5 Telltale Signs It’s Time To Switch E‑Signature Providers
E‑Signatures have become the norm to help organizations remain competitive and keep business moving in today’s remote environment. Since being legally recognized by landmark laws such as the ESIGN Act in the US and eIDAS in the EU, organizations of all sizes have realized the benefits that an e‑signature platform has to offer. Improvements in efficiency and productivity, cost reductions related to paper-based processes, and meeting customer expectations are some of the drivers that have propelled e‑signatures to be one of the fastest growing markets in the world.
Over time, the e‑signature market has matured and many new vendors have entered the space. As you assess your current and future e‑signature needs, you should take stock of your technology investments and ask questions like:
- Are there overlapping and redundant solutions in use across my organization?
- Are we paying above-market rates for our e‑signature solution?
- Does our current solution meet our e‑signature adoption targets?
- Can our current e‑signature implementation scale for the future growth of our business (i.e., across channels and geographies)?
In this blog, we will help you answer these questions by reviewing the telltale signs when it may be time to look for an e‑signature alternative.
1. You’re being overcharged for your e‑signature implementation
Cross-selling and upselling has its place in a vendor-customer relationship, especially when it comes to new features and services that will improve e‑signature processes. But, there’s a fine line between adding value and squeezing more money out of a long-time customer. The relationship you have with your e‑signature vendor should never feel exploitative. It should be a mutually beneficial partnership. Many organizations may not realize they are overcharged. We recommend that organizations conduct their due diligence during the contract renewal period to ensure the agreement meets the needs of both parties.
If your provider is charging extra for standard features and functionality, an exorbitant amount per transaction/envelope, or if you’ve experienced a dramatic price hike with unexplained fees and charges at contract renewal time, it may be time to weigh your options and consider switching to a new e‑signature provider that provides fair pricing.
2. Your vendor provides little or no support
Reliable customer support is essential to ensure your e‑signature solution continues to function. A lot of vendors promise exceptional customer experience, but many fail to deliver. Whether receiving incompetent support, poor service quality, enduring long response times, or just an overall poor customer experience – working with a vendor with poor customer support ultimately impacts your own customer experience.
Periodically, we recommend surveying the internal users of the solution at your organization. Ask them to rate the level of service they are receiving and whether they feel the solution provider is responsive to their needs. This will provide a clearer picture of the support services provided by your vendor and a better sense of your team's opinions on the solution.
If your current vendor is not providing the customer support you need, it’s time to explore new vendors that will contribute to the success of your e‑signature solution.
3. Your business has outgrown its current e‑signature solution
Whether a small business or enterprise, many organizations when first implementing electronic signature software choose a smaller vendor to meet the organization’s immediate business needs. Some, for example, simply want to sign documents with e‑signatures in one department to understand the value and ROI before extending it to other departments. Alternatively, they may create an online channel to leverage e‑signature tools before expanding their paperless process to mobile devices.
As organizations grow with more employees, new departments, lines of business, service channels, workflows, and new geographical locations, your document signing requirements or the business challenges your e‑signature solution is equipped to solve will change. For many organizations, their e‑signature solutions have become a critical technology to conduct business with internal stakeholders, vendors, partners, and customers. These organizations may have anticipated switching to a leading electronic signature vendor, such as OneSpan, DocuSign, or Adobe, sometime in the future, but it can be difficult to know when that moment has arrived.
If your current e‑signature vendor can’t scale to support new use cases, you’ve outgrown your current e‑signature solution. Find a vendor that offers a scalable enterprise-grade solution that can support future e‑signature use cases across your organization and beyond.
4. You have poor customer adoption and completion rates
The shift towards remote processes caused by COVID-19 and the market’s growing familiarity and desire for digital channels have significantly changed customer expectations. In response to these expectations, organizations need to design a seamless and trusted e-signing experience. A proven strategy to fostering trust in the e-signing process is to deliver a consistent branding experience at all touchpoints throughout your customer-facing channels. Most e‑signature vendors only offer custom branding options like adding a logo or matching the colors to your corporate branding. White-labeling takes branding a step further. It enables you to customize every aspect of the e-signing process including removing all traces of the vendor’s branding from the signing ceremony. By doing so, your customers can feel confident they are engaging with the right organization. It ties your credibility as a brand to the credibility of the e‑signature process, thereby increasing customer trust, adoption, and completion rates. For example,
5. You have concerns about the document security your e‑signature solution provides
The security of your e‑signature solution is critical when dealing with legally-binding documents. In addition to the authentication of signers, your e‑signature solution should be using digital signature technology as an encryption method to tamper seal documents and signatures. This prevents unauthorized changes from invalidating the documents.
Some e‑signature solutions only tamper seal the document at the end of the signing process, which can put your organization at risk. As a best practice in maintaining integrity of signed documents, tamper-sealing should occur after each signature is applied in case tampering occurs when the document is in transit between signers. Consider switching to an e‑signature provider that has robust anti-tampering controls built into the signed document along with a mechanism to easily verify the integrity of the document.
Get Ready to Switch Your E‑Signature Provider
Electronic signatures are long past the point of being a novelty or even a luxury. A secure, reliable electronic signature solution is key to success in the new normal. If you have doubts about your current e‑signature solution, then it’s time to evaluate other e‑signature software vendors in the market.
Whether your current e‑signature solution is integrated or non-integrated, switching to OneSpan Sign will be a seamless process. Our team of subject matter experts and professional services can help you get up and running with OneSpan Sign quickly.
Ready to make the switch? Contact our team to learn how OneSpan can deliver a secure, trustworthy, and scalable e‑signature solution for your organization.