Today, digital technology has made people’s life simple, fast, profitable, and easier. We live in a changing world where customers are switching into digital customers, preferring online services anytime, anywhere.
“As per Google survey, there is 83 percent of people who don’t leave their home without their smartphones.”
With the increasing use of computerized electronic ways, e-sign documents, and other types of transactions is becoming vital. These kinds of software are more useful in security, use, verification, money, and timesaving. However, it isn’t easy to fake e-signatures as this method uses cryptographic technology to link the identity of the signing user to the document.
What is the Electronic Signature?
An electronic signature is commonly known as “e-sign” or “digital signature.” It is the process of putting encrypted information on an electronic document and enforcing it legally. It allows the user to sign documents online, i.e., digitally. In other words, it is a symbol or other data in the digital form attached to a document transmitted electronically to verify the sender’s intention to sign the document.
It is very easy to create an electronic signature, and once created, it can be added to any document, even with other annotations like free form text and checkmarks.
There are two different types of electronic signatures, i.e., Dependent electronic signatures and Independent electronic signatures. Both types are lawfully accepted forms of electronic signatures, but the technology behind them is dissimilar.
However, the electronic signature has many advantages; here are some of them:
#1. Save Time and Money
E-sign documents reduce the manual steps concerned in sign-contract. Customers can rely on the electronic signature to fulfill contracts in the blink of an eye. They don’t have to wait for printed materials to travel across the country or worldwide. Everything is done instantly on a computer or mobile device.
The method eliminates manual steps and saves a lot of money and time for customers and dealers. However, with electronic signature technology, you can reduce the overall costs, such as paper, ink, mail, shipping, postage, printing, or extra mileage to deliver documents.
#2. Environmentally Friendly
Only saving your time, money, office space, and document security are not enough and pays attention to environmental protection. However, the electronic signature offers the opportunity to go with a new paperless process that considerably reduces paper consumption and its carbon footprint.
#3. Convenience and Simple to Use
Electronic signatures greatly simplify the process without any delay period of days and weeks. E-sign documents can be received, sent, and signed anytime, anywhere. Plus, with an electronic signature solution implemented into your operational workflow, all you need is an internet connection and access to a computer, laptop, or mobile device.
In fact, in face-to-face interactions, clients find it difficult to read the stacks of paper thoroughly and rarely read what they sign because they feel pressured to complete the signing process.
However, with this advanced technology, you can make your customers feel better and informed about documents and processes. Plus, dealers can make urgent deals on the spot without requiring customers to engage in extensive paper-based processes that risk slowing or even losing a sale.
#4. High-Security Solution
Digital signatures or e-sign are a more secure and safe method than the traditional signing process. An encrypted public key locks it, the digital signature classifies and validates the document, and the signer gets enhanced docs. Once an individual is identified and confirmed its intention to sign, an electronic certificate is issued, making the document valid forever.
#5. Track Status
Now you no longer have to worry about whether your customer has received your fax and when they will sign the contract. Electronic signature software solutions offer an online dashboard that helps you easily track the status of your documents. Various platforms also have a notification facility, which sends emails to signers as a reminder if they don’t sign the document at the specified time.
How Does it Work?
In this digital world, where the electronic signature has become a need of the hour, individuals and businesses need to opt for electronic signatures. If you want to learn how electronic signature works, first, you must know that there are many electronic signature software available online, and all have different processing methods.
So, here we have discussed basic steps on how it can work.
- Access: An email invitation or a link is send to a customer to access the document in the electronic signatures solution.
- Authenticate: If you want to open/review the document, challenge-response questions, third party identification services, or SMS password is sent.
- Data capture: Now, you have to capture data when signing and make that data available to downstream systems.
- Inserting documents: You can add documents or images (e.g., a photo of a driver’s license) as part of the transaction.
- Sign: Now click to “sign” or click to “initialize” (depending on your software) and handwritten signature capture.
- Deliver: You can distribute your signed documents electronically or on paper.
However, flexible options ensure an optimal signing experience across all channels and, ultimately, better adoption by employees, representatives, and customers. It is important to move forward with the advancement of modern technology. So, to reap the benefits of electronic signature, use it now!
Electronic signatures can help any small or large organization move faster, improve performance, and improve the experience for all third-parties involved.
With the right electronic signature software, all you have to do is create a pattern, drag and drop option, and add signature in word. Because they are easy to complete, the response is instantaneous, giving customers a superior experience and more productivity to your business.
Now that you know the benefits and how electronic signature software works, choose an application that suits your needs. You can also try free trials of available software online to learn more about their features and suitability and select a trustworthy and protected solution that can benefit you and your customers.