ARX, a provider of digital signature solutions, today announced the results of a recent survey focused on digital signature use and user behavior among corporate legal departments, law firms and government agencies. The study Signature-Dependent Processes & Usage of Digital Signatures covers current usage and readiness to use digital signatures, efficiency impact of using digital versus physical signatures, factors of concern when considering a digital signature solution and departments most interested in and most reluctant to use digital signatures.
Specific survey results include:
• Respondents report that nearly half (49%) of all documents are printed for the sole purpose of adding signatures.
• Overall, an average of 1.24 days is added to paper-based signature processes. Nearly a quarter of respondents indicated the signature process added 2-5 days to their processes
• When asked what factors are most important in a digital signature solution, the top 8 answers cited by respondents included security and integrity of sensitive data (87%); ease of use (86%); ease of implementation (81%); acceptance by the courts (78%); control over user management/governance policies (70%); pricing (69%); integration with existing DMS (68%); and vendor reputation (60%)
• 62% cited increased efficiency (saving time on printing, etc.) as the biggest benefit of digital signatures; 50% cited shortened turnaround time on signature approvals; 39% prioritized compliance with legal and audit requirements; and 39% mentioned ‘establishing a paperless office/full digital automation’
• Top concerns regarding digital signatures include data security and integrity, control and location of sensitive data (64%); acceptance/legality of digital signatures (56%); and compliance with regulations/audit requirements (50%)
• Corporate legal departments are the most interested in implementing digital signatures (41%), followed by law firm IT (25%), legal marketing (25%) and individual practice groups (20%)
• Corporate legal departments are also the most reluctant to implement digital signatures (28%), followed by the C-Suite (22%) and Finance (20%).