Infographic

Infographic: E-Signatures in Australia

esignatures in Australia

 

Get a look at the state of e-signatures in Australia based on recent surveys conducted by Galaxy Research and Axient.

Are Electronic Signatures legal in Australia?

Yes! In 1999, the Australian Parliament passed the Electronic Transactions Act, which gives electronic signatures the same legal status as handwritten signatures. A recent survey of 80 Australian organizations found who is leading the e-signature charge and who is falling behind. Top Australian Users:

  • 71% Electricity, Gas, Water & Waste
  • 60% Manufacturing
  • 55% Public Administration & Safety
  • 40% Professional, Sientific and Technical Services
  • 33% Real Estate
  • 18% Finance & Insurance
  • 14% Healthcare
  • 0% Accommodation & Food Services

User adoption is on the rise worldwide

In 2014 number of transactions worldwide using electronic signatures 210,000,000, and in 2017 Forrester Research2 predicts 700,000,000. More than 50% of Australian millennials (18-34) prefer to e-sign documents

Why aussie organisations choose e-signatures:

Customer demand is key factor influencing electronic signature adoption. 56% Customers expect end-to-end digital transactions 31% Desire to remain Competitive 24% Mobile device use on the rise

Electronic signatures: the key to success?

A study has identified a link between electronic signatures and improved sales performance 3. High performing organizations are twice as likely as under-performing to user electronic signatures.

Data Residency

According to Galaxy Research poll4 54% of survey respondents concerned about in-country data residency. OneSpan Sign is hosted in-country to fulfill data residency requirements.

Benefits for Business

Boost Revenue Electronic signature adopters experience year-on-year annual revenue growth of 9.9% - almost 3% higher than organisations that don't use electronic signatures5. Sell Faster Organizations that use electronic signatures close 17 % more deals than non-adopters. They also shorten their sales cycle by 0.7% year-on-year6. Improve customer retention Customer retention increases by 6.4% annually for organizations using electronic signatures, compared to a - 1.3% drop for non-adopters7. Save time and money Electronic signatures slash paper and printing expenses. they also reduce the time and cost associated with travelling to meetings for in-person signing. Sources: 1. Survey by Axient: Experts in digital automation of documents and forms http://www.axient.com.au/ 2. Forrester Research Inc., Brief: E-Signature Transactions Topped 210 Million In 2014, Craig Le Clair, May 19, 2015 http://bit.ly/28XhQ3s 3. Aberdeen Group, Signed, Sealed, Delivered: Integration Electronic Signatures into the B2B Sales Cycle, August 2014 http://bit.ly/29OZgqZ 4. Galaxy Research poll http://bit.ly/29FwR7R 5. Aberdeen Goup, Signed, Sealed, Delivered: Integrating Electronic Signatures into the B2B Slaes Cycle, August 2014 http://bit.ly/29OZgqZ 6. lbid. 7. lbid.