The use of e signature software is growing at a rapid rate. E signatures are also gaining the interest of state legislatures and Congress, who have been looking at making it easier for enterprises to use e signatures and authenticate electronic documents. Here are how e signatures work and some key trends you should know about.
E signature software is secure
Digital documents are encrypted and the encryption key is private. In fact, the document can be used as legal evidence in court. This is because e signatures are legally binding concerning electronic data interchange (EDI). EDI allows for the automated exchange of business documents such as purchase orders, invoices, and shipment notices between trading partners over computer networks such as the internet or local area networks (LANs).
E signatures are also easy to use and help you reduce costs. With E signature technology, signing processes become simpler which leads to fewer duplicate signatures and less time spent on completing tasks manually. This helps in reducing costs while increasing productivity levels at the same time.
E signature software is flexible
E signature software is flexible. An e signature solution can be deployed on any device and by anyone. This means that you will have access to your digital signature library from anywhere, including mobile devices such as smartphones and tablets. With this type of flexibility in place, employees will be able to securely sign documents without having to go through the hassle of downloading apps or storing them locally on their devices.
In addition, because these solutions are cloud-based, you won’t have to worry about encountering problems related to storage space either. All you have to do is keep track of all your files via a secure online account once they are signed.
E signature software helps you reduce costs & increase revenue
E signature software can save your company a lot of time and money. This is because instead of having someone physically sign something, they can just digitally sign it with their signature captured electronically. This means that there are no longer any wasted trips or expensive postage fees involved in sending documents back and forth between employees or clients.
This also applies if an employee is authorized to sign off on something but doesn’t have access to the document while they’re traveling around the world. They can simply use an e signature app from anywhere at any time as long as they have an internet connection, even when traveling abroad.
E signatures are legally binding
There are many countries where E signatures are legally binding. In the US, UK, and Australia, for instance, e signatures can be used to sign contracts. The same is true in Canada, France, Germany, Italy, and Spain.
The use of e signatures can help in boosting productivity
The use of e signatures can help in boosting productivity. E signatures help to reduce the time required for processing a document and can help in speeding up the process.
Moreover, it allows you to sign a document on your laptop or phone and it will be sent back to you digitally signed by another party. An e signature is also used when signing an agreement between two parties with no need for the physical presence of both parties in one place.
With so many companies and services moving towards e signatures, this technology is here to stay. There is still room for improvement, but with the technology advancing rapidly, we can expect even more developments in years to come. You will have an advantage over your competition when you choose e signature software over a paper contract with a pen or a signature stamp. As such, it’s beneficial to get your business one step ahead of competitors by leveraging e signature software before they do the same.