Why Your Firm Should Take Advantage of E-Signature Solutions

There are all sorts of challenges when it comes to running a successful CPA firm. A company often must think about meeting its revenue targets, staying ahead of the competition, or figuring out the best way to scale operations once its products or services start gaining momentum in the market. Countless accounting firms use a variety of tools to help them streamline workflows, manage employees, and exceed customer service expectations.

Many firms have already taken advantage of E-signature solutions and appreciate how easy-to-use and convenient they can be. However, there are still companies that have not embraced the technology. Here are some reasons why your firm should take advantage of this simple but powerful tool.

Faster Turnaround Times and Higher Customer Satisfaction Rates

It’s a digital world and signing contracts with pen and paper just won’t cut it anymore. It takes a lot more time and money to sign contracts in person these days, and an e-signature solution can help streamline the process. There’s no need to wait days for a contract to be signed anymore.

E-signatures equal a quicker turnaround. A faster turnaround time is a lot more than just a more convenient solution: it frees up your employees to be productive in other ways and allows them to focus on other important tasks at hand. DocuSign boasts that its services can deliver a staggering 98% reduction in turnaround time, and over 50% of documents in the DocuSign Global Trust Network are signed within one hour.

E-signature solutions also offer customizable templates that help companies get their documents out quickly, and it makes the entire process much easier for the customer. Since implementing an e-signature solution software, companies report a 15% increase in customer satisfaction – according to Smart Company.

Better Security

There isn’t an organization in the world right now that shouldn’t be thinking about cybersecurity right now. A data breach can not only cost millions of dollars, but it can also lead to irreparable reputational damage. E-signature software is not only encrypted from end to end, but IRS-compliant, as well.

Platforms such as DocuSign ensure that they consistently meet the latest IRS security regulations while also providing an “audit trail” for increased transparency. DocuSign also offers 2-factor authentication as an extra layer of security for all company devices. Lastly, most e-signature solutions are “critical document security” certified, which adheres to the same security standards enforced across the financial services industry.

File Organization

Keeping your datat secure is more important than ever before, and it’s one of the reasons that companies have to think differently about how they organize their precious files. It’s simple: not finding critical files can cost your company money and reputational damage, and E-signature solutions help prevent that from ever happening.

There are all sorts of risks associated with physical documents. What if an employee accidentally leaves classified documents at an airport lounge before a business trip? What if a flood destroys documents in a satellite office, and there’s no way to retrieve that data?

E-signature software allows you to store all your client’s files securely within the platform and you can create as many folders as you’d like, for a more organized workflow.

Enhanced Productivity

We live in a world that is more connected than ever before, and business is no exception. Many organizations implement software integrations that help to manage their workflow, customer service stack, or accounting/tax preparation needs.

Industry leaders in the E-signature space offer thousands of integrations so that companies can seamlessly integrate the solution into their existing platform(s). This makes it much easier and efficient to share files, which allows for enhanced collaboration and overall productivity.

Next Steps

To get started, check with your primary software vendor to see if and what e-sign solutions they integrate with. We strongly suggest that every firm implements e-sign software into their tech stack. At Tech Guru, we’ve streamlined our own workflows by implementing it, and we can confidently say we’re never going back to pen and paper again. It makes our lives that much easier — and it’ll make yours easier, too.

Assess your firm to help establish technology priorities by taking our CPA Technology Check-up below. You’ll receive a score out of 100 to help you further understand where your firm currently stands with its technology.