6 reasons why Retail business should adopt eSignature solutions

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Electronic Signature Solution for the Retail Sector

Although electronic signatures have been adopted across most industries, the retail sector has been a bit slower to adopt this technology. It’s not entirely clear why this is the case, but it may have something to do with the fact that it’s less obvious how retailers can benefit from using eSignatures. In sectors where contracts are critical to daily operations (such as real estate), the benefits of e-signatures are much more apparent.

There are many potential benefits of using e-signatures for retail businesses. For one thing, it can help to speed up the purchase process and reduce paper waste. Additionally, digital signatures are tamper-proof and more secure than traditional signatures, which can help to enhance security and protect your business from fraud. In addition, our software is easy to use and integrates seamlessly with popular retail point of sale systems. .

Before we look at why Certinal is ideal for retail businesses let us consider the various types of retail shops and the documents they regularly utilize.

 

Types of retail establishments

The term “retail” encompasses a wide range of business models. The following are some of the most common types of retail stores:

  • Specialty stores are stores that specialize on a specific product category, such as electronics, entertainment, or clothes.
  • Convenience stores are small to medium-sized convenience businesses that are typically found near residential areas.
  • Department stores are large enterprises that provide a variety of services and commodities and are organized into departments run by merchandisers, buyers, or a distinct private company.
  • Supermarkets are medium- to large-scale grocery stores with a focus on high-volume, low-margin sales.
  • Direct retailers/warehouses are medium to large establishments that are typically located off the high street and sell things directly from the manufacturer.
  • Discount stores are large, medium, or tiny retailers that buy branded items or end-of-run stock and offer it at a deep discount.
  • Stores that sell directly to customers via an e-commerce website are known as online stores.

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Documents used in the retail industry

  • Sales quote
  • Sales order
  • Invoice
  • Sales receipts
  • Sales return
  • Delivery notes
  • Packing Slips
  • Supplier forms
  • Concession documents

use of electronic signature in retail industry

What are the advantages of eSignatures for retail businesses?

  • Boost efficiency and simplify processes

Certinal’s electronic signatures can be used to modernize and automate your manual processes, improving efficiency and reducing costs. Our digital signatures are legally binding and meet all the requirements of the UETA (Uniform Electronic Transactions Act). They are also tamper-proof and support multiple signature types, making them ideal for high-value transactions. In addition, our software is easy to use and integrates seamlessly with your existing systems. As a result, it is the perfect solution for businesses who want to streamline their sales processes. Certinal’s electronic signatures are the future of retail sales.

  • Non repudiation and robust audit trail

Contracts are an important part of doing business, but they can be a hassle to manage. The time and cost involved in sending contracts, copying them, and storing them for filing can add up, and there’s always the possibility of contracts being forged, lost, or damaged. Fortunately, there’s a better way to handle contracts: with digital signatures.

Digital signatures are a secure, efficient way to sign contracts without having to worry about the paper trail. Certinal provides a secure digital signature solution that is compliant with UETA (Uniform Electronic Transactions Act) and eIDAS (Electronic identification and trust services) regulations, making it a great choice for businesses that need to comply with strict security standards. With Certinal, it’s easy to create a digital signature and add it to any document.

  • Safe, secure and compliant

Certinal’s e-signatures are entirely secure, ensuring your clients’ details are safe, while also allowing you to share documents and information with colleagues to significantly reduce internal workloads.

Certinal’s digital signatures are based on the most advanced cryptographic algorithms, which have been extensively tested by security experts. The Certinal system has been designed to be highly scalable, so it can support a large number of users and transactions.

Additionally, Certinal’s e-signatures work on most mobile platforms, allowing retailers to complete sales in the office or even while on the move. Most importantly, customers can sign with Certinal on the go at their convenience. This makes it easy for you to get started using Certinal’s e-signatures right away.

  • Improve your CX significantly

Several clients dislike having to deal with large stacks of paper agreements, contracts, warranties, and receipts. It is tiresome and inconvenient. In this case, online signature software like Certinal comes in handy by enhancing the customer’s purchase experience.

Numerous studies have demonstrated that improving customer experience is a top objective for many businesses. According to a survey conducted by Watermark Consulting, companies that provided a positive customer experience beat their competitors, producing a total return of more than 30 percent.

Electronic signatures enable digital transformation, which eliminates inefficiencies that have a detrimental impact on your customers. Your clients may produce signatures online with a single click, from any device, at any time.

  • Increase bottom-line savings

According to a leading American research firm, American businesses spend around $80 per employee per year on paper, and 50-70 percent of workplace space is devoted to filling and/or keeping printed documents. According to another study, locating a misplaced document costs $120, filing a document costs $20, and reproducing a missing document costs $220*.

(*source: MultiBriefs)

Some major cost centers in the retail business are:

  • Copying costs
  • Cost of copier and printer supplies
  • Scanning cost
  • Cost of buying printing papers
  • Printing costs
  • Delivery or mailing cost
  • Safe document storage cost

Investing in online signature software is one option for retail businesses to cut costs. The return on investment can be quite substantial, and shops may notice it nearly right away.

  • Environmental Impact

Organizations that are looking to make their retail business more eco-friendly can use Certinal’s online signature software to help them create a digital signatures. Certinal helps reduce the environmental impact of paper waste and is committed to helping its customers eliminate as much paper waste as possible. In addition, Certinal’s online signature software helps businesses meet their customer’s needs by providing a convenient way to sign documents electronically.

Certinal helps businesses save time and money while also contributing to a more positive customer relationship. As more and more businesses adopt Certinal’s online signature solution, the environmental impact of paper waste will continue to decrease, making a difference in the fight against climate change.

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Conclusion

In a world that is increasingly digitized, it is no surprise that the way we sign documents has been evolving. If you are still signing documents with wet-ink signatures, it is now the right time to think about switching to e-signatures.

E-signatures save time, effort, and money to make contracts more secure and simplify audit and compliance and help reinforce your brand. Given that eSign solutions can be effortlessly integrated into existing applications and need little capital outlay, there is no reason not to make the switch. Certinal provides a secure and efficient solution for digital signatures that is tailored for businesses of all sizes.

If you have any further questions or want more information about how Certinal could benefit your organization, please do not hesitate to book a demo with us or contact us at switchto@certinal.com.

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