NEW YORK, April 17, 2017 /PRNewswire/ -- With tax season here, millions of businesses large and small are scrambling to complete their annual filing or at the very least, plan for an extension. Bemoaned and bothered by the annual responsibility, businesses that play it smart, nevertheless, can save a lot of money.
But smart tax filings aren't the only way businesses are looking to save money. Savings can be just as likely by implementing processing efficiencies that result in a reduction in returns. This is especially true when relying on electronic signatures to complete customer transactions. And E-Complish, a leading payment solutions provider, is pleased to offer exactly these capabilities as part of its EDoc software.
Considering that the use of e-signatures is growing at a rapid rate of around 32 percent from 2015 through 2022, now is the time businesses should be investing in these important technologies. By some estimates implementing e-signatures can cut admin time by up to 93 percent.
Designed as a means to formalize a single payment or payment plan, e-signature forms come as part of a document with E-Complish's EDoc software and it comes pre-populated with payment details and information. The consumer receives an email for the EDoc and signs the agreement approving the payment or recurring payment plan.
"Whether we're talking about digital signatures, which are more like a fingerprint, or electronic signatures where consumers can trace with their finger or a mouse their names onto a document, the trend is clear: this is the technological format businesses are heading toward and consumers increasingly expect that these services will be delivered," says Stephen Price, E-Complish's CEO. "It is E-Complish's goal to help businesses upgrade their existing consumer interface and do so in a way that is seamless, efficient, and in turn lowers consumer chargebacks and disputed ACH transactions."
By using the EDoc system, businesses can track the entire transaction process. EDoc provides an audit log showing the entire history of a document. This includes uploading, adding elements, viewing, signing, and who took each of these actions. Employers will also see the date, the IP address, and which platform was used (web, iOS, Android). Best of all is that consumer signatures are easy — they can be uploaded, typed, or drawn to produce a great looking signature. The invitation to sign the document is by way of email and is unlikely to end up as spam.
The entire E-Signature/EDoc process follows the Electronic Signature Act guidelines and is stored on the company's servers for safekeeping and for future retrieval. Best of all, EDocs allows for maximum flexibility on who has access to the data and who does not. You decide who on your team has administrative responsibilities and then enable personnel to view or approve documents.
"Ultimately, our research shows that our e-signature system, combined with the EDoc software reduces charge-backs and ACH returns by 20 percent to 30 percent," Price says. "This is a very significant efficiency improvement and in some cases could be the difference between a company's profitability or its loss. Tax season may be the time of year when businesses are eager to receive their tax refund, but E-Complish's E-Signature capabilities, combined with the company's EDoc software, may prove the best 'discount' yet."
Since 1998, E-Complish has provided merchants around the country with top online and over-the-phone payment processing services that keep customer data secure and make it easier for retailers to manage transactions. E-Complish uses the latest groundbreaking technology to design payment processing services that deliver ease of use, accuracy and dependability, personalization capabilities, and automation that improves productivity.
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