8 Benefits Of Using An E-signature Tool For Your Business

Do you still depend on printers, scanners, and mailing to get signatures from your customers? It’s time to consider using an e-signature tool for your business. An e-signature software is cost-effective, quick, and provides the goodness of digitization. 

Here are some other benefits of using an e-signature tool for your business. A good look at them will help you choose the best e-signature application that suits your business type. 

1. Saves Time & Cost-Effective:

One of the most evident advantages of electronic signature is it saves time. 

The severe difficulty we face with the wet signing procedure is the to and fro movement. You need a person or two specifically for this purpose alone. Using e-signature software will cut down these difficulties.

An e-signature app has an electronic link that allows document signing with a click. So no more losing of signed papers or facing legal liabilities. They are electronically attached to a proposal or contract and returned in less time. 

John Reed, facility manager of an IT company using an E-signature app, said, “Losing of papers in the transit had always delayed my business, and now it is no more as I’m using e-signature app for client signing.” 

E-signature tools are also economical. E-signature tools don’t require expensive printing, packing, and shipping methods. When your business cuts on such expenses, it will see lessened operations costs, optimum time management, and maximum returns on investment. 

When you use wet or physical signatures, both receivers and senders should print and scan docs many times. This process needs paper reels and pricey printer ink. Routine paperwork is restricted when you go to paperless offices. 

Carline Camila, a digital marketing agency owner, talking about the reduced costs, said, “Wet signing process took a lot of capital which is now a zero literally. I have used the same money to open a bigger office.”

Besides, you are going good on the environment and decreasing the supply budget. 

2. Fosters Productivity:

How often have you felt that your employees are not productive despite working hard? If the answer is ‘many times,’ question the other way. See if you’re using them primarily for routine work. If so, think of automation wherever possible such as e-signature tools. 

Automation gives your team more time to do what is needed and reduces mundane tasks. 

Christopher Anthony, a marketing head, speaking about the increased productivity, says, “With lesser worries on routine tasks such as manual looking of signed copies, I have more time left with me which allows targeting more clients every day.”

With electronic signatures, you are taking away the mundane task of typing the documents and sending follow-up emails to your recipients in the duration you set. Most of them have auto-reminder facility that will send reminders to the recipients. 

3. Augments Security and Lessens Risk:

Working hard to build a business alone isn’t enough; you should also know how to protect it. Minor tampering of a sign may cause heavy losses. So, how do you protect your business from such unforeseen risks? Go for security enhancers like electronic signature software. 

Technology increases security. Your business, or for that matter, any business, definitely needs technology to mitigate risks. When the stakes and signing processes are interlinked, E-signature software is necessary. 

Below are the points on how e-signature applications can lessen security risks.

• E-signatures have legal validity and so are enforceable legally. 
• They are hard to forge, thus making them additionally more secure than handmade signatures. 
• Generally, a digital audit trail comprising signing documents, copies of contracts, and emails escorts every e-signature. All these make assertion easy. 
• Paper signs are effortlessly fiddled with, while e-signature tools can’t. E-signature tools track even minor adjustments and alterations, making them more reliable than their counterparts. 
• Paper copies can be stolen or lost and are even prone to physical deterioration. 
• Skipping of mandated signatures is zero when electronic signatures are in use. 
• No 3rd partakers have access to electronic records without authorization. “Business deal leakages were rampant, especially with contract quotations. This is no more, and I also have that advantage of quick closure of new deals without security fear,” said John Derick, a senior marketing and liaison officer in a reputed infrastructure company. 
• Detailed labeling such as the signer’s location, identity, and the signing period happens automatically to electronically signed records, leading to high-security value.
• Biometric verification processes and passwords are integral features of electronic signs that further increase safety. 

4. Improves Conveniences & Unloads Archives:

Electronic signature tools are easy and convenient to access for your customers. 

Shalini Mehta, a customer relationship executive in a bank, speaking about the ease of using the app, said, “My work has come down tenfold, and even my customers are happy. They just sign. E-signature app is going well for my customers irrespective of their education levels.”

Documents reach the person on time and are easy to cross verify. No paper is left unsigned.

Do you still maintain a warehouse to keep paper documents and block up your usable space in the office? Then, it is time to start thinking of e signature apps that ask for no physical space, paper piles, or filing cabinets. 

David Burner, manager at a noted furniture store, said, “In fact, digitization of paper works has given us two additional rooms, now used to display kitchenware.” 

5. Enhances Your Customer Experience & Loyalty: 

Customers are as busy as you are or maybe even busier. They may not always be able to travel down to your office or available at their desk to sign documents. 

So when you help them get their work done faster and save the hassles of shipping, you provide a better customer experience and a loyal customer for life. 

Here’s what Mark Rozer, an insurance planner in a noted insurance firm, said post implementing an e-signature tool. “I had a customer who could not travel due to health issues, and this delayed document signing for more than a month. But once my company started using the e-signature tool, the signing process finished in an hour or so.”

Some signature software comes with a mobile app that makes it easier to sign documents on the go.

6. Boosts Employee Convenience:

If you have a predominantly mobile workforce, then e-signature applications are what you need foremost. Using these tools facilitates sending documents faster, easier, and more effectively. All these connotes doing your business quickly and increasing your reach to each employee irrespective of their location. 

Regina Cassandra, HR Operations in a telecom company, said,” Approval of field visits became simple due to the e-signature process. Staff mainly on the field had to wait for unstipulated time to approve their attendance and leaves. But now, it is easy with electronic signature approvals.” 

7. Tracks Workflows:

Tracking the status of your documents from each recipient is time-consuming. It also eats up a lot of your time. 

With an e-signature tool, you can track every document’s delivery, signing, and approval status. Mark D’Souza, an E-signature app developer, talking about how these apps can ease work, stated, “Scrutinizing signatures to keep them safe is easy with an e-signature tool.” 

8. Ensures Regulatory Consent:

One must stick to regulatory laws in every business transaction. Tracking paper records for observance issues can sometimes be challenging. As a business owner, you would very well know about the problems that arise during the audition of paper documents. Ensuring that papers are unchanged and not tampered with is essential to avoid cases and fines. It is where encryption technology in e signature apps comes to your business rescue. This technology will keep your documents safe and erase the chances of signature duplications. As such, you are mostly safe from unwanted disparities that arise due to improper maintenance of paper documents. 

”Signature tarnishing can be a severe hindrance when enforcing business regulatory laws. One way business people can avoid this is by implementing the e signature method,” suggested Glenn Mark, CEO of a corporate law consulting agency.  

So, these are a few of the e-signature tools benefits one gets by using an e-signature application. 

Keep the below points in mind to ensure the e-signature app you select is safe: 

• It should have Public Key Infrastructure (PKI). It is an industry-standard technology to check that documents are signed digitally. 
• It has security certifications and processes that fit global standards.

To sum up, however, you must choose an e-signature software that best suits your business type to get maximum e-sign application benefits.