With electronic signaturess, companies can reduce risks, save resources, and improve their customers' experience by signing contracts online.
Even if an older company already uses digital marketing techniques, they may feel reluctant to implement them because they seem like too big of a shift from their current business strategy.
But, even though the traditional methods have worked well for years, customer behavior and expectations have shifted.
As we live in an ever changing and fast moving society, many business practices across different countries are switching from outdated contracts to newer ones which offer better efficiencies and speed.
E-signatures software gives companies like your huge benefits including faster contract negotiations, improved signatures, quicker payments and an overall enhanced and more productive workplace.
Emergence of eSignatures
During the 1990s, personal computers became more prevalent in business, as companies sought out ways to speed up their workflow and move documents faster.
Any technology that could minimize delays with paperwork and move them faster was a win for everyone involved.
Although digital signatures are becoming increasingly popular, they are not yet widely used. They were introduced into the market of America as they adopted electronic American signature before the widespread adoption of electronic document processing.
In addition, signature technology is often viewed as being too expensive and complicated to implement.
Therefore, these interruptions in the otherwise smooth digital business process make companies starting from freelancers to small and medium sized business (SMB) to large enterprise organizations slower and far less productive.
Additionally, there are other hassles associated with paperwork - they may be lost or damaged, hinder collaborative efforts etc.
With electronic signing, you can sign a document online before it has been printed out. It is legally binding.
What Is Electronic Signature?
An electronic signature is a symbol that represents someones intent to approve a particular action. It is usually attached to a digital version of a paper contract so that it cannot be altered without detection.
There are several different ways to create your electronic signatures. You can type them in yourself, upload an existing picture of your own handwriting, draw them on your computer, or even sign your name with a pen or styluses.
Benefits of Electronic Signature for Businesses
Electronic signature systems allow you to avoid paper documents by scanning them into a computer file and then emailing them to the recipient.
They also provide a modern way of verifying signatories' identities by incorporating digital signatures into their emails.
A digital signature is typically used for PDF files such as contract and order forms, but it is also possible to use an eSignature service to sign anything from email messages to financial records.
Saves Time
With electronic signatures, you don't have to wait for others to deliver the signed documents. Instead, you can simply send an e-mail with the signature attached.
You don't have to exchange emails back and forth to get the document delivered.
Lost electronic documents increase the risk of legal liabilities because they don't provide any proof of delivery.
However, electronic signatures enable companies to send their contracts and proposals back within minutes. This enables them to schedule projects better and forecast their completions.
Increases Security and Reduces Risk
Electronic signatures are secure since they're just digital representations of handwritten documents.
- An electronic signature is harder to fake than one written by hand, so it's safer.
- Electronic signature (eSignature) documents are usually accompanied by a copy of an electronic mail message, a digital signature, and any accompanying agreements or contracts. These records make eSignature documents easier to validate than paper ones.
- Electronic signatures allow for secure document signing without having to sign them physically.
- Documents saved on paper may be lost or destroyed by fire, water, or other dangers.
- Electronic signatures ensure that every document for signing is complete and correct.
- Only people who have been given permission by you may see these documents.
- Electronic signatures are marked with identifying details like the signer's identity, location, and time when he/she signed them.
- Electronic signatures can be secure using biometrics and password authentication for extra security.
Increased Contract Speed
For example, if a hospital uses electronic signatures, they can streamline the execution of important legal agreement that affect patient care.
By doing so, they can improve the quality of medical services by eliminating unnecessary delays in signing these agreements.
Electronic Signing offers various benefits for business contracts, such as:
- A digital certificate is useful for tracking when someone signs something electronically. Doing so eliminates the need for multiple signatures.
- Negotiations are often speeded up because each step in the negotiation is verifiable and accessible to everyone involved, so critical items can be quickly dealt with.
- Even though the parties may be located far apart from each other, they use electronic signatures so that they can communicate quickly and efficiently.
Lower Transaction Cost
Moreover, electronic signature software ensures that everything is in order, thus avoiding potential errors, which may result in delays or costs for fixing them.
However, these costs aren't always small; however, they're often ignored.
Electronic signatures save companys time and money by cutting down on paper documents and avoiding mistakes.
Accuracy
A document shared between two organizations is legally binding, so everything needs to be accurate. Before the document can be submitted, it must be composed, approved, and published.
The accuracy of the document is extremely important. If the old methods were used, a musician might miss out on several pages. He'd have to go back and fix his mistakes.
Electronic signatures are easier to use than traditional ones. They're more convenient since they save time.
Cost-Effective
When running a business, one should be aware of any cost cutting measure they might take. Electronic signature software allows them to save money by saving paper.
Electronic signing (eSign) will allow you to save a lot of paperwork by reducing the amount of paper documents you need for each transaction.
Better Legal Support
Electronic signatures must be legally recognized under the law just like handwritten ones.
Electronic signatures enjoy additional security benefits compared to their paper predecessors. These include strong encryption, which makes electronic signatures less likely to be altered or tampered with; they're not easily shuffled or tampered with; and they immediately notify people when someone attempts to tamper with them.
Eco-Friendly
There are many regulations and guidelines regarding protecting the environment. We need to take into account different organizations' policies when considering our own.
Using eSignatures will help streamline your company's processes and be very cost effective and convenient for your company, as well as eliminate the hassles of having to go through lots of paperwork.
Why Use Electronic Signatures?
Electronic signature technology is an important upgrade for any applicant tracking systems because they streamline and improve the workflow.
Electronic signatures let people electronically sign their names to legal contracts, making them easier to use than written ones.
Electronic signatures allow people to conduct business remotely without having to meet physically. They're easier to keep track of than paper documents.
If you haven't yet started to use electronic signatures, it's time to begin doing so. Electronic signatures will help you improve your business' operations.
Are e-signatures legal?
One of the most common questions about electronic signatures is whether they're legal or not.
Yes. By all means.
An electronic signature is legally binding.
By the end of 2000, most nations had adopted electronic signature laws. These were similar in some ways to eSignatures in the U.S., which was passed by the Electronic Signatures In Global and National Commerce Act (ESIGN) in 2000.
Freelance workers no longer have to limit themselves to executing their contract agreements on paper.
What Different Types of eSignly Alternatives are There?
There are several different kinds of software solutions for signing contracts online. They can be divided into three categories:
eSignature competitors: A signature is something you write down on a piece of paper. An electronic signature is something you type into a computer.
Contract lifecycle management solutions include enterprise-oriented software from SAP, Aruba Networks, and Oracle.
These solutions are geared towards larger companies with longer implementations. They're not suitable for smaller businesses who want to implement quickly. But if you need something quick, these might be good options.
An all-in-one solution that provides the same electronic signatures such as eSignly, plus everything else needed for a complete contract lifecycle.
How to Choose the Right Electronic Signature Software?
Automate your signature requests so that you can sign and request electronic signature from anywhere at any time
When it comes to web hosting services, there are plenty of options.
Its important to choose an electronic signature solution that meets your needs best.
While considering these points when choosing an electronic signature system,
Sign Documents on Mobile Devices
With 83% of business people using mobile devices, having one gives you an advantage over your competitors.
A digital signature platform must be able to support mobile signatures for any type of user equipment.
Access to Real Time Analytics
Real-time analytics allows you to understand how prospects are responding to proposals, and if they're opening them multiple times or not.
There may be delays before they sign.
You can use an electronic service to send your proposal electronically. It's important to know whether your prospects open your emails and sign contracts.
CRM Integrations
Many companies rely on customer relationship management software (CRM) for their day-to-day operations. Some of these programs even allow you to connect them to other applications, systems, or technologies so that you can streamline your workflow.
A useful and effective electronic signature solution will be able to integrate into your chosen CRM system so that it becomes much easier for your team members to track whats happening throughout their entire pipeline.
Compliance with Security and Privacy Regulations
People who use online forms need to be sure their communications are safe from hackers.
Since you want to comply with privacy laws in every country where you offer online services, your choice of eSignature software needs to be compliant with those laws.
You need to be aware that in Europe, the European Unions (EU) General Data Protection Regulation (GDPR) applies to any organization that collects personal data from people within the EU.
Electronic Signatures: There are specific rules regarding them.
- The Electronic Communication Privacy Act (ECPA) and the Uniform Electronic Transactions Act (UEA) govern electronic communication privacy in the United States.
- eIDAS and authentication services in Europe.
Electronic Signatures must be legally valid under governing law and regulation.
Be careful when reading through the T&Cs and look out for any specific details relating to authentication, record keeping, and encryption.
Scalability
If you've had success selling e-signed contracts to clients, then you might be able to sell them to other companies.
Or if they're used for hires, then they could help make signing up new employees easier.
A good electronic signing software solution will allow you to expand as your company grows by adding new users and licensing multiple teams.
Automation Capability
Automation helps to save people time and streamline the way they operate. A sales professional typically spends less than half of his/her time actually selling.
Automating certain administrative tasks can often save time. One example of an application that automates some administrative tasks is eSignature software.
Automated messages or notifications let sales people talk to their clients instead of sending them emails.
Top Emerging eSignature Software
If you're looking for the best electronic signature solution this year, eSignly and DocuSign might be the top choices.
If you want to know whether signing documents online is an option for you, check out their pricing pages.
However, just by comparing one type of solution against another won't give you an idea of which ones are better suited for your business.
We've done the hard part for you.
We'll compare both the platforms:
eSignly
eSignly offers its services at no cost, satisfying its clients need by providing them electronic signature solutions across all industries, including financial, insurance and healthcare, government banking, real estate legal, etc.
Electronic Signature Services (ESS) help businesses cut down on paper and make signing documents easier.
eSignly is a digital signing solution provider helping businesses reduce paper costs and ensure compliance with all legal requirements.
Our software helps business partners and customers quickly create electronic signatures that eliminate the need for paper copies. Theyre easy to share online and across geographic locations. And theyre easier to review in one simple action.
This reduces the amount work required to complete transactions. eSignly eliminates tedious process of signing multiple documents one after another.
User simply picks the document they'd love signed, chooses the individuals who'll be included, and sends it off. eSignly can deal with any kind of document.
eSignly has built a reputation for being an easily used, quick to use, and trusted document signing tool. It also works across multiple platforms, including mobile apps, web browsers, and desktop applications.
DocuSign
By using DocuSign for secure document signing, you can leverage its features to speed up your workflow from negotiation, offers, and contracts to invoicing.
Use an app to automate repetitive processes and free up time by doing them on any device.
Create an automatic reminder every time you complete a step in the process of signing contracts. You can use standard fields (such as date ranges) or create your own.
Store your frequently used docs using DocuSign ESignature so you don't need to retype them when you send out new ones.
With DocuSign, connect and integrate your eSignature solutions with the services and applications you already use.
They offer 350 plus integrations and leading APIs including Salesforce, Google, and SAP, among others. Their resilient infrastructure enables them to provide 99.9 percent uninterruptible service which is critical for your organization.
You don't need to worry about the security of signing documents online because it complies with regulatory requirements like the EU and US ESIGN Acts and has strong and advanced technology for encrypting sensitive information.
Digital Signature vs. Electronic Signature
As with all things technological, definitions are important. A digital signature is simply an electronic version of a handwritten signature.
They're both equally valid, so if you sign something electronically, you've signed it digitally. Just remember that a digital signature doesn't mean much unless someone else can verify it.
A digital certificate (also known as a public key) is an electronic file containing information about your identity and what you're allowed to do.
You sign your name onto a piece of data, such as a contract, so that only you can read it. Your certificate contains information about who you are, including your full legal name, address, phone numbers, date of birth, and ID number.
Certificates are used to verify the authenticity of online transactions, and to prevent fraudsters from impersonating someone else. They're essential if you want to make purchases online or send money via PayPal.
They're often used interchangeably but it's important to keep that distinction in your head when doing research.
DocuSign Pricing Vs. eSignly Pricing 2022
Comparing the price differences for best eSignature platforms for 2022:
DocuSign
1. Personal
$15 per month
- Send documents for eSignature: 5 documents per month
- Single user only
- Integrates with Dropbox, Google Drive, and more.
- Real-time audit reports
- Top-rated mobile app
- Automate reminders & notifications
- Reusable templates
2. Standard (Best Value)
$45 per user, per month
- Send digital documents for eSignature
- Buy up to 5 users online. For more than 5 users, Contact Sales.
- Integrates with Dropbox, Google Drive, and more.
- Real-time audit reports
- Top-rated mobile app
- Automate reminders & notifications
- Reusable templates
- Shared documents
- Comments
- Shared templates
- Team reports
- In-person eSignatures
- Customized branding
3. Business Pro
$65 per user, per month
- Send documents for eSignature
- Buy up to 5 users online. For more than 5 users, Contact Sales.
- Integrates with Dropbox, Google Drive, and more.
- Real-time audit trail
- Top-rated mobile app
- Automate reminders & notifications
- Reusable templates
- Shared documents
- Comments
- Shared templates
- Team reports
- In-person eSignatures
- Customized branding
- Signer attachments
- Collaborative fields
- Advanced fields
- Drawing fields
- Single click consent
- SMS authentication ($)
- PowerForms
- Collect Payments
- Bulk Send
4. Enhanced Plans
Call for more info: 1-877-720-2040
All the Standard or Business Pro features, plus further customizations:
- APIs
- Integrations, connectors
- Embedded signing
- Advanced branding
- Identification & authentication
- Single-sign on (SSO)
- Organization administration
- Customizable usage limits
- Industry modules
- Enterprise level support
Other Products:
- CLM
- Negotiate
- Gen
- Click
- Intelligent Insights
- Guided Forms
eSignly eSignature
1. Free
$0/Month
- 3 (Send for Sign)
- Unlimited (Receive & sign)
- 0 Reusable Template
- Real-time Audit Trail
- eSignly Mobile Apps
- Auto Reminders and Notifications
- Signer Form Fields
- Data Validation Logics
- 15+ Languages (Coming Soon)
- Request using Pdf Max 5 MB
2. Professional
$10/user/month
- Unlimited Signatures
- Unlimited (Receive & sign)
- 5 Reusable Templates
- Real-time Audit Trail
- eSignly Mobile Apps
- Auto Reminders and Notifications
- Signer Form Fields
- Data Validation Logics
- 15+ Languages (Coming Soon)
- Send Signatures request using PDF, DOC, DOCX max 10 MB
- Box, Dropbox, OneDrive, Evernote, Google Drive Integration
3. Business
$20/user/month
- Start as Admin, Add more in Any Paid Plans.
- Get Volume Discounts
- Unlimited Signatures
- Unlimited (Receive & sign)
- 15 Reusable Templates
- Real-time Audit Trail
- eSignly Mobile Apps
- Auto Reminders and Notifications
- Signer Form Fields
- Data Validation Logics
- 15+ Languages (Coming Soon)
- Request using PDF & ALL office documents Max 25 MB
- Box, Dropbox, OneDrive, Evernote, Google Drive Integration
- Shared Documents with Team Members
- Shared Templates with Team Members
- Real-time Audit Trail ON/OFF
- Send Private Message with Signatures Requests
- In-person Signatures
- Allow Attachment from signers / receivers (Max 10 MB)
- Branding
- Personal Question and OTP by email.
- Bulk Send (50 at a time)
- Team Features and Reports
- HIPAA with BAA (Min 100 users)
4. Enterprise Plan
$30/user/month
- Start as Admin, Add more in Any Paid Plans.
- Get Volume Discounts
- Unlimited Signatures and Unlimited Documents
- Unlimited (Receive & sign)
- Unlimited Reusable Templates
- Real-time Audit Trail
- eSignly Mobile Apps
- Auto Reminders and Notifications
- Signer Form Fields
- Data Validation Logics
- 15+ Languages (Coming Soon)
- Request using PDF & ALL office documents Max 50 MB
- Box, Dropbox, OneDrive, Evernote, Google Drive Integration
- Shared Documents with Team Members
- Shared Templates with Team Members
- Real-time Audit Trail ON/OFF
- Send Private Message with Signatures Requests
- In-person Signatures
- Allow Attachment from signers / receivers (Max 20 MB)
- Advanced Branding
- Personal Question and OTP by email, SMS. Extra SMS Credits needed
- Bulk Send (100 at a time)
- Team Features and Reports
- Longer Data Retention in Cold Drives/ Archive
- Advance Fields like radio buttons, clickable links, and more.
- Masked Fields (like Password)
- Performance Dashboards
- HIPAA with BAA (Min 100 users)
- Choose Data Center: USA, Europe
The Key Takeaway
You've got everything you need to use eSign service more effectively now.
Technology has made life easier for us by allowing us to use technology to sign documents electronically.
eSign is made easier for you with our help through this portal. With eSignly, besides signing your docs, you can also send docs to others and they can sign them for you.
