What is a Digital Signature, And Why Should You Use It for Your Business in 2019?

05 Aug

If you’re still signing your business documents manually, you must be experiencing immense pressure from bulk signing.

Research has also shown that employees waste at least 20-30 % of their time, on a weekly basis in managing and signing documents.

One of the best decisions you can make for your business in 2019 is going paperless. You can try and implement paperless solutions across all the departments in your business. On the paperless journey, you will need a digital signature. It will enable you to stop using the traditional methods of signing using the pen a paper. It’s an improved and better way of signing.

What is a digital signature?

A digital signature is a mathematical method used to validate the integrity and authenticity of a digital document, message or software. It’s equivalent of a stamped seal or a handwritten signature. A digital signature provides better security and aims at solving problems associated with impersonation and tampering in digital communication.

Digital signatures can offer additional assurance of evidence of identity, status, and origin of an electronic message, document or transaction. It can also grant informed consent by the signer. In many countries, including the US, digital signatures are termed legally binding in the same way as manual document signatures.

You can use a digital signature API to collect signatures for paperwork, legal documents or contacts directly in your website or product. You can use it to sign legal papers, onboard new employees, and sign contracts between sellers and buyers.

Benefits of using a digital signature

There are numerous reasons why business owners are increasingly using digital signatures in their businesses. The benefits presented by digital signature are many and they include,

1. Convenience

If your team or clients spread across different locations countrywide or globally, digital signing closes the gap. It makes it possible for document authentication and remote signing. Individuals can sign the documents from their locations within seconds or minutes. You don’t have to mail or scan the document because you get straight to signing with digital signing.

You are also able to monitor the movement of documents in real-time. The whole process is transparent and digitized from creation, distribution, editing, validation and storage.

2. End of messy paperwork

It’s draining dealing with immense amounts of paperwork daily. You waste a lot of time and energy in managing paperwork, the time and energy you can use elsewhere to better your business. The more the paperwork, the more storage space you’ll need. Besides, anytime you need to refer to a document, you will have to go through piles of paper to access it.

With digital signature, your documents remain in digital form for the longest time possible. They are created, signed and stored online. You don’t need a hard copy at any given time meaning eliminating paperwork and retrieval is easier.

3. Improved security and safety

PKI technology is used in digital signing that keeps the signature secure from human tampering. Unlike the manual signature that is prone to forgery, the documents can be damaged or misplaced in an unforeseen event. The digital encryption lets you know even when a single character in your document is changed or deleted. The encryption leaves a data trail that can easily trace and exposes any forgery incidences.

Digital signatures implement strong security protocols to receive, send and store documents electronically. Apart from facilitating document signing, the digital signature record all the important evidence related to signing the transaction. This ensures additional credibility and authenticity for the transactions.

4. Cuts Costs

You don’t have to pay for courier, postage, management, storage and other document handling fees. Through the digital software app, you can sign multiple documents in a much less cost and less time. You can use the added available time to concentrate on other important issues of the business. You can also use esign documents free app to sign and edit your documents easily and quickly.

5. Faster decision implementation

Implementing a decision in business takes longer when several documents require signature and approval from various stakeholders. The more the time it takes to have the papers signed, the longer it will take to implement a decision into action. In some instances, good decisions have been lost amidst these lengthy processes and formalities.

A digital signature shortens the gap between the decision and its implementation. It speeds up the formalities and the approval process as the relevant stakeholders are able to sign to documents quickly. That gives the seal of approval much faster, meaning the decision is affected sooner.

6. Boosts clients’ satisfaction

The most crucial part of business success is the clients’ satisfaction. Using customer signature app is the key to achieving better customer satisfaction. Clients can use the app to sign the documents from wherever they are using any mobile device they own. With smartphone penetration close to 90% in major parts of the world, customers prefer doing almost everything online and they will go to businesses that extend such electronic experience. The signing experience is more streamlined and much smoother with digital signatures. Clients will definitely appreciate the ease of signing documents translating to more business from them.

7. Eco-friendly

If you want to make your business eco-friendly you have to adopt paperless technology. Increased paper consumption harms the environment because it leads to the cutting of more trees for paper production. The digital signature avoids environment damage as its paperless. It helps the business as it protects the environment, a win-win for the business and nature.

Conclusion

With the highlighted benefits of digital signature to your business, you now know why it’s a good idea to adopt it in your business in 2019. Take a step ahead and have a digital signature and it will help take your business to the next level. Digital signature eliminates the hassle of numerous administrative tasks, making the business find time to focus on other aspects of business growth. In addition, the business is able to craft build better workplaces and more competitive offerings; helping create a business that can flourish in a competitive world.

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