Digital Tools Reshape Mexican Business Strategies
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Digital Tools Reshape Mexican Business Strategies

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Tomás Lujambio By Tomás Lujambio | Journalist & Industry Analyst - Mon, 09/25/2023 - 12:55

Mexican companies contemplate the implementation of digital tools to foment three core business strategy priorities: efficiency, productivity and overall safety of their operations. A recent study led by IDC and DocuSign reveals that 36% of Mexican companies recognize the need to leverage emerging technologies to support their business strategy. However, only 22% are actively investing in technological innovation to enhance their operations, indicating substantial market growth potential for tech companies.

Since the COVID-19 pandemic catalyzed the digital transformation, companies worldwide have shifted their focus from legacy tools to digital tools to ensure business continuity and enhance efficiency. In response to associated challenges, DocuSign has identified that companies’ investments in IT services have increased by 7%, while software expenditures have grown by 10%. This surge in technology investments underscores the growing recognition of digital tools as critical assets for modern businesses.

To accelerate the digital transformation of companies, DocuSign recommends the integration of essential IT innovations. Among these innovations, identity verification, smart contracts and legal validity stand out as fundamental digital resources for companies looking to improve their transition to the digital realm. According to DocuSign, these technology solutions are set to enhance organizations' agility, efficiency and security by serving as pivotal components of their digitization process. 

This is corroborated by an IDC study, which found that electronic signatures had an instrumental role in propelling the digital transformations of Mexican organizations. This resource has already found applications in 77% of Mexican organizations, with SMEs reporting a lower adoption rate of 48%. This statistic showcases a clear intention to leverage digital innovations in favor of streamlining repetitive tasks with technology intelligence.

For DocuSign, “it is crucial to understand the market's potential and how leaders prioritize their actions and technology investments. Everyone will have to embark on a new journey based on innovation, change and above all, trust in our digital future," says Eric Rossati, Vice President Enterprise Sales, DocuSign.

In its commitment to enhancing the security of business agreements, DocuSign offers a suite of identity validation tools. These tools include token-based verification, SMS authentication and automatic validation of documents powered by biometric data, such as selfies or fingerprint authentication. Additionally, the company has also integrated generative AI to enhance contract analysis and review. Through data-driven analysis, this digital resource enables companies to identify critical elements within contracts, such as terms and legal clauses, effectively improving stakeholders' decision-making capabilities.

To ensure compliance with both local and global regulations, DocuSign is expanding its digital signature service. DocuSign's signature services now accept fiscal certificates issued by Mexico’s Tax Administration (SAT) when carrying out document signing transactions, in addition to the previously recognized Certification Service Providers (CSPs) certificates.

Photo by:   Image by geralt, Pixabay

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