Impacts of e-Signatures on Business
Emergence of electronic signature has brought a huge transformation to the modern business environment, from planning to the execution of tasks. This digital practice has led to increased productivity at the offices.
Apart from decongesting the offices of ancient fax machines and copiers, it has also led to reduction of the office messengers. This practice is legally binding and has had harmonious integration into any signing process.
What is electronic signature?
This is a digital characterization of your own signature which authenticate and verifies a document the same way as the common conventional wet-ink signature. It is legally binding and all the signed documents are legitimate.
For sometimes now, adoption of this digital signing technology has risen remarkably, more so when dealing with business, legal or government documents.
Benefits of electronic signatures to businesses.
Whether you are a government institution, private agency or just a freelance consulting firm, signed documents is an important factor in running and sustaining your business. On this wise, let’s have a look at various key benefits of electronic signatures:
- Reduced time to signature.
First, the use of electronic signature has revolutionized the speed of document turnaround. It has replaced the conventional time-wasting process of printing, scanning and posting a document and still wait for the recipient to sign and send it back again to you. By using e-signature, documents are processed within seconds, in just a few clicks of a button.
Additionally, it also makes it easy for documents to be signed anywhere and anytime on any device that supports e-signature software. It has also quickened the retrieval of documents so you no-longer have to look through heaps of papers for a document.
- Quicker execution of decisions.
Implementation of decisions, more so in an organizational setting is not a very easy thing. A lot of documents have to be signed and approved by numerous stakeholders. This circulation of document takes a lot of time and delays the implementation process.
However, this is no more as the e-signing has minimized the gap between decision and execution by hastening the formalities related with the approval processes. Stakeholders can now sign off important documents quickly using e-signature allowing more time for execution.
- Increased productivity.
The e-signature app incorporates a template feature which helps you create a document and save it as a template so you can use it as much as you want with little adjustments to fit a particular case.
This in essence saves a lot of time since you do not have to handle repetitive tasks
- More reliable and defensible than wet-ink signatures.
Laws protecting electronic signatures such as electronic signature in global and national commerce act and the uniform electronic act gives the e-signature the same legal status as wet-ink signatures.
Most digital signature solutions apply extra security features, such as bank level encryption and biometric signature record to show the real identity of the signer.
Additionally, these e-signature solutions compel the signer to appropriately fill all the blank spaces provided before sending the document. To maintain the documents integrity, pages sent to relevant parties cannot be tampered with or placed out of order leading to a more reliable and defensible agreement.
- Improves customer experience.
Customer satisfaction is one of the important factors which influences success in any business. E-signatures saves your clients’ time and gives them a more desirable and convenient signing process. They can sign their documents from anywhere and anytime there is a need using their chosen internet enabled device.
- Minimizes risks and ensures document flow.
Use of electronic signatures gets rid of problems related to paper documents such as missing signatures on urgent documents and content damages. Thanks to the strong encryption algorithm, e-signature system increases security to your document ensuring no one gets access to it without your consent.
A dependable e-signature tool guarantees full control over your work flow by letting users follow up on adjustments made on the documents. Thus making sure the document is not tampered with at any point.
Conclusion.
Depending on the needs and systems of an organization, there are a wide range of benefits that can be realized from the use of electronic signatures.
E-signature solutions integrates the use of common business tools such as salesforce, google docs, dropbox and many more giving you all the reasons to invest in one.
