eSignatures in Manufacturing – What Manufacturers Need to Know

E-Signatures are Essential for Manufacturing Processes

The manufacturing sector is a multilayered industrial segment that involves the dynamic amalgamation of capital, workforce, and material. Managing the eSign Manufacture industry documents and the overall manufacturing workflow is a formidable task that requires robust documentation and fast execution.

With increasing digital innovation and advanced technologies, industries are quickly adapting solutions in document automation for manufacturing with an edge in workflow management & process efficiency.

Integrated eSignature software is among the most widely adopted technologies, aiming to boost project management by taking document execution entirely online. Electronic signature software in manufacturing company plays an especially massive role in procuring electronic signature manufacturing documents, where businesses rely extensively on contractors, suppliers & vendors to complete projects on time.

Executives in the manufacturing sector require agreements to be streamlined from the draft stage all the way to contract renewal. High-level milestone monitoring, contract activity tracking, and audit-ready signature workflows are also crucial for manufacturers to enhance their operating efficiency in the eSign manufacturing industry.

The manufacturing process involves multiple stakeholders simultaneously working together at different stages to deliver a finished product or project. In these stages, managerial authorization, approval, and tracking are needed to complete each stage.

However, teams are relying less on the physical presence of stakeholders to authorize & sign off on contractual paperwork and eSignature manufacturing documents and prefer digital modes of collaboration. 

Electronic signature software in manufacturing company, with options for contract lifecycle management, helps manufacturers achieve superior efficiency on their contract processes while maintaining a robust audit trail and enabling scalable eSign manufacture document workflows.

Documentation Challenges in Manufacturing

The manufacturing segment faces many challenges at every stage of collaboration as businesses depend on multiple vendors and partners.

Keeping supply chains for raw materials intact, ensuring timely delivery of the finished product to the manufacturer, checking the authenticity of vendors and contractors, and the maintenance of contract workflows to a high degree of efficiency are all challenging tasks in the eSign manufacture industry documents.

Here’s a look at the prime factors that stagnate the manufacturing processes to execute eSign manufacture documents.

• Integration Vulnerability – The manufacturing process and procurement of eSign manufacture documents is complicated due to the involvement of different units to procure the final product. The collection of raw materials and their delivery from vendor to vendor, the warehouse capacity, and the authorization of paperwork in every stage is a strenuous process. Without proper digital integration and management, manufacturing process cycles are delayed, workflows on multiple platforms are scattered, and the production rate becomes low causing insufficient manufacturing plant and cycle efficiency impacting the overall eSign manufacture industry.
• Supply Chain Disruption and Inventory Management – Supply chain disruptions are one of the biggest challenges in the eSign manufacture industry documents. Managing the supply chain means proper inventory management which is difficult when relying on manual capabilities. Manufacturers are not able to complete production due to inconsistencies in the supply chain. Unforeseen shortages of components due to low visibility on eSignature manufacturing documents can push many manufacturing business facilities to shut down. These disruptions expose vulnerabilities in the manufacturer’s supply chain and result in damages to reputations as well.
• Emerging Technologies and Security Risks – The manufacturing sector is highly reliant on technology trends to speed up and streamline the manufacturing process of executing electronic signature manufacturing documents. However, with emerging technology comes the heightened risk of cybersecurity. Regulatory compliance to prevent fraud and money laundering is a prescient challenge for manufacturers. Proper regulatory compliance and authentication can be achieved by integrating with eSign software tools to detect any non-compliance and false authorization. 
• Management Expenses – There is a huge shortage of labor in the eSign manufacture industry documents with efficient and skilled workers always in demand. The rise in labor expenses for manufacturers needs to be balanced out by digitizing certain areas and making them more cost-effective. Project management, document automation for manufacturing & specific operational silos can all be made more efficient & cost-effective using smart technologies like E-Signatures and Smart Contract Management. 

Which Manufacturing Documents Can Be E-Signed?

Manufacturers can employ electronic signature software in manufacturing company to execute a number of eSignature manufacturing documents, these include –

• • Software-generated design documents, technical documents & engineering documents
  • Manufacturing agreements & contracts
  • Non-disclosure agreements (NDAs)
  • Purchase orders, invoices, bills, & financial statements
  • Sales documents, tenders, RFP/ RFQ documents & commercial proposals

E-Sign Process Flow For Manufacturing Documents 

1. Submit a Document Request – First, a request for a document (usually an agreement or contract) is sent via the E-Signature platform.
2. Log In to the Portal – The user logs in to the eSigning portal to view document requests, signature status, and document status on a smart dashboard. 
3. Upload the Manufacturing Contract – Next, the user composes the contract using either the templates available in the template library as per vendor requirements or by uploading an agreement to the platform. The clause library can be used to create contracts in bulk instantly or multiple documents can be uploaded at once.
4. Invite Signers via E-Mail –Once the document is drafted, the next step is to approve and execute the document with digital signatures. The parties required to sign are sent an invitation via email. The user can choose from various eSign methods such as Aadhaar eSign, digital signature certificate or DSC-based eSign, or OTP-based electronic signature. Additionally, the user can get the signers to sign all at once or in sequence as per requirements. 
5. Document is eSigned – The signers follow the link that directs them to the eSigning portal. OTP is sent via email or SMS for authentication. The manufacturing agreement is then affixed with the signature appearances of all the signers and a signature certificate is generated with details such as date, IP address, time stamps, and signer details for future verification.
6. Signed Document Sent to All Parties – After the signature is executed, the eSignatures are affixed to the eSign manufacture documents and sent to all relevant parties. All parties can download the digitally signed electronic signature manufacturing documents which will be emailed to them. A document mentioning the details of the eSign transaction will also be sent for future reference and auditing purposes.

Why Manufacturers Need to Leverage E-Signatures

The pandemic preceded and was partially responsible for massive digital transformation in the eSign manufacture industry documents. With several big players actively going digital-first for both internal processes and customer interface workflows, manufacturers are rapidly implementing innovative technologies.

To experience the full benefits of digitization, the eSign manufacture industry documents and manufacturers should move towards holistic and efficiency-oriented technology. eSign-enabled document execution can help manufacturers unify all their documentation workflows on a single platform, boosting collaborative potential and overall productivity.

E-Signatures can be used to execute and create concrete audit trails across the organization – both internal processes and outward-facing workflows such as contractor verification, client signatures, and  executing eSign manufacture documents such as orders, invoices, sales documents, and relevant agreements streamlining document automation for manufacturing.

eSign and Contract Lifecycle Management (CLM) integrations provide an all-in-one solution that can help manufacturing corporations cut down on labor and maintenance costs while enhancing efficiency and productivity.

Here are eight advantages of utilizing eSignatures in the manufacturing industry

• Improved Contract Cycles – By leveraging integrated eSign along with CLM, complicated manufacturing workflows are digitized and enhanced with templatized contracts, real-time alerts, status tracking, and a smart dashboard.
• Cost-effective Digital Workflows– Digital documentation in the eSign manufacture industry documents cuts down operating, and maintenance costs involved in eSignature manufacturing documents procurement, courier services, and inventory.
• Eco-friendly Manufacturing Documentation – Contract Lifecycle management with integrated eSign streamlines and digitizes formerly paper-based workflows. Manufacturers can reduce their carbon footprint and save on paper costs with eSign-enabled documentation.
• Remote Accessibility – Vendors and contractors can easily access contracts remotely using any device. All authorized users receive custom alerts when contracts cross a specified milestone, and vendors can approve and sign documents electronically within minutes.
• Data Security – Cloud storage keeps all crucial document data safe and sorted. The documents stored are digitally encrypted and can only be accessed by authorized individuals. Cybersecurity and disaster recovery are ensured with industry-grade authentication protocols and secure audit trails.
• Transparent Authentication – Electronic signature software in manufacturing company expedites the contractor and vendor signature process. The audit trail containing eSignature transaction and signer details is also provided to boost transparency, enhance status tracking contract status, and ensure milestone obligations.
• Hassle-Free Digital Integrations – Integrated eSignature tool offers a more efficient way of performing administrative tasks. On the digital platform, all the required signatures can be acquired remotely. The software can be integrated with existing systems for Capacity Resource Planning (CRP), Enterprise Resource Planning (ERP), and Human Capital Management (HCP).
• Improved User Experience – E-Signatures with intuitive and secure authentication protocols help build trust between parties and transform the overall business experience. This helps strengthen the relationship between manufacturing companies and their clients or suppliers.

Switch to Digital-First Manufacturing Documentation with SignDesk

SignDesk, a global SaaS-based digital transformation solution provider that provides eSignature and contract management solutions catered to industries across the board. Our solutions are currently utilized by enterprises across BFSI, retail & FMCG, pharmaceuticals, and real estate sectors. The AI-powered eSign tool “ink.it”, a smart software that helps streamline the document execution process both pre and post-signature is among our most popular solutions.

“Ink.it” leverages extensive template libraries, OTP and DSC (Digital Signature Certificate) capabilities, and a smart dashboard for status tracking, to help enable electronic and digital signatures for manufacturing documents and all custom documentation.

We also offer an eSign-integrated CLM solution to help manufacturers manage contract cycles right from contract drafting through to E-Signatures and contract renewal in the eSign manufacture industry document. Our CLM solution is equipped with contract analytics, digital negotiation capabilities, eStamp integrations, contract activity tracking, and a centralized repository to store and search for all your contracts.

Talk to one of our solution consultants for a quick look at our eSign and CLM solutions in action!