As fast as technology evolves nowadays, we still rely on a surprising number of old processes to get high stakes work done. For example, are you still relying on hard copy contracts that require a wet signature? When we consult with a client, one of the biggest areas we suggest for improvement is automation – eliminating outdated manual processes in exchange for automated flows. Automating contracts and digital signatures is one of the easiest ways to reduce double-handling and put valuable time back in your teams’ hands, not to mentioned speed up the process.
Automating the creation and sharing of contracts has a multitude of benefits. One of the main drawcards for automation is consistency. Once you have a template and you’ve set it up in a system like Power Automate, you can ensure every contract that goes out is uniform in design and wording.
Automating contract creation where the language is pulled from a template – a single source of truth – means that there’s minimised room for errors. And by adjusting permissions settings, you can feel more confident that unauthorised users within your team can’t accidentally alter crucial legal wording. The only alterations needed are client details and the scope of the work being agreed to. For external users, we can send them an online form to capture critical information and use this to generate the final document.
Another huge pro is freeing up time better spent on more productive outlets. Instead of your team creating and sending unique contracts with every new sale, client, tenant, etc, they’ll simply select the correct template then set a workflow into action. The contract will automatically be sent to the nominated recipient via email. They’ll be prompted to enter their details – and add their digital signature.
You can also automate what happens once the contract has been signed and submitted/returned. Most organisations set workflows in motion to have the contract land in a nominated library with other internal documents. This eliminates even more unnecessary double-handling.
Firstly, you might be wondering what a ‘wet signature’ is – it was mentioned in the opening paragraph. A wet signature is the good old pen-and-ink scribble that kind of looks a doctor signed your name in a hurry. It’s what you’ve undoubtedly used hundreds of times on new ATM cards, hard copy contracts, passport renewals, etc. Signatures remain just as important as they’ve ever been, but with emails and file sharing replacing snail mail, there needed to be a better system.
Enter, digital signatures.
A digital signature is a type of electronic signature that is incorporated into emails and documents. Like signatures done by hand, digital signatures are unique to each signer. There are specific protocols in place to ensure the validity and security of digital signatures. An algorithm is used to generate ‘keys’ – two numbers, one of which is public and the other private. They are approved by the ATO (Australian Taxation Office) and are considered appropriate in almost 99% of cases.
When you sign a document online, a signature is created using your private key, this is a unique identifier of you and your computer. The algorithm creates a ‘hash’, encrypted data that matches the signed document, which is the digital signature. This signature is also timestamped to add another layer of validity. Should either the sender or signer make a change to the document after this has happened, the signature is invalidated.
Digital signature providers like DocuSign and AdobeSign often require a reliable Certificate Authority (CA) to ensure signatures stay secure and safe.
Automating contract creation and distribution, as well as collecting digital signatures, gives your team more time for the important things. Propelle works with organisations of all sizes to create automation solutions that streamlines time-consuming tasks. Let our consultants help you find more time for your team to get their jobs done. Sign up with us today.
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