Electronic Signatures: How They Are Useful for Your Business
Electronic signatures, also known as e-signatures, are a process to authenticate your identity on an electronic file, such as a sales contract. E-signatures work with encryption technology so you are the only person who can leverage your unique encryption on an electronic file. Several employees have embraced this technology while others remain skeptical and follow the manual signing process.
Like other technological benefits, electronic signatures also has measurable benefits for your organization, some of them are listed below.
Authenticity
The primary advantage of an electronic signature is authentication. With e-signature software, there is no need to print, scan, sign, copy, mail, and fax files. No need to worry about fraudsters hacking into your email account and tampering your crucial documents. Electronic signatures prevent imposters from sending fake information and tampering with contracts, hence maintaining the integrity of electronic documents.
Cost Saving
Leveraging electronic signature software eliminates the use of paper and ink. Several organizations have started saving records electronically, thus minimizing the need for storage space. Electronically signing documents also saves time as there is no need to print or scan. Moreover, it is easier to distribute signed contracts, as they can be emailed to multiple recipients. Such advantages save money and increase efficiency in businesses that involve government or healthcare records.
Increases Productivity
Using e-signature technology makes you and your workplace more productive, enables you to close more deals and focus on other major tasks. It also helps you to automate document flow and reduce repetitive tasks. For instance, when you are using the same documents regularly, the templates feature of an electronic signature app comes in handy. Build a document, save it as a template, and reuse whenever needed with minimum edits to fit each particular case.
Better Customer Experience
Customer satisfaction is the most significant factor influencing business success. It is more obvious that your consumers will be happier and more satisfied if your interaction with them became easier and more efficient. Electronic signatures save your customers’ time and make the signing process more convenient for them.
Minimizes Risks
Paper documents are fragile and can be subject to loss or damage. Besides, you may dispatch an agreement, wait for it to get delivered back to you only to find some crucial signatures missing in the document. The electronic signature solution eliminates these risks. It adds your crucial document’s security due to the strong encryption algorithms. No third-parties can access or decipher your critical documents.
Good e-signature software also provides you full control over your workflow. The audit trail feature helps you to track all the changes made in the agreement. Hence, this way you can be sure that the document is safe and secure.
Tracking Progress
At times, you might wonder “Have the recipient’s signed the document yet?” or “Did they check my fax?” Now, you can simply bid goodbye to those days when you had to depend on manual signatures. Adopting electronic signature software makes it convenient to track the progress of your crucial documents in the online dashboard.
To Sum Up
Electronic signatures have paved the path to a paperless future and it is high time to suggest the idea of an upgrade in the workplace. Eliminating paper can save significant resources, time, and money helping to enhance the customer experience.
