Digital transformation is a process that is carried out transversally in all companies and affects all their departments. Today we are going to focus on how one of the tools of this phenomenon, the electronic signature, is able to increase sales thanks to its benefits.
Digital transformation is no longer a new concept and business people are increasingly thinking of it as a positive and necessary process for their companies to grow. Process that their companies need to believe in. However, if we consult some studies and rankings that assess the current state and development in Spain, there is still a long way to go.
According to the IMD ranking, which assesses the digital competitiveness of nations around the world, Spain is in 31st place, practically in the middle of the table. Other reports, such as the Accenture report, place Spain in eleventh position out of the fourteen countries analyzed.
Achieving digital maturity has many advantages both nationally and individually for each of the companies that decide to carry out this transformation process. A Siemens study estimates that it could add 120,000 million euros to the Spanish gross domestic product by 2025.
As we pointed out, digital transformation offers benefits directly to companies and the way they work. In today’s case, we will focus specifically on the digital signature and how it can help to increase sales for any company can help increase sales for any company that starts using this tool.
Why digital signatures increase sales figures
First of all, one of the most interesting features of the digital signature is the mobility it offers. Traditionally, when it came to closing an agreement, both parties had to meet, usually in an office and sign all the relevant papers to make the agreement official.
The digital signature gets rid of all these traditional elements, making this last part of the process traditional elements, making this last part of the process, usually more delicate, to be usually more delicate, is done in a more agile, fast and fluid way, without complications that may hinder that can get in the way. Therefore, the work of the sales department is facilitated and its performance improved.
In addition, this immediacy offered by the mobility of the digital signature means that negotiations do not take longer than necessary and, once a point of agreement has been reached, the deal can be closed on the spot without having to organize more meetings or lengthen the process more than necessary.
For example, when attending specialized trade fairs, where new business relationships are often established and many agreements are closed, the digital signature allows doing it at the same time and place.
It not only helps in the context of B2B relationships, but also in B2C. This speed we are talking about makes the procedures and formalities that customers need to carry out go more smoothly, saving time and offering a better signing experience than in the traditional way.
The time savings that digital methods allow can be up to 80% compared to the traditional way. This time can be devoted by the salesperson to other actions, which can be used to serve a larger number of customers (in an optimal scenario, sales could be multiplied by up to four times) and they will be more satisfied thanks to the speed of the process.
It should be noted that all these signed agreements have full legal backing, with the exact same validity as a handwritten signature, thanks to the EU 910/2014 regulation, always in the case that all the requirements considered in the law are met, as is the case with Viafirma’s solutions.
The last area in which digitalization has a positive impact is B2G, i.e., relations with the government, in this case with the digital certificate. The Spanish Public Administration has made great efforts in this regard to facilitate the procedures and lighten the bureaucracy that used to be very cumbersome.
How does the digital signature improve sales?
Focusing on numbers and statistics, the international group Aberdeen conducted a report analyzing how the use of electronic signature technology increased the tactical effectiveness and efficiency of sales operations.
According to the document, electronic signature users have a 4.4% year-on-year increase in opportunity rates, while the rest are stagnating at 0% improvement. In addition, the vast majority of users of this type of technology (86%) the ability to identify the most profitable customers (vs. 73% of non-users).
The study concludes that organizations that have implemented this technology “consistently outperform” those that do not. “The electronic signature is fast becoming a mainstay for the sales teams and mandatory for any company that wants to keep pace,” says the Aberdeen report.
In short, the digital signature is an essential tool for any company that wants to increase its sales and improve its performance. The closing of agreements is more fluid and immediate, avoiding possible last-minute changes of mind, and the signing experience is completely new and satisfactory for the customer, saving a great deal of time and money in costs such as paper and travel.