In B2C businesses, customer sentiment is often a main driver for change. In this blog, we examine how consumer confidence is driving eSignature adoption in businesses.
Digitally signing documents is becoming more prevalent as industries realise the efficiency and productivity benefits. We have discussed the business benefits for multiple internal departments, but there are also many advantages for B2C companies.
Consumer confidence in eSignatures
A recent report revealed 77% of consumers are comfortable with signing documents online. This confidence is great news for businesses. The approval process is business can often be lengthy and involve multiple parties.
If consumers are comfortable signing online, documents can be approved faster and it cuts down on in-person meetings to sign. This positively impacts turnaround times, freeing up time to focus on other tasks.
Justin Guin, Market Research Associate from the online technology reviews firm Software Advice explains:
“Finance is the most common industry for eSignature use. Over a third (39%) of consumers indicating their most recent encounter with eSignature software was in the finance space. That’s twice as much as the second-most popular space, human resources. Esignature software is great for enabling employees (and even applicants) to officialise documents without having to go back and forth with physical copies.”
For HR departments, the ability to electronically sign contracts and digital documents is a great time saver. Tracking the document between parties prevents hold-ups and helps keep employment start dates on schedule.
A high-security industry like finance has adopted electronic signatures to provide more assurance to customers. It must be noted that basic eSignatures do not provide the same legality as paper and ink signatures. If that level of security is required, an advanced or qualified eSignature would be necessary.
Documents relating to mortgages, employment contracts and financial agreements are obviously important. Both parties want assurance that their electronic signature is valid, legally binding and cannot be altered. This prevents potential forging or fraud and provides evidence of who signed and when.
Find out about the different types of eSignatures.
