Although e-signatures have been available for more than a decade, the popularity of this new technology is on the rise. From reduced transaction times to enhanced security, these 10 benefits are major reasons for businesses to consider an e-signature solution.
1. Improved Productivity
By reducing the time that it takes for a document to be delivered, signed and returned, e-signatures help to reduce wait times and improve your business’ efficiency and productivity.
2. Reduced Waste
Printing documents requires paper, ink, shipping materials and other components. While this might not seem like much waste, the costs can accumulate quickly. Eliminating physical documents by using e-signatures offers reduced waste and expenses.
3. Reduced Storage Requirements
With various legal requirements and liabilities, (Silanis has a good e-signatures resources page that explains all the legal aspects of e-signatures) most businesses must archive any documents and contracts for a number of years. Over time, the space and cost requirements for document storage can become staggering. A single cloud storage solution or local server can store millions of e-signed documents while requiring less space than the average filing cabinet.
4. Improved Security
Multi-factor authentication, encrypted transmission and other security measures offer numerous ways to secure your e-signature documents. Many of these security benefits are exclusive to digital documents.
5. Ease of Use
E-signature platforms offer numerous options when it comes to branding and designing your e-signature interface. This allows you to ensure that the process is always simple for all parties that might be involved.
6. Increased Convenience
Most e-signature platforms feature many ways for recipients to sign your documents. From smart phone applications to website interfaces, delivering documents and obtaining signatures is convenient and quick.
7. Greater Flexibility
Whether your business is new to digital documents or has an existing document management system in place, e-signature solutions offer numerous ways to improve and integrate with your existing workflows for improved flexibility.
8. Reduced Costs
Each step in drafting and signing a document involves financial investment. From postage and paper to delivery fees and in-house writers, these fees can drive up the cost of a transaction significantly. Utilizing e-signatures reduces and consolidates many of these costs for increased savings.
9. Easy Distribution
Signing documents with multiple parties is complicated. Each draft or revision results in multiple mailings. This can become confusing and inefficient fast. With automated updating and delivery, e-signatures make it simple to distribute documents.
10. Improved Tracking and Accountability
Tracking deliveries, monitoring the steps in the traditional signature process and streamlining your process requires a significant time investment. E-signature platforms allow you to check the status of any document within seconds. This allows for improved tracking and greater accountability throughout the distribution and signature capture process.
From reduced costs and waste to instant updates and improved accountability, e-signatures offer many important benefits for businesses.
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