Signulu – Blogs

In the fast-paced world of procurement, speed and efficiency are essential. Whether it’s securing a new supplier or finalizing a supply contract, delays in approvals can cost businesses valuable time and resources. Traditional paper-based approval processes often slow things down, leading to frustrating bottlenecks. Enter e-signatures, a simple yet transformative solution that can streamline the procurement process, making it faster, more secure, and less error-prone.

Speeding Up the Procurement Cycle

Let’s imagine your procurement team is ready to sign a new supply contract. In the old days, this would involve printing documents, routing them for physical signatures, and scanning them back into the system. Not only is this time-consuming, but it can also lead to lost documents or misplaced pages. With e-signatures, the entire process is digital, and signatures can be collected in minutes rather than days.

E-signatures allow procurement teams to send out supply contracts to vendors digitally, where they can be signed and returned in a fraction of the time. This means your team can move faster, securing deals without the delays of traditional paperwork. In an industry where timing can affect supply chains, e-signatures are a game-changer.

Simplifying the Approval Workflow

Procurement often involves multiple levels of approval before contracts can be finalized. From legal teams to finance departments, there are various stakeholders that need to review and approve contracts before they are signed. Coordinating these approvals manually can be a logistical nightmare, with documents bouncing between different offices or departments.

E-signature platforms simplify this by offering a streamlined approval workflow. Each stakeholder can review and sign the document digitally, ensuring that every step in the approval process is documented and tracked. Automated reminders ensure no one forgets to sign, keeping the procurement process moving smoothly and avoiding any unnecessary delays.

Ensuring Compliance and Reducing Risk

In procurement, compliance is crucial. Contracts need to meet legal and regulatory standards to protect the business. Traditional methods of handling contracts can sometimes lead to errors, whether it’s an unsigned page, a missing document, or a misfiled agreement. E-signatures reduce these risks by providing a clear, trackable process that ensures all required signatures are collected and that contracts are securely stored.

Most e-signature platforms, like Signulu, also offer encryption and authentication features that ensure the integrity of the document and the identity of the signer. This added layer of security gives businesses peace of mind that their procurement contracts are compliant with both internal and external regulations.

A Better Experience for Suppliers

It’s not just the procurement team that benefits from e-signatures—suppliers do too. Instead of dealing with the hassle of printing, signing, and mailing back contracts, suppliers can simply sign digitally, from any device. This creates a more seamless, efficient experience for them, which can strengthen your business relationship and foster better collaboration.

Why Choose Signulu?

Signulu’s e-signature platform is designed to make the procurement process as simple as possible. With features like Document Summarization, procurement teams can quickly review key terms of supply contracts before sending them out. The GenAI Chatbot is also available to answer any contract-related questions in real-time, making it easier for all parties involved to stay informed throughout the process.

Conclusion

E-signatures are transforming procurement, helping teams speed up the approval process, reduce risks, and improve collaboration with suppliers. By eliminating the need for physical signatures, e-signatures create a more efficient and compliant workflow, allowing procurement teams to focus on securing the best deals.

If you’re ready to streamline your procurement process, try Signulu with a free 14-day trial. Experience how e-signatures can help you simplify supply contracts and take your procurement strategy to the next level.

It was a cold winter night, and the streets were deserted. Harsh, the dairy store owner decided to close the store for the day. So, he sat down to place the milk order for the following day. He called up the local milk vendor and placed an order for 120 liters of milk.

The local vendor listed it. He called up the county milk vendor and forwarded the order to him. The county milk vendor accepted the order and forwarded the same to the zonal owner. The order somehow slipped his mind and the zonal owner forgot to inform the production unit about the same while placing the order for the other stores.

Unaware of this, Harsh opened the store at 3 a.m. the following morning and waited for the delivery van to deliver the milk. The dawn broke but the van never arrived. As usual, individual milk sellers turned up at 4 a.m. to collect milk from his store. On seeing that there was no stock, they went to another store and purchased milk from there.

What a bad reputation for Harsh and his store! Harsh had to suffer financially too for no mistake from his side.

To bring such problems to an end, Signulu, the advanced cloud-based eSignature platform, has brought forth an excellent solution by facilitating the vendors to get approvals electronically. The vendor can invite multiple stakeholders to sign and approve the order. And the best part is, the vendor can track the progress of the document. Meaning, the vendor can specifically know if the document is signed by all the recipients or if it is pending or if it is being under review.

Speaking of Harsh’s case, had the vendor used Signulu, he would have understood that the zonal owner forgot to inform the production unit about his order. At this point, the vendor would have intervened and reminded the zonal owner.