Top 10 Uses of Electronic Signatures for Small Businesses
What are the most uses of electronic signatures for small businesses?
As the business world started being open to the new technology, all businesses processes kept improving gradually. A perfect example of one such technology that significantly enhanced operations is electronic signatures. Adding an electronic signature to the word document service enables businesses to sign documents back and forth in an official manner.
If you work in one organization, you could have run into a situation where you were probably expected to sign electronically. This is because more and more businesses across all service industries have embraced online signature technology for many good reasons. There is no doubt that the process of getting and storing signatures can be expensive.
However, replacing a physical signature with an electronic version helps in saving time and money. The ability to create an online signature ensures legal compliance and security from any tampering or forging. You can consider an electronic signature to be a digitized version of a paper-based name.
When compared with a physical signature, an electronic signature is capable of offering many benefits. Below, we will see the top ten uses of electronic signatures for small businesses.
Top 10 Uses of Electronic Signatures for Small Businesses
User-friendly
The first and the most important benefit that comes with using an electronic signature service is that it is user-friendly. The technology is intuitive and simple to use as well. Using an electronic signature service, it becomes very easy to upload your document, sign it, and send a secure link to the receiver.
After you are done sending the link, the recipient will sign the document and the process will be over. The process is really that simple. Use the signature by opening the link and within a few clicks, the job will be done. This means that there is no need to waste any time with manual physical signing.
Quick Turnaround
Yet another amazing thing about using the electronic signature service is that the technology offers a quick turnaround. Traditionally, we have been used to printing, signing, and scanning a document and then sending it to a third party. This is a process that was not just considered lengthy but also took considerable time.
However, when we create an online signature, it becomes possible to sign the documents in just a few seconds. The use of Uses of Electronic Signatures for Small Businesses in the modern business environment opens many different opportunities and also works in time-sensitive conditions with full effect.
Security
Electronic signature service is capable of offering a great level of security. Many use cases have gone to make us believe that the use of this technology is completely safe as compared to paper documents.
In fact, the technology is so innovative that it does not just contain a signature but it also includes other important information. For instance, information like who has signed the paper, the time and place of signing, and a lot more can be known. You can actually keep a track of the entire process. This is not possible with the traditional signatures.
Remote Authentication
For a business to become successful in its true nature, geographical borders should not be a limitation. Hence, many businesses all across various industries work hard to close deals with customers, partners, and suppliers. When you go for manual signatures in this case, it can take months to close a deal.
On the other hand, electronic signatures offer remote authentication. With only a couple of clicks, all parties involved can sign the documents. There is no delay in the documentation completion or authentication because the documents are easily signed from a distance.
Streamlined Workflow
Using the electronic signature service enables you and your business to get paid quickly. This is all the more on accounts that require multiple signatures.
It is actually very easy to track all documents and know where they are in the phase of the signing process. The streamlined workflow and quick payments make the job of collecting an online signature very easy.
Online Storage
Electronic documents are stored on the cloud which means that there is no need to find extra room for the physical documents in your workspace. Online storage is all the more useful, particularly when you are already struggling to find room for everything in the first place.
Sending online documents using electronic systems means that there are no paper costs involved or there is no need for printing or anything. You can in fact take comfort in the fact that a lot of unnecessary costs that are spent on storing the papers are saved.
Audit Trail
When you use an electronic signature service, you can get instant responses from the receivers while keeping track of who has and who hasn’t signed the documents. There will no longer be any waiting around on couriers or the postman. You can send the electronic documents and get them signed digitally while the document arrives back in the inbox.
In addition, you can actually see your sign rate going up and keep a track of everyone who is yet to sign the documents. It means that you will know who to send a reminder to while getting a complete audit trail of everything from the point of posting. You will be able to see if the documents have arrived at their destination yet or who has and who hasn’t signed the document.
Cost-effective
Electronic signatures are pretty much cost-effective in comparison to the pen and paper signing methods. The main reason for this is that you can save money on paper, postage, and printing. Sometimes, businesses make the mistake of thinking that paper is a minor cost.
However, when you really begin to evaluate the cost, the traditional document signing requires not just purchasing the paper but also handling, printing, scanning, delivering, and storing paperwork. The adoption of an electronic signature service can help in saving a lot of money. All you have to do is to choose the right technology and have a good internet connection that can save your time and money.
Improved Customer Experience
Small businesses are at risk of losing deals if there are delays caused by unsigned documents and other errors. Small and medium-sized businesses have to start adopting innovative methods to offer the best customer experience.
All customers always prefer work processes that lead to an ease of completion. When the documentation is completed online, the customers will prefer the businesses because of the ability to make things easy electronically.
Security
The electronic signature service gives many businesses the ability to keep a track of documents and signature security. The service also offers real-time updates on the status of the signature. The solution can monitor the number of people who have seen the document but have not signed it yet.
The online signature is also capable of tracking the number of recipients that have signed the certificate and sent it to you. It is possible to send reminder emails to the recipients who take a long time to sign the document.
Conclusion:
We can see that the Use of Electronic Signatures for Small Businesses improves business processes in many ways. Honestly, the size and nature of the business do not matter. If an organization wants to enjoy profits then there is a need to use each second.
Hence, electronic signatures are becoming more like a necessity rather than an option.
