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8 Advantages of Electronic Signatures in Business, Help Increase Productivity

 

In today's integrated world, conventional methods for signing and validating documents are increasingly overshadowed by advances in technology. The system has changed, and we rarely see letters and papers delivered.


Businesses that are growing along with technological advances are now changing their playing location in the digital world. Important documents are now passing on the internet network and arrived at the email on your computer.


In order to adjust to this progress, everything related to documents has also developed, one of which can be seen in the form of electronic signatures. An electronic signature is a form of electronic data that can be used to execute a signature on an electronic document or record.


This type of signature has the same validity status as a wet ink signature. In other words, an electronic signature is a distinguishing mark in electronic form that validates and verifies a document, in the same way as a signature using a pen and paper.

However, one of the goals of technological development is to offer differences and advantages. The use of electronic signatures also has its own advantages, especially in business. Quoted from esigngenie.com, here are some of the advantages of electronic signatures in business.  

Save Resources and Time

                                           

The first advantage of electronic signatures is to save resources as well as time. Electronic signatures will speed up document completion times. No need to print, scan, post documents, wait for recipients to sign and send them back to you.


With electronic signatures, you can process your important documents in just a few clicks and seconds. What's more, the existence of an electronic signature platform also allows you to sign documents anywhere, anytime and on any device. This is especially important if there is an urgent matter or, when you are out of the office.

Faster Decision Implementation

The second advantage of electronic signatures is that they are able to implement decisions more quickly. Implementing decisions, especially in an organizational environment, is not easy.


Many documents have to be signed and approved by many stakeholders. And as you know, the more time it takes to sign and process agreements, the more time it takes to make decisions.


It's not uncommon for even sound business decisions to get lost in the middle of all the procedures and lose momentum over time. So to reduce the gap between a decision and its implementation, you need an electronic signature to speed up the formalities associated with the approval process. With stakeholders quickly signing off on important documents and delivering decisions, you can implement those decisions more quickly.

Increase Productivity       


The third advantage of electronic signatures is that they help increase productivity. The time you save when using electronic alert technology makes you more productive and focused on more important tasks. You can automate document flow and eliminate repetitive tasks. For example, if you use the same document every day, the template feature incorporated in the e-signature application can come in handy.


Reduce Cost

The fourth advantage of electronic signatures is that they help you reduce costs. Compared with the traditional way, using an electronic signature to sign a pdf document electronically or sign a Word file electronically, is more cost-effective. You save on paper, printing, packaging and shipping costs.


In addition, electronic signatures also help reduce the financial impact of human error, which occurs due to signing errors that slow things down. A typical wet ink signature has many errors and inaccuracies, and this can have a negative impact on a company or business.

Minimizing Risk

The fifth advantage of electronic signatures is that they are able to minimize document-related risks. Paper documents are rather fragile and easily damaged. In addition, you sometimes also send important documents, waiting to be sent back, and realize that some signatures are missing. An electronic signature eliminates this risk.


What's more, the electronic signature system adds to the security of your documents, thanks to a strong encryption algorithm. This means that no third party can access the document without your consent.


Reliable electronic signature tools also guarantee maximum control over your workflow. For example, it lets users track all adjustments made to a document. Thus, they are confident that the document is uninterrupted and 100% secure.


Safer

Under electronic signature laws such as the Uniform Electronic Transactions Act (UETA) and the Electronic Signature in Global and National Commerce Act (ESIGN Act), electronic signatures have the same legal status as wet ink signatures on any document.


Most digital signatures use additional security features, such as bank-grade encryption and biometric signature retrieval, to reveal the real identity of the signer.


Then, the electronic signature requires the document to be signed exactly, which compels the signer to fill in all the blank fields before hitting the submit button. And last but not least, the pages of documents sent to related parties cannot be tampered with. This assurance, from document integrity and signer identity, leads to a more reliable and more defensive deal.          

Improve Customer Experience                

Client satisfaction is a key factor influencing business success. Clients will be happier if your relationship with them becomes more efficient. Electronic signatures save clients time and make the whole signing process much easier for them. They can sign documents anywhere, anytime they want, and use any internet-enabled device they want.


Increasing Environmental Credentials

The last advantage of electronic signatures is that they can increase environmental credentials. Customers are now more environmentally conscious than ever before, and they are always demanding that they do business with companies that take environmental credentials seriously. Signing documents electronically means you are on the right track due to minimal paper usage. In addition, you will also have the opportunity to enter the business category that the client likes.

                                          

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