Finance departments are re-evaluating how they allow customers to transact with their businesses. That’s because 58 percent of European consumers would choose to deal with an organisation that provides options for completing transactions digitally in favour of a company that doesn’t.
Those that fail to move with modern payment methods stand to lose money and customers at an increasing rate.
This is just one of the findings of new research by DocuSign exploring the digital appetite within finance across Europe. The demand to do business digitally is increasingly present. It is an expectation that finance professionals are trying to meet; 52 percent recognise digitising processing could reduce costs.
Finance food for thought
An overwhelming 93 percent of organisations in Europe believe that they should be doing more in terms of going digital, yet many positive initiatives are being frustrated by restrictive structures or attitudes within the workplace. Interestingly, 30 percent of business professionals cite finance as a department holding back digital progress.
One of the conclusions reached in DocuSign’s research is that management teams simply must create an atmosphere in which innovation can thrive. This will only be achieved if the heads of departments are given the autonomy to make their own decisions.
After all, it is they who appreciate the specific demands of their customers more than anyone else. A failure to do so will encourage a digital delay to spread across an entire organisation, not long before significant market share will be lost to competitors.
Other insights into finance decision makers’ digital expectations include:
- A third (36 percent) of people working in finance consider security to be a specific benefit of implementing e-signatures
- More than half (59 percent) in finance are signing documents on a daily basis
- 69% of Europeans have had problems completing a transaction due to paper processes this year
Find out more by downloading our free eBook, How to Meet Digital Expectations in Finance: A European Study.