Has your business gone digital yet? If yes, then it’s time to provide the convenience of e-signatures to your clients.
E-signatures remained unknown until 2020 when the pandemic forced everyone to adapt to a new way of working and find the tools to support this goal.
As the pandemic enabled us to digitally transform our business and keep productivity steady, many businesses started to send the document or contracts to their clients to gather e-signatures that ensured a hassle-free, streamlined workflow.
However, not everyone knows about e-signatures and how they can benefit their business. Some people even mistake e-signatures for digital signatures when the two share some similarities but have important distinctions.
In this post, we want to show you exactly how e-signatures can benefit your business significantly to help your team stay productive.
Are E-signatures Safe?
People often ask the first question when considering adopting e-signatures in their business processes: are e-signatures even safe?
E-signatures are actually the safest option, even safer than a handwritten ink signature. There are several points to explain why an e-signature can be one of the most robust ways to collect signatures:
- E-signatures are hard to forge, making them safer than a handwritten signature.
- E-signatures go along with a trail made of emails, copies of contracts, and signing documents, making them effortless to verify.
- Paper documents can get lost and are endangered by physical damage. Therefore the e-signatures are securely uploaded on any e-signature solutions like SigningCloud to ensure they won’t be misplaced.
- E-signature solutions also ensure that no third party can access any digital signature without the owner’s consent.
- Electronic signatures can be protected with authenticating passcodes for a more secure experience.
- Furthermore, electronically signed documents are mentioned with information about the signer’s name, location, and even the time of signing.
Furthermore, the types of e-signature also matter in terms of your document security.
There are three types of e-signatures, namely: Simple Electronic Signature (SES), Advanced Electronic Signature (AES), and Qualified Electronic Signature (QES).
Simple Electronic Signature
It is the simplest version of an electronic signature. This digital signature form doesn’t require any identity verification from the signer.
Advanced Electronic Signature (AES)
Besides the simple e-signature, the AES signature needs some identity verification. These signatures are based on certificates that identify the signer of the document. They are sent through a specific delivery service that provides audit trails and other evidence about the transmitted data.
Qualified Electronic Signature (QES)
These signatures are similar to advanced electronic signatures, but it meets further verification requirements. It requires public keys and proper identification of the signer, such as certificate authority. The identification can be completed face-to-face by a remote video chat.
The points mentioned above may have helped you understand the security of e-signatures. However, several e-signature software providers swear to be a good experience for business. Still, some websites don’t provide a good interface and experience.
Because of this, SigningCloud is known to be one of the best digital signature solutions for businesses across Southeast Asia. It essentially offers the best interface to companies and promises to provide a more secure and convenient option for you to sign documents easily.
To learn more about why you should be using e-signatures starting this year, let’s look at 11 must-know benefits.
11 Benefits of E-signatures you Should Know in 2022
Most successful businesses are now called big brands because they are smart about their money.
E-signature is an automatic process handled online, an effortless way to save money and increase the ROI. The digital signatures enable you to save money by eliminating packaging and printing charges your company bears.
Software like SigningCloud can help your company reduce the time it takes to sign and collect payments from your clients or stakeholders.
2. Increased Security & Reduced Risk
The digital signatures are legal and online binding that is difficult to forge, making them more secure than a piece of handwritten paper.
Moreover, it will be assured that your document will reach the right people due to the security verification of KBA (Knowledge-Based Authentication). An independent verification step needs IRS codes to keep your document security.
3. Easy to Use across Industries and Countries
E-signatures don’t require an individual to come to your workplace to sign. For that exact purpose, no matter where your clients are located, people you’d like to work with can benefit from using e-signatures, no matter where they’re from and what industry they’re in.
You can effortlessly send out the document from your phone or tablet to anyone within and even outside your organization, all accessible from a device of their choosing.
By using SigningCloud, for example, you can effortlessly send out the document to the party without any hassle of document shipping charges — making this one of the most important ways electronic signatures can save money for your company.
4. Workflow Tracking
Do you sometimes wonder if your document has been received, approved, or signed online? E-signature providers like SigningCloud can help you track your documents’ workflow with just a few clicks.
These E-signatures show you the complete trail of your document without using the actual paper, which makes it faster to manage, even in a pinch.
5. Improves Customer Experience and Loyalty
E-signatures give peace of mind to customers — letting them sign from any device and anywhere. Whether you are in the office or enjoying the holidays at the beach, you can quickly login into your e-signature software portal and effortlessly sign out the required document.
6. Boosts Productivity
When you use electronic signatures, you help boost employee productivity by saving precious time and resources in the signing stages of a document. So instead of spending hours commuting just to get signatures, you can now simply give your team access to an e-signature software that lets them work with your partners and clients with ease.
7. Saving Time
The most obvious advantage the adoption of electronic signatures offers is saving time. It can be a challenge to arrange meetings, and having to deliver paper agreements can be a hassle and risk losses while in transit.
Because of this, using e-signatures in your business processes saves time and money by cutting out unnecessary fluff from your team’s workday.
When you adopt electronic signing in your business, you can open yourself up to more remote and hybrid workplaces. For example, you can work with freelancers and remote workers who may be in completely separate states or countries, or you can onboard clients from anywhere.
The flexibility also makes it possible to keep your workflow going even if your team has people out of the office. Electronic signatures make it easy to sign from any device instead of relying on having documents by hand, so no matter where your team or partners are, they’re able to make secure and verified signatures.
9. Centralized Document Storage
When you use e-signature providers like SigningCloud, you can enjoy centralized document storage for all your files that have been signed. This makes it easier and simpler to keep a hold of contracts, agreements, and memos without the need to keep physical copies in an office.
And because you’d be storing these documents on the cloud, it becomes much faster to search for old files that might otherwise take ages to locate in a physical space.
10. Paperless Workflow
Of course, one of the biggest benefits of using e-signatures in your business processes is that you don’t have to face problems regarding printing, scanning, or meeting your intended third party in person.
You adopt a completely paperless workflow that lets everyone work faster and more seamlessly in the long run, without bogging down your work with slow and outdated alternatives.
11. Increase Collaboration
Finally, when you use an e-signature platform like SigningCloud, you increase collaboration between teams. Have teams work together in drafting contracts and memorandums, and easily collect comments and revision notes with less of the back and forth.
It also becomes easier to send out these documents for signing once ready, especially as anyone on your team can send documents that are ready for review.
Because of COVID-19, digital workspaces have become the present. So it comes as no surprise that functions like e-signatures have helped several businesses to streamline their workflows and keep productivity high even in the new normal.
E-signatures have several benefits for any big and small business, and there are a few downsides. And if you’re ready to get started, sign up for SigningCloud to see exactly how to skyrocket business productivity and start working more efficiently.