eSignatures API provides important benefits and opportunities for businesses and app development teams by enabling them to improve their services and products, increase efficiency, and save valuable resources.
You may not even know it, but you use APIs every day. They're becoming increasingly common among web application programmers and are used by some of the most popular websites. For example, Google uses an API called OAuth 2.0 to allow third-party apps access to their services.
With the increasing use of electronic signatures, supporting and enhancing workflows cannot be underestimated. APIs such as those provided by eSignly help ensure that workflows can support and enhance them.
E-signatures provide several advantages for business-to-business (B2B) and business-to-customer (B2C) transactions. They improve internal processes by streamlining document creation and distribution within organizations; they improve external processes by reducing time spent completing documents and facilitating faster contract execution between parties.
With so much potential for improvement, the real challenge isn’t whether you should implement an electronic signature system; it’s which electronic signature system offers the best combination of benefits.
That’s one reason we designed our API so that you can choose which features you want to include in your workflow.
What is an eSignature API?
An application program interface (API) is a RESTful web service that allows clients to access resources through HTTP requests. It also creates, updates, deletes, lists, searches, and monitors resources.
An electronic signature API developer typically makes API calls using HTTP methods (GET and POST).
The API returns all legal documents in JSON format. These documents are legally binding and fully protected so that no sensitive data is exposed during their transfer.
Electronic Signatures APIs operate using complex mathematical algorithms to verify electronic signatures like financial institutions verify bank statements. They must adhere to the same standards and regulations as these organizations.
With eSignature solution, businesses can confidently, securely, and efficiently handle an array of signature requests, making them easier to obtain.
To understand electronic signatures, we first need to know what they are not. They are not a contract; they are not an agreement between two parties.
For example, an API for electronic signatures enables you to securely sign documents that comply with digital standards and requirements to have the same value as the physical one.
An Electronic Signature (eSign) is not just for documents; it can be used for any identification.
Document signatures have become increasingly common among companies that want to be practical when they sign documents with their employees, suppliers, or customers.
Suppose your business processes involve many steps brought into one unified application. In that case, the API in electronic signatures is essential. Let’s look at an actual case study.
To add a new customer to your business, you need to follow these steps:
- registration in CRM;
- contract signing;
- client activation;
- welcome email.
What Benefits Can Electronic Signatures Bring to your Business?
In the 1990s, personal computers became increasingly popular with businesses, as they allowed companies to reduce costs and streamline operations. One area where this was particularly evident was signature capture tools. These allowed individuals and companies to sign contracts, agreements, invoices, and so forth without resorting to pen and ink. Today, however, the landscape has shifted somewhat. While these tools remain prevalent, they are no longer the only option available to those who wish to sign such items digitally. For instance, online services now allow users to create legally binding contracts and other legal forms that can then be signed electronically. Such services provide a convenient alternative to traditional methods and also eliminate the risk of losing important information if something should happen to the original document.
With eSignature tools, you can sign a contract online, which makes it easier for both parties to access and review the terms and conditions of the agreement. You can also send the signed contract electronically, which allows you to get the legal paperwork done faster.
As rightly noted by Geoffrey Moore, author of Crossing the Chasm, e-signature technology removes the final barrier between a hybrid paper/digital workflow and an entirely electronic one, drastically speeding up the closing phase of any business deal requires a contract.
Here we’ll look at some benefits electronic signature brings to your business.
You may not realize it, but your company spends daily money just keeping track of documents. From buying them, printing them, scanning them into the system, sending them out again, and finally filing them away somewhere. With digital signatures, you can eliminate the cost of these steps and save money instead. By signing electronically, you can reduce the amount of paper used by 50%. In addition, you can also save money on postage and storage space.
One of the most important benefits of electronic signatures is that they are safe and secure. In addition to being stored on the server, the document cannot be altered once it is digitally signed. The underlying public key infrastructure (PKI) technology ensures that every document is kept safe from tampering. The PKI technology generates an ID unique to each user and stores it along with the document. When the document is sent, it is encrypted so only the recipient can read it.
Digital signature software uses public key cryptography to create a digital signature for each document signed by
When an electronic signature is made, it is done using the private keys associated with the person signing. These keys are stored safely to prevent others from being able to forge signatures. Once the signature is complete, the data is sent to the recipient via email. The receiver can only verify the signature because they know the corresponding public/private keys used to create it.
Fewer Document Errors
Electronic signature software applications, such as eSignly, provide numerous additional benefits for companies and individuals, including reduced error rates in contracts, proposals, and invoices.
E-signature software reduces errors by an average of 80% and can be used for writers, management, and legal professionals. It includes automated workflow approvals, templates, and a content library.
Increase in Approvals
According to a research, companies who use electronic signature software see an average of 28 percent improvement in their document close rate compared to companies that don't. Electronic signing tools also often include additional features that help streamline processes and improve efficiencies. These features, combined with the ability to create customized forms for each department within a company, can significantly improve the overall workflow.
Notably, electronic signatures also speed up internal approvals; they can take days to complete a signature that takes hours to do manually. Electronic signatures instantly solve this issue. For instance, one company saw an 83 percent increase in efficiency for in-house approvals.
No Longer Need to Track Down Documents
Sending faxes and mailings, or even signing them yourself, puts you at risk of losing or stealing them. It takes up valuable office real estate and is time consuming and inefficient.
Staying organized doesn't just help you streamline your business; it helps you save time and money. With eSignatures, you can eliminate paper forms from your workflow and save yourself some time and money.
All your signed contracts and agreements are stored in our cloud-based platform, making it easy for you to access them from anywhere at any time.
You can access these documents from any computer or mobile device with an online connection.
Eco-Friendly and Money Saving
How much money does it cost for your office to maintain its paper records? You need to consider the costs associated with printing, ink, and computer upkeep.
You'll save money by switching to electronic signatures by reducing paper usage.
Given all the benefits of electronic signatures, do you think it’s time to introduce them to your organization?
You may already be two-step ahead and think you would be better off building your eSignature service.
Before we get started, here are some things you need to think about before starting.
How Can eSignature APIs Enhance Business Workflows?
Starting a business can be an overwhelming experience. You might feel overwhelmed just thinking about how much money you'll need to invest, where you'll get your customers, and whether or not you'll make any profit. In reality, though, these challenges aren't insurmountable. They're just part of the process. And if you follow a proven plan, you won't have to worry about them.
As far as we know, one of the biggest obstacles for most companies is inefficient document management. Luckily, electronic signature APIs are some of the best ways to improve efficiency.
Here is how the eSignature APIs help businesses to grow by entering into a whole new digital realm
Provide a Streamlined User Experience for Both Existing and Potential Users
People today want convenience, and business leaders are paying attention, with over 70 percent considering user experience (UX) and customer experience (CX) a competitive differentiator.
You can streamline workflows so they're easier for customers, users, and new hires, which is a huge advantage over competitors.
Embedded electronic signature (eSign) technologies make it easier for people to sign documents electronically.
With embedded eSignature technology, users can sign contracts and legal docs directly from your website or mobile app. Eliminate any unnecessary steps, and increase user engagement and conversion rates.
However, ensuring that there aren't too many steps involved is just one part of creating an easy online shopping cart. Consumers also expect to be able to sign up for their account using any device with convenience.
You can embed electronic signatures into your websites or platforms using APIs too.
When customers and new hires can easily create and send documents from any device, your chances of conversion go way up. And that will only propel your business toward greater growth.
High Level of Customisation
The optimal solution for electronic signing requires an API that is easy to implement and supports customizations. With eSignly, you can combine multiple applications into one system. You can also customize the appearance of the document being signed. In addition, you can personalize the UI of the signatures. White labeling is also supported.
Processing Documents into Productivity
Suppose you've ever worked in sales or human resources. In that case, you know these two departments often deal with a ton of paperwork and repetitive tasks. These jobs require a high level of attention to detail, so filling out forms and documents by hand takes up a significant portion of their day.
E‑signatures can help teams streamline the signing processes by converting frequently signed forms into digital templates. Consequently, the time spent in preparing the same form again for signature can be put elsewhere. This approach is perfect for high-volume forms that must be sent to multiple recipients regularly.
Templates aren't entirely new, but combining them with APIs makes them even more powerful. By using APIs, you can combine the entire contact list into one template and then use it to auto-populate any field you want.
With its powerful document management capabilities, eSignly helps salespeople close more sales by helping them send customized agreements and documents to their prospects and employees faster than ever before.
Speedy Process Coupled with Financial Advantages
E-signatures minimize the cost involved in signing contracts. You don't need to buy ream upon ream of papers, nor do you need to hire a whole team of people who handle scanning, storing, and distributing documents.
Besides that, using e‑signatures API also means that you don't need a large team for menial day‑to‑day operations such as scanning, printing emails, sending them out, signing them, and storing company files.
Having APIs doesn't help you achieve any of these goals. However, APIs can speed things up for you by generating and customizing quick answers. It saves you from hiring new employees and much money too!
We've already seen that using an API to automate tasks saves time and makes things easier for everyone involved. Now let's look at how these APIs can help your business.
This smooth, stress-free experience adds to your customer's satisfaction and helps them to become positively impressed by you. Therefore, technically you're going to kill two birds with one stone - your satisfied and impressed clients will also help your business grow.
Automatic Document Tracking
Once you send out the document for signature, you won't be able to get back to it until the person returns the signed version.
When it comes to selling, people in the marketing team often feel they need to play it cool and not come across as pushy. Still, at the same time, they don't want to miss out on an opportunity to sell. HR teams also face the same dilemma because they're usually the last to know if another company has hired someone.
It’s hard to know why someone hasn't signed a contract. Fortunately, we live in a digital age where advanced electronic signature software can do our job.
Even though you may not be using the API, you could still receive notifications anytime someone opens, signs, or returns the documents. With APIs, however, you can do much more than notifying people about these events. You can also automatically respond to them! By taking advantage of the power of the API, you can automate processes such as reminding users to sign documents or even creating automated responses to emails sent out to your customers.
This tool is even better because it automatically sends reminders to people who haven't yet confirmed their subscription. So if someone hasn't subscribed after they've been sent a reminder, you won't need to follow up yourself. It will be done automatically.
Improved Safety and Security
Suppose businesses have paperwork lying around their offices. In that case, they might mistakenly think it is safe from theft, damage, loss, tampering, or exposure to the wrong eyes. However, this isn't necessarily true.
Strong Encrypted Documents
Developers use strongly encrypted documents to prevent them from falling into the wrong hands. There are always threats lurking, but they're mitigated through APIs built for secure document transmissions.
Before eSignature systems, businesses had no way to make quick decisions when signing contracts because they were bound by the slow process of obtaining legal documents. If they waited too long, their deal would fail.
E-signatures now fill in the gap between execution and business decisions. By using them, making business decisions has become more intuitive and efficient.
Businesses can get their projects done quickly by having stakeholders approve documents quickly. Everyone knows that in the business world, "the quicker you get something done, the better."
More Satisfied Customers = Better Business.
If people aren't satisfied with their service, they'll look elsewhere. Businesses need to keep their clients satisfied. They must offer good services so that they don't lose potential clients.
Each step of the document signing process is monitored by an employee who checks for errors. Doing so keeps the entire document signing process is kept as streamlined as possible.
Why eSignly eSignature API is the Best?
Our eSignature API allows business owners to transform their workflows by providing them with an easy way to sign documents electronically. It also adds important functionality and reduces the cost of signing documents.
- Businesses can then easily meet customer needs in vital ways, including:
- Before sending the email, pre-fill in some details about the document.
- Signing up for an account directly through the business' site or app
- Downloading comprehensive Excel reports with advanced filtering capabilities
- Advanced notification emails based on form selections
- Using webhooks to automatically synchronize customer data between applications and third parties
- Downloading any signed documents at any point in the future
- Our solutions meet compliance requirements for electronic signature, Uniform Electronic Transactions Act (UETA), California Consumer Privacy Act (CCPA), European Union General Data Protection Regulation (GDPR) and 21 CFR Part 11 compliance.
The Key Takeaway
It’s important to remember that electronic signatures aren't any less legal than handwritten ones. Electronic signature options are changing the way companies document their agreements.
Businesses must embrace new technologies to serve their clients and business goals better. With eSignature solution, they'll have an easy way to identify and authenticate documents.
It’s time for companies to get educated about their business and its current state. They need to understand their current situation so they can make better decisions in the future.
Using an eSignature API can help companies improve how they get signatures and stay up to speed with current trends.