Electronic Signature Solutions Powered by Artificial Intelligence
Most enterprises have started using electronic signatures today. Documents are easy to create and sign digitally. Undoubtedly, eSignature solutions have become evident in modern-day businesses. Businesses have started realizing the benefits that eSignatures bring to the table. Let us look at the trends of electronic signature solutions that are expected to come in the future.
AI to Replace Paperwork
Artificial intelligence has gained predominant importance in various sectors, and there is no question that this technology will transform the online document signing process. AI can be an add-on to automated systems; it knows which documents should be generated so that the correct template can be chosen from the library for the signing process.
AI improves the overall efficiency of the process by automatically creating contracts and other documents. All the manual tasks can be eliminated, and the paperwork can be automated. AI and ML can help employees focus on critical activities instead of managing and signing documents.
Electronic Signature Solution Features
The electronic signature solution comes with the feature of verifying the signer’s identity. Identity can be verified either by email authentication, OTP-based authentication, passcode verification, and identity-proof verification. This process ensures the identity to the maximum extent. In addition to the security and reliability of the solution, the eSignature solution provides audit trails that can help the company with audits.
Increased Mobile Usage
Mobiles play a crucial role in our lives every day. Increasingly, documents will be signed digitally using mobile devices. Many security protocols, such as email authentication, passcode, and mobile verification, are in place for document signing. These protocols can help verify your identity by passing the required authentication.
Digitization
Many businesses are using electronic signature solutions for transactions and payment authorizations. This workflow looks promising for time-sensitive processes as the consent can be taken in minutes without waiting for days or weeks.
eSignatures can help reduce customer acquisition costs and conversion rates for sales teams, as transactions can be done in a few minutes. Organizations can benefit from this approach, and most online retailers are integrating eSignature solutions into their processes and payment workflows. This will soon be a game-changer for most enterprises and employees while being a big win for customers.
Final thoughts
Electronic signatures transform the way important transactions are carried out. With contactless tools, remote working, and auto-approval workflows, enterprises are quickly moving towards digitization. However, with the hybrid model, the eSignature solution was a must-have for businesses of all sizes.
