The savings potential with eSignatures

The savings potential with eSignatures
18 Dec 2019

Of course, customers of XiTrust would like to know: How much do I save by introducing the electronic signature? So how does MOXIS keep its efficiency promise? Are the targeted savings measurable at all?

It is not only us, but above all our customers who give the answer to these questions. Measurable increase in efficiency with electronic signatures is particularly evident in three individual fields:

1. Personnel costs and working hours
2. Costs for paper-based processes
3. Saving time by avoiding cross media conversion

1. Personnel costs and working hours

So we first asked one of our largest customers, a global personnel services provider, to draw a sample calculation. The focus here was on the effect of electronic signatures on personnel costs and working hours. The result was amazing, even for ourselves:

Starting position:

  • 50,000 documents/transactions per year
  • 12 minutes administrative time per document without eSignature on average
  • 3 minutes administrative time per document with eSignature on average
  • 25 euros personnel costs per hour

Savings in personnel costs

2. Costs for paper-based processes

However, it’s about more than personnel costs. It is advisable to take a closer look at the actual costs of paper-based contracts as well. In this case, the question about savings is rather the other way round: What do paper-based signature processes really cost, especially when the security of the shipment has to be guaranteed?

Example 1

A contract with 20 ISO A4 pages is sent as a large letter in duplicate by simple registered mail.
Process costs example 1

Example 2

A contract with 20 ISO A4 pages is sent as a large letter in duplicate as a registered mail with return receipt and personal delivery.
Process costs example 2

Result: The range of costs for paper-based processes in this example varies from 17.50 euros to 36.90 euros each! (note: rates of German Post, as of December 2019)

3. Saving time by avoiding cross media conversion

A third example of effective savings shows the increased efficiency when using eSignatures by comparing process-related throughput times. In other words: What are the concrete benefits of eliminating annoying cross media conversion? Here is a quote from one of our highly valued clients (you may have a look at their success story as well):

Thomas Gasteiger, GULP

Thomas Gasteiger

Project Management, GULP – a Randstad company

Watch Thomas Gasteiger in our video blog

“One of our freelancers is based in Argentina. The average delivery time for mail to Argentina is 12-16 working days per direction. Although he took some days to sign the contract, the letter post was beaten by far!”

Even though the above example may be the exception in practice, the enormous savings potential offered by eSignatures in terms of throughput times is evident. Processes that on average take several days or weeks can be completed in just a few hours or even minutes! This applies not only to processes that require the postal dispatch of documents, but also to internal signature processes, which are subject to delays, e.g. due to frequent absences of persons obligated to sign documents.

Would you also like to design the signature processes in your company efficiently and without cross-media conversion while saving time and costs? The electronic signature folder MOXIS is your companion on the way there – numerous well-known customers have already deployed successfully with the enterprise solution for electronic signing. Why not requesting a free and non-binding live demo with one of our experts!