E-Ink Evolves as a New Supply Chain Handshake
As electronics OEM look for ways to increase supply chain efficiency, e-signature and e-contracting capabilities are emerging as an excellent avenue to streamlining the paperwork process.
“The technology around e-signatures has evolved so that it is more affordable and easier to implement,” Andrea Masterton, corporate marketing director at Silanis Technology, a provider of electronic signature products. “When you do anything online, it removed the bottleneck inherent in paper.”
The time savings can be substantial. One Silanis customer in the business to business space reduced their contract signing process from twelve weeks to just one or two days, Masterton said.
On paper the process can take up to 12 weeks, now looking to reduce that to a day or two of approval process. “There are tremendous efficiencies to be gained,” she added.
Further, if there is a dispute down the road, an electronic paper trail is more likely to offer resolution. “There’s a lower risk of the problems that happen when a paper trail is gone or documents are missing,” said Masterton. “With an online signature, organizations can better audit the process and build in workflow rules to avoid mistakes.” For example, a rule might be created that would not allow a contract to be filed unless all signatures are on the document.
Some organizations, though are reluctant to adopt this new approach, most often citing legal ramifications. The concern, though, is overblown. “In the US and even elsewhere, there is e-commerce legislation in place and, not only that, but it’s been in place for a long time, at least ten or fifteen years. That’s plenty of time for case law to evolve.”