The world we are living in today is highly hyper-connected. Technology has penetrated every business sector and that is why we need to keep up with the trends for our businesses to be successful. You probably have already felt the pressure to ditch the pen and paper and embrace the digital workflow.
Electronic signatures have hit the business world at a high note and you should not let your business be left behind. So what are these electronic signatures? Well, an electronic signature is more of a process that involves attachment of an encoded signature to an electronic document such as email by the use of an electronic signature app.
The best part is that the electronic signature app is legally recognized by the GDPR 2016/979 law on privacy and data protection of citizens of the European Union. With such fascinating developments, your business is no longer limited to executing contracts on paper. Let’s look at some of the advantages of adopting this new-age trend in businesses in Europe and the rest of the world.
1. Better Security
The electronic signature app gives you better security guarantee as compared to a piece of paper. A contact on paper can be easily tampered with which is not the case with e-signs. That is because there are many contract management software’s that can quickly detect even the most minor alterations.
Also, the system used in the electronic signature app is able to trace the person who signed the contract, at what time and their location. In some cases, paper documents are subject to lose or damage which is also another risk that digital the electronic signature app eliminates.
2. Increased Speed of Contract Executions
An electronic signature app offers you more convenience as you get a faster turnaround. Instead of having to worry about sending the document to the other party, having them print it and sign then scan and send it back, everything gets done electronically in a matter of seconds. Such conveniences give your business better versatility especially when it comes to time-sensitive matters.
3. Lower Cost
As compared to the traditional paper method, the electronic signature app is more cost-effective. You get to save on paper usage, your time as well as supplies for postage mailing. This means that you will cut on mailing costs in your business.
There is no denying, there are some costs involved with getting the e-signature app for your business. But these are negligible costs as compared to the many demands that the traditional paperwork comes with.
4. Reduced risks
More importantly, the electronic process used in the electronic signature app helps to reduce the impact that is imposed by human errors on the contract such as signing mistakes.
In addition to that, the software used in electronic signing can help you to mitigate the risks by identifying suspicious records on the contract or any other compliance issues involved.
5. Better Customer experience
This is one of the key factors that influence the success of your business. Customers will be more satisfied when you interact with them in an easy and effective way.
Also, when using the electronic signature app, you get to save the time of your clients. Not to mention that the signing process will be much easier and convenient for them.Updated Date: 01 September 2019, 13:09