A Handy Guide To Electronic Signatures

Due to the latest technological advancements in how companies conduct business, the digital revolution continues worldwide. Due to the record amount of people who work from home or remotely, businesses have started shifting from manual to virtual and digital. In turn, this has forced more reliance on digital documents for reporting, tracking information, orders, and generally – work.

And since most transactions are now conducted online, a lot of companies have also upped their security measures, keeping sensitive customer information and company data safe by electronically signing online. If you’re looking for a way to digitize and secure business documents which require customer or stakeholder signatures, check out the below guide to electronic signatures.

What Is An Electronic Signature?

Electronic signatures are the modern alternative to pen and paper. They’ve become a vital business tool for mobile professionals in this digital era. An e-signature refers to an electronic data form used to execute signatures on electronic documents and records, with the same validity as physical handwritten signatures. Adopting this signing technology is highly beneficial in dealing with businesses, government agencies, and legal documents.

E-signing with stylus and tablet

Patient adds an electronic signature on a health insurance contract using a tablet. Advanced technology in the modern hospital.

Key Benefits of Electronic Signatures

Electronic signatures are beneficial to businesses nowadays. But in what ways could electronic signatures help your business?

eSign Documents In Minutes

You can sign documents and send them in minutes with electronic signatures, which is made possible by specialized online tools. Electronic signatures allow you to sign documents online, fast and easy. It means you can close deals wherever you go.

Store and Manage Documents In The Cloud

With electronic signature software, you can store and access all signed documents in the cloud automatically. Hence, you have an online repository to always keep track of important documents. Get peace of mind that you can still use or access those documents in the future.

Prevent Document Tampering

Tampering documents isn’t a new concept. You’ve probably heard news about fraud and falsification of documents. With electronic safety measures evolving such as blockchain protocol, tracking all stages of almost all processes has never been made easier. You’re assured that you can safeguard the authenticity and legality of documents with electronic signatures. You could also prevent document tampering by limiting who can view, edit, and sign these documents.

Know Where Documents Are Signed

A great feature of electronic signature platforms includes geolocation. Now you can capture the exact location of a document signature. You’ll be able to identify whether a signature comes from a company-approved mobile device or a home computer. That way, you can confirm the validity and legitimacy of the signer and the document.

Save Time and Resources with eSignatures

Using eSignature software hastens the turnaround time in signing electronic documents. You don’t need to print, scan, or post a document. Further, you don’t have to wait for the recipient to sign and send the document back to you. Paper document signing can be time consuming; you don’t have to retrieve documents by looking through piles of paper to search for the file that needs approval. With an e-signature, process urgent documents in just a few clicks and within seconds. In addition, modify and share the documents with the relevant parties quickly.

Make Sound Business Decisions

The more time you spend on the agreement process and signing documents, the more time you spend in decision-making. With electronic signatures, you and important stakeholders in your company can sign and approve numerous documents simultaneously, allowing you to enact and enforce decisions in real time. Don’t lose your momentum from your meetings and make smart business decisions by hastening the agreement process with electronic signatures.

Increase Productivity with Electronic Signing

With eSignatures, you can improve productivity in the workplace. Your employees can focus on more important tasks instead of wasting time and energy in getting approvals and pen signatures from different parties. For example, your employees can use templates to create forms you use in the office every day.

How Electronic Signature Software Works

Electronic signature technology is straightforward to use. Choosing a reliable eSignature platform allows people to sign documents on any device, anywhere and anytime. You can prepare everything without too much pressure for those who sign online. Here’s a short run-through on the eSignature process:

Step 1: Upload

The first step is to drag and drop a document to upload in the online electronic signature tool’s interface. Once you upload the document, you can create initials and add the date, the company name, and the signature fields for other signatories.

Step 2: Invite Others to eSign

The next step is to invite other people to sign the digital document via email. Recipients can type in their initials, upload a scanned copy of their handwritten signature, or create an electronic signature with a stylus pen, trackpad, or mouse.

Step 3: Set and Receive Notifications

After the recipients finish signing, you’ll receive an email instantly with a downloadable link to the signed document. Electronic signatures make a unique mark in an electronic form to validate and verify a document like signatures do in physical documents. As the business world is set for another major change in how they operate, electronic documents have become indispensable tools in day-to-day operations, now that more are looking to conduct their business online. So, not only can you sign documents anywhere and whenever you want, you can close more deals faster. Whilst also ensuring the safety of your company’s private data by adding a layer of protection with electronic signatures.

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