4 Reasons to Switch to e-Signatures

4 Reasons to Implement to e-Signature

4 Reasons to Switch to e-Signatures

by Niharika Sharma

 

 

The digital revolution is changing the way many businesses operate and introducing many new solutions and technologies. While the benefits of digital solutions have always been present, they’ve proven even more critical to businesses as they adapted to the unprecedented conditions brought about by the COVID-19 pandemic.

Even one of the most basic elements of conducting business - getting and receiving legally-binding signatures - has been improved by digital technology. E-signature is a great example of how digital technology has helped companies update their processes and improve their customer relations to adapt to operating more remotely amidst social distancing guidelines and quarantine lockdowns. 

As more companies undergo digital transformations, it’s critical that your business begin adopting digital solutions like e-signature in order to keep up with the competition and customer expectations. 

Enhanced security

With an e-signature, you get peace of mind and you'll have less to worry about. While physical documents can be tampered with, lost, misfiled, or damaged in unexpected events like floods or fires, digital documents are much easier to protect. Whereas using a reputed e-signature platform offers robust audit trails, ensuring documents are only accessed by the right individuals. 

Faster document sharing

One of the biggest benefits of e-signing is speed. There is no longer the need to print and mail contracts in order to capture a signature - a particularly time-consuming undertaking when multiple signatories are required. With an e-signature or contract management platform, you can share your contract with many signatories in different locations and capture signatures without any hassle. Reading a document digitally is also much easier, as you get to skim through and search for necessary information quickly. 

Sustainable and environmentally friendly 

As per the University of Southern California, on average Americans use 85,000,000 tons of paper in a year which is about 680 pounds per person. Not only is the process of physically maintaining and mailing these documents expensive, but it is also not a sustainable solution. Using an e-signature platform will contribute positively to the environment by reducing paper usage.

Global acceptance and legal compliance

One of the most common concerns businesses raise regarding adoption of e-signatures is their legal legitimacy. Simply put, electronic signatures are becoming more widely recognized and accepted, including via legislation and regulations. The Electronic Signatures in Global and National Commerce Act (ESIGN Act), along with its precursor UETA, provides the legal foundation for the use of electronic records and electronic signatures in commerce. It validates that electronic signatures have the same legal effect as wet-ink signatures. When obtained correctly, an electronic signature using compliant technologies, certifications, and authentications will have full validity under the law.
 

Exela DrySign is compliant with all relevant laws and regulations, including the Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA). It uses smart tracking and powerful audit trails to improve compliance and mitigate risks. Not only will you be able to process your documents faster, but you get an audit trail on your documents. DrySign will make the entire process of document management easy - get in touch today to understand how it can assist your functions.