Documents drive nearly every business process. From the contracts that spell out client expectations to invoices, purchase orders, and receipts, there is a trail of records intended to ensure operations run smoothly. Most forms and documents can now be prepared and stored in a digital format, creating a streamlined approach to archiving and retrieving information. However, many organizations continue to rely on a manual document workflow. Unfortunately, the traditional manual method presents significant obstacles to accurate, efficient document processing.
The Challenges of Manual Document Workflows
Though businesses have fully adapted to the use of electronic communications tools, like instant messaging and email, many people still create and manage business documents through an outdated manual document workflow. This method requires staff members to expend the time required to draft customized versions of even the most routine documents.When these paper documents require review and/or approval from multiple parties, delays and errors are common. Signers pass physical documents back and forth throughout the office, increasing the likelihood of misplacing items. In situations where changes or corrections are necessary, the time required to complete the entire approval process manually is substantially longer as compared to more efficient digital workflows.Determining the status of approvals in complex business transactions presents a significant challenge – especially when they involve multiple stakeholders. Tracking the location of physical documents is particularly difficult, and the unexpected absence of a key stakeholder can derail the entire process. Organizations are turning to digital document workflow and e-signature technology to simplify and speed these processes.
The Benefits of Integrating E-Signatures into Your Document Workflows
Transitioning to a digital document workflow that relies on e-signatures streamlines the entire operation. Combining the ease of e-signatures with the power of dedicated Business Process Management (BPM) platforms can result in the following benefits for your document workflows:
