Before the proliferation of electronic signatures, whenever you had to sign or approve a document when you got it back in the mail, you had to either sign and date it by hand or place an x on it, get a witness to sign off on it and then mail it back. This was a highly inefficient way of working. Today, with e signatures, this entire process can be streamlined from a matter of hours to mere minutes.
Electronic signatures have aided in the efficiency of legal contracts and business processes across the globe. Companies use these e signatures both internally and externally.
Here is a walkthrough of six ways how e signatures can improve efficiency:
1. User-friendly and intuitive workflow
Electronic signatures are generally easier to use than handwritten ones, so they will allow you to sign documents faster and more accurately. When using advanced e signature software that is both user-friendly and intuitive, it is easy for users to navigate through their workflows. This is especially beneficial when it comes to tasks that require multiple steps or approvals in the contract signing process..
2. Accuracy and compliance
Electronic signatures have reduced errors by eliminating the need for manual data entry, which can lead to human error during contract creation or approval processes. Additionally, they are compliant with legal standards because they are time-stamped by computers instead of people who may have different interpretations of what constitutes “signed” versus just initialized or handwritten on paper copies of contracts.
3. Better team collaboration
Because electronic signatures are accessible from anywhere in real-time, this technology allows you to collaborate more effectively with other parties involved in your organization’s operations without worrying about manually sending them hard copies of documents for review prior before submitting back via snail mail again if there are any changes requested.
4. Reduced costs
With electronic signatures, there is no need for printing paper copies of documents which then need filing away somewhere safe – everything can be done electronically! This means that there are fewer costs involved with this type of signature than others might have before it became popularized within businesses around the world today.
5. Timely contract completion
A well-crafted electronic signature process will help you complete contracts promptly, which will reduce your risk profile. The process should also include detailed instructions on what needs to be done once a contract is signed electronically so that there are no delays in getting back to the customer, who is expecting an answer from you quickly.
6. Instant access to information
Electronic signatures allow you to leverage the power of data analytics to gain insights into how many contracts are being signed electronically and by whom. This information will help you better understand your clients’ preferences, which will help you tailor future campaigns accordingly and increase sales conversion rates over time.
From logistics to legal agreements, electronic signatures are changing the way of working and living. The legitimacy of these signatures is now being widely accepted within various industries as a matter of mutual trust and convenience. The growth of digital records cannot be fully credited to e signature software alone but it is safe to say that enough has been done to ensure an increased future adoption rate.