Why do I need an electronic signature?
If you’re wondering ‘why do I need an electronic signature?’ and are considering taking the leap to embed e-signatures into your business workflows, read on to discover why it’s a good idea.
The chances are, you have already used electronic signatures in other areas of your life, such as when signing for a delivery or signing a phone contract online. You can sign many types of documents easily online. So, adopting the process within your business could help iron out many operational challenges, improve security and reduce manual errors.
Why do you need electronic signatures?
1) eSignatures are safe, secure and confidential
Are electronic signatures safe? Small and medium-sized businesses often have to send out confidential, even sensitive, information or data to be signed and sent back. Knowing you can do that securely and safely is vital. Whether it’s a new hire agreement, invoice or sales contract that requires a signature, doing it digitally means sensitive documents can be encrypted and do not have to rely on the postal service or an antiquated fax system.
A recent report by the expert Industry Working Group on Electronic Execution of Documents found that electronic signatures are in many ways better and more secure than wet signatures. Lord Justice Birss encouraged individuals and businesses to safely use electronic signatures, because: ‘there is no need for an old fashioned pen and ink’.
2) Create a clear, digital audit trail
Having a comprehensive digital audit trail is another advantage of using eSignature in your business and seeing who has read and signed your document and when is one of the many benefits. By keeping a record of the signing process, it can protect you and your organisation from a compliance and legal standpoint. Electronic signatures are legal in the UK and abroad.
3) Electronic signatures improve time management
In so many business areas now, there is a need for speed and with DocuSign eSignature, 80% of all signature requests are complete in less than a day, and 44% in less than 15 minutes.. Electronic signatures cut back on the amount of paperwork and mean that you can receive signed documents back from colleagues and clients much more quickly and efficiently. It also reduces the likelihood of errors, which can slow down business operations.
4) eSignatures make it easier for customers to do business with you
Integrating the electronic signature process into your business means you can streamline the invoice and payment process, as well as simplify how your business communicates with other organisations, employees and customers. Electronic signature solutions allow a business to streamline its operations, which will help improve the customer experience.
5) They easily integrate with existing systems
Implementing a new process can sometimes cause disruption, which can be off-putting when a business needs to carry on operationally. The good news is that electronic signing can be embedded into whatever systems and applications your business is already using. You can create documents in various formats and then upload them to a range of file sharing sites, making them easy to access. DocuSign eSignature has over 350 integrations, which means that it most likely integrates and connects with the systems and tools you already use.
6) Electronic signatures are convenient and versatile
Businesses have customers, employees and contacts based worldwide. So, it makes sense that you can send documentation to anyone, anywhere, for them to electronically sign at a time that suits them. They can then send these back quickly and securely via a smartphone or tablet if they are on the go. Documents that require an electronic signature can also be sent in different languages, meaning that communication is no longer an issue.
Summary: Do you need an electronic signature?
It’s clear that electronic signatures have many benefits for all types of organisations, and thankfully, embracing electronic signatures in your business is quick and easy. Switching to electronic signatures should be a natural next step for your business. Try DocuSign eSignature for free by registering for our 30 day free trial and here are 5 things first time users of electronic signature need to know.