Online Signatures or electronic signatures are the digital versions of a wet ink signature. It is legally binding and is an extremely efficient way of signing digital documents. It is an authorized way of getting consent or approval over any contract or document. It can be easily attached to any document. Nowadays online signatures can be used as a replacement for handwritten signatures in almost every personal and business affair. Some of the most popular uses of online signatures are in documents, contracts, admission and application forms, hiring and recruitment procedures, non-disclosure agreements, etc.
Using online signatures is extremely beneficial. In this article, we will be discussing the advantages of using online signatures.
1. Online signatures can be used easily across industries.
Unlike handwritten signatures which can be easily forged, misused or tampered with, online signatures are extremely secure. You can track who has accessed your digital signature. And in addition to this you get advanced security controls like automatic independent verification aka knowledge based authentication. Once you switch to online signatures we can assure you that your documents will land in the hands of the right people.
2. It is legally binding and is widely accepted across nations.
We understand that validity is just as important as the security of online signatures. You will be pleased to know that online signatures are completely valid and certified by trusted authorities. They are accepted globally so you can use them for finalizing business deals overseas. It won’t even matter in which corner of the world you or your clients are; you can sign documents right from your phone or laptop.
3. Online signatures make workflow tracking seem like an easy job.
By using online signatures you can easily keep a track record of who has opened your document, approvals, etc. you can even track down which of your clients have kept you on standby. Also, you wouldn’t have to keep a track of all that paperwork.
4. It is much better for the environment as you save a lot of paper
This one is quite obvious. Did you know that an average employee uses about 10,000 sheets of paper annually? That is a huge number and we are talking about just one employee. If you are someone who considers themselves an environment enthusiast, then you should not think twice before switching to digital signatures. You will save a ton of paper that goes in printing documents and contracts. This will definitely improve the reputation of your company among your employees and rivals as you will significantly reduce the impact your business has over the environment.
5. You will end up saving a lot of money.
In addition to saving paper, you will cut down on paper and printing costs. This is a big plus if you are a startup owner and have limited funds. You can direct those funds towards something else and in turn increase workflow and productivity.
6. You will leave your clients impressed and content.
We all love flexibility. Nowadays, clients demand real time access to all documents and thus you should add online signatures to your client portal software. Since your clients and stakeholders can quickly sign documents irrespective of their location; you will surely leave them impressed. They will not have to visit your office in order to finalize deals. In the long run this would help you in building a good reputation of your company and ultimately lead to customer/client retention.
7. You will save a lot of time.
Since you can now skip all the lengthy and boring paperwork, you will have a lot of time on your hands that you used to spend mailing, scanning, and printing. Also, think about the time you will save that was spent in waiting to hear from clients and god forbid if any important document is missing then you would have to resend the whole thing. Online signatures will help you in saving all those extra hours and make your work life easy.
So now that we have convinced you to switch to online signatures there are a few things we would like for you to keep in mind before you start using online signatures. One of the first things you need to do is pick an online signature vendor. An e signature vendor will provide you with solutions regarding digital signature technology and simplify digital signing for you. But you need to be very precise and choose the vendor carefully. The documents produced by the vendor need to be legally binding. Following are some of the factors you should consider before you decide on an online signature provider.
1. Make sure to clarify all your doubts regarding the e signature services. You should ask the vendor if the users need to verify their identities before signing and the process by which they can authenticate themselves.
2. According to the ESIGN act, a user should be aware that he or she is engaging in an e signature process. So the vendor should provide a visible and appropriate notice about the same to the users. The signer should also be given a chance to decline the e signature services.
3. Your vendor should provide a signature solution that features a proper audit trail which will track the actions of each signer and provide proper evidence of the transactions taking place.
4. The online signature services provided by the vendor should adhere to international standards and should be valid independent of the vendor.
5. The services provided by the vendor should be secure and protect the signatures of clients from being tampered with or misused.
6. Lastly, business deals can last for a long period of time and therefore the online signatures should be legally binding for a long period of time and there should be procedures in place for renewal of online signatures. Online signature is very important in today’s world. They are significant for online form submissions, transactions, and many more.