The successful digitisation of business processes is not an easy undertaking. The paperless office is rapidly becoming the norm for most businesses.
Many core business tasks have been significantly improved through innovative technologies and solutions. One of the main drivers behind these enhancements is the desire to increase workplace productivity and operational & financial efficiency.
In this blog, we discuss how electronic signatures can help achieve these business goals.
A quickening in the pace of business is the catalyst for this change. For most organisations, it is more of an opportunity than a challenge.
Workplaces have undergone an evolution. The COVID-19 pandemic brought about a change to a more remote or hybrid way of working. Employees want access to innovative tools that increase the speed at which they make decisions, share resources and communicate from anywhere in the world, at any time.
Document workflows streamline the approval process, saving valuable time and financial resources. At the same time, organisations need to ensure the integrity of their data while securely identifying users and their devices.
What is an eSignature?
An eSignature or electronic signature provides businesses with a legal, efficient way to acquire approval on electronic documents. An eSignature can easily replace traditional handwritten signatures, providing efficiency to any business.
There are several different types of eSignatures. It’s important to choose an eSignature process that meets your requirements and will grow with your business.
Different types of electronic signatures
Did you know there are six different types of eSignature? Each type of eSignature has its place in business and provides varying levels of security.
- Click-to-Sign eSignature
- Biometric eSignature
- Basic eSignature
- Advanced eSignature (AES)
- Qualified eSignature (QES)
- Cloud Signatures for Remote Signing
It’s essential to remember that not all these eSignatures are equal in terms of security and compliance.
The one constant in business processes is change. Choosing an electronic signature solution that can support your needs while providing flexibility for the future is important.
Learn more about the different types of eSignatures in our eBook.
Increasing workplace productivity with eSignatures
With an evolving international business environment, implementing signing solutions that work across borders and provide mobility is essential. Electronic signatures enable businesses to authorise signing actions directly from mobile devices to a signer halfway across the world without the need to travel there. It also eases the growing approval chain process complexity, saving your business time whilst providing high-security, compliant signatures.
Moving away from a paper-based signature process provides excellent efficiency and sustainability. The signature process is much quicker when choosing an eSignature, removing the need to print, mail, check and send signatures back to the signer. Digitising your signature process enables businesses to focus more time on other business-critical matters.
Additionally, eSignatures make document storage easier and much more efficient. Once documents are signed, they must be verifiable long after the initial signing. Time stamping from a trusted time stamping authority (TSA) ensures your business has undeniable proof that the signature is legal and hasn’t been altered.
Should this ever be disputed in the future, the burden of proof lies on the signer. This saves your business precious time and legal costs.
Streamlining workflows
Opting for a digital transformation or ‘going paperless’ offers several advantages to businesses. Electronic signatures are an example of a “high-impact, low-effort” change to business workflows. Paper-based signatures delay the signing process, taking up time that could be spent focusing on more productive tasks. By speeding up the end-to-end signing process, businesses can enhance the customer experience.
Time-saving is one of the key benefits of adopting eSignatures. There are other advantages, though, including:
- Digital audit trails – Improve compliance and time management
- Cloud-based archiving – Eliminate the space, cost and time associated with paper archiving
- Streamlined signing process – Enable faster signing between parties and reduce signer drop-off rates
- Increased security and confidentiality – Security through cryptography and digital certificates eliminates risk of forgery and cloud storage with password protection ensures complete privacy
- Cost savings – Electronic signatures help reduce operational costs incurred by paper purchase, printing, handling, archiving and storage
Adopting a digital transformation or integrating automation and eSignatures into your business processes is a cost-effective, secure way to increase efficiency and streamline workflows.
Now is the time to rethink how your business approaches its documentation process. If you’re considering an electronic signature solution, go in prepared. Make sure you choose the right eSignature for your business before signing on the dotted line.
