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5 Ways Electronic Signature Can Benefit Any Business

You might still be skeptical about the use of electronic signatures on legal documents in your business. But as more businesses race towards digital transformation, it is high time you consider trying it out. Otherwise, you might be left behind by your competitors and customers.

According to Fortune Business Insights, the demand for electronic signature solutions will reach up to $7.99 billion by 2027. This is due to global businesses’ endless pursuit for innovation and digital transformation. Moreover, the shift towards remote work means more people are using electronic signatures to sign documents.

So if you still need some convincing, here are some of the eSignature benefits you can get for your business.

  1. Faster document turnaround time

Through the use of eSignature, you can save up on time and effort in finishing transactions with clients, employees, or partners. Unlike traditional signatures, you no longer have to print the contract or document and physically send it to them to sign. And as if it wasn’t long enough, you also have to wait for the other person to sign and then send it back to you.

Electronic signatures can drastically reduce document turnaround time. Upon typing down the document, you can immediately send the item via email or through cloud storage. From there, the recipient can sign and send it right back. In just a few clicks, you can already obtain the signature you need.

This can result in faster implementation of decisions within your organization. By using esignature, you can quickly secure all the stakeholders’ signatures to gain approval for a project or proposal. And with the reduced document turnaround time, you can minimize the gap between decision and its execution.

  1. Save up on cost

Aside from time and effort, signature can reduce your cost for document processing. Through it, you can do away with buying papers, pens, inks, and printers. Moreover, you don’t have to worry about paying for mailing, shipping, and packaging fees since you can just send the documents directly via the internet.

And with the money you can save up from electronic signatures, you can re-invest them into a reliable esignature solution for your business. There are many software options to choose from. Some can offer their services for free, while some offer flexible subscription plans, depending on what your business needs. So go ahead and check them out.

  1. Secure document and minimize the risks

Another reason why use electronic signatures is its added security to your documents. Paper documents can be fragile. Get it slightly wet and the signature in it might smudge. Any forms of damage or tampering can render the signature useless and invalid. Worse, transporting paper documents can leave it more exposed to the elements.

Electronic signatures can minimize those risks. Since it is digital, you can be sure that it won’t get torn, wet, or set on fire. Better yet, you can automatically have several copies of the signed document so you won’t be able to lose it.

Nowadays, many countries recognize the validity and legality of electronic signatures. In fact, esignature solutions provide extra layers of security for your signatures. It can link your signature to the document itself and protect it using robust encryptions so that nobody can tamper with it

  1. Opportunity to use automations

eSignature solutions offer a lot more tools other than allowing you to sign documents electronically. It can also provide you with automated functions to streamline document signing and processing. This allows you to eliminate repetitive tasks.

For example, instead of re-writing your signature again and again on different contracts and documents, you can have the software remember your signature. This way, you can just stamp it on other documents to save time and effort.

  1. Seamless digital experience

You can make the most out of an eSignature software by integrating it with your other business applications. You can connect it to your email service provider, productivity suit apps, project management software, and digital calendar. This provides you with a seamless digital experience in processing documents.

Schools and universities can also take advantage of an eSignature software during online classes. You can integrate it with your attendance software, student management software, and learning management system. This can come in handy to verify your students’ identity. So whether they are taking a philosophy degree, communication course, or a masters, you can verify their attendance during class.

A changing society

The world is moving towards the digital age. As a result, people’s demands are changing. Your business must be ready to adapt to these changes and embrace them whole-heartedly. Hence, it is high time you set aside your doubts on electronic signatures and try it out.

The same is true with schools and universities. The COVID-19 pandemic showed just how much people’s lives are inexorably linked to digital technology. You need to invest in the right tools to make sure that your students can learn effectively and safely. A great example is Edusign. This tool automates student attendance, allowing you to focus on things that matter more. Go ahead and check it out.

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