Are you planning to adopt an eSignature service but you’re hesitant whether or not it can benefit your business? You have come to the right place.
eSignature or electronic signature is a kind of technology offering the same legal position as that of a handwritten signature. This is as long as it complies with all the requirements of the current global standards.
But what are the benefits of an eSignature service? Here are some of the ways on how your business can benefit from this technology.
Paperless Signing Process
To make a paperless and simplified signing process, your business should include eSignatures into your existing workflow. When you digitize your signing process, you allow your business to gather signatures as well as approvals on several documents from employees and clients anywhere and on most devices. And without printing.
The ease of use of an online signature offers a smooth customer experience in different countries and industries since most end-users are already aware of the eSignature process. The streamlined and straightforward electronic signing procedure will enhance collaboration. Hence, fast collection of signatures prevents deals and projects from stagnating. This technology removes hindrances to and encourages project development.
Reduction In Cost
With electronic signatures, your business can save money through different means like lower material costs, reduced labor, and lesser financial impact that can arise due to occasional human errors. Since you will have paperless signing, you will save on paper, shipping, copying, and packaging.
Further, the automation of electronic signing will bypass most human intervention. The process becomes less prone to errors. An eSignature service will secure documents storage and processing through monitoring systems that offer alerts about compliance problems and suspicious records. This resolves processing and administrative issues, and sometimes avoiding them entirely.
Aside from saving money, with an eSignature service, you will save time as well. With this technology, you can speed up contract execution. Signing electronically can get rid of the unnecessary delays when it comes to finalizing contracts. This usually results in improved performance of the business in terms of information management. For many businesses and industries, implementing the speed of time-sensitive agreements is vital to the organization’s operational capacity.
An electronic signature saves time and accelerates the process of signing by removing the tediously traditional page-turning for contracts, eliminating delays in executing, or updating contracts no matter where the location is. In turn, it speeds up negotiations, authenticating them with necessary monitoring features and security mechanisms.
Increased Level Of Security
An eSignature will guarantee improved security, especially for sensitive and confidential documents. Compare this to a traditional handwritten process. eSignature services offer inbuilt security procedures to implement, store, receive, and send electronic documents securely.
In addition to that, the service’s digital audit trail ability can offer secure and easy verification to prevent fraud. An eSignature is more challenging to forge because the software can detect even minor alterations automatically.
With an eSignature service, you can record more data points compared to the usual paper process. The increased security of this method is quite apparent to signers.
The widespread use of an eSignature service and solution is attributed to the fact that an electronic signature is safer and more secure compared to the traditional method. Finally, tamper-evident seals, electronic records, and certificates of completion are a few of the many security features of an electronic signature service.
Improved Employee Experience
Workers want to use self-service applications simply because they can offer instant access to important business data. They like the convenience this entails. In fact, with only a few taps, an employee can sign documents electronically, and get back to their work.
An eSignature service will optimize both the onboarding and recruiting process. For instance, an employee can sign new hire paperwork electronically and start sooner. When you provide tools that will make their work a lot easier, your business will become more productive. You’ll be quite happy in terms of your workforce throughput.
When it comes to business transactions, it is essential that you comply with all regulatory agreements. Tracking paper documents in keeping with compliance may pose some problems when you’re audited. By ensuring the documents are complete and not tampered with, you avoid fines and lawsuits. The encryption technology that eSignature services use will keep your documents safe and compliant with federal and state laws.
Improved Customer Experience
Besides improving employee experience, an eSignature service will facilitate quick delivery of documents for clients. This, in turn, helps speed up other business processes. And this will ultimately improve customer experience.
No one wants to wait, especially customers. Online sharing of documents and electronic signatures will save time, and clients get the needed approval time. This is particularly true in the banking industry in which activities are connected to the money transactions in one way or another.
Additionally, the involved parties will be able to progress speedily. They will know facts about their transactions mostly in real time. These usually include the time and date the documents are signed, the name of the parties involved, and their respective locations.
Because of remote work environments and several waves of lockdowns, the technological landscape is changing very rapidly. These days, businesses can’t completely adapt or embrace digital infrastructures without the help of electronic signature services or solutions.
With an eSignature protocol in place, your business can take advantage of operational savings, productivity gains, as well as enhanced customer and employee experience through easy-to-use, simplified, and scalable document management solutions. You can even improve your customer service with an eSignature.
Those who invest in an electronic signature service won’t only position themselves at the cutting-edge of technological innovation, but also set themselves up for sustainable business operations, particularly during a period of significant disruption and disturbance.
Today, plenty of providers offer eSignature services, and not all of them are reliable to use. If you have decided to give it a try, make sure to choose a trusted service provider. You must see to it that your chosen provider abides by the laws regulating the electronic signatures.
When dealing with a critical transaction, legal protection is crucial. The best provider is the one that has transparent procedures and that shows the steps suppliers or customers took when signing your documents.