5 Ways Electronic Signatures Can Improve Your Business

Organizations that handle extensive physical documents daily can benefit greatly from electronic signature technology. A lot of time and money is invested in managing physical documents but by adopting the digital signature technology, organizations can pave the way for a paperless future.

Adopting the technology will also significantly impact the day-to-day operations of the organization positively. Enterprises can enjoy more efficient workflow, improved productivity, cost-saving, and time efficiency.

Without a doubt, electronic signatures can improve any business operations, whether small, medium, or larger enterprises.

To better understand how this works and how it can improve your business operations; let us look briefly into what digital signature technology is all about, using Signature Generator to put the concept in context. You can also check to know more of esign online free .

Signature Generator: What It Is

The Signature Generator is designed to demonstrate the authenticity of digital documents. This allows you to sign documents electronically and authenticate the signer.

Digital signatures are like fingerprints as they contain unique sets of data used for identification. They are valid and legally binding and can be presented in any court of law as legal proof.

One unique thing about electronic signatures is that they cannot be forged or altered. Any alteration made to them renders the contract document invalid.

Organizations that use digital signatures have assured the safety and security of their signed documents without any fear of compromise. So, how does Signature Generator improve your business operations? Here are the steps to use this tool.

Step 1: Register for a free account to start using the e-signature tool.

Step 2: Upload your contract or use any of the templates on the platform to create a contract.

Step 3: Share the link with recipients. You can also choose from available templates and adapt to your need. The recipients can access the site and append their signatures on the PDF document.

Step 4: Track documents to see the signing process with the recipients.

Top Reasons to Incorporate Digital Signatures into Your Operations for Business Efficiency

Are you still skeptical about investing in digital signatures? Here are the top five reasons why you should invest in a digital signature tool in the operations of your business.

Quick Turnaround

The process of getting traditional signatures is long and rigorous. There are many steps involved from the point of creating the document to getting the signatures.

First, there is a need to print the documents and then scan them before distributing them to appropriate signatories. The signers would have to download and sign the document one after the other and this can take a very long time.

The time-lapse between when the document is sent to the time it is received can vary from days or weeks. This is a lot of wasted time that digital signatures can remove. With electronic signatures, multiple signatories can append their signatures on a document and you can complete the signing process within minutes.

This saves time and resources invested in sharing, following up, and collecting signed documents. Digital signature supports quick turnaround time, giving employees more time to do other things that improve the productivity of the organization.

Cost Saving

Without a doubt, implementing business digitalization comes with a cost. However, it is cost-effective and cost-saving in the long run. Organizations that invest in a digital signature tool would not have to deal with sending physical documents anymore.

This means that the cost associated with printing, shipping/delivery, and scanning would be removed. Other indirect costs, including filing, archiving, tracking, or rekeying data will no longer be a cost to the organization.

Above all, there would be no need to worry about the safety and security of confidential files. With digital signatures, organizations can save significantly on costs related to document handling. It will also minimize the negative impact that paper waste has on the environment.

Efficiency of Workflow

With a quick turnaround, there are lesser delays in getting documents signed. This ensures better workflow efficiency. Generally, tracking and managing documents can be tedious. However, with digital signatures, everything is done digitally and the management and tracking of documents become faster and easier.

Instead of waiting for weeks, or even months to process a document, you can get the process completed within hours or even minutes. Organizing digital documents is also very easy.

All you need is to create files and folders in a digital storage space and store information in different segments. This allows easy access whenever you want as you can access digital files anywhere and anytime.

A paper-based workflow system is quite different from this. With a paper-based system, you have to manually store documents and when it comes to finding a document, it can take a longer, frustrating time to locate them. With digital signatures, business operation is more efficient and the team can be more productive.

Improved security

Electronic signatures minimize the risk of alteration and duplication of documents. It also ensures that all appended signatures are legitimate since each has to be verified and secured with a tamper-proof seal.

If there is any tampering with any aspect of a document that has been signed, you will be notified and you can take appropriate steps to mitigate this.

Signatories also have passwords, codes, and PINs that verify and authenticate their identity when they want to access the document. It also approves their signature.

A digital signature uses audit trails and encryption to ensure the security and protection of confidential documents. This guides against fraud and keeps information safe.

Improves Storage Space

Digitalizing your workflow means you have to deal with less physical paperwork. Your business would have fewer things to worry about with cabinets, drawers, and other storage facilities. The management and handling of paper documents will also be removed from the operations of the business.

Investing in digital files means that your files have been digitalized. You can easily store these in virtual servers that are connected to the cloud or any other IT network platform of your choice. This reduces your need for storage space and the time required in managing it.

Conclusion

Digital signatures have numerous benefits that are accrued to enterprises. Choosing to invest in them promotes secure and efficient workflow. Additionally, it saves the enterprise, money, time, and space. All these ultimately improve productivity and the bottom line.