Paperwork can be time consuming and costly; the digital route is faster and more convenient.
In this era of digital disruption, paper is being edged out as more companies look towards digitising their workflows. After all, paperwork can be time consuming and costly. Going the digital route makes the process more efficient and helps companies to cut costs. They can spend this time on more productive work.
However, there is one concern: security.
While the digital age ushers in better productivity and efficiency, it does not come without disadvantages. If leaders do not ensure fortified digital security, they leave themselves vulnerable to attacks. This is especially important in today’s digital era, as potential threats may result in companies taking big hits financially, which may be nearly impossible to recover from.
Security Matters
Solution providers, such as DocuSign, help to ensure that companies do not fall victim to cyber attacks. DocuSign, first established in 2003, offers clients its eSignature solution. It automates the paper-based agreement process, which can be inefficient and expensive. The eSignature allows users to reduce costs and eradicate errors.
Most companies are reluctant to make the switch to digital as they are more comfortable with paper.
DocuSign’s general counsel, Reggie Davis, said in an interview published on the company website: “Paper has been around for thousands of years and its widespread use for writing stretches back to the third century. When you think about an incumbent in a category, there is probably none more entrenched than paper.
“While the comfort level with paper is high, especially in the legal profession, digital is far superior as it is easier, faster, more convenient and secure for lawyers and their clients. So much so that we are seeing mass migration starting to happen across the industry.”
Others also do not trust digital means due to risks. In the article, Mr Davis said that clients often question whether their data is protected, private and if they have reliable access to their data.
Mr Davis said: “When people feel comfortable that their data is safe, truly private, and always available for their use, then they are more open to all the great benefits of going digital such as a better user experience and a faster, easier, more convenient way to do business.”
Going Digital
As society advances, processes are increasingly being digitised. It is imperative that companies take steps to automate their processes, or they would be left behind.
Though this transition may seem difficult, it is made easier as most people are proficient in using technology.
Mr Davis said: “I think people inherently understand the great experience and efficiency benefits because their personal lives are generally immersed in digital. They use apps (not maps) when they drive around town, they bank online, and certainly communicate via email and social channels instead of traditional postal mail.”
Organisations such as DocuSign allow users to place data in tamper-evident containers. DocuSign also offers advanced tamper-sealing, which reassures users that information is well-protected.
Going digital also allows users to track the transaction. With DocuSign, the company provides an audit trail. This allows clients to see the timestamp, IP addresses and other details. The company also offers protection, including different forms of authentication.
Thus, companies like DocuSign play a crucial role in ensuring that data remains well-protected in today’s digital age.
As Mr Davis said: “Our role is to be great stewards of sensitive data and provide a superior service, so that trust increases and rapid digital adoption continues. We focus on enhancing trust in many ways … through our core product features and capabilities, to the way that we communicate with customers and partners, to our participation in raising the quality bar for digital transaction management alongside other trusted brands contributing to the xDTM Standard Association.”
(The xDTM Standard Association is a non-profit association consisting of 300 companies and government entities, one of which is DocuSign. The association was formed to generate and manage standards related to digital transaction management.)
(Source: Singapore Business Times)
