Digitally Transacting Documents? Here Are 3 Easy Steps to a Hassle-free Process
Digital Transaction Management and electronic signature software have revolutionized businesses across the globe productivity. By digitizing the tired, long, paper-based processes of yesterday, businesses worldwide have streamlined their processes, improved customer satisfaction, and minimized costs and errors along the way.
Likewise, tracking, monitoring, and managing transactions throughout their progress has continued to improve. Here’s how you can do the same for your business:
1. Proper Preparation
Create or prepare the document that will be used for the transaction. The preparation phase could be as simple as filling the required details in digital format, or additional collaborative documents and legal compilations. In some cases, the preparation might need professional legal assistance.
Following the initial preparation, continue the sequence by getting the document inked and attaching the necessary support documents. Having added all required documents and contracts, security measures should then be enforced to authenticate every transaction step. Finally, sync the appropriate metadata of document to the signatory, whereby the post-execution process can be commenced.
The final step in the digital transaction cycle is to record the detailed audit trails and custody of the document from the beginning of the transaction to better protect its authenticity. Protecting the documents from any possible tampering and handling is where it all ends. This completion process is applicable for both digital and paper versions of the transaction documents.
Types of Documents You can Manage with DTM
DTM can transform any document-based transaction within any department of a given organization. From Sales to Accounting, Digital Transaction Management helps a given businesses in countless ways.
For starters, documents can be sent to clients for review and approval directly with prioritization and without getting lost in the mailbox. Essential agreements and quotations can be approved quickly, reducing the sale cycle time. In other words, your deals close faster. Ask yourself, is there anything better?
Likewise, Human Resources is one of the most document-rich departments of any business. Receiving applications and resumes digitally keeps their filing cabinets clutter-free, making the whole process infinitely more secure and easy to manage. Subsequently, documents such as offer letters or appointment orders in need of a signature can be inked digitally with far less confusion on the back-end.
Furthermore, business-critical documents like project details and shareholder information can be shared securely with the appropriate parties. Gone are the days of worrying about valuable documents falling into the wrong hands. Adding to this, meeting notes, agendas, and other business information can be circulated within the organization more safely and securely.
Finally, DTM solutions can completely transform the practice of delivering folders to approvers. Invoices, payrolls, account payables, receivables, and other accounting documents are transferred digitally without delays or errors. Additionally, with a cloud-based digital transaction management system like Archarina, employees of any department (especially remote workers) can send and receive documents freely.
So, there we have it. Three easy steps to a hassle-free document transaction process. See how DTM can transform your business today!