Tech

Electronic Signature Solutions and The Importance for Business Operations

Electronic Signature Solutions

Technology enhancements have transformed how everything is accomplished, including business operations. Today, entrepreneurs have no choice but to keep up with new technology in order to stay up to date with changing trends. Gone are the days when acquiring signatures from external parties or multiple signers is complex. For starter companies, needing to print out documents, scan, and later post or upload hoping the recipient receives them on time, signs the contract, and send it back, quickly.

This process can be cumbersome and annoying, including missing signatures, late deliveries of critical documents, lost documents, time-consuming manual procedures of scanning and printing, plus sending documents out repeatedly. Now, tech-savvy business leaders are opting for a cloud-based electronic signature solution as a way of accelerating corporate transactions.

Many reliable eSignature solutions, such as SutiSign, can alleviate the pain of manual paper-based processes by empowering leaders to acquire signatures from multiple signatories effectively and quickly. Usually, embracing new technology is the only way an entrepreneur can stay competitive in a highly competitive business environment.

Top reasons why organizations must embrace eSignature technology today.

Cost-effective

Switching to an automated electronic signature system from traditional signing processes empowers organizations to spend less money on pen and paper, administrative staff salaries, file cabinets and servers, couriers, and postal services. There is no need to endure endless sleepless nights because of lost/misplaced documents, missing pages, or page-swapping.

Provides Full Control of Documents

Keeping your business contracts completely under control it is highly recommendable if they fall into the wrong hands. Unlike the manual paper signing procedure, electronically signed agreements are easier to monitor. Leveraging an online eSignature solution enables you to review all sent documents, who signed them and when, also who has not yet signed. The advantage of tracking your documents in the shortest time possible allows you to send reminders to all necessary recipients who have delayed signing the document.

Advanced Security

There is a good reason firms are shunning away from the manual process of signing agreements and are beginning to embrace a robust eSign software. Critical documents are confidential and must be kept secure at all times. Malicious hackers are constantly searching for loopholes in order to steal confidential data or documents for selfish gains. But, luckily, electronic signature solutions enable documents to be signed in a hassle-free manner including effective storage. Digital encryption and audit trails minimize the risk of the agreements being altered, destroyed, or intercepted by malicious schemers.

Improved Business Social Responsibility

Modern businesses are needed by law to adhere to the set of global environmental impact standards. Leveraging eSignature solutions shows that your organization cares about the environment via awareness. By going paperless, you can show other firms you are not afraid to bring a positive effect on the environment.

Manages Times Effectively

Time is considered the biggest asset in business. Organizations who are not embracing this new technology can waste their respective time managing, storing, and signing documents. The ineffectiveness involved with the traditional paper-based signing process can be overwhelming for organizations. On the other side eSignature systems can lead to better time management skills for entire departments as documents are prepared and signed promptly.

Various eSignature solutions play a pivotal role in offering mobile signing options for your clients. Business experts are now easily able to acquire multiple signatures from their clients among any other third parties. Additionally, they can leverage smart devices to request signatures and even have them validated immediately. Electronic signatures save productive hours unlike, old manual ways of getting documents signed.

Officially Defensible

With schemers and hackers, it is always critical to make sure the authenticity of business contracts is never compromised. Electronic signatures involve the employment of robust security measures with biometric signature capturing software backed with additional top-notch encryption techniques to ensure the authenticity of a signer.

Moreover, the signatories and relevant governing bodies like UETA and eSign Act are needed for the legitimacy of electronic signatures before being used under the United States laws. Such agreements signify the electronic signature is not only valid but is also legally binding and defensible in court when compared with the manual paper-based signatures.

Timestamp and Auditing

Rather than being non-repudiation, electronic signature software requires time stamping in order to track of when each document is signed. It aids in preventing a false submission of electronic contracts by the imposters. This type of solution aids in improving record-keeping practices like auditing of all contracts.

Excellent Client Services

Are you willing to offer 100% customer satisfaction. If so, electronic signatures will save you time and convenience, thus making it possible for firms to serve their clients more effectively. Offering enhanced personalized services makes it easy for clients to engage with your business more quickly.

How eSignature Solutions Work

In this rapidly changing business environment, eSignatures have developed a means of meeting the needs for a safe and quicker authentication process that cannot be forged. Electronic signatures are being utilized as accepted means of collecting signatures, which are also legally binding in several countries.

eSignature solutions allow you to sign all types of contracts and documents. For example, complex mortgage paperwork to simple documents for approval by leveraging various mobile devices. This software provides various authentication methods as well as security protocols so each users can access critical documents easily.

In order to secure business transactions, fingerprint authentications help identify a signer by leveraging an intelligent fingerprint validation process. This feature aids organizations in providing a higher-level of security for critical business data. It also facilitates various business methods and prevents tampering with of any documents, plus offers extra verification advantages.

The user’s fingerprint is not stored in the solution. Minutiae points are extracted from a fingerprint and are stored on the server for purely authentication purposes only. Such points can be extracted from the fingerprint image, this image cannot be copied by using minutiae points. This eliminates the threat of fingerprint images being misplaced, stolen, or misused.

Guide for Selecting the Best eSign Solution

User Experience

Today, organizations can perform their business from anywhere and from any smart device. Whether you require your CFO to approve a proposal while you are on vacation or trying to get a candidate to accept the job offer quickly. Always requiring an electronic signature software solution that works everywhere to keep business operations flowing.

What is the mobile experience like for the signers? Checking a PDF document on a smart device can be annoying. All that zooming, pinching, and scrolling can make someone give up on signing. Does the eSignature tool provide a mobile-friendly signing experience?

Contracts which are easier to see, read, and sign on any mobile device are completed quickly with less delays with higher completion rates while also providing a smoother user experience.

Privacy

Is the privacy of the client data always a high priority? As new technologies increase in usage the amount of personal information will as well. With that the importance of protecting the business and personal customer details entrusted to the eSignature service enhances too. You must verify if the provider you choose is committed to GDPR compliance and what other data protection practices does that vendor employ?

Compliance

You must look for an electronic signature supplier which offers constant tracking of the privacy and security landscape to make sure the contracts comply with the new federal, state, and international needs.

A few questions to always ask:

  1. What worldwide recognized certificates do they follow?
  2. Do they have dedicated teams of subject matter experts across information security, privacy, internal audits, vendor risks, and compliance?
  3. What contractual documents will exist for assurance of data security and privacy?

Scalability

Is the electronic signature platform scalable enough to meet the requirements of the business now and in the long run. Allowing constant modernization of the way your business functions?

You might be considering eSignature solutions for a single team. But it is helpful to think about the possible future uses of an electronic signature solution as you will need to select a tool which will work for all departments.

Some business procedures to consider:

  1. Sales contracts
  2. Preparing electronic contracts for signatures
  3. Staff onboarding documents
  4. Legal team contract storage and retrieval
  5. Procurement documents for goods/services

Company Branding

Your brand will make you look more competent in the eye of your client. Why not let this fact shine more by leveraging your selected eSignature solution to its full potential?

Search for a software which enables you to customize the contract workflow including your logo. Placing the business identity from the customer’s eye is an essential step in offering a consistent brand experience, coupled with a frictionless viewing and signing experience.

Businesses are now opting for a SaaS-based electronic signature solution as they provide secure document delivery storage, flexibility, and control for the end-users. Business leaders strongly believe in technology and the desire to select the right system to handle digital transactions and accelerate the business proceedings. As there are multiple eSign options available in the marketplace, it is simple for organizations to select the right one. But before choosing one, make sure that the solution allows your employees to sign a critical document digitally within a highly secured environment.

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