Digital signing, versus the traditional “ink” signature, has become popular in recent years. More and more countries across the globe have endorsed the legal validity of digital signing, enabling businesses to digitize entire workflows and further optimize management processes.
Whether you’re preparing an employee work agreement, finalizing a new client contract, or submitting an invoice, digital signing can prove beneficial in several ways.
Here are just three reasons businesses choose digital signing over paper.
1. Save time and courier costs
Ensuring all parties sign off on paper documents entails several time-consuming and expensive steps.
First, you must prepare the document, courier it to each recipient, and then wait for them to receive, review, and sign it. One of your recipients may be out of town or home with the flu, which further lengthens your wait time. After review, a recipient may request some changes, which means re-working and re-delivering the document. The resulting delays can be both costly and frustrating.
With digital signing, you can deliver revised and authenticated documents online without involving the post office or couriers. Business owners can direct their energies toward earning new customers, rather than handling more paperwork. And of course, adopting a paperless solution reduces your environmental impact, which is an important benefit for entrepreneurs seeking more sustainable business practices. Not to mention, it lowers your office supply costs.
2. Safeguard your documents with digital encryption
Besides improved efficiency, digital signing is more secure than paper. The digital signing software you use to create the signature will encrypt it, which protects your entire document from tampering.
Digital signature encryption will let you know of any changes or deletions in your document. Plus, since encryption leaves a data trail, it’s possible to trace and expose any forgeries. If a signee denies having authenticated your document, you can analyze the signature to confirm its origin.
3. Track the status of your document in real time
Wondering whether your new client has opened, reviewed, or signed the contract you sent? Digital signing gives you the answers far easier than the paper alternative.
Digitizing the entire document life-cycle creates transparency – from creation and distribution, to editing, validation, and storage. Using cloud-based digital signing, business owners can track the status of their documents in real time, including:
- when the client opened the document;
- how close the signee is to completing their validation of the document; and
- the moment the validation is complete, or if a party opts out of the process.
Some service providers also include options to send out automatic reminders to ensure the timely completion of your agreements.
From saving time, money, and trees, to improving collaboration with team members and clients, it’s no wonder digital signing is fast becoming the new business normal.
