August 17, 2020 Modernizing Industries: Why E-Signatures Work Better

A look at what makes the electronic approach to document signing so desirable.

A whole variety of industries can benefit from the implementation of e-signatures in place of traditional pen-and-ink alternatives inscribed on physical documents.

Of course unless you have actually experienced these advantages at first hand, you may not appreciate why making this change is so significant. Here is a look at what makes the electronic approach to document signing so desirable.

Efficiency can be improved

The primary perk offered by eSignature software is that it can augment and enhance efficiency in a number of areas.

Creating, issuing, organizing and sending out paper documents is a huge time sink, as well as generating a whole host of associated costs which will stack up each year in any commercial operation.

Conversely, electronic documents that can be signed by multiple parties, sent via email or transferred securely via the cloud, and ultimately do not need to be turned into a physical copy at any point will be both vastly more affordable and intrinsically more efficient.

From financial services firms and insurers to engineering organizations, construction operators and manufacturers, the same benefits apply. Even with the growth of the paper industry, demand for physical documentation is falling and it is easy to see why in this context.

Security can be boosted

Paper documents are threatened by all sorts of security issues whenever they are used, whether as a result of deliberate interference, human error or pure bad luck.

Thankfully the use of e-signatures and digital documents once again allows all industries to rise above the limitations of the past and overcome them almost entirely seamlessly.

Documents can be encrypted to avoid outside tampering, so that only the relevant signatories have access to them. Furthermore you can make sure that all of the parties have signed in a timely fashion, rather than finding out too late that some key signature is missing in action.

For heavy industries where the working environment is necessarily more hazardous, digital signatures and documentation are also far more resilient than their physical counterparts. They can be stored remotely at data centers that are not at risk from machinery or any other on-site disasters which might befall them.

Customer satisfaction can be increased

Happy clients are more likely to be loyal in the long term, and making the switch to e-signatures can be one strategy for boosting satisfaction levels.

Efficiency is once again the name of the game, as being able to send important documents to be signed electronically will be far more convenient and quick for all involved. A client can fire off their John Hancock from their smartphone or computer, from anywhere in the world, greasing the wheels of some of the biggest deals around.

Sustainability can be enhanced

All industries are aiming to improve sustainability at the moment, not just to meet their own internal goals for reducing environmental impact or to appease regulators, but also to meet the expectations of eco-conscious customers everywhere.

E-signatures can further efforts for a paper-free approach to doing business, ticking all the boxes in terms of sustainable operation. So while there may be some initial challenges to overcome when adopting this approach, the long term benefits make this easy to justify.

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