Why use an eSignature solution?
October 26, 2018
You have probably heard the terms eSignature, e-signing or digital signing being thrown around quite a lot in recent years, but what do they mean and why should you be looking into them? In this article, we are going to go over what e-signing actually is and 5 reasons you should be using an eSignature app in 2018 and 2019.
A definition of eSignature (Electronic Signature)
"An electronic signature is an electronic indication of a person's intent to agree to the content of a document or a set of data to which the signature relates. Like its handwritten counterpart in the offline world, an electronic signature is a legal concept capturing the signatory's intent to be bound by the terms of the signed document."– CEF Digital
So, what's the point of using an eSignature app?
Esignature apps are used to secure and expedite the classic, wet ink signing process, and improve data security for organisations. An eSignature app allows you to authenticate a document digitally and quickly with a virtual mark or 'signature'. eSignature app are now widely used cross-sector including eSignature for recruitment, eSignature for accounts, eSignature for sales, eSignature for public sector and many more.
Five reasons you should be using an eSignature app
1. Use it for data protection
Given the long and trusted history of paper-based signing, it may be hard to believe that eSignature is proven to be a much more safe and secure process. But by using encrypted communications and the third party audit logs record by Legalesign, as well as the authority of a certified PDF for your signed documents, including eliminating the opportunity for fraud by the sender (who is unable to access and sign the documents) you get a considerably more secure process for signed documents. And on the flip side, within your own organisation, centralising and logging all your contracts, and the activity surrounding them will secure your company's own data handling around contracts.
2. Use it for complete oversight
In today's world of business, we often have customers, partners and suppliers spread out across the globe. An eSignature app allows you to get contracts and documents signed remotely, cutting out that often very long waiting process to get a signed doc back from a different city, county or country. Using an eSignature apps also allow for a completely centralised signing experience. Take Legalesign for example, you can see all of your contracts and documents that are out for signing, the stage they are at and view any electronically signed documents all from the app.
3. Use it to reduce turnaround times
An eSignature app makes the traditional wet ink signing process much faster and more efficient. E-signature cuts out the tediousness of sending a document to a recipient, them having to then print it, sign it, and send it on to the next recipient. With a product such as Legalesign, all recipients can sign off within seconds and as soon as a document is signed it is available to the sender automatically. The faster, more efficient process of eSignature gives you and other business owners the peace of mind that documents will be signed quickly and more effectively. In the last month, 61% of signed documents on Legalesign were completed within an hour, and 81.2% in 24 hours. Learn more about when it's the best time to send a document.
4. Use it to simplify your working day
When people think of implementing new software into their business, it is often accompanied by fears of time spent learning how to use it and how complex it will be. This isn't the case with most eSignature apps, for example with Legalesign, we have put a lot of time into making the UI as easy and simple to use as possible. Allowing you to upload your document, add in signing fields, choose the signers or approvers, and send out the document to your chosen recipients. You can then track the document throughout its journey, once signed you are notified, and the process is complete.
5. Use it to axe costs
When it comes to paper signing, you are paying out in the forms of paper, stationery, postage, printing and most importantly time! With an eSignature app, you axe all of those costs. The only cost incurred with an eSignature app is a monthly subscription which offers significant value set against the cost of all of the above. Most eSignature providers allow you to try before you buy, but at Legalesign we provide a free trial that doesn't require any payment info.
We hope this short list has shown you just how beneficial eSignature could be for you, if you feel that eSignature is the next step for your business, get in touch with us. Or if you want to get some hands-on time with our eSignature app, try by using the free trial now.