5 min
Posted by media on July 4, 2018 at 9:00 AM
The electronic signature saves time for businesses, as we have already mentioned in this blog, but there is also an economic saving. It is a fact that in addition to reducing administrative management times and increasing efficiency, companies that use the electronic signature also save money.
If you want to know the savings linked with digitizing the signature process for any type of documents or contracts, don't miss out this post.
Table of contents |
In this post we have calculated the savings for a company that has implemented the electronic signature to speed up their signature processes, whether the documents should be signed internally or externally, by clients or providers.
To do so, we have compared what it costs to get the signature of 200 documents a month by the traditional method - sending documents to be signed on paper - with the costs of using an electronic signature solution.
Suppose that we want to send 200 invoices with two pages each, and we must get our client’s signature on both pages. We have made an approximate calculation of what it costs to obtain these invoices signed using the traditional signature method - paper and pen - and we have compared the results with what it costs to obtain the two signatures via an electronic signature solution, such as the one we offer in Signaturit.
Assuming that each invoice should be sent to the offices of a different client in the same country, in our example, in Spain:
In case the invoices are sent to their destinations via ordinary mail, the total cost of this manual process would be 483.54€.
If it were decided to send the invoices via certified mail, the total cost would be 1,013.54€.
There aren't any. Invoices are prepared, sent and received back signed in digital format.
Signaturit’s Business Plus Plan allows to send an unlimited number of documents to sign for 50€/user per month (annual payment). In our hypothetical case, if the company sent to sign 200 invoices per month, the price would be € 0.25. In any case, the company should pay only 50€ per month for a Business account in Signaturit.
There aren't any, since the invoices are sent to sign directly from Signaturit’s platform. Additionally, the invoices could be sent by a certified email service that replaces the regular certified mail. This service is available in the Business Plus Plan, which includes all of the features of the Business Plan + certified email sending.
In the case of using Signaturit’s electronic signature solution, the total cost to send 200 invoices would be 216,67€, which is 55% less than the case of preparing the invoices in paper and sending them to the recipients via ordinary mail; and 78,62% less in case of sending them via certified mail.
Traditional Method |
With Signaturit |
Difference (en %) |
|
Material costs |
13,54€ |
0€ |
-100% |
Administration costs |
270€ |
166,67€ |
-38% |
Shipping costs |
200€ / 730 € |
0€ |
-100% |
Subscription costs |
0€ |
50€ |
+100% |
Total cost |
483,54€ / 1.013,54€ |
216,67€ |
-55% / -78,62% |
Grupo MEDIAPRO is an audiovisual giant with offices in 33 cities in more than 21 countries and more than 4,500 professionals. Among its many activities, they focus on the production of audiovisual content, films and interactive contents, as well as the management and distribution of sports events.
With the aim to optimize all of their processes necessary to close and execute projects where signed documentation is normally required, Grupo MEDIAPRO’s efficiency department: Signaturit’s electronic signature tool.
With a few years having passed since implementation, Núria Cabrero Solà, Efficiency Manager for MEDIAPRO Group, shared the savings figures with us that were calculated for the previous month of May at our digitalisation in HR departments event.
Therefore, the total savings for this year were 90 thousand Euros. In 2017, the number of documents signed reached 10 thousand, which by applying the same rule of three, meant a saving of 296 thousand Euros. |
In addition to the clear cost savings involved in the use of the electronic signature to sign documents, we should also consider that the digital process also has other advantages compared to the traditional method of signing documents on paper:
Using the electronic signature not only provides tangible economic savings, but also improves the efficiency of processes, employee productivity, simplifies workflows and prevents lost business opportunities. And don't forget the environmental impact with the important reduction in paper consumption thanks to digitizing the signature processes.
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