E-signatures have provided a tremendous boost for businesses both big and small in recent years, giving them the ability to execute global transactions more easily than ever before. The enactment of the ESIGN Act has further increased the popularity of e-signatures in recent years, but why should you use e-signatures and e-contracts in your business? The following highlights a few of the benefits.
What E-Signature Software Is About
E-signature software is a type of software used to apply digital signatures to electronic documents. E-signatures come in a variety of forms, and can be as simple as a sound or picture that verifies the identity of the signing party. E-signature are usually encrypted and are designed to be tamper-proof to provide more security to the signer’s authentication. Some software providers allow for multiple signers, which can be very helpful when the party involved has multiple parties handling a transaction. After a document a document is created and sent out, the software allows the parties involved to easily monitor the status of the transaction.
How E-Signatures Help Make Transactions Smoother
Millions of businesses have implemented e-signatures and e-transactions in recent years for a variety of reasons. One reason is the increased speed of electronic transactions. E-signatures and e-contracts allow transactions to be executed in minutes, even if the parties involved are on opposite sides of the globe. This is obviously preferable to conventional paper transactions where it can take days, or even weeks or months for a contract to reach a signer, and even more time for the signed contract to return to the sender.
Electronic transactions are usually saved on a cloud-based system, making the documents more accessible. Cloud storage makes record-keeping and file access much easier. Electronic transactions also eliminate the need for paper, which helps the environment, allows for a more organized office environment, and cuts costs. The increased security and verifiable proof of authentication associated with electronic signatures also help businesses attract new customers, and the inherent convenience of electronic transactions helps to further attract consumers.
E-signatures and e-contracts can be a helpful addition to any business looking to expand its market, go paperless, or simplify record-keeping. If you have been looking to increase your own business’s efficiency, electronic signatures are for you.
Mr. Moore is an expert in online technologies, including web applications, cloud computing, and electronic signature. His articles on innovative products and new technology including those on digital signature have been published on leading online sites.