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How Can Your Small Business Benefit From eSignature Solutions?
Every business, small or large, has a lot of paperwork to deal with in everyday operations. For instance, managers must sign contracts with various suppliers and service providers. They also need to sign customer forms to agree with their content. An electronic signature (eSignature) is the most effective way to sign company documents.
An Overview Of eSignature Solutions
ESignature is a process of signing digital files, and it’s an equivalent of a handwritten signature. In other words, it’s an electronic indication of an individual’s intention to agree to the content of an online file. It, therefore, enables one to sign legally binding contracts without printed papers. Some situations you may use for eSignature solutions include sales agreements, invoice processing, new hire documentation, vendor contracts, purchase orders, etc.
To create eSignatures, you must utilize an electronic signature generator. This is an automation tool you can use to sign online documents. It allows you to type your signature, download it, and attach it to your files. And the good thing about such a tool is that it allows you to customize your signature to make it unique.
Benefits Of eSignature Solutions For Your Small Business
Your enterprise can benefit in various ways by leveraging the power of eSignature technology. They include the following.
Helps Reduce Cost
Reducing costs is one of the most effective approaches to ensure your small company continues to thrive. When you minimize expenses, you can save money and promote your firm’s profitability. For that reason, ensure you find effective ways to keep costs at the lowest level possible. And one of the best ways to achieve that is by shifting to eSignature solutions.
Signing documents online enables you to minimize expenses in many ways. For instance, it eliminates the need to deal with physical files. As such, you won’t need to purchase things like printing machines, ink, and paper. Everything will happen online, including creating, signing, and sending files to users.
Additionally, signing documents online means storing them on the cloud. Therefore, you won’t have to hire a large storage space. A small one will just be enough for a few files you may want to store in your office. That helps reduce your rental expense.
You also need to note that dealing with physical documents requires you to hire delivery services anytime you want to send them to users. And that attracts extra costs. On the other hand, eSignature solutions enable you to send documents online, eliminating the need for document delivery services. All these go a long way toward ensuring you reduce expenses to maximize the profits of your small business.
Helps Save Time
You’re wasting a lot of time if you still use traditional document signatures. For instance, you must spend several hours printing documents, signing them, and then scanning them again if you want to transfer them through online platforms. If that isn’t the case, you might keep running up and down searching for delivery services to help send your files to recipients. That leads to a waste of time.
Besides, signing documents in the traditional way probably implies that you’re storing physical files in your office. That also can take much of your time, especially when arranging large volumes of documents in your office. It can also come with many hassles as you try to locate a single document from piles of files.
ESignature solutions can help you to save time. For instance, you don’t have to print the documents to sign them. You can do it online in seconds. And because you can share the signed documents online, you won’t need to keep traveling to find document delivery services. That way, you can save a lot of time, which can be utilized to complete other important tasks.
Improves Document Security
Sticking to traditional signatures exposes your documents to a lot of security issues. For instance, unauthorized persons may access your company’s information, especially when you leave documents on printing machines. Also, your files may fall into the wrong hands with delivery services. All these expose your business data to security issues. That’s why you need to invest in electronic signature solutions.
With eSignatures, you won’t necessarily have to deal with physical documents. You can send them only to the intended recipients through online portals. And because most digital document-sharing platforms have the added layers of identity verification and file encryption, you won’t be worried about cybersecurity attacks. That ensures you improve the security of your documents or company’s information.
Provides Better Customer Experience
You must be careful about customer experience and satisfaction when running your small business. With poor customer experience, your small business will barely take off the ground.
Using traditional signatures can hurt your customers’ experience in many ways. For instance, they might be forced to keep going to the postal offices or come to your office to pick up the documents you want them to sign. That harms their convenience and flexibility, and you might lose them.
You must understand that customers will always want to do business with companies with electronic services. It’s, therefore, necessary to shift to eSignature solutions. It’ll make customers happier, thus enhancing your retention rate.
Another great benefit of eSignature solutions is that it helps your small business to comply with legal requirements. As companies continue to use technology, so are many regulations drafted regarding the collection and transfer of personal information. It might not be easy to comply with some of these regulations when using physical documents and traditional signatures.
On the other hand, most eSignature solutions are built with most of the data regulations in mind. Therefore, you won’t be worried about noncompliance. You’ll always remain compliant with the relevant guidelines when dealing with customers, suppliers, employees, and other stakeholders’ information.
Small businesses face a lot of challenges. Therefore, any strategy that can help save your company should be implemented. And one of them is eSignature solutions.
As detailed above, there are several benefits of eSignatures for your enterprise. However, you must ensure you find the most suitable solutions.