What is an Electronic Signature?
If you are not aware of the advanced technologies and software available in the market that can make your business operate seamlessly in every possible way, you might get confused after hearing words like e-signature solution or app for signing documents.
You might wonder what this software means and how they function. There are many definitions available on the internet that explain the meaning of document signing software. Here, we will surely try to understand the meaning of electronic signature.
To put it in a simple word, a digital signature is an electronic reflection of an intention of a person to accept and verify the content of a document/file/record/message by signing it. It shows the consent of the signer. Just the way any traditionally made signature has legal value or acceptance in the court of law, electronic signatures too are legally backed provided they are made using software that is developed as per the laws of the land. Any document signed using electronic software would not be considered invalid just because the signature is electronic. So now that you have understood the meaning of electronic signature let us understand why businesses are using digital signature solutions and what makes them so great:
- Simpler and Smooth Signing Process
It is easier to sign any document using paid or free electronic signature app. If you are new to it, you may need some time to understand how to make a signature. You might find it unusual to use your finger as a pen to draw a signature on the screen of your device. But, in fact, document signing software has made the signing process simpler and smooth. Right from uploading an electronic document to adding signatories to getting it signed and maintaining the signed document, everything can be done seamlessly with an e-signature solution. Even a non-technical person can use this app without any help.
In the case of traditional, wet ink signature, it business and the signatories have to go through multiple stages like printing the document, xeroxing it, couriering it to all the parties, scanning the signed document or sending the signed document to the business via courier etc. has to b done. Even after getting the signed document, it has to be maintained in a way that the document does not get damaged. All this makes the process clutter and there is hardly any scope for speed and security of the data.
On the other hand, when you sign a document using an e-signature solution, things become smoother. It is easy to use digital signature software. Signatories can sign the document from any computing device, so they do not have to visit the office physically. The process of signing is simple and does not cost signatures anything.
- Ease of Use & Convenience
Your business can get a competitive edge with the use of an e-signature solution. This is the era of the internet revolution and globalization where businesses do not wish to stay restricted to the local market; they want to connect with the global customer base, make global partnerships, look for investments from across the world and more. These aspirations do not allow them to stick to traditional business methods. The worldwide market is more competitive and volatile and in order to sustain in such a market businesses have to be quick, secure, flexible, easily reachable and most of all cost-effective. And when it comes to establishing a global presence, making global deals, the importance of electronic signatures gets more emphasized.
With Digital Signature Solutions, the signing process becomes smooth irrespective of the location of the signatories and the number of parties involved in the signing process. When the signatures take place online, location, devices, time, distances between each party, etc does not matter. Here, electronic documents are drafted and shared online for electronic signatures. And once the signatures are made, the document is stored safely with limited access in the cloud. All this process, if performed in real-time, does not take more than a few minutes. Even if the signatories sign it within the given time, the process should not take more than a few hours.
Using Digital Signature Solutions helps your business, clients, partners, to make signatures in a secured, digital environment with the utmost flexibility ever. It is undoubtedly the most convenient and smooth software ever used to sign a document. If you are using Digital Signature Solutions, it shows you value the time, efforts and money of your staff and the signatories too. Plus, it's safe.
- Go Paperless, And Get Rid of Tedious Paperworks
Irrespective of the size of your business and the sector in which you operate, you will agree that managing paper documents are not an easy task. And if you have to do it daily, you will agree that the concerned staff is spending a lot of crucial working hours doing repetitive work rather than making productive value addition to the business. As a smart organisation, you should free your staff from this task and use their skills to perform core business activities that will add more value to the business. Dealing with paper-based documents also requires you to spend a lot of money on building a storage infrastructure. As your business grows, you have to spend more to expand the storage and the trend will go on.
There is an answer to this messy business flow. The answer lies in document signing software. If your business switches to electronic signature, all the documents and data will be stored in a digital form. Your staff will be able to draft, share, sign, and store electronic documents; no need for storing hard copy. This also means easy access to the data in real-time.
- Save Your Time and Effort
Suppose you are signing a deal that requires five parties to sign the deal document. These people are remotely located and hence not possible.for all the people to visit at one place at one time. How much time do you think the signing process should take? It may take a few days or weeks to get the signing process completed. It's certainly a time-consuming affair that demands efforts from the signatories too. On the other hand, if you choose a document signing software, you can complete the entire signature process within a few minutes. All the signatories will have to do is open the document, make a signature at the given space on the document, using the available options, and submit it. The process stays the same irrespective of the location and device of the signatories.
Using digital signature solutions, the business respects the time and efforts of the signatories. The money, efforts and time saved using electronic signature software can be used somewhere else to add more value to the businesses their services.
- Quick Decision Making
Decision making is not an easy process. It involves opinions and approval from many business stakeholders by signing multiple documents. If the decision has to be implemented in time, then then the signatures must be out on the document in time. Hence, the lesser time decision-makers take to sign the document, the quicker would be the implementation of the decision and another way round.
Read the blog- What is a Good Free E-Signature Software or Paid?
There are many formalities that the employees have to perform together as a business between suggesting an idea, getting a consensus and implementing the final decision. Electronic signatures can speed up the process and documentation formalities included in this process. Using Digital Signature Solutions, the decision-makers can approve a decision and give a green signal for its implementation simply by electronically signing the document, even if they all are not present in one room. This solution is perfect for the present situation where most of us are working remotely.
- Saving Costs
Businesses run on the right financial and investment decisions. It is very crucial that the business spends money at the right place, on the right thing in the right amount. Hence, it is better to adapt to a technology that helps you save money. Switching to electronic signatures can do this for your business by letting you save costs smartly with high ROI. Using these solutions, you can run business operations in a cost-effective way. Your business will be able to save money that would have gone wasted in spending on paper, stationery, ink, printing, faxing, postage, etc. Additionally, the Online Signature Pricing of subscribing to these solutions is relatively lesser and in the long run, deploying these solutions turn out to be affordable.
Apart from the above-mentioned reasons, a few more reasons for which
Esignatures are environment-friendly solutions that help you lead a sustainable business model.
Smooth documentation and speedier closure of deals create positive client impressions and clients feel important as they get treated well.
One more season is the high-end safety and security measures taken by this software.
Every business and customer seek legal support for the activities or transactions they perform. In the case of an e-signature solution, parties have this security and credibility as this software have legal backing in the court of law.
There are many more reasons why Digital Signature Solutions are perfect for businesses. However, the above-mentioned reasons are enough to give you a clear idea of why businesses across the sectors are leveraging these solutions.