Industry sources take Dave Rutkowski, CEO of Performance Improvement Partner’s a reference for defining digital maturity as comprehensive. According to him, digital maturity is the ability of the organizations to respond quickly to take advantage of opportunities in the market based on current tech stacks, staffing resources, and digital technology.
Digital maturity is nothing but an initiative to transform digitally integrating technology, people, workspace, and the work culture. Although there is no pre-defined digital maturity model that suits companies at large, organizations can use digital maturity models to shape their needs to drive business growth and success by refining the business process in every aspect.
According to several worldwide studies, 63% of companies globally have initiated digital transformation earlier than expected by 2020, thanks to the sporadic outbreak of the pandemic globally. 85% of the companies have geared up digitally to enable employee interactions and collaborations. 97% of the global IT directors have said that the COVID has accelerated digital initiatives in 60% of the companies.
According to Deloitte, 43% of companies with accelerated digital transformation could reap the benefits than the industry averages.
Digital maturity does not mean investing heavily in digital technologies. Attaining digital maturity is nothing but assessing the organizational abilities and the current state of digital capabilities to drive operational productivity. Digital maturity offers a roadmap for the organization to emerge out of the shortcomings to facilitate the below-mentioned objectives;
- Operational efficacy
It is interesting at this juncture to observe how electronic document management systems embedded with analytics and electronic signature features drive digital maturity.
Instant Access to Documents
Access to information is the key to success in the data-driven platform environment and the document management tools are cloud-native platforms that offer immediate access to documents to multiple stakeholders, who need not wait for the email transaction to access documents. Companies can provide access to electronically signed documents to the intended customers safely, honoring the international privacy norms with a digital seal. Customers can get access to a tamper-proof document instantly.
Electronic signature software embedded with the document management system automates the workflow of industries in manufacturing, logistics, banking, insurance, healthcare, and more. An automated digital workflow in an educational sector streamlines student application, onboarding students, issuing the student transcripts, and certificates online with a digital seal and a legally valid electronic signature.
Customer-Centric to Promote Convenience
Companies can drive digital maturity by building an efficient digital ecosystem at every stage of their operation, including production, supply chain, delivery, sales, customer service, and post-sales using a digital document management platform. Companies can create customized documents with their logo on the backdrop as a watershed mark. Companies can serve their B2B and B2C customers by instantly exchanging documents and information, eliminating lethargy and uncertainty in signing sales deeds, rent agreements, new project deals, vendor agreements, and third-party agreements. A document management system aids companies in serving customers in a more personalized manner.
Enhanced Efficiency with Digital Work Environment
Companies can drive efficiency, promoting a paperless, digital work atmosphere. A document management system preserves company agreements, trade contracts, employees’ data, and inventory in a central repository by allocating a digital indexing number to each file. Document management system facilitates digital archiving and retrieving of data and documents within no time to avoid mismanagement and file tampering. Companies can sign all the documents officially, using an electronic signature to facilitate digital audit trials to enhance customer loyalty by serving clients efficiently.
Remain Flexible, Swift, and Agile.
Organizations can act swift and agile by switching to a digital environment to provide an enhanced customer experience that is highly integrated and efficient. Electronic signature tools embedded with a document management system are perfect on the cloud or office premises. The small, medium and large industries can deploy this tool to automate their workflow and daily office routine.
Innovation Personified as Electronic Signature Tool
The electronic signature tool can be seamlessly integrated with analytics and a document management system to integrate data from various departments within the company and outside to build a powerful dashboard to design marketing, sales, media, and branding strategies to drive growth and success.
Enhanced Operational Efficiency
Companies can help employees focus on being more productive by reducing time spent on manual data filling and repetitive paper and documentation work. Organizations can also save time, cost, and efforts on paper-based documentation of agreements, trade contracts, sale deeds, and manual processing of data. Companies can create documents with customized templates. Companies can import data from the devices, automatically. They can save money spent on printing, scanning, photocopying, and dispatching documents to various global destinations instantly. Multiple recipients and stakeholders can get access to the documents straightaway from the cloud.
Customer Insights to Provide Personalized Customer Services
Electronic signature tools are embedded with AI analytics to draw inferences on customer behavior. Companies can use this information to design products and services that customers wish to buy. Companies can design successful campaigns to reach customers with effective marketing communication with the inputs in hand. Digital transformation is taking the industries by storm. Companies can meet customer expectations by shifting to cost-effective software tools to build a digital environment at an affordable cost.
Enhanced Product or Service Quality
A bank or an insurance company can save at least 80% of the turnaround time spent on the traditional operation system for opening bank accounts or settling insurance claims. Hospitals can streamline the patient health records to store in the central repository for the doctors to access them for issuing digital prescriptions or clinical diagnosis reports. The hospitality sector can sign vendor agreements remotely using any device, including a mobile phone to offer efficient customer services like reserving hotel services, customer onboarding, and checkout.
Digital maturity does not mean organizations investing heavily in all the latest digital technologies. Digital maturity helps companies to assess their position in the marketplace to drive strategies to enhance operational efficiency to enhance customer expectations. Electronic signature software builds the essential digital ecosystem to enhance employee productivity. Organizations can shift to the digital document management system to streamline mail communication, workflow, and document management to enhance quality. Companies can integrate this software with the existing technologies in use to increase operational efficiency and productivity to drive growth and success.