Today, electronic signature solutions are being used across many industries/sectors. However, the adaptation rate within the retail industry has been slow when compared to others. Maybe, this is because it seems less apparent to retailers how they will benefit from using this type of solution.
Another aspect maybe the fact that the attention lies somewhere else for retailers, like customer service. There are multiple reasons for retail sectors who are yet to implement a cloud-based eSignature software solution.
Here we present various kinds of retail businesses and contracts they frequently use.
Retail Business Types
A few common types of retail businesses are:
a. Specialty stores which mainly focus on products like clothing, electronics, etc.
b. Convenience store outlets which operate near residential places.
c. Medium or large household outlets aiming for high to low margin of sales.
d. Department store outlets selling various goods/services divided into large departments which can be operated individually by buyers or private organizations.
e. Online stores selling directly to its clients through an e-commerce website.
f. Discount shops which source branded services to sell at discounts.
g. Warehouses selling products/services directly from the manufacturer.
Retail sectors handle a lot of paperwork each day. This occurs for a wide number of cashier operations, such as conforming orders for purchasing teams for services delivered by a vendor.
For some retailers, the order methods require a minimum of three copies of documents. Thus, imaging the paper load to go directly into regular documentation files of transactions happening at a retail store. It occurs only for the sake of collecting signatures. Online eSignatures in retail sectors can be applied for the below operations.
a. Contract Recruitment
b. Application and supplier forms
c. Concession contracts
d. Sales orders and quotes
e. Delivery details
f. Packing slips
Retail stores must organize the critical agreements properly at a centralized location after printing, signing, and scanning them. Processes of traditional paper-based documentation is expensive and causes delays in the overall procedure.
Retail Businesses Benefit from Robust eSignature Solutions
a. Streamline Methods and Enhance Effectiveness
Despite the major percentage of retail sales being conducted online, clients still want high-values services in-person before they sign on the dotted line. With an ever increasing demand on the growing margins and operating expenses, a realistic approach is to modernize and automate those traditional procedures.
An automated electronic signature solution guarantees a smooth sales method of digital transactions into real-world circumstances. Sales team can then spend more time and focus on other critical activities rather than completing paperwork.
b. More Convenient and Secure
Electronic signatures are completely secure, thus ensuring your customers information is always safe. While enabling you to share agreements and specific details with colleagues in order to significantly minimize the internal workload.
Moreover, eSignature work on many types of smart devices, enabling retailers to complete sales and sign contracts in the workplace or on the go. Clients can also generate eSignatures online at their own convenience while staying at home.
c. Improved Paper Trail
Handling paperwork can be challenging. The amount of time included in sending documents, copying, and storing them without the possibility of being lost or misplaced can all be prevented through leveraging an electronic signature solution.
Plus, it becomes effortless to retrieve and archive contracts with a digital log that can provide the needed information from the signed agreements whenever required. For example, when signatures were created, IP address used, email addresses used, and so much more.
d. Excellent Client Experiences
Many clients don’t like handling piles of paper documents, receipts, and/or warranties. It’s time-consuming, arduous, and troublesome. These type of software solutions come in handy in such circumstance by enhancing the customer’s shopping experience.
It has been observed that boosting customer experience is a high priority for all companies. Businesses that offer the best client experiences outperformed their competitors, creating a total return, which was higher than almost 40% over others. Switching to eSignatures removes the ineffectiveness that impacts your clients negatively. These clients can generate signatures online with a single click, anytime, anywhere, and on any smart device whenever needed.
Caring for the environment can be a large impact and difference on the retail industry. Several companies find value in deploying some environment-friendly approaches. Going green may go well with the brands value/image and contribute to a positive client relationship. Thus, if you want the business to become eco-friendly, then an eSignature system is the way to go. It’s a robust application which can support your team’s hard work of helping customers.
By embracing an eSignature technology, you can ensure progress for retailers and save the planet by minimizing the overall amount of paperwork within your operations. It’s a win-win for both the environment and your business.
Electronic signatures save time, effort, money, and create safer stored documents, streamlining overall compliance and audits, plus help reinforce the brand to the world. An eSignature solution can be integrated into your existing business applications and requires less capital expenditures, thus making it the best software decision for your retail businesses.