When evaluating the opportunities of switching from physical to electronic signing processes, price can sometimes be one of the important aspects. The truth is, digital signing processes are not expensive compared to the physical one. Let\u2019s see how so. <\/p>\n\n\n\n\n\n\n\n
Physical document signing<\/strong><\/p>\n\n\n\n First, in order to understand the difference, let\u2019s look at physical signing expenses and negate myth that it doesn\u2019t cost a thing.<\/p>\n\n\n\n Physical document processes include paper, printing, mailing, and, most importantly, lots of workforce which actually is the most expensive resource. However, people tend to forget about the latter one.<\/p>\n\n\n\n Let\u2019s say you sign 50 documents a month, each of them containing 2 pages, 2 copies. This is 200 pages of paper, plus printing costs. Let\u2019s say each page of paper itself and printing of one page costs 1 cent, so for all your documents you\u2019d spend 4-5 euros per month. This is the smallest part.<\/p>\n\n\n\n If you send, for example, half of those by mail or courier (for a client, partner or any other party), that\u2019s 25 documents sent. Postage can cost 1-2 euros, so at least 25 euros spent here.<\/p>\n\n\n\n However, it all really depends on how much time you spend on handing the documents. Time spent processing one document includes printing, binding, getting signatures from authorised individuals, registering and archiving it, as well as preparing it for sending by mail or courier if needed. So that can be anywhere from a few minutes to hours, all depending on your processes. Let\u2019s say you\u2019ve got quite fast processes when everything and everyone\u2019s always available and no time is wasted, and take 10 minutes as an average. If an average hourly workforce rate is 9 euros, then 10 minutes cost 1,5 eur. For all 50 documents that would be 75 eur.<\/p>\n\n\n\n So adding everything up, in total in a month your physical document signing costs around 100 euros.<\/p>\n\n\n\n Pay attention that this doesn’t include any mistakes in the process, e.g., reprinting, resending, etc., which in fact also relates to increased amount of workforce.<\/p>\n\n\n\n Electronic document signing<\/strong><\/p>\n\n\n\n When you switch to e-signing, the process changes completely. Electronic document handling means that printing and postage parts can be eliminated entirely, and the workforce required is shortened significantly.<\/p>\n\n\n\n How much does that save? By eliminating printing and postage, you already save 30 euros. When looking at workforce, the savings can vary but processing your documents online takes at least half of the physical time (so 37,5 eur), and often \u2013 significantly less time, reducing it to only a few minutes. Why? If earlier we talked that processing a document includes printing, binding, getting signatures from authorised individuals, registering and archiving it, as well as preparing it for sending by mail or courier if needed, with digital processes you only access the system on your computer, upload a document and share it with those who need to sign; that\u2019s it! It literally takes a few minutes.<\/p>\n\n\n\n Yes, it doesn\u2019t mean that electronic signing is totally free. Depending on your electronic signature tool, its price may vary \u2013 it can either be free (e.g., Smart-ID) or have a symbolic cost (e.g., Mobile ID up to 1 eur\/month). The same is with a platform or system your choose to handle your documents at, it can either be free or have a price if it offers a user-friendly UX, additional features for digital document processes, and ensures document security. For example, to electronically sign documents and collect signatures from others in Dokobit portal, for the above discussed scenario, will cost ~38 eur.<\/p>\n\n\n\n So adding everything up, in total in a month your digital document signing costs around 40 euros. And that\u2019s 60 euros less \u2013 more than twice cheaper \u2013 compared to physical document signing processes.<\/p>\n\n\n\n An additional bonus of digital processes is that you\u2019re also able to easily manage documents \u2013 they\u2019re all in one place and it\u2019s easy to find them through search or according to the categories you assign your documents to, this way documents have no way of being lost.<\/p>\n\n\n\n