“By the end of 2012, you’re going to see e-signing become the new standard for financial transactions.”
Have you seen what’s happening in the real estate industry? The cowboys are winning the fight. Real estate agents all over the USA are using Docusign, Signix and other e-signature providers to wage a war against the tyranny of paperwork. Just watch Docusign’s Twitter stream (@Docusign)for a few weeks and you’ll see what I mean… Real estate agents are touting the benefits of e-signature, the ease of executing orders and transactions, and the positive customer perceptions that result. You’ll also witness the failures too! Some banks aren’t accepting e-signatures (yet).
Can you imagine being a company that won’t accept a deal or a customer’s good money simply because you’ve been too slow to adopt e-signature? According to the tweets I’ve seen, Bank of America and Wells Fargo are exactly those companies agents are complaining about. The reality is that Bank of America and Wells Fargo, as examples among many companies, are in the early stages of adopting e-signature solutions. There is no doubt that these companies recognize the value and demand to accept electronically signed agreements. In fact, they’ve been using electronic signatures ever since ATMs were installed. Did you know that your PIN is actually an electronic signature?
Most everyone who has ever used Docusign or a similar signature service will agree that using e-signature is inevitable in the sales order process. We’ve been using it with delivery services and grocery stores for years. Now we’re seeing it in real estate. Next is financial services. While the financial services world has used e-sign devices for years, adoption is still in the early stages and will soon become widespread.
By the end of 2012, you’re going to see e-signing become the new standard for financial transactions. Perhaps not every company will have it in place by then, but many to most will. Consumers will demand it. Financial advisors will demand it. Even product companies (mutual funds,insurance,etc.) will eventually demand it.
What do you think will happen to your company if you’re not quick enough to accept e-signed documents?