fact that other priorities remain. In the face of cyber security threats, CFOs also must make sure that the systems charged with managing their data are secure from breaches and compliant particularly when it comes to handling sensitive information that revolves around financial performances and operational expenses like staff salaries.

Five eSignature Stats for CFOs

Less spending—and still do more: eSignature reduces hard costs by 56% on average

E-Signature users typically save between $4 (N2,800) and $10 (N7,000) and 1280 pages of paper per agreement on average. When companies switch to an electronic signature solution, one of the first benefits they realize is the vast reduction or complete removal of agreement costs. With eSignature, teams can bid farewell to the printing, scanning, courier, and postage expenses associated with paper-based and manual agreements. Instead, they can create, edit, send, and sign documents through an entirely digital and highly automated process.

The cost savings associated with the switch from paper to digital are immense and can increase exponentially as the number of agreements,number of pages, signatures required, and frequency of negotiation revisions grow. So the more the documents, the more the gains.

Boost income flows by 41% reduction in average deal closing time

An automated and digital contract process increases the pace of document approvals. For businesses with ambitious sales goals, turning around order forms and invoicing documents faster is a crucial step in increasing the number of transactions and profit margins.

With less time spent on each agreement in the sales workstream—even for documents requiring several approvals—negotiations, sales orders and growth goals can progress rapidly. eSignature automates complex routing flows, saving teams’ energy for essential tasks and ensuring contracts follow the correct approval process every time.

Improved Contract Security and Agreement: Over 70% reduction of security and compliance incidents

Ultimately, fast, cost-effective agreements are only as valuable as their security and compliance. E-Signatures automate key steps in the agreement process to ensure all information remains accurate and confidential to support compliance with industry and company standards. All eSignature solutions come with robust data encryption and validation, industry certifications, and signer authentication measures, reducing the risk of security breaches. The software can also pull and save data directly from signed forms to preserve customer information and help eliminate data entry errors.

The implications of greater contract security and compliance support go far beyond cost savings—though they do remove costs associated with security infringement and large noncompliance fines. Amid rising privacy concerns, built-in document compliance support helps save companies from facing a reputational blow and losing trust among customers, investors, and the public, especially when handling confidential client or business information as data security regulation becomes increasingly common and urgent.

Take back opportunity costs:79% of agreements are signed within 24 hours

When employees must spend hours manually creating, sending, updating, and filing documents, they lose precious time they could have spent on strategic, revenue-producing work. E-signatures recover hard costs and the opportunity cost associated with time-consuming, difficult contract and agreement workflows. Through contract templates, standardized workflows, and automated approvals and storage, Esignature allows an improvement in contract turnaround times. A simpler signing process reduces the number of time teams across the organization—including sales, HR, legal, finance, and procurement—spend on NDAs, order forms, onboarding documents, and more. With an average of 300 labor hours saved per month, employees can turn their attention to the big-picture objectives and open new growth opportunities.

Enhance Customer Experiences: Customer satisfaction increases by 70%

Improving the agreement process through eSignature not only benefits internal teams but also makes the signing process significantly more convenient for clients While managing busy workloads, the last thing customers want to do is spend time going through a taxing paper contracting process. eSignature simplifies signing by automating manual steps and enabling remote signatures from virtually anywhere and practically any device.

In an unpredictable economy, strategic investments in technology lower costs, simplify processes, and lay critical groundwork for success—enabling agile mid-recession pivots and post-recession scaling. In fact, companies that struggle to recover from economic slowdowns often do so because they fail to consider different scenarios and proactively prepare.

Though some companies may be tempted to enter “survival mode” and cut costs to the bone when budgets and margins tighten, taking steps to empower faster scaling prepares companies to hit the ground running when conditions stabilize. Strategic digital transformations can forward cost, revenue, and growth goals—easing today’s financial pressures and creating efficiencies to capitalize on tomorrow’s expansion opportunities.

An investment in Flowmono’s eSignature pays Interests.

From decreasing liabilities to preserving margins, CFOs have a lot on their plate during both economic peaks and downturns. For financial leaders looking for solutions, Flowmono is an investment that ensures growth, reduces financial strain, and leverages digital security and efficiencies. By creating a simpler, faster, and more secure contract and agreement process, eSignature helps CFOs cut costs, increase income, safeguard confidential data, and support overall flexibility—and it has the numbers to prove it.

But as the results show, investing in eSignature provides timely efficiencies essential to making it through market turmoil—and reaching new heights during stable times. Flowmono offers companies a solution to more cost-effective sales processes while supporting security, sustainability, and compliance priorities.