What is the cost of a delayed customer signature?

You have the verbal agreement on the sale / policy / agreement and all you need is the signature to confirm.

What do you do next?

1. Send the documents in the post – you are now reliant on their safe arrival, the speed of delivery, and then how quickly it takes for the information to be read, signed, and returned. This option can be slow, and the costs involved include printing, stationery, and postage.
2. Send electronic documents – a cheaper and potentially quicker solution is to ask the customer to open the documents, print, sign, scan, and email back to you. This is not an ideal solution for the customer and would only work if they have the knowledge and the equipment to be able to do this. In some cases, this could cause the customer issues and may result in the agreement not being completed.
3. Use electronic signing software – there are many options available, some are easier to use than others, some require downloads and others do not. Some are compatible with existing systems and others have limited functionality and may require the business to source multiple solutions. The costs to the business will vary considerably depending on the solutions taken.

Each of those options have pros and cons for both the business and the customer.

From the business perspective, costs also need to include the value of the time associated with the delay, for example, the lost sales, missed deadlines, the delayed opportunities to invoice etc.

For as little as £12.50 per month / per user, Videosign gives businesses a complete solution incorporating unlimited Video Conferencing with secure Signature Witnessing that includes detailed audit trails and recordings.

Want to know more? Book a demonstration and see it for yourself – contact us to arrange a demonstration