Why It Is Important to Consider Using Electronic Signature for Your Businesses?
The use of digital technology is directly associated with efficiency gains, resulting in higher competitiveness and economic development. The use of advanced electronic signatures, however, is not as common as anticipated, but it is one of the solutions that best helps to increase the competitiveness of business.
What does e-signing mean?
There are several descriptions of electronic signatures you can find. All these meanings essentially aim to illustrate is that an e-signature is an electronic type of data that can be used for the purpose of signing an electronic record or document and that, if it complies with the relevant legal regulatory criteria, it will have the same validity status as that of a handwritten signature.
The e-signature is a distinctive electronic signature that verifies and validates a document in the same manner as a paper-and-pen signature. Adoption of e-signatures, especially for legal, government, and business documents, has been on the rise for quite some time now.
Remember the difference b/w E-signatures & Digital signatures
Don’t mistake a digital signature with an electronic signature. While these two terms are sometimes used synonymously, they have distinct meanings, with the main difference being that authentication is involved in digital signatures.
In simple terms, the E-Signature solution provides business records with high security so that companies can operate their business operations smoothly and safely. To know more about electronic signatures, visit the official site of CocoSign.
Why is it important to consider e-signatures rather than conventional practices?
Now, let’s move on and explore the reasons why you should implement your business electronic signature, it will provide a response to the question of why electronic signature? There are a number of reasons for implementing electronic signatures. Let’s take a look at a few:
Easy to use
An easy procedure is involved in signing a contract with an electronic signature. Beginners may think that the use of electronic signatures is difficult, but electronic signatures have actually made the traditional signing process much simpler and straightforward.
The procedure is very quick and clear, without any problems, from uploading a document to exchanging it with the signatory to having it signed with an electronic signature.
If we consider the signature of the handwritten paper ink, it takes a range of steps from submitting the document to the signatory to getting the signed document back, such as printing, couriering, scanning, etc. In this way, documents and handwritten signatures based on paper are less effective.
It’s much easier than a conventional handwritten paper and pen signature to sign a document with a paperless electronic signature. But this is only possible if you are using a reputed brand like CocoSign who also provide free templates for all types of documents.
Because it is so easy to use electronic signatures, in a few minutes, everyone can learn how to use electronic signatures. And once the procedure is mastered, signing and submitting the signed document takes only a few seconds.
Free up time for workers
If signed contracts, consent forms or receipts are needed by your company, how much time do your employees spend handling those documents?
Most paper trails start by printing the document, giving it to a client or patient to review and sign, scanning to place it in a digital format in the signed document, and then either shredding the form or adding it to file cabinets or safekeeping storage facilities. This entire process is kept digitised by an e-signature.
Do not underestimate the cost of the employee’s ability to spend time on administrative tasks. If an advanced electronic signature system is developed, employees may use the time saved in sending signature documents (or in signing and returning signed documents) to perform other tasks that provide more value and eventually help increase the efficiency of the organisation.
A positive side effect resulting from the decreased use of paper is that it helps to benefit the climate. And the dedication of an organisation to the environment is crucial to retaining talent, since this is a distinguishing value for the majority of the existing workforce.
As it requires signing and approving a number of documents by different parties, it is a longer stage to implement any decision in the company. It is simply understandable that the more time it takes for this signing and approval process to enforce a decision in the action would be complicated.
Implement Decisions Quickly
It has been shown that most of the proposals are lost in between because of too many formalities between proposing an idea and making a decision. So, something is required that could fill the gap between the decision and its implementation. The procedures and formalities involved in making a decision can be fastened by e-signatures.
Through using e-signatures, the parties concerned will accept their decision and enforce it very easily through signing the electronic signature document. This is one of the reasons why electronic signatures are generally accepted for both business and personal use, and why they should also be part of your organisation.