In today’s dynamic economy, businesses are striving to optimize processes and cut costs in order to stay competitive.

Paper is an expensive and inefficient way to manage information, so many offices worldwide are transitioning from physical documents to electronic ones. However, documents that need signatures are still printed, even when they are created and sent digitally. This disrupts an efficient digital document process as documents are printed, signed, scanned, and returned via email.

More and more companies are starting to use electronic signature platforms like eversign, which enable them to speed up their operations by signing documents online legally and securely. According to the Electronic Signature & Records Association, when switching to e-signatures, businesses experience 86% savings in document handling costs, as well as an 83% performance improvement in getting approvals.

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Reasons Why Companies Switch to Electronic Signatures eversign

Here are the main benefits of using electronic signature software.

Security

With emails at an increasing risk of cybercrime attacks, e-signature software offers a safe alternative in managing contracts.

Electronic signature tools offer tamper evidence, independent verification, a detailed audit trail and strict adherence to legal standards. When a document is signed with an e-signature tool, the signature links a “fingerprint” of the document to the signer’s identity. That information is permanently embedded into the document and the document will show if someone tries to tamper with it after it has been signed.

There are other ways of signing documents digitally, such as uploading a scanned signature, but unlike e-signatures, these are not regulated and are not tamper-proof.

Increased efficiency

Companies that use electronic signatures have a much faster turnaround. Instead of sending a document, printing, signing, scanning, emailing it again and waiting for all parties to sign , everyone can sign it within seconds.

Using electronic signatures was also shown to reduce the incidence of human error, which can slow down the process or cause costly problems.

Lower costs

Electronic signatures are more cost-effective than the traditional pen and paper method because of the savings on paper, postage, mailing supplies, and most importantly, employee wages for the time spent handling paper documents.

Increased document traceability

Most e-signature platforms allow the sender to keep track of the documents sent for signature, by notifying them when the recipient opens the document and when they sign it. This way, the sender can take the next steps in the business transaction.

Automated workflows

Another advantage of using electronic signatures like eversign is the possibility of integrating the e-signature software with other apps, like CRM systems in order to create automated workflows which greatly improve productivity. For example, all new customers of a business can automatically receive prefilled contracts or, in an HR department, candidates who reach a certain stage in the interviewing process can automatically receive a document to sign.

Sustainability

Over ten liters of water is used to create a single A4 sheet of paper, so going paperless is the sustainable and ecological thing to do. Electronic signatures help save paper and trees and reduce the burden on the environment.

Now’s the time

This is the best time to get onboard the digital signature train. E-signatures have reached the point where they are common enough that no client will be put off by receiving a document to sign online, but one can still gain a competitive advantage against latecomers.

eversign offers a free e-signature basic plan which allows users to test most features of the software. Signing up is easy and only takes a couple of minutes.