Are you looking for ways to make your document management more efficient? Do you want to save time when signing piles upon piles of documents? Then you need to start exploring the prospects of using a signature tool.
Signature tools refer to data that come in electronic form. Since they are electronic, the signatory can use it to create electronic signatures. This means there is no need for any paper and pen to write the signature.
But is that only the key offering of a signature tool? What other ways can a signature tool improve your remote work and make it easier?
Let’s take a look at some of the key benefits your business can enjoy from a signature tool.
Table of Contents
1. Quicker Execution of Contracts
One of the biggest advantages of using a signature tool is it helps streamline your contract execution. This is crucial, especially when dealing with time-sensitive contracts.
For example, you may be in the middle of closing a big deal. This deal requires your urgent signature. However, you are unavailable to physically sign the documents.
But with a signature tool, you can sign the documents online. You can seal the deal regardless of your location.
Another scenario where electronic signatures work is in the medical field. Healthcare professionals may need to sign contracts that affect patient care. Instead of going through all the physical paperwork, a signature tool gives doctors the power to sign contracts and documents and prevent any delays.
The good thing about electronic signatures is they are easy to understand and use. To kick things off, all you need is to go online and generate your signature for free.
2. Reduce Your Transaction Costs
Aside from saving a lot of time, a signature tool can also help you save resources. Since the process is all electronic, it can help reduce your spending on paper. It also cuts your expenses on printer ink.
Imagine having to sign over a hundred different documents. Each of these documents contains two to three pages. Imagine all the paper and ink you need to procure in preparing those documents.
With a signature tool, you don’t need to print those documents for you to place your signature at the bottom. Download the documents, open them in your computer, and affix your electronic signature.
Since it reduces your need to print physical documents, you will also save a lot of office space. You don’t need to worry much about the storage of physical documents.
Moreover, you will save a lot on your company’s mailing supplies and postage costs. After affixing your signature, you can email back the document to the other party to close the deal.
3. Offers Legal Value
A common concern about electronic signatures is the latter’s validity. Does your e-signature offer any legal value? The answer is a resounding “yes!”
According to the U.S. Electronic Signatures in Global and National Commerce Act (E-SIGN) act of 2000, electronic signatures are legally binding. Today, you will see various government offices embracing electronic signatures.
However, there are three elements that make your electronic signature legally binding. Miss any of these three elements and your signature loses its legal value.
The first key element is the person who signed the electronic document. This means the signatory’s identity must be verifiable for the signature to be valid. Thankfully, there are many ways to verify the signatory’s identity.
You can use email, SMS, and electronic ID to verify.
The second element is the purpose and intent of the electronic document. What does the document contain? What is the main intent of the parties concerning the document?
If the contract requires signatures of more than one person, it will only be binding if everyone sends in their e-signatures. Furthermore, if changes happen to the contract before the signing, the new wording will become a new contract offer.
Last but not least, the integrity of the document will also attest to its legal validity. After signing the document, you or any other party should not tamper it. This means you cannot add, deduct, or replace anything within the contract.
4. Topnotch Security
Another important benefit of using a signature tool is the high-level of security it offers. For starters, electronic signatures are harder to tamper compared to physical signatures.
Some of the best contract management software comes with safety nets that ensure the safety and integrity of the electronic documents. They come with features that automatically detect any alterations in the document and the signature.
If there are attempts to break the security system, the software will notify you. Furthermore, the electronic signature tool can trace the information of anyone who signs the document.
It keeps tab of when the signatory signed the document and where he signed it.
Additionally, electronic signatures can also lessen the financial impact of human error.
5. Improve Customer Experience
If your business requires your clients to sign certain documents, an electronic signature tool will come in handy. Electronic signatures make signing documents a breeze for your customers.
It saves them a lot of time and protects them from the risk of lawsuits and fines that may arise from tampering. Furthermore, they don’t need to go to your office to sign the documents. All they need is their laptop or mobile device and internet connection.
6. Boosts Your Company’s Eco Credentials
Last but not least, electronic signature tools can help increase your company’s eco-credentials. Through electronic signing software, you reduce your consumption of paper.
In turn, you send your clients the message that your business is environment-friendly. This will reflect positively on your brand and reputation.
Complement Your Electronic Signature Tool
By using an online signature tool, you can streamline your document management requirements. You can accomplish more things and save more time and resources. But are more remote work tools that can help turn your business processes into a more efficient one.
Check out our other articles and learn more about other business solutions. We feature business software that will help increase your productivity and bottom line.