Electronic Signatures Leading the Digital Transformation of Telecommunication Industry
Telecommunication industry has been the driving factor behind the global digitization process. Whether it’s the high speed internet which you are currently using to read this blog or the VoIP technology that allows you to connect with your overseas clients through an online call—telecommunication industry sustains it all. But somewhere in the quest to digitally transform others, the industry itself has been left behind.
Today companies operating in the telecommunication industry are facing two challenges:
· Maintaining a healthy gap between the generated revenue and incurred expenses.
· Offering improved customer service and relying on an efficient operational model to help them stand out, since the products on offer do not differ markedly in terms of features from one competitor to another.
All this restructuring is possible with industry’s own digital maturity. Implementation of electronic signatures is crucial to speeding up the process.
There are different contracts in the telecommunication industry, both internal and external, which need to be signed before the customers can avail the services for which they have subscribed for.
If you look at individual contracts, there are:
· Contracts for internet bandwidth.
· Contracts for landline services.
· Contracts for subscribing to mobile phone network services.
· Contracts requesting for additional network or lines.
· Contracts for the issuance of TV licenses.
· Contracts informing about change in tariffs or requesting a different package.
If you look at contracts for corporate clients, there are:
· Business contracts requesting for landline, cellular and internet services.
· Business contracts for email based services.
· Business contracts, requesting for additional lines.
· Business contracts informing asking consent over change in tariffs.
By integrating electronic signature solutions in the contract signing process, the whole workflow can be digitized and contribute towards digital development.
The benefits of digitizing contract signing process are summarized as follows:
By digitizing the contract signing process, neither your customers nor your team will have to spend time manually signing for the services and processing the paperwork. Customers can sign the documents online from the comfort of their home and office (with a meeting to attend in the next hour). And they can do it at any time, from any platform.
With improved customer service, comes increased customer satisfaction:
· With the contract signing process now being made digital, application’s processing speed increases and customers are serviced promptly.
· Now that the customers can conveniently access the contract and electronically sign them, they don’t have to get involved in the hassle of printing, manual signing and contract scanning.
Some electronic signature solutions come with an inbuilt check-in feature where contracts or documents cannot be submitted online until all the blank fields are filled and signature fields are validated. This results in reduction of errors and delays during contract processing.
Digitalization of the contract signing process also offers convenience to your employees. They don’t have to manually process the document to approve the transaction and the automation can help them to be more efficient. They will spend less time in the documentation workflows and can utilize the saved opportunity cost towards solving more immediate and important concerns.
Consumers—especially the Millenials—want to be part of something that creates value for their community. Digitization of the contract signing process not only helps your company adopt a paperless solution which helps to reduce overhead cost, it also establishes your brand as a servant to ecological stability. It promotes your commitments towards being eco-friendly with your business practices.
Electronic signature solutions can assist the digital transformation of businesses operating in the telecommunication industry, thereby, helping them monetize their operation models and improve their services.