Nowadays, technological progressions such as electronic or digital signatures dominate traditional ways of validating and signing documents. The recent years have required many business owners to change how they run their firms to keep their business operations. For example, many companies today adopt opportunistic methods like digitalization to embrace disturbance and maintain a competitive advantage. For that reason, digital workplace environments have increased, and this has encouraged businesses to adopt electronic signature technology solutions such as jSign to sign documents online from wherever they are.
Digital or e-signature is an electronic process or symbol joined with a contract or record. Instead of doing the conventional document signing, you use e-signature technology to sign documents online quickly. Although digital document signing varies from one country to another regarding the laws and regulations, most counties have the same fundamental principles about signing documents. Accordingly, if you’re an entrepreneur, you should keep in mind that adopting digital transformation, such as utilizing innovative technology, is the way to ensure business continuity. Moreover, if you’re considering leveraging e-signature technology, below are some of the primary benefits of adopting this process.
Enhanced Security
Electronics signatures are quickly growing as more companies and organizations have seen the benefits of the electric signature process. If you’re an entrepreneur who worries about the security of e-signatures, there are critical security points that this service offers to you. First, when it comes to the safety of the service itself, signing online usually takes place in a browser to ensure scalability. Moreover, e-signature frequently employs an encrypted Hypertext Transfer Protocol Secure (HTTPS) to ensure that no one can spy on any mobile user’s connection.
When it comes to the legal validity of e-signature, you can validate your identity digitally through a robust electric identification. For that reason, if you sign a document electronically and you have confirmed your identity with your bank identification, this process is legally as valid as the conventional document signing. In addition, electronic signatures also have a digital record that works as proof of transaction and audit trail. The audit trail covers the reports of activities taken with the document, such as the details of viewed, signed, and when it was opened. This process means that if you have any issues with the transaction, the audit trail is available to whole participants and can solve your objection.
Upgraded Business Productivity
The primary agenda of moving to a complete digital signing system is to enhance operational efficiency, making it simple for clients to do business with you. Electronic signature technology can perform beyond allowing your partners, employees, and customers to sign documents anywhere, anytime, and on any device digitally. Therefore, it automates many sections of the signing operation, such as enforcing business practices to return documents without any data omissions and errors and comply with all the laws and regulations.
Furthermore, reducing document errors and manual processing allows your team members to focus on their primary roles and responsibilities instead of running after people to have them correct errors and sign documents. For that reason, this process leads your business to a productive and better experience for everyone doing business with your company. Furthermore, e-signatures can integrate with your company’s systems, which means you can simplify the existing business workflow. Plus, electronic signatures are simple to use, and most people interacting with your brand might no longer want to go back to the inefficient methods of document signing. It’s because today, they can sign on a tablet, laptop, phone, and desktop from any location using digital signature technology.
Financial Advantages
Instead of investing in expensive traditional pen and paper document signing methods, e-signature denotes notable savings, particularly for companies that deal with a high volume of agreements. Conventional document signing, such as preparing, mailing, and printing contracts, takes significant business time your team members could spend on higher-level activities. But with e-signatures, this business time spent reduces significantly, which minimizes the money required to perform new agreements.
Moreover, preparing documents and transferring them to all team members in a signature transaction is exhaustive. But by implementing e-signature technology in your company, you can no longer do such an intensive task and print the documents in a conventional way of making physical storage for them. Apart from saving business costs from the transactions of signature and printing for physical storage, your company can also benefit from e-signature regarding the opportunities for overseas trade as you don’t need to depend on time-consuming methods. Plus, there’s no need for you to employ team members to assist authorities in validating transactions in foreign jurisdictions.
Another financial advantage that e-signature technology can give you is the limitation of errors regarding documents. By having limited errors, you can reduce other issues that lead to business difficulty and delays. To put it simply, you can reduce business operational costs when you employ e-signature technology in your company.
Simplified Human Resource Process
Suppose your company is among those organizations that need team members to accomplish various types of paperwork. In that case, you might probably know what challenges your Human Resource (HR) professionals face during those tasks. They are responsible for managing huge volumes of data which can hurt team members’ productivity.
For that reason, you need to take some steps to make HR processes more practical and convenient. And the good news is, you can employ e-signature within HR departments to ensure that signing documents are convenient and more manageable. Moreover, electronic signature technology is safe and secure. Your company can benefit immensely from e-signature by employing it in HR departments to enhance the relationships between institutions and workers. Furthermore, instead of performing manual hiring, e-signature can make the overall hiring process faster. This faster process enables HR professionals to save time by adequately archiving and managing documents electronically.
In addition, e-signature can also help the HR department regarding the efficient distribution of team members’ documents as this task can be challenging when HR professionals perform this manually. And lastly, e-signature can also empower HR managers to work from anywhere without creating an impact on the company’s workflow. They can get in touch with team members from anywhere and sign the relevant documents immediately without using scanners, printers, or faxes.
Conclusion
As an entrepreneur, keep in mind that the technological field is constantly and rapidly changing due to online work environments and economic turmoil. And your business can’t fully adopt digital transformation without using electronic signature technology. Although e-signatures don’t directly affect how you implement effective strategies in your business, the points above give you an insight into some of the key benefits of adopting e-signature technology in your company to make smart business moves.
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