The dawn of new technologies and the internet allow business owners, managers, and workers to share documents remotely. However, some documents need signatures for approval or validity. This led to the introduction of electronic signatures.
As the name suggests, an electronic signature is a legally recognized practice of signing documents electronically or online. Here, an individual gives consent to sign his name for any digital document without the need for physical appearance.
Electronic signatures can take various forms. These include typing out your name, drawing a signature on a document, or uploading an image when you sign documents online.
This article walks you through the benefits of electronic signatures and why you should use them to grow your business. Read on to find out more.
Why Implement Electronic Signature In Your Business?
An electronic signature is a way to grow your company faster. The benefits of this technology include the following.
- It Is A Cost-Effective Solution
Increased costs constitute a significant barrier to the success of any business organization as these can minimize a firm’s profitability. That’s why business owners find ways to keep costs to the lowest desired level.
One of the most effective strategies to reduce your company’s costs is to have documents signed online. Note that with outdated technologies, you’ll have to print documents to allow signing. You’ll also need to rent a bigger space to store documents. These lead to more costs, especially when you deal with several documents at a time.
Installing an electronic signature tool in your business system eliminates the need to print documents. This helps reduce your overall business costs.
- It Saves Time
Time is a precious resource for your business. Thus, you must ensure you’re managing and utilizing it well. That’s where an electronic signature comes in.
Receiving documents signed the traditional way may take days or even weeks. Besides, signing physical documents can take much of your time. You need to scan and print before putting your signature on documents. This can affect your firm’s growth, especially when dealing with documents that require urgent action.
With an electronic signature, you only need an internet connection to attach a signature to your documents. Likewise, you won’t have to wait too long to receive documents, saving you time.
- It Provides Convenience And Flexibility
Electronic signatures also help provide convenience and flexibility. As mentioned earlier, physical documents require using a printer. Hence, you need to be within the business premises in most cases.
An electronic signature allows you to authorize documents online. You can do that from anywhere you are and at any given time. This can be done from your home, at a restaurant, at a campsite, or on the beach. The list is endless. Signing documents has never been this easy and to your advantage. So, now you have extra time to attend to other pressing matters.
- It Enhances Documents’ Security
Whether large or small, security is essential to the growth of any business enterprise. Hackers can access your data with poor document management controls. This can result in a tarnished reputation or even the collapse of your business in a worst-case scenario.
Signed physical documents are prone to theft. This happens when important documents are left for several hours in an open place, waiting for the right person to come and sign them. During that time, other people may come near and get a glimpse of the documents or, worse, steal them altogether. They can, later on, use that data to their advantage or share these with your business competitors. For that reason, you may consider going for an electronic signature.
As noted previously, you won’t have to deal with physical documents with an electronic signature. You can sign documents online and send them to the intended recipients over the internet. Therefore, no unauthorized person will get access to your private business files. This ensures the security of your documents.
- It Helps Save The Environment
Using electronic signatures for your business helps save the environment. You can start by reducing paperwork by using online documentation.
Printing documents requires papers, leading to more need to cut down trees. You can help save millions of trees in a year by using electronic signatures. Moreover, paper manufacturing emits toxic gases, like carbon dioxide, nitrogen dioxide, and sulfur dioxide, that contribute to air pollution.
Using electronic signatures is one of the best strategies to grow your business. As discussed in this article, there are several benefits to using an electronic signature. Take your firm a notch higher by implementing this technology.