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8 Ways DTM can Help Your Business
- Michael Jones
In our 24/7, mobile, competitive global business environment, being able to conduct business fast is critical. That means executing business documents efficiently and securely is important for businesses in any industry. Along with document execution, having processes that eliminate errors and cut costs are just as important. Adopting a DTM solution for your business is the answer. This means execute all types of documents and get approvals quickly, securely and with legally binding signatures on documents while eliminating errors and cutting costs.
There are solutions in the market that simply handle collecting signatures, some capturing digital copies of your signatures and some only capturing intent to sign from multiple parties. Then there are advanced DTM solutions like ZorroSign, that go beyond collecting legally accepted signatures from multiple parties. They handle various document signing ceremonies, help secure approvals, handle complex workflows and routing of these documents using automation like exception handling. Here is what you should look for in an advanced DTM solution.
- Legally accepted Electronic Signature and Digital Signatures
- Post-execution fraud detection of documents
- Full audit trail and chain of custody
- Document Management System (DMS)
- Content Automation, Workflow Management, and Rules Engine
- Intelligent Forms
- Security, Trust, and Global Compliance
- Advanced Security and Biometrics
Below we have listed eight ways an advanced DTM can help businesses go digital.
1. Automation – Full automation saves time, money and avoids errors.
Using a DTM platform can improve workflows and approval processes by automating document routing and processing. It can also connect one or more systems by providing interfaces between different applications by integrating the workflows using ZorroSign API. Automate your workflow with one click, assign to the correct people, send reminders, collect approvals and signatures without manual work.
2. Cost Savings – Save trees, water and office supplies,while reducing carbon emission and potentially even insurance premiums.
With automation comes savings of time, space and money. By specifying conditions and rules in a workflow, you can avoid costly errors that people typically make when executing documents. Outside of immediate cost savings from cutting back or discontinuing the use of consumables like, printers, toner, scanners, ink pens, paper, postage, and file storage, companies also see enormous labor related savings and decrease of insurance premiums from lowering their fire risk by eliminating paper file storage. Automating processes using a DTM solution cuts back on time demands, thus increasing capacity and output.
Interested in better understanding how your company can impact the environment, check out ZorroSign’s Environmental Savings Calculator and estimate savings per year in terms of trees, water, Carbon emission, time, and cost.
Along with positively impacting the environment, your company can save money by adopting a DTM solution. Learn more about the business impact of using office paper for business here.
3. Timely Execution – Decrease process time.
The DTM workflow allows the process owner to view and set time limits on each stage of the signatory process. Track a document from the start of the execution process through to the end with either user specific or document specific workflows and take advantage of automatic reminders.
4. Increased Efficiency – Time saved.
Through the use of an Advanced DTM solution, companies are able to save time spent on retrieving documents, managing the signature process and managing multiple versions of documents and templates.
5. Reduce Errors – Decrease opportunity for human mistakes.
Using a DTM solution can reduce decision fatigue, environmental distractions and pressure to meet deadlines, consequently improving accuracy. Even the best, most experienced employees make errors. However, DTM systems support templates that ensure that the information is captured correctly 100% of the time. A DTM system also enables the user to validate data in real-time, allowing for potential corrections to be made on the spot.
6. Checks and Balances – Identify bottlenecks and audit your processes.
The workflow system within ZorroSign DTM allows for a graphical representation of where a document is in a specific workflow, allowing for process controls and monitoring of each document process and chain of custody. With the introduction of a DTM solution into a workflow comes the ability to monitor and track the progress of eSignature transactions at every step, in real time. This will also allow the workflow owner to identify bottlenecks and make appropriate adjustments to the process in order to increase efficiency where possible and ensure accountability throughout the workflow.
7. Audit Trail – Non-repudiation audit trails and full progress tracking.
With ZorroSign real eSignature solution, ZorroSign users can be 100% confident their documents have been executed with tamper-proof security and enforceability of documents of both digital and printed versions of your documents. . ZorroSigned documents create a non-repudiation audit trail, that include full progress tracking and bank-grade security using the Blockchain.
8. Compliance – Comply with all regulations, regardless of industry.
A reputable DTM solution will be compliant with international laws & regulations such as, E-Sign Act, UETA, HIPAA and GDPR. Advanced Digital Transaction Management solutions, eSignature solutions and digital signature solutions should also improve a company’s ability to remain compliant with their own industry specific rules and regulations.
Be an early adopter of ZorroSign’s DTM solution and take advantage of using a eSignature solution. Global businesses are quickly adopting Digital Transaction Management solutions as these solutions have already proven the ability to deliver immediate and immense benefits. Get ahead of the crowd, let ZorroSign help you lead your digital transformation, click here to schedule a demo today.