In today’s corporate world, E-Signatures are rapidly increasing and becoming a norm among top organizations. During the current crisis of Coronavirus, most of the world is working remotely, and businesses are going paperless. Electronic signatures are slowly replacing the pen-and-paper traditional signatures.
Paperless workflow is possible only when you make use of digital signatures. Recently, we have seen that most of the industries who opt for digital signatures, see a massive positive influence in their work. It reduces the cost of document creation, cuts down transaction times, builds more loyal customers, etc.
Investing in an E-Signature software is sure to revitalize your business and push it in the right direction. Let us know about some of the significant benefits that your business will get by using this form of signatures.
Faster and efficient document processing
It is no secret that using a good Digital Signature maker will significantly cut down the time a document takes for turnaround and finalization. The average document processing time was more than five days before. It is reduced to almost less than an hour with the use of online signatures.
While using pen-and-paper signatures, both the recipient and the sender have to print and scan multiple documents several times. Some contracts require more than one signature at multiple places. Most customers keep the work hanging until they have time to print and sign the documents.
As a result, the process takes a long time and some documents even get misplaced. This makes the process difficult to complete in a given timeframe. The use of electronic signatures allows you to make signatures on a contract or a document almost instantly without any hassles.
E-Signatures significantly cut down your costs
Around 60% of business owners who use digital signatures told us that using them massively reduced document expenses. The resources required for processing paper documents are plenty. An average employee uses 2 cases of papers annually. For an entire company, paper may cost up to $8000 yearly without considering the costs for printing, ink, repairs, storage, etc.
E-Signatures do not reduce the costs in all fields of a company. Still, a lot of money can be saved. It also saves precious time and effort of your workers, which in turn increases the overall productivity of your company. Buying or subscribing to an electronic signature software will cost you less than traditional ink signatures.
Most of the E-Signature software allow you to store online copies of standard contracts, proposals, PDFs, invoices, agreement drafts, etc. This will save a lot of storage space and effort for you.
High level of security and next to no errors
Almost all countries worldwide are coming up with rules and regulations regarding electronic signatures. The European Union came up with eIDAS while the USA passed the Electronic Signatures in Global and National Commerce Act.
Digital signatures are legally accepted and are more secure than ink signatures in most cases. Most of these signatures are done along with an audit trail, signing certificates, and previous copies of contracts. It is easy to catch any kind of tampering within the documents and the signatures.
Most of the E-Signature companies have the best tools to reduce errors in your documents, invoices, contracts, etc. You can use a variety of features available, which include templates, content, and workflows. The number of errors in documents is reduced by up to 80% by using digital signatures.
Massive boost in approvals and higher customer retention
Recent studies show that the companies that make use of an electronic signature maker decrease document turnaround time by 20%. It reduces the amount of time taken to make signatures, which is beneficial, especially when multiple signatures have to be made. You can even add features like payment buttons that allow the turnaround time to lessen even further.
Some documents and contracts require multiple signatures from people within an organization before going to the recipient. By using E-Signatures, this process can also be sped up, and the approvals take place faster. International deals are also easy to carry through this way.
For customers, it is easier to make digital signatures than traditional ones. They do not have to undergo the hassles of scanning and printing documents before signing. The level of security provided and the speed with which things happen appeal to customers. Moreover, customers can make their signature from anywhere by using any device, which is the best thing for them.
E-Signatures will give a positive return on your investments
Almost 80% of business owners said that they got a positive return on their investment within one year of switching to electronic signatures. Most of the software come with various tools and features that suit businesses of all sizes and shapes.
Most E-signature vendors allow their clients to use their services efficiently and for a great price. They provide proper support and help so that making the transition to paperless digital signatures can be easy and faster.
You will see a great boost for your business overall by saving the costs of paper and document-creation. It is enough for a company to switch to digital signatures. No third-parties are able to access your documents, and all the data is secured using strong algorithms and encryption. Do not hesitate in investing into an E-Signature software as it will be totally worth it in the near future.
It is safe to say that E-Signatures are replacing traditional ink signatures rapidly in today’s modern time. In the above blog, we read about some of the major benefits that using digital signatures can provide to your business.
It is the right time to invest in an electronic signature software to make your business go paperless. You will surely get a positive return, and its use is even beneficial for the environment. eSign Genie is one of the most reliable and secure E-Signature tools available to use. Choose the right one for your business and go paperless as soon as you can.