Signature-Dependent Processes & the Use of Digital Signatures in the Legal Market

1. CoSign by ARX | July 2014
An ALM survey conducted on behalf of CoSign by ARX
Signature-Dependent
Processes & the Use of
Digital Signatures in the
Legal Market

2. Background
In May 2014, CoSign by ARX teamed up with ALM to conduct a survey targeted at corporate legal
departments, law firms and government agencies to understand how signature-dependent
processes and digital signatures play a role in their day-to-day operations. Particularly, we sought
to uncover legal professionals’ perspectives on:
Use of digital signatures and usage readiness
The efficiency impact of using digital signatures versus physical signatures
The benefits and concerns about digital signatures
The departments most interested in digital signatures and most reluctant
Objectives

3. Summary
202 respondents participated in the survey. Nearly half of them (47%) work in a corporate law
department while 33% work in a law firm. By position, the three largest groups were managing
partners/partners (22%), in-house corporate counsel (17%) and CLO/general counsel (16%).
Respondent profile
Key findings
40% are already using digital signatures. Another 39% are ready or near ready to adopt them.
49% of documents are printed for the sole purpose of collecting a signature.
47% sign at least four times a week; 31% sign 8 or more times per week.
An average of 1.24 days are added to processes due to paper-based signatures.
87% cited ‘security and integrity of sensitive data’ as the most important factor in a digital
signature solution.
The top response for biggest benefit of digital signatures was ‘increased efficiency’ (62%).
64% cited ‘security, control, integrity and location of sensitive data’ as the top concern about
digital signatures.

4. In which of the following ways are you involved in processes/documents that require a
signature?
Detailed Findings (1 of 10)
Other involvement
Not involved/knowledgeable of
signature processes
Sign documents 4-7 times/wk
Sign documents 0-3 times/wk
Responsible for signature processes in
organization
Sign documents 8+ times/wk
4%
5%
16%
21%
23%
31%
Total responses: 202

5. Describe your firm/department
Detailed Findings (2 of 10)
Other - 15% Government agency - 5%
Medium (11 to 99
attorneys) - 6%
Large (100+ attorneys) -
6%
Small (1 to 10 attorneys) -
21%
Law department - 47%
Total responses: 189

6. What is your position?
Detailed Findings (3 of 10)
Other
HR Management
Marketing Staff
IT Management
Marketing Management
Admin Staff (paralegal, legal assistant,…
Of counsel/other attorney
Finance Management
Sr. Associate/associate
Administrator
Dep/Asst General Counsel
CLO/General Counsel
In-house corporate counsel
Managing partner/partner
6%
1%
1%
2%
2%
2%
3%
4%
5%
7%
12%
16%
17%
22%
Total responses: 189

7. Does your firm or company currently use digital/electronic signatures?
Detailed Findings (4 of 10)
Yes, currently using
them
40%
Plan to implement
in next 12 months
12%
See the need but no
plans at present
27%
Don't see the need
19%
Other
2%
Total responses: 187

8. In the areas you are responsible for, what percentage of documents is currently or used
to be printed out for the sole purpose of adding one or more signatures?
Detailed Findings (5 of 10)
25% or less
29%
26% to 50%
13%
51% to 75%
17%
76% to 100%
34%
I'm not sure/I don't
recall
7%
Total responses: 173
*Calculated from rangesAverage % Documents Printed*: 49%

9. On average, how much time is currently or used to be added to a document requiring
two or more signatures as a result of requiring physical signatures?
Detailed Findings (6 of 10)
A few hours
39%
1 day
17%
2 to 5 days
24%
More than 5 days
2%
I'm not sure/not
aware of timing
18%
Average Time Added*: 1.24 days Total responses: 173
*Calculated from ranges

10. Which of these factors are/would be important for you in a digital/electronic signature
solution? Please rate each factor on a scale of 1 to 5 where 1 is least important and 5 is
most important.
Detailed Findings (7 of 10)
7%
35%
60%
68%
69%
70%
78%
81%
86%
87%
0% 20% 40% 60% 80% 100%
Other
References from outside legal counsel or legal
services providers
Vendor reputation
Integration with existing document management
systems
Pricing
Control over user management/governance policies
Acceptance by the courts
Ease of implementation
Ease of use
Security and integrity of sensitive data
Total 2 Top Boxes
5 - Most important
4
3
2
1 - Least important
Total responses: 167

11. What would you say are the biggest benefits of implementing digital/electronic
signatures? Please select up to 3 benefits.
Detailed Findings (8 of 10)
Other
Improved user satisfaction & trust (employees, partners, clients)
Environmental considerations (reduce paper waste, transportation
impacts, etc.)
Enabling mobile signing (for remote/traveling employees)
Lower costs (eliminating paper-related expenses)
Establishing a paperless office/full digital automation
Complying with legal, retention, audit requirements
Shortened turnaround time on signature approvals
Increased efficiency (saving time on printing, etc.)
1%
10%
17%
35%
36%
39%
39%
50%
62%
Total responses: 165

12. What would you say are the main reasons for concern regarding implementing a
digital/electronic signature solution? Please select up to 3 main concerns.
Detailed Findings (9 of 10)
Total responses: 163
We don't see the business benefits
Resistance from employees
Management doesn't consider it a worthwhile investment
Don't require enough signatures to make it worthwhile
Have higher priority IT projects
Concerns of compliance with regulations/audit requirements
Concerns with acceptance/legality of digital signatures
Concerns of security, control, integrity, location of sensitive
data
8%
13%
20%
22%
27%
50%
56%
64%

13. Who in your organization would you say was/is the most interested in adopting
digital/electronic signatures? Who was/is the most reluctant? Please pick up to three
groups in each row.
Detailed Findings (10 of 10)
Total responses: 164
41%
25% 25%
20% 19%
16%
12%
7%
4%
28%
15%
7%
11%
15%
22%
20%
15%
12%
Most interested Most reluctant

14. Check out the infographic of survey results:
http://bit.ly/lglinfographic
Try CoSign digital signatures FREE for 30 days:
http://bit.ly/lgl30trial