Remarkable facts about e-signatures

From 2018 to 2022, the number of electronic signature transactions increased by a staggering 750%. This remarkable growth reflects the increasing recognition and acceptance of the benefits that electronic document signing brings. Moreover, this is not just a passing trend; the e-signature market is expected to experience an astonishing 4.500% growth by 2029. It marks a turning point in how organizations conduct their business.

What are e-signatures, and what allows them to achieve such extreme growth? In the following, we will explore astounding statistics and facts that reveal the extent of the impact e-signatures have on modern business. From significant cost reductions to shortened sales cycles, e-signatures open the doors to more efficient, secure, and sustainable business practices. Join the many companies that have already begun to explore this technological trend, which significantly improves business processes while actively contributing to environmental preservation. 

In the following sections, we will delve into the essential benefits of e-signatures and examine how this web-based technology is transforming the way organizations make business decisions when implementing e-signatures.

Recent growth of e-signatures

Between 2018 and 2022, there has been an exceptional shift towards electronic signatures, with the number of electronic signature transactions increasing by 750%. This surge is a result of technological advancements and digital transformation, which have reshaped how organizations manage their documents. Future expectations are even more astounding, with the e-signature market projected to experience an incredible 4.500% growth by 2029. This indicates a growing recognition of the numerous advantages of e-signatures and their impact on the business world.

Reduction in workflow delays

Traditional processes that require physical signatures often cause unnecessary delays in workflows. Organizations report that collecting physical signatures can take an entire workday, slowing down business operations. However, e-signatures have changed this dynamic. Up to 80% of agreements can now be completed in less than a day, contributing to greater efficiency and agility. For 44% of these agreements, the process takes less than 15 minutes, allowing organizations to respond more swiftly to market opportunities. This, in turn, contributes to a higher return on investment in e-signatures.

Cost savings

E-signatures bring significant cost savings in document handling. Traditional signing methods involve costs related to printing, mailing, archiving, and managing paper documents. Organizations transitioning to e-signatures can reduce these costs by an impressive 85%. This directly impacts their financial performance. Of particular interest is the fact that organizations can save up to €18.2 per individual document.

Shortened sales cycles

One of the key advantages of e-signatures is the significant reduction in sales cycles. When documents are signed more quickly, the entire sales process can be completed much faster. Research shows that e-signatures can shorten the sales cycle by up to 400%. This means organizations can respond to customer demands more rapidly, close deals quicker, and thereby increase their competitive advantage.

High document security

Switching to digital signatures may raise concerns about security. However, e-signatures are actually more secure and authentic than traditional signatures. They employ advanced encryption technology to protect documents from unauthorized access and manipulation. Document tracking enables precise identification of signatories and timestamps, enhancing transparency and trust among all involved parties. 

BetrSign® service complies with the most demanding security standards (ISO/IEC 27001:2013 and ISO/IEC 27018:2014) and meets all requirements of the European Electronic Identification and Trust Services Regulation (eIDAS) and specific ETSI standards for electronic business. For government and other regulated environments or companies with the highest business security standards, BetrSign also offers a higher level of security, such as dual authentication (username/password and one-time password).

Environmental benefits

E-signatures not only bring business advantages but also have a positive impact on the environment. Using less paper reduces the need for tree felling, preserving forests, and reducing CO2 emissions. For example, BetrSign service has gained the trust of numerous companies, and this year, we have achieved an outstanding milestone of 25.001.076 electronically signed transactions, which means that together we have saved many trees and reduced CO2 emissions. On average, one spruce tree is needed for 10.000 A4 papers.

More time for important tasks

Faster e-signature processes give users more time to focus on activities that genuinely contribute to business growth. Organizations report that with the introduction of e-signatures, employees experience increased free time, creativity, and focus on key business tasks. This improves productivity and employee satisfaction.

User-friendly interface

One of the key features of successful e-signature services is their user-friendly interface. Over 96% of active users of the BetrSign service report that it is easy and intuitive to use. This means no special technical knowledge is required to effectively use the service. Employees from various departments quickly adapt to new procedures as they see personal benefits in them.

See for Yourself

They say that paper can handle many things. That's true. That's why we suggest you see the exceptional simplicity and practicality of e-signing with your own eyes. We'd like you to discover that with the web service BetrSign, you're not getting a pig in a poke. On the contrary, with BetrSign, you'll save money and stay sparky.

That's why you're invited to a completely   free trial . For a whole month. Yes, for 30 days, you can sign documents completely free of charge, and send them to others for signing – in short, use the web service BetrSign as if you paid for it. Put the finishing touch on electronic business and showcase yourself to your clients and customers in the most modern light.

Simplify your work and life. Use BetrSign. The e-signature revelation is just one click away.