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Extending Your Investment in eSignature Significantly Increases ROI

Published Date
Author Ayla Wood

 
 
 
 

By: Neal Keene, Field CTO of Smart Communications

As CIOs continue to navigate through the numerous issues introduced by the recent COVID-19 crisis, they are also facing a tremendous amount of pressure to introduce digital solutions that will support a remote environment while also increasing ROI and improving customer experience.

Over the last five years, companies have focused on modernizing and updating core systems by deploying eSignature solutions to improve internal processing. The changes to business-as-usual brought on by COVID-19 have quickly accelerated the need to digitize the document signing process, as employees work remotely and customers look to the convenience of mobile.

But electronic signature is rarely the end of the process. If you’ve purchased a house, applied for a mortgage or purchased life insurance, you know that signing the contract or agreement is just one step in a multi-step process.  Automating these processes provides an end-to-end digital experience for your customers and eliminates the hassle of completing and returning forms, resulting in reduced turnaround time, lower error rates and improved customer satisfaction.

The most successful eSignature implementations also provide the ability to engage with a user across multiple channels to improve the customer experience. A good example of digitizing an end-to-end process is the recent rollout of the Small Business Administration’s Paycheck Protection Program. Many banks deployed the government provided PDF application form for their customers to complete and eSign. Unfortunately, this led to many incomplete and incorrect applications and resulted in significant backlogs and delays.

Within 48 hours of the release of the SBA program, Smart Communications deployed an intuitive, esign-enabled digital loan application process. The adaptive interview guided customers through a simple question and answer experience across any device. Customers were able to determine eligibility quickly, attach required verifying documents and sign a completed application online. To learn more, click here.

Extending your investment and expanding your eSignature solution brings measurable benefits to both your internal processing team as well as customers and employees, including the following:

  • Gives customers an intuitive, painless data collection experience
  • Eliminates scanning of paper forms to extract data
  • Reduces the risk of incomplete and incorrect data
  • Increases employee productivity
  • Delivers more personalized customer communications
  • Speeds up time to signature with less friction

If you’ve already invested in eSignature and are looking for ways to improve ROI while providing a better experience for internal and external stakeholders, we can help! To learn how you can scale your eSignature processes with Smart Communications, contact us and one of our experienced communications experts will be in touch to discuss your current initiatives.