How the High Tech Industry is Using Electronic Signatures
Organizations are leaning into the latest and greatest technologies to improve customer experience and drive efficiencies during this uncertain economic environment. Leading companies are increasingly using automation, artificial intelligence and robotics to streamline operations and better understand market trends. Unironically, the high tech companies they’re turning to for help are tapping into modern tools to meet their own set of challenges.
Faced with a number of hurdles–including security concerns, slow-moving sales contracts and a competitive hiring environment–high tech companies are turning to electronic signatures to work smarter and faster. In this article, we’ll explore the top use cases for electronic signatures within the high tech sector.
With current fluctuations in demand for high tech solutions, the organizations that provide them can’t afford to get complacent. To outperform competitors, organizations must be agile enough to respond to market demand and facilitate growth for both themselves and the businesses they’re serving. Sales teams are using DocuSign eSignature to meet these needs while completing common documents such as:
- Statements of work
- Sales quotes
- Technology service agreements
- Technology transfer licensing contracts
- Sales and service contracts
- Renewal contracts
- Order forms
Technologies are advancing at the speed of light, with organizations scrambling to keep up while maintaining compliance and quality of service. Legal teams help ensure organizational efficiency by overseeing everything from copyright forms to complex sales contracts. Yet, 37 percent of lawyers reported being dissatisfied with the tools available to them at their firms.
Organizations seeking to improve operational efficiency can do so using electronic signatures to save legal time, streamline processes and improve brand reputation. Here are some common use cases for lawyers at tech companies:
- Commercial agreements (including non disclosure forms, joint venture agreements, employee contracts and more)
- Contract license agreements
- Technology transactions
- Trademark registrations
- Data protection agreements
The high tech industry is a prime target for cyberattacks given the sheer nature of the work it completes. As noted in a Deloitte report, employees within the sector are often piloting new apps or platforms that haven’t yet been thoroughly secured, or are utilizing new technologies that leaves them vulnerable to breaches.
High tech companies are using eSignature as a way to securely send sensitive documents. Contracts signed using robust electronic signature processes are more secure and deliver a rigorous audit trail of who signed and when.
Security leaders recognize that electronic signatures:
- Help ensure and maintain an efficient tech stack
- Reduce risks through improved data and access control
- Include tamper-evident seals that indicate the electronic signature is valid and that the document hasn’t been tampered with or altered since the date of signing.
Delivering a better employee experience
In order to attract top talent, companies need modern, sophisticated—and digital—recruiting and onboarding processes. Digitally-native employees expect their work environments to reflect a hyper-connected world and cater to their need for flexibility. For these generations, digital technology is critical not only because it improves their productivity, but also because it plays a key role in enabling hybrid work.
During a time when employees expect digital experiences, electronic signatures can support your organization’s future growth by expediting:
- Job applications
- Employment offer letters
- Tax withholding forms
- Background check consents
- Employment verifications
- Direct deposit setups
Learn more about the ways electronic signatures can benefit high tech companies.