Adobe esignatures Indian Market Study
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1 Adobe esignatures Indian Market Study September, 2017 Sept,
2 Indian esignature market forecast Indian esignature Market Size in Revenue and Transaction Market transactions - (Indian market in millions) % CAGR in transaction volume terms Key Drivers Fastest IT spend growth among the major economies of the world 8% in 17 and 10% in 18. Rapid digitization of the economy. Significant focus on customer experience and improving operational efficiency * 2017* 2018* 2019* 2020* 0 Assumptions: Based on total esignature transactions in the Indian market from Forrester forecast Based on price per esignature transaction using Forrester collected price data from vendors - and average of simple click wrap to KBA authentication *Forrester forecast 2
3 There is a clear need for esignatures which has not been addressed well by existing technology solutions The esignatures statement that best applies to your enterprise Defines a clear need that is addressed completely by existing technology 20% Defines a clear need in my enterprise that is only partially addressed by existing solutions 66% Defines a pressing need in my enterprise not addressed well by existing technology solutions 14% Base: 305 Business and IT decision makers and managers across regions and industries in India 3
4 Most of the companies surveyed have started their digital transformation journey for electronic signatures Where would you say your firm is on a fully analog to fully digital spectrum, as regards esignatures? (On a scale of 1-10 with 1 being fully analog and 10 being fully digital - select NA for don't know) Overall Grouped for 5-10 by Industry 10 = Fully Digital Weighted average % 11% 10% 15% 18% 26% ecommerce Telecom service providers IT/ ITES Government & Public Utilities 28% 55% 66% 74% = Fully Analog NA 0 3% 7% Banking and Financial Services Pharma and Manufacturing 28% 26% Base: 305 Business and IT decision makers and managers across regions and industries in India 4
5 Majority of the business and IT leaders believe that having a complete digital experience is important How important to your enterprise is providing a complete digital experience i.e., eliminating any wet signature process? Business IT Very important Important Somewhat important 16% 15% 22% 28% 56% 60% esignatures saves us time and money and improves operational efficiency. This is why our BPM scope covers implementation of esignatures and digital signatures - GM, IT of a major Indian Utilities player Not that important 2% 1% 5
6 Firms are keen to eliminate the wet signature process across industries How important to your enterprise is providing a complete digital experience i.e., eliminating any wet signature process? 84% 82% 62% 51% 51% Very important Important Somewhat important Not that important 70% 82% 78% 75% 75% 45% 69% 22% 16% 17% 31% 31% 14% 8% 8% 30% 23% 21% 6% Banking and Financial Services Telecom service providers ecommerce Government & Public Utilities IT/ ITES Pharma and Manufacturi ng N = 73 N = 35 N = 35 N = 40 N = 60 N = 62 6
7 Secured connection across organizations, analogue process replacement, and straight-through process automation are top three drivers that make esignatures valuable What additional drivers may make esignatures valuable to your company? Help connect people across organizations in a secure manner 75% Help replace analog and paper-based processes to improve operational excellence Help automate straight-through processes 58% 66% Improve support for new digital products and services we are implementing 57% Help to connect cloud-based applications more quickly and easily Improve support for new mobile apps that we plan to introduce to match advances in consumer technology 36% 35% esignatures saves time and logistics costs and improves inter-office communication GM, IT of a major Indian Utilities player 7
8 Business leader believes customer experience is where most of savings can be expected where IT thinks on operation efficiency In which of the four areas have you seen or expect to see the highest savings? Business IT Operation efficiency 49% 48% Customer experience 27% 37% Enhanced quality 9% 9% Business agility 6% 14% 8
9 More sophisticated signature solutions are required by most of the organizations surveyed Qualified signature and advanced signature use cases (rank up to three) We will require the true qualified signature as we have highly secure, e.g., money transfer use cases 43% We would use the advanced signature for most cases but would want a provider that supported both 41% We would be satisfied with the advanced signature 18% The Government or best practice requires qualified signatures for transactions related to our business 25% We have not considered the question at this point 29% 9
10 Majority of the interviewees prefer their esignatures SaaS hosting location to be in APAC or India Where are the ideal hosting locations for your SaaS solution? Data residency must be in India 57% Data residency can be anywhere in APAC 17% Anywhere in the world 27% N = 144 Source: A commissioned study conducted by Forrester Consulting on behalf of Adobe, Aug,
11 Reliable in-country support is ranked as #1 attributes that buyers seek in an esignature provider What are the key attributes potential buyers look for in an esignature solution provider? Reliable in country support 69% Full Digital Signature i.e., management of qualified certificates 64% Ability to customize application to meet workflow requirements Cloud based Digital Signature service Low cost per transaction or envelope Financial stability 56% 50% 41% 38% Early adopters were internal communications but now digital signatures are widely used by even sales and marketing teams CIO of a major Indian Bank 11
12 Adobe is the #1 vendor of choice when consider buying esignatures solution Which are the top vendors enterprises would consider while making a buying decision? (Select at least 2) Adobe 75% DocuSign 42% emudhra Packaged APP. vendor e.g., SAP or SalesForce Citrix/RightSignature HelloSign esign Others Systems Integrator or consultant Don t know 4% 2% 1% 33% 29% 27% 26% 19% 12
13 Most of the companies interviewed are looking to invest in esignatures solution in 1 to 2 years time What time period are you looking to make investments in esignatures solutions? 3 months 9% 6 months 44% 12 months 34% 2 years 13% 13
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