You will save a lot of time and nerves by using a digital signature. But an electronic signature can also have significant economic implications for your business. Take a look what the numbers look like in practice.
In this article, we have calculated the savings for a small to medium-sized company that has introduced an electronic signature to speed up its signing processes, whether documents (contracts, invoices) should be signed internally or externally, by clients or suppliers.
For this purpose we compared the cost of obtaining the signature of 300 documents per month using the traditional method (sending documents for signature on paper) with the cost of using an electronic signature solution with Signosoft’s standard price list.
Suppose we want to send 300 documents with two pages and we have to get the signature of our client on both pages. We roughly calculated the cost of obtaining these documents signed using the traditional signature method and compared the results with the cost of obtaining these two signatures through an electronic signature solution such as the one we offer at Signosoft.
Assuming that each invoice should be sent to the offices of another client in the same country, in our example in the Czech Republic:
Ordinary writing sent by the Czech Post costs 26 CZK (standard 50gr.). Sending 300 letters thus costs 7,800 CZK and together with the cost of envelopes a total of 8,200 CZK.
In the case of sending registered letters for the price of 59 CZK, the price will climb to 18,120 CZK.
If the invoices are sent to the destination by regular mail, the total price of this manual process will be 19,266 CZK.
If it were decided to send invoices by registered mail, the total price would reach up to 29,166 CZK.
They are zero. Documents are prepared, sent and returned digitally signed.
In our hypothetical case, if the company sent 300 documents per month for signing, the price would be 20 CZK per document. In total, 5,990 CZK per month.
None exist because the documents are sent for signature directly from Signosoft.
If a package with a limit of 300 documents was used, the total cost of sending 300 invoices would be 10,249 CZK, which is up to 57.6% less than in the case of preparing paper invoices and sending them to recipients by registered mail.
|||Traditional method||Signosoft||Difference (in %)|
|Material cost||921 CZK||0 CZK||– 100 %|
|Administration fees||10 125 CZK||6 375 CZK||– 37 %|
|Transport||8 220 Kč / 18 120 CZK||0 CZK||– 100 %|
|Subscription||0 CZK||5 990 CZK||100 %|
|Total||19 266 CZK / 29 166 CZK||12 365 CZK||– 35,8 % / – 57,6 %|
|Total (month/year)||||||up to 16 801 CZK monthly|
up to 201 612 CZK yearly
In the above calculations, we came to the price 64, or 97.2 CZK (registered letter) for 1 document vs. 41.2 CZK when using the Signosoft application.
Our clients sign an average of 20,000 documents per week in the application. Thanks to this, it will save up to 1,120,000 CZK per week (1,280,000 / 1,944,000 CZK vs. 824,000 CZK).
During the operation of Signosoft, users of the application have already electronically signed 10,000,000 documents. Our customers thus saved up to 560 million CZK (640 million / 972 million CZK vs. 412 million CZK).
In addition to the obvious cost savings associated with using an electronic signature to sign documents, we should also take into account that the digital process has other advantages over the traditional method of signing documents on paper: