How logistics industry an leverage with e-Signatures?

  • October 30, 2019
  • Reading Time: 3 minutes
Reading Time: 3 minutes

It has been a long time since the world has gone digital and so have the signatures. This digital world is demanding more flexibility and responsiveness in the solutions that can ease their work and reduce the paper load. Even the Logistics Industry is waiting for a solution that seamlessly allows them to do the paperwork online without any hassles and delays. For all logistics partners to be on the same page it is important that they reduce their time and cost in processing the distribution of products. There are some logistics businesses spread globally that need goods to be delivered abroad and need certain documents signed. Signing bills, invoices, and other paperwork can be a very tedious and cumbersome task. It delays the work and is not very secure as your signatures can be forged anytime.

Every player in the Logistic industry will be delighted to have an easy way to have the documentation process done faster and not facing any kind of delay because of documents. Technology is playing a major role here.

In 2018 the digital signatures market was valued at USD 3.06 billion by 2024 it is expected to reach a value of USD 5.7 billion by 2024, at a CAGR of 21.5%, during the forecast period 2019 – 2024.Organizations are making an epic shift from traditional signatures to e-signatures because it reduces the risk of legal disputes and provides stronger evidence.

Logistics Documents that need Signatures to Proceed Further

 There are various types of documents that need to be signed in the logistics.

  • Bill of landing
  • Freight bill
  • Customer agreement
  • Certificate of origin
  • Cargo insurance certificate
  • Commercial invoice
  • Waybill form
  • Consignment Note (CMR)
  • Dangerous good declaration note
  • Packing list
  • Delivery note

Every good that is being transported needs a document to support the transportation rules. Rules changes for transportation and paperwork if it is outside the country. Every country has its own rules for goods being moved in their country and they require some documentation that needs to be signed. There are signing authorities for each of the above documents.

Advantages of e-Signature to the Logistics Industry

There many benefits of e-signature to the logistics industry. It eases the paperwork and speeds the entire process of documentation with e-signature.

By 2020, the electronic signature market size will grow by 39 percent. (P&S Intelligence)

Lowering the Costs

Once the logistics companies decide to take all documentation online then they begin to lower the cost on paper, courier, shipping and the storing of these documents.

55–78.62% – total savings of businesses migrating to e-signature apps from paper, taking into account material, administration, shipping and subscription costs

Brings in Efficiency & Productivity

Once you power your organization with e-signatures then you can easily create, sign and send documents online quickening the process. Once less time is spent in processing and signing of documents then the team can focus on other important things like cracking deals and making deliveries.

According to Forrester there will be 85% – productivity improvement by adopting e-signatures.

High Accuracy in Documentation Tracking

When the documentation is done online and signatures are done online using e-signatures, it is very easy to track the documents. You can track who signed the documents and who are left to sign the document, all through the online portal. It won’t get misplaced as it would happen through courier, it’s all online.

According to AIIM approximately 81% of business users consider e-signatures as the most essential in the legal and security aspects of their daily operations.  

Smooth Customer Experience

To have a successful logistics business you need to ensure your clients are happy with your services. One way of doing that is enabling e-signatures for customers too where they can sign through the common gadgets or their phones. Using e-signatures will assure the clients that their data is safe.

According to a survey by Ombud, 500% – customer loyalty will increase with e-signatures.

Go paperless and Be Environment-Friendly

By reducing the usage of paper in the logistics you not only save money, but you also support saving the environment. You emerge as an eco-friendly brand that helps them in many ways related to logistics.

According to Consumer Action: Those who prefer electronic documentation over paper forms say they intend to cut paper clutter and help save the environment by using less paper documents

Closing Note

Today if you want to survive the tough competition you need to go digital. Almost every customer is tech-savvy and smart and expects the same from you too. Digital transformation in the Logistics industry is necessary to speed the process and delivery. Logistics documents should be signed using the e-signature to streamline contracting work, which usually will take time if done manually. Hence leveraging form e-signatures can take the Logistics business a step ahead of the others, as they can put their focus on increasing sales, delivery and understanding the customer needs.

If you have a logistics business and have issues with documentation and signing then Cygnature is your e-signing partner that not only allows online signature but secures your documents.

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