Benefits of using electronic signature across software solutions

08 Oct

When any technology enters the market, every sector of the economy makes an effort to integrate it into the existing system.

All wait for positive reviews about the technology and the jump on it immediately. One such technology is esignature solutions. Electronic digital signatures are used by many organizations, especially by software solutions providing companies across the world.

Introducing electronic signatures

Electronic signature software allows documents/agreements to be created, shared, signed and stored digitally. Esignsture solutions have legal backing from most of the countries across the world. The software facilitates lightning-fast turnaround. This means your clients or suppliers can be taken on board quicker than before, ultimately leading to your growth and building a positive bond. eSignature Solution for Government Agencies is also used across the world. This can tell you a lot about its importance and reliability.

Let us understand their benefits and know which are the must-have factors that any software solution company should look for while deploying electronic digital signatures.

Saves time

This is the first and foremost benefit of using esignature solutions. Your customers don't have time to wait in long queues or wait for days to sign the final agreement or contract. Using digital signature software, you respect your customer by ensuring them that when they associate with you, things move faster, and the data is safer.

Efficiency

Efficiency is guaranteed with E signature solutions at every stage of the document process. Right from the creation of the document to the filing, everything is safe and fast. The signature software features help you in creating, sharing, storing, and accessing the signed documents at any time, from anywhere. Easy access means that proof of your association with your clients is forever available to your company and the concerned parties.

However, before you understand the importance of electronic signature software for your software solution company, you need to know the reasons for which the traditional form of signature is no longer found to be feasible in today's world.

  1. Paper-based contracts have to be printed on a physical paper and then mail or courier to the concerned parties, which are spread across the geography. If anybody of the concerned party is abroad, things become even more slow and tedious. This wastes everyone's time and money ( on postal charges and stationary). Sometimes, all the parties have to travel to meet at one particular location to sign a contract, leading to more delay. As a Software Solution company, we are sure that you do not want to keep your customer waiting to waste your and your customers' time. Hence, paper-based signatures are not feasible.
     
  2. And even if everything goes as per the plan, there is a risk of manual errors, adjustments to be made in the contract, mistakes made, etc. In such situations, the contract has to be re-checked, edited/modified, and re-printed in order to courier it to the parties again. Can you imagine the time and risk of errors involved in this process? Esignature solutions save you from this trouble. As everything is performed electronically (end to end), there is hardly any scope for the errors, and in case of any, ratification is possible in a few minutes. Plus, the cost of using a paper and re-printing it has vanished.
     
  3. One more factor to consider is the safety of the document. When you are dealing with a paper-based document, the risk of loss, misuse, displacement, etc. increases, plus, it is a daunting task to save all the documents in a paper format for years to come. A cloud-based storage system is one of the esignature software features that allow your store to safely store every document and content on the cloud with limited access to the data. Not everyone can access this data without a required key.
     
  4. If you deal with a physical paper, there is no way that you can search the right paper in an emergency without having to spend too much time in finding the document. Even in the emergency, you will have to go through piles of documents to find the right one. Electronic signature software saves you from the trauma as you can search the documents by entering a related keyword in the system, in a few seconds.

What is good news is that you do not have to suffer from any of the above-mentioned issues or more. By deploying digital signature solutions, you can save the time of your staff and customers.

Errors can be corrected easily.

Think of a scenario where your client is impressed with your software solution and wishes to buy it as soon as possible. Your sales team has taken immense efforts to convert this lead, and now it's the time of the final transaction where the contract has to be signed. However, you deal in traditional/paper-based agreements, and the whole procedure takes in days to get completed. Will it going to leave a positive impact on the customer, you being a software solution company.

On the other hand, imagine a scenario where a prospect has shown interest in buying your products and wants to finish the transaction as soon as possible. You create a digital contract on the same day, share it with the customer; he/she checks and signs it and shares it back to you the next day. The client is officially yours, and the impression built on the customer is nothing but positive. It saved both parties' time.

Read the blog- How signature solutions have proved to be useful in different sectors

Yes, the electronic digital signatures do not come free of cost forever. However, in the long run, this software has turned out to be more productive and cost-effective. The cost of deploying electronic digital signatures software is certainly less than the money spent on stationery, postal charges, printing, faxing, etc. 

Develop goodwill

Esignsture solutions are modern, eco-friendly, and interactive solutions which are perfect for today's fast paced world. This is a bang on a solution to the traditional paper-based signatures. The modern solution takes care of long-winded documentation processes. Any organization that can offer its customers a convenient documentation process is definitely going to win their hearts and improve their goodwill in-general.

Let us explore the factors any reliable Digital Signature for Government Agencies or any electronic digital signatures software should have.

Has robust and reliable safety measures to ensure the protection of crucial personal data/documents/records. This can be done with the help of encryption.

Perfect signature solutions will offer you a comprehensive document management process for both external and internal users.

It tracks the real-time status of the contract and notifies parties when their action is needed.

Apart from the above factors, reliable esignature solutions also offer the following features.

Device Compatibility

When you deploy an electronic signature solution, you need to be sure that the process of signing a document is smooth and seamless irrespective of the device being used and the number of parties going to make the signature. The same is applicable to a document management process where third parties are allowed to sign the document. It allows the parties or the users to sign the document from anywhere at any time using any device that can be connected to the internet is bliss. Users look for such convenience and comfort, and it motivates them to perform their actions in time.

Integrating with other business software

One of the crucial factors to look for is its ability to get integrated with the existing business management system or applications such as google docs, Dropbox, etc. This integration has to be smooth and hassle-free so that the concerned departments get the work done in the minimum time.

Grow

The perfect esignature solution will integrate with as many APIs as possible. Choose a solution that fits your business needs and objectives.

Security

This is undoubtedly one of the important factors to consider before deploying any software or technology into the organization. A secured software will ensure the authenticity of the parties and the document. With robust audit features, one can have access to the analytics of the process. Audit trail makes sure that every action, at every stage, is watched, and parties are notified about it for transparency.

Tracking Signees

The company makes multiple contracts with multiple parties for multiple reasons. Managing this long list of the signed document and the parties involved is a tedious task, but is equally important. Having control over the whole network is important as different signees can access different documents at the same time through the same software.

Conclusion:

Being a software solution providing company, you understand the importance of technology and the changes it can bring in your organizational working. Deploying the perfect esignsture software features means that you are going to enjoy the positive ROI and customer image.

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