5 Ways Using A Digital Signature Online Can Improve Your Business
Using a digital signature online can make electronic documents legally binding and valid as if it is signed with an actual pen on an actual document. But first of all, you may be wondering what is digital signature and how it works.
Not all digital signatures are the same! In a nutshell, a digitised signature is basically an electronic version of a physical, handwritten signature, sure it looks like a signature, but it is not the same as a digital signature. Sure the signatures may look the same, but the difference is that online digital signatures are uniquely coded and specific to its signer. Electronic signatures are protected in layers of security and authentication protocols to prevent tampering and frauded and are extremely secure.
Digital signature technology has been around for decades. But it is the emergence and the subsequent rapid adoption bought forward by covid 19 has given rise to the need for a secure and easy to use online digital signature provider.
Here are 5 ways using a digital signature online can impact your business for the better.
1. Accelerates Turnaround Time
There are tasks and processes that require signatures from specific parties, like contracts, reports, and approvals, to mention a few. In a traditional setting, the turnaround time for these tasks can take hours, if not days. Delivering documents for signature from one office to another can take a while, especially if the signer is not around to receive and sign the document.
When using an online digital signature, the whole process can be completed in minutes. How to get digital signature from signers, you ask? The good news is that this is not a complicated task. Signers can sign online documents anytime and anywhere without worrying about security and other risks.
2. Improve Productivity and Efficiency
A solid digital signature online tool eliminates the need to print, scan, and post documents. Waiting for documents to be delivered and signed is a thing of the past as well. As signature-based processes are streamlined and accelerated, you have more time to spend on more pressing priorities.
Repetitive tasks can be automated. Your document flow is tailored and optimised to suit your business processes. If you have documents that you use a lot, you can simply go inside the system and create/edit templates as required.
3. Decrease Operational Costs
While investing in a digital signature solution entails a cost, your company will enjoy huge savings in the long run. Incorporating digital signature online into your document management processes cuts down the expenses that come from purchasing paper supplies, printing and postage to name a few.
As PleaseSign stores your company’s files on their secure Australian based servers and accessed through your desktop and mobile devices, the need for folders and storage cabinets is significantly diminished. You don’t only save on these fixtures but you also give your office more space that you can use for other purposes.
4. Secure Flow of Documents
Paper-based documents that are slated for signature are exposed to a variety of risks, including damage to elements, moisture, or even fire. Mismanagement and misplacement of documents can lead to its loss, which can result in the delay of processes and potentially the loss of business or harsh penalties.
Then, there is the probability of documents returned to you only to find a few signatures missing. With a digital signature online platform, all these concerns are eliminated from the picture.
A digital signature online platform also puts you in total control over your document flow. The audit trail and status bar track the progress of your sent document. Once sent the document cant be changed this functionality prevents tampering and other unauthorised modifications. All of your documents are safe and secure.
E-signature functionality is designed to improve user experience, enabling clients to sign documents within quickly and securely.
5. Increase Security
Leveraging digital signature systems in conjunction with document management platforms eliminate the risk of alterations and duplication of your documents. Once sent your signatures are protected in layers of encryption plus a tamper-evident seal.
The software tracks the progress of your sent documents. Signers can be given passwords, PINs, and codes for authentication and verification. These features adds another layer of security and peace of mind when sending sensitive documents for digital signatures online.
Don’t forget to Check For Legality when using Digital Signature Online
Digital signature online software is functional and efficient. Thus, its usage is projected to be on a steady rise in the years to come. Recent research on digital signature software by Valuates Reports, indicates the industry is expected to grow to US$3818 M by 2029 triple the current level.
But with all the advantages that an online digital signature brings to any business, it is important to note that certain countries in the world have not yet adopted its use.
Digital signatures are valid in most countries in the world, including the United States, Canada, European Union, China, India, Russia, and Australia, to mention some. It may be legal in where you are based but not so in the country where you want to do business. It is advisable that you verify first a country’s laws on electronically signed documents and gain a better understanding prior to entering into any business transaction with any entity from that country.