According to Fortune Business Insights, the demand for e-signature solutions will reach $7.99 billion by 2027.
The boost in figures is a result of the global businesses continuous aim for full digital transformation as well as the increasing call for remote work.
With that, here are some of the ways electronic contract signing can help your business as you transition to remote work.
1. Reduce document turnaround time
Using e-signatures can reduce the steps required for signing contracts and documents. You no longer have to print the file, fax or mail it to the recipient, and then wait for them to sign the document and send it back to you.
With e-signature, users can sign and receive signatures in real-time. In just a few clicks, you can start processing urgent documents and contracts without moving away from your device.
This can also result in quicker decision implementation. Enforcing decisions within an organization setting is never an easy feat.
There are numerous stakeholders involved with whom you must gain approval from. It follows that there are also countless documents that need to be signed. But with the reduced document turnaround time, you can lessen the gap between decision and its execution.
2. Convenient and accessible
Another benefit of digital signatures is mobility. Many electronic signature solutions let you use any type of devicefrom laptops, tablets, to smartphones.
In most cases, all you need is your preferred device and an internet connection.
This makes e-signatures one of the most convenient and accessible options for customers and users to acquire signatures.
Thankfully, there are countless solutions to choose from, making it easier and less complicated to learn how to sign a contract electronically.
3. Secure documents and minimize risks
Paper documents can be fragile. The same is true with wet-ink signatures. Any form of damage or tampering can render the signature useless and invalid.
It also doesnt help that transporting paper documents can expose the file to harsh elements and unpredictable conditions.
These are only some of the factors you can avoid with an electronic signature. Moreover, you dont have to worry about its validity since many laws all over the world recognize its legality.
A digital signature is highly secure since they are inextricably linked to the document itself. Most e-signature tools use robust encryption algorithms to protect your documents from tampering and unlawful alteration..
4. Take advantage of automation
There are many benefits of a business management career, but because of the world's situation nowadays, its important to be able to automate and work on some business processes remotely.
Electronic signatures let you automate your document flow and processing. This allows you to eliminate repetitive tasks such as providing your electronic signatures for employment contracts, sales quotes, and non-disclosure agreements.
For example, if you use the same documents every day, you can simply create a template and have your electronic signature incorporated directly into it.
This way, you can have multiple copies of the document with your e-signature already in it. You can also automate the actual sending of a document to your desired recipient and have it digitally signed from them.
5. Save up on the cost
Electronic signatures are more cost-effective than traditional methods of securing signatures. You can save on paper, ink, scanning, packaging, shipping, and mailing cost.
Likewise, it can cut down the financial impact of unforeseen human errors and potential damages to the document/signature itself.
Basically, what you will be spending on is your subscription for your e-signature software. Fortunately, there are many solutions to choose from.
Their prices may vary depending on the features and functions they have. Moreover, there are service providers who offer different subscription plans depending on the size and budget of your business.
eSignly, for one, has a free version for those who only need the basic functions of an e-signature software.
The right time for e-signature
Electronic signature is one of the best methods for securing signatures for any type of document. In fact, you can use it to sign consent forms, contracts, application forms, compliances, and more.
This is especially perfect for businesses that are planning to shift towards remote work.
Nowadays, there are many electronic signature tools to choose from. Each of which has its own unique set of features and functions.
So go ahead and explore what these solutions have to offer to your business. To start off, you can check out eSignly.
