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5 Reasons Why Your Business Needs an Electronic Signature

Posted 18th June 2021

Is your business still using pen and paper to collect signatures? If so, your company could soon find itself held back by outdated and inefficient processes that slow down progress and limit your potential. As the way we work moves increasingly online, why shouldn’t your signature?

 

Many businesses end up scanning paper documents to make electronic copies to either email or store, so why not cut out the middleman and keep everything digital? Switching to an electronic signature allows you to do just that, enabling you and your employees to create an efficient workflow with digital documents at the very centre.

Yet many businesses are still reluctant to make the switch. If that’s you, here’s 5 reasons why your business needs an e-signature today.

 

1. Improved Workflow Efficiency

For many businesses, continuously improving workflow efficiency is vital to increasing productivity and profitability. As the old saying goes ‘time is money’ and you want to ensure that every minute is being used as efficiently as possible, rather than being spent on outdated ways of working.

Indeed, switching between paper-based processes and digital working is a prime example of a disjointed and inefficient workflow. You create a document digitally, only to print it out for signing. Once it’s signed by all parties, you may even scan the document to make it digital again. Whilst it may seem like a small issue to highlight, your business could actually be losing vital productivity on these unnecessary steps, not to mention incurring costs on paper, printing, and scanning.

With a digital signature in your arsenal, your business has the technology it needs to embrace digital document processes, helping you eliminate unnecessary ‘analogue’ steps that slow down your operations and impede productivity. Instead, you can easily create, send, and sign your vital business documents in just a few clicks, saving you time and effort that can be spent on other areas of your business.

 

2. Keep Up With Competitors

As we increasingly move away from paper-based processes, there will come a point when embracing digitalisation becomes a matter of keeping up with your competition. With the modern business landscape moving increasingly online, make sure your business stays ahead of the game with an e-signature. When technology develops so quickly, modern businesses need to evolve to survive; companies still relying on pen and paper are bound to get left behind. If you’re looking to develop your business strategy to a more productive, secure process, then electronic signatures are a good place to start.

As remote working becomes a staple of modern working life, businesses need to stay flexible and agile. Digitalising your processes helps you to increase efficiency and productivity, especially when working from home. When COVID-19 hit, businesses with digitalised processes were able to transition to home working a lot more smoothly than those still reliant on paper-based admin; continuing this trend will only help future-proof your business further.

 

3. Don’t Worry, It’s Legally Binding

When considering switching to electronic signatures, most businesses have questions about the legality and security of this modern technology. Rest assured, we’re here to assure you that your electronic signature solution is 100% legally binding and secure.

Just like a handwritten, or ‘wet’ signature, an electronic signature is a digital indication of a person’s intent to agree to the content of a document or a set of data to which the signature relates.  Electronic signatures are a lot more than just a computerised version of your handwritten signature. They use data encryption and mathematical algorithms for verification, whilst tracking the signer’s IP address and providing a time and date stamp for an audit trail.

Electronic signature transactions are a recognised and legally binding method for nearly all business and personal document transactions within the UK and around the world, so you can have peace of mind that your new and improved signature does exactly the same job as the old one.

 

4. Waste Less, Go Green

Perhaps one of the major disadvantages of traditional signatures is their overwhelming reliance on paper. Whilst paper has long been the MVP of the business world, the increasingly digital corporate landscape is now enabling businesses to move away from paper-based processes and towards digital documents. Whether you’re dealing with daily administration, making deals with clients or supplying collateral to customers, anything that can be done on paper can be done digitally, with the help of an electronic signature.

Eliminating paper usage across your business not only allows you to reduce your business expenses but also lessen your carbon footprint and company waste. Paper production contributes to deforestation, pollution, and greenhouse gas emissions; all of which, of course, are bad for the environment and planet. If your business is looking for greener ways of working, a digital signature should definitely be on your shopping list. Our digital signature helped a well-known law firm save 1.4 million sheets of paper over a 12-month period, equating to around 17 trees and 7,787 Kg CO2.

 

 5. Improved Customer Experience 

Digital documents and electronic signatures not only help your employees and business achieve new levels of productivity but also enable you to impress customers and clients with your operational efficiency. For many digitally mature customers, paper-based processes are just a hassle; having to print, sign and either scan or post documents is a time-consuming process- and that’s if they have access to a printer or scanner. Keeping everything digital ultimately makes life easier for your clients, allowing them to view, e-sign and return your company documents simply by clicking on an email and typing out their signature.

With digital processes on your side, your business immediately becomes more agile and responsive to customer requests, as well as benefiting from quicker turnaround times on both ends. With the ability to save templates on your E-Sign platform, you can easily re-use and edit existing content, drastically reducing document creation time. Your client can then sign and return your documents in just a few clicks so you can close the transaction as soon as possible.

Making sure your processes are accessible and hassle-free for customers is absolutely essential for your business; after all, you want to leave your customers with the best possible impression, ensuring they return to you in the future, as well as recommend you to their friends and family.

 

Ready to start benefiting from an e-signature? Why not make the switch with E-Sign. Try our 14-day free trial today to experience the awesome power of going digital for yourself.

 

E-Sign is a leading provider of digital transaction management solutions, supplying professional services including Electronic Signatures, Web Forms, ID Checker, Verification Tools, Personalised Emails, API and Payment Processing to businesses of all sizes across the UK.

To find out more about our E-Sign solutions and how they could transform your business, get in touch with us today.