One step closer to paperless!

Any of our new and existing clients will be able to tell you that, when it comes to onboarding a client or implementing financial advice, the volume of forms that need to be completed and signed can be substantial, so any reduction in the waste associated with printing and signing these forms is a win!

What have we been doing to reduce our physical waste?

From the very start we have utilised ongoing electronic signature software, such as DocuSign or Adobe Sign, to capture client signatures without the need to print a physical copy of forms.

While acceptance of this technology is on the rise (and with COVID lockdowns accelerating the adoption of acceptance by many of the product providers we deal with), there are still a few barriers to moving to completely paperless signing, such as:

  • Some clients are not comfortable / confident completing e-signing at home without assistance
  • When clients are in the office, having physical forms to sign then and there ensures we have everything we need before they leave the meeting
  • Some clients, while comfortable with electronic signatures, are very busy and never get around to actually logging into their emails and signing the forms (taking additional time from our day chasing them up and slowing down the implementation of their advice)
  • Some forms, such as superannuation death benefit nominations, generally cannot be signed electronically

What are we doing to move closer to being 100% paperless?

We have just incorporated in-person electronic signing into the business, allowing clients to sign off on a majority of forms in office on a tablet while meeting with their adviser (without the stack of paper needed).

What benefits does this provide?

In addition to the obvious environmental benefits of moving to a paperless office, some other benefits of electronic signatures include:

  • Reduced processing time (as printing , adding signature flags, stapling, getting signatures, removing staples, scanning, filing, and shredding physical forms is very time consuming), providing us with more time to provide our clients with the advice and assistance they want and need.
  • Reduced ongoing costs – printers, paper, and especially toner adds up over the year!
  • Better data – when we print and scan forms back into the system, we are left with a PDF that is effectively an image of the original form, limiting our ability to use this information going forward. Using electronic signing allows us to retain the form in its original format, letting us search within the document and copy information that has been completed, making the end document much more usable from a data perspective.
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