How Electronic Signatures Are Changing the Commercial World

Due to the current pandemic situation around the world, no such industry has remained intact. Therefore, the government introduced new laws and regulations, which forced global businesses to radically change – how they operate, how they deal, how to deliver services, and many more.

However, the situation has led companies to adopt new technologies to manage future strategies effectively. One of the advanced technologies is the electronic signature. Electronic signatures are a step towards a significant change that can take businesses to new heights.

Let’s review the article where we discussed “How Electronic Signatures Are Changing the Business World.” But first, we go further; we first know, “what is an electronic signature and how to sign document online?”

Overview of an Electronic signature

An electronic signature is an advanced way to sign documents. It allows users to collaborate between parties from any location in the world virtually. Parties can sign digitally from anywhere at any time but the only thing to consider is the consent that is given to open and view the electronic document by the sender.

Many countries worldwide accept and use this technology, and governments embrace this new, efficient way of doing business and sign the document online. This not only speeds up the creation of cooperation but also works on the economy.

Benefits of E-Signature

The use of electronic signatures in the commercial world has many advantages. Besides, it is proven to have become a more profitable type and secure creating and processing contracts. However, here are some of the advantages of using electronic signatures:

1. Save your time and effort.

Suppose you are applying for a loan, and the financial institute requests a related document signed by 3 to 2 parties to approve the loan application file. How much time and money will it take? How far do you live near or far? How many stages are involved? If you think about all the circumstances, the process can take anywhere from a few days to several weeks or be delayed to get each document signed by all parties. So there is no doubt that it is quite a long process with the traditional signing method.

But, if you choose to use an electronic signature, you can complete the entire process of signing a document in minutes or even seconds. They don’t have to wait for printed materials to travel across the country or around the world. Everything is done instantly on a computer or mobile device.

The method eliminates manual steps and saves customers and dealers a lot of time and money. However, with electronic signature technology, you can receive, send, and sign the document anywhere and anytime. Besides, electronic signatures will reduce the effort required to store, secure, and manage paper documents.

2. Better Customer Experience

With the rapid increase in technology, consumers are also continually demanding fast and efficient interactions. Signing document online can reduce the need to coordinate meeting times and places to sign paper-based documents.

Besides, often a client is not available in a particular city or region. With this software, they can quickly review, understand, and sign the document easily from anywhere.

In face-to-face interactions, customer struggle to study the loads of paper work carefully and hardly ever understand what they sign. However, with the advanced technology – e-sign, you can make your customers feel better and informed about documents and processes.

3. Huge cost savings

In every growing business, it is essential to decide on finances – where to invest? How much to invest? What is needed and not? And many other factors. However, adopting electronic signatures for your business can save costs and provide several benefits to your business over a more extended period.

With the use of electronic signatures, you can make your business operations more economical. However, to decrease the overall business costs, such as mail, paper, ink, shipping, postage, printing, or the extra charges to convey the documents, there are numerous of signature software available online. 

4. Environment-friendly Solution

Everyone knows that paper is made up of trees and water, so the increased use of paper is not suitable for the environment. Earlier each year, billions of trees were cut down to make paper for industries, and it had skyrocketed 40%. 

However, using electronic signature software in your business can save a lot of wasted money on paper and physical storage space to keep records. Plus, it helps eliminate or reduce the need for scanning equipment and photocopy.

Therefore, we have to think about a better and environmentally friendly solution that could reduce or replace paper use.

5. Increased safety and security

When dealing with paper documents, it is essential to keep client documents safe. As there is always a fear that paper documents will be destroyed, stolen, misplaced, and falsified.

However, electronic signatures confer and ensure more excellent safety and security for your confidential and vital documents. Your electronic documents are kept secure with built-in superior security protocols implemented to send, receive, and store electronic documents.

But if you use electronic signature software, you can rest assured that your data or documents are in good hands. Since it has a tamper-proof seal, it is genuine and verifiable. It also means that if a document is changed after signing, you are instantly alerted to the modification. You can easily know the status of every activity log and timestamp of a document with the software. To verify the identity and signature, each signatory can have a PIN code or password.

Creating an E-Signature

There are several user-friendly electronic signature software options available online. If you are looking to create an electronic signature, the steps are simple and convenient.

• Download Software: Choose the appropriate software vendor like eSign Genie online, according to your needs, and download the software to your device.
• Draw your signature: draw your signature directly in the document using the mouse or draw using the touch screen.
• Enter your signature: now enter your name or add signature in word, which will automatically be submitted as an electronic signature.

Closing words

Electronic signatures will facilitate the process of signing all documents and keep everything safe. It also offers faster turnaround times for all tasks, saving your time and money, which you can say are the most vital things for any business.

However, in today’s era, electronic signatures play a crucial role in authenticating documents while maintaining security, increasing efficiency, and reducing the organization’s overall cost.