Have you made the switch to electronic signatures? If not, what are you waiting for? There is so much to gain by going electronic. For starters, electronic signatures enable you to simplify the process of signing documents. Businesses of all sizes can now expedite this simple task that always keeps clients waiting.
5 Most Crucial Reasons For Switching To E-Signature Technology In 2023
Do you want an effective and seamless way to close your contracts? Then making the shift to electronic signatures is the way to go.
Companies that help business owners collect and manage digital signatures report that more businesses are jumping onto the electronic signature bandwagon, so don’t be left behind.
Businesses are increasingly embracing e-signatures because signing documents, like all other mundane administrative tasks, is being digitalized.
If you’re still unsure about making this shift, this article will help change your mind.
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1. E-Signatures are Legal and Secure
You heard that right! You don’t have to worry about non-compliance because e-signatures are legal.
Additionally, when you switch to electronic signatures, you can be assured that your contracts will be properly stored and managed.
In fact, e-signatures are now regarded as the digital equivalent of wet ink signatures. The federal ESIGN Act that was signed by President Bill Clinton in 2000 made sure of it.
2. E-Signatures are Safe
It is getting clearer as the years go by that electronically stored information is much more secure as compared to their paper counterparts. If you’re already storing information digitally, switching to electronic signatures won’t be hard to adapt to.
The beauty of e-signatures is that they inform you of the person that made the signature. This makes tracking contracts very easy. Not to mention the ability to protect your contracts from unauthorized access and tampering. Paper documents are so easily stolen, misplaced, or forgotten.
With paper, one can easily manipulate a signature to alter the outcomes of a closed contract. In fact, most ID thefts that have been reported over the years have been possible because of the loopholes in paper transactions. When you go digital, you can encrypt contracts to ensure no one else can access them but you.
3. E-Signatures are compatible with the Digital Working Environment
Since the working environment has gone digital, e-signatures will integrate perfectly with the tools you have installed. There are e-signature platforms put in place to guarantee seamless executive operations.
Applications like Dropbox, Google Docs, Microsoft Word, and so many more are e-signature enabled. When you’re looking for an e-signature provider to partner with, remember to request a list of all the products and platforms their service is compatible with.
As a business owner in today’s digital era, you should take advantage of applications and platforms that save you from the tediousness that comes with faxing, printing, overnight mailing, or scanning of documents.
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4. E-signature is Future-Oriented
Many business owners who have not yet made the switch to electronic signatures are using the excuse that what they’re doing works. The thing about digital transformation in the work environment is that sometimes it can be gradual, but that does not mean you should lag behind.
Just because something still works for you does not mean it is the best solution for your business. Once you try out e-signatures, the scales will fall off your eyes, and you’ll realize just how much you have been missing.
If you’re still waiting for a week or more to get your contracts signed, you’re doing things the wrong way. Rather than letting your business deal with so much downtime, why not go digital?
The time used to rectify signatures that weren’t done right could be used to fulfill far more pressing business responsibilities. Imagine how further ahead of you, a competitor who is already using e-signatures is, and let this be your motivation to finally switch to electronic signatures.
5. E-Signature is Affordable
This is probably the most obvious reason to make the switch to electronic signatures. Whereas the cost of an overnight express envelope will vary based on the distance and the carrier, business owners should focus more on time and not on the dollars.
In business, time is as valuable as money, and that is why you should go the electronic way. E-signatures save you from dealing with re-keying data, manually processing errors, scanning, and printing documents, manual signing, as well as emailing documents.
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Onto the Future
Now that you know why you should make the switch to electronic signatures, what are you waiting for? E-Signature providers are helping business owners to make a seamless shift from paper to electronic workflow. Thousands of companies are already using e-signature platforms to ensure their documents are safe and secure.
Regardless of the industry, you’re in, there are bound to be high instances of signatures. Make the switch now to keep up with the ever-evolving e-signature platforms.
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