Companies usually have dozens of paperwork in their daily operations. There are always contracts, agreements, forms, and documents to be signed. Electronic signatures are an advanced way of signing documents without any paperwork. You don’t have to print or track who signed a particular document. Companies and businesses that use electronic signatures experience significant positive outcomes, from decreased documentation to more productivity and efficiency.
What Is An Electronic Signature?
Electronic signatures are symbols or data in digital form that are attached to an electrically sent document with the intent to sign it. They are easy and convenient to use as you only need to click the mouse for the electronic signing. There are different ways to create an electronic signature, like typing your signature using the keyboard, using the cursor to draw your signature, uploading an image of your signature, or using your finger on your touch screen device to trace your signature.
If you’re wondering how to sign a Word document and what the benefits of electronic signatures are, you’ve come to the right post. In the next five minutes or so, you’ll learn about the magnificent benefits of electronic signatures. Take a look!
1. Easy to Use
Learning to use and create electronic signatures is a walk in the park. You can search for available apps and online resources that can help you in using and designing your personalized electronic signature. Once you’ve created your electronic signature, you can attach it to any document you want.
An electronic signature is convenient for you and your associates as you can electronically sign a document in seconds from wherever you are on your device. It also ensures your work is done without any disruptions.
2. It’s Reliable
Electronic signatures are designed using tools offered by the Digital and Population Data Services Agency, meaning they are reliable. They warrant the integrity, originality, and indisputability of the signed document. Advanced electronic signatures give parties involved confidence in who signed the document, that the signature hasn’t been interrupted or modified after being signed, and that the signatory can’t deny signing the document or claim that there has been some modification to the document after signing.
3. Time-Saving
The process of signing paper documents can be tedious. You must follow a long process of printing, scanning, or faxing the document. If it has to be signed by several people, you must take the time to send and wait to receive the document. In worse scenarios, if the document has valuable information, you must arrange for an in-person document signing. It can get even worse when the document is misplaced, as you have to start the whole process all over again, which increases the risk of legal liability.
However, opting for electronic signatures saves you the hassle. It allows documents to be signed and returned in a matter of seconds. This saves your company a lot of time that’s directed towards accomplishing the company’s projects. Increasing contract and proposal speed helps maintain good relations with your clients while giving you the edge you require.
4. Cost-Effective
In businesses, managers are always looking for ways to reduce expenses and increase their profits. Adopting electronic signatures helps you avoid unnecessary costs of buying papers, pens, printers, and other costs involved with the paper-ink signing of a document. It also saves transport costs for in-person signings that come with paper documents.
Generally, electronic signatures help reduce the quantity of paperwork on your desk and the materials required to send and receive documents for signing. Moreover, it solves human errors incurred when signing a document manually. These errors and inconsistencies can prove to be costly in the long run.
5. Safe and Secure
When dealing with highly valuable documents, it can be challenging to ensure they reach the right people using the right means. Even after observing all security protocols, there are always risks of the documents being misplaced, stolen, or tampered with.
However, switching to electronic signatures ensures your documents are safe because:
- They quicken the signing process and lessen the exchange of hands
- They guarantee that no signature is missing
- They are difficult to forge and are legally binding
- Unauthorized parties can’t get access to the electronic document without permission
- Electronically signed documents provide information like the signer’s identity, time of signing, and location
- They can detect even slight alterations and adjustments, making them difficult to tamper with
- They can be protected with passcodes and biometric authentication methods for additional security
6. Independent of Time and Location
Unlike signing paper documents where you must be present in the office or arrange for an in-person signing, electronic signatures can be made from anywhere at any time. This is essential, especially with the increase in remote work; it allows documents to be signed remotely instead of the signatories traveling to sign a document. Location independence is important, especially when the same document is to be signed by several individuals. The signatories don’t have to find a location to meet; everyone signs from wherever they are.
7. Environmentally Friendly
Using electronic signatures has a positive impact on the environment and sustainable development. Electronic signatures significantly reduce the use of paper, which pollutes the environment. Also, paper is made from trees, so reducing their usage means fewer cutting trees, thus helping conserve the environment. Remote signings that can be done from anywhere anytime also help reduce travel. Travel reduction helps reduce the number of car accidents.
8. Method of Signing Across Borders
Electronic signatures are a fast and efficient way when documents need to be signed across borders. However, in the European Union, the electronic signature is guided by the EU’s eIDAS regulations. A qualified electronic signature (QES) is acceptable in the European Union countries.
Conclusion
Electronic signatures are advancements in technology with many benefits. Not only does it save you money but helps your business grow financially. Electronic signatures don’t interfere with your business operations; they integrate with business tools that you already possess, including Google Docs, PDF, Dropbox, Microsoft Word, and Salesforce, among others. You don’t need a reason for adopting electronic signatures; it’s a requirement for every business or organization.
