E-Signatures: 5 Benefits that are Revolutionising Businesses across Industries

Keeping in account security and efficiency as the topmost priorities of the businesses; the business owners have started making the use of electronic signature or e-signatures differently and rigorously.

The ease of using the Electronic Signature is not only the reason for its popularity the industry’s wide use of it is making rounds. It has now become an integral part of Education, Accounting, Finance, HR, and Non-profit organisations.

But How did It Happen?

The conventional method of signing the paper did not fade away overnight. The conventional method was time-consuming and was always susceptible to errors and security lapses that caused time and money losses to businesses.

However, E-signature platforms like Konsign marking its foot in the industries has changed everything. E-signatures are enabled with SSL Encryption and AWS, which means the documents are safe and can be easily signed. The decrease in the troublesome task of handling the documents has been eradicated.

Increased Security Protocols

With the strong foundations of SSL Encryption and AWS integration, the E-signature system now guarantees data security, integrity and safety against misuse of the documents. The security system provides the documents against the previously existing intercepting and tampering issues.

For example, in the easy to prone industry, the Healthcare industry has taken a sigh of relief after introducing E-signature as the sensitive information regarding the disease, or the portability or access to the Health Insurance has been reduced to rubble or in simple words negligible.

The major changes observed in the healthcare industry’s administrative procedures are because of the use of E-signature that allows for safe handling the medical forms, reports, data and even insurance papers.

Moreover, apart from the safety, the speed, that was paralysed due to manual handling and processing has taken the fastest lap that helps to maintain confidentiality, save the documents from breaches and process the insurance in no time.

Improved Client Relations

Along with offering convenience, E-signature has tremendously improved the customer experience because of close to no turn-around time and the geographical boundaries have been diminished.

These eradications have majorly influenced the Education industry where paper handling and management are crucial and needed in bulk; for example, the academic agreements, acceptance applications, and other related records.

Using E-signature has not been a relief to the students carrying a bunch of papers or the administrative personnel juggling through the piles of files the entire day. The in-person presence, long travels and laborious paperwork have just faded away and now the administrative staff in the education bodies can focus on other development areas.

Overall satisfaction levels have increased as a result of the smooth incorporation of e-signatures into educational operations. The accelerated processes are advantageous to both staff and students, resulting in a more effective and pleasant learning environment. E-signatures also open up new avenues for communication, allowing academic institutions to concentrate on providing high-quality instruction while guaranteeing the seamless functioning of administrative processes.

The fact that e-signatures are being used by various industries shows how revolutionary they are just for increasing efficiency but also for improving security and providing great user experiences.

Operational Efficiency

Suppliers and clients can approve requests more quickly when electronic signatures are used. It does away with the needless postal exchange of hard copy papers between parties that comes with using handwritten signatures. Cross-platform mobility is also facilitated by electronic signatures.

Completing agreements electronically eliminates the need to print, sign by hand, scan, and deliver papers to the appropriate parties because the majority of commercial contracts are created online.

Faster document inspection, signing, approval, and archiving are made possible via virtual agreement execution. This is a big benefit since it allows commercial transactions to continue even in the case of a worldwide pandemic, despite travel limitations.

Workers and clients may swiftly sign at any time, from anywhere in the globe. Moreover, electronic signatures ensure that all relevant areas have been completed before the agreement is concluded. This eliminates the potential that a human error led to some pages of an agreement being signed or not being signed, which speeds up the onboarding process.

The Economic Advantages of Electronic Signatures

The following are three main reasons why using an electronic signature significantly reduces your costs:

Minimize the Amount of Money You Spend on Staff and Paper:

To begin with, it helps save unnecessary costs associated with handling, printing, and paper. The money you would have previously spent on buying reams of paper and maintaining a fleet of printers and scanners might be greatly reduced.

Using electronic signatures can reduce the number of employees required for standard office tasks including printing, signing, scanning, emailing, tracking, distributing, and archiving business documents.

Reduce Your Archiving and Storage Expenses:

Second, you may save money by not having to pay extra for the secure storage of physical records because everything is preserved electronically.

Businesses need to make sure that the right security measures are in place to prevent any unauthorized access, collection, use, copying, disclosure, modification, disposal, or actions leading to similar threats.

Every Minute Spend is Money Spent:

Businesses have been spending heftily on managing documents, getting them signed, and their prone-to-error efforts. However, this seems a talk of the past as E-signature has reduced the turn-around time to almost a click of the fingers, which saves money and time.

And it is not only saved by the reduction of the document signing work, but also, because of the productive hours the manpower gets. The time saved could be utilised in carrying out more business and add on the revenue.

Expanding Businesses & Flexibility

With more time to invest in planning and the reduction of geographical boundaries, the companies can now focus on growing and increasing revenue.

For example, while setting up your business in a new place, a lot of your efforts are reduced as E-signatures have also become an important part of the human resource department, wherein, collecting documents, sending offer letters for signature and their turnaround time; all of these could easily be handled by E-Signature platforms.

On the other hand, maintaining the records of donations, getting contracts for supplies signed easily; the E-signature platforms have contributed heavily to the non-profit organisations, giving them the time for their noble cause and primary goals.

Conclusion

To sum up, e-signature platforms like KONSIGN provides advantages that go beyond simple digitalization; they signify a fundamental change that will make organisations in all sectors of the economy safer, more effective, and more flexible in the future.

With KONSIGN’s easy to create & share, tis flexible workflow it has become one of the topmost choices for businesses across different industries.

Businesses that use e-signatures are committing to a radical change in how they do business and engage with stakeholders, not just signing papers.