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Every business must have excellent document management systems set up to streamline essential workflow processes. The digital transformation is reshaping businesses across the globe and its reach has heavily influenced document management systems worldwide. In fact, almost 75% of businesses cite transforming their business to be more digital-savvy as their top priority. A central part of the universal and necessary workplace digital revolution is the use of electric forms rather than their traditional paper counterparts. To remove paper from the equation completely, an electronic signature is required to sign such documents. This article will detail all the need-to-know information regarding electronic signatures and the benefits they can provide for your business.

What Is an Electric Signature?

Electronic signatures serve the exact same function as hand-written signatures. It is legally recognized as a sign of consent when it appears on an electronic document. Where traditional document signatures are carried out using pen and paper, an electronic signature is completely digital.

Signatures play an important role in a host of salient processes that are vital for agreements, legality, consent, authentication, and business at large. An electronic signature wields all the same powers as written signatures but is affixed on an electronic form.

What Are the Benefits of an Electronic Signature?

The digital transformation currently revamping workplaces has hugely impacted numerous aspects of most businesses. Hence, business investment to implement digital changes is expected to grow by almost 20% by 2026. However, from a digital document management standpoint, the foremost process a majority of businesses want to address is the acceleration of document processing.

In this regard, electronic forms and electronic signatures are vital components to realizing this reality. But faster turnarounds in document processing aren’t the only benefit to be gained by the use of electronic forms and signatures.

Here are some of the key benefits that the utilization of electronic signatures can add to your business:

Efficiency and Productivity

An electronic signature is a prime example of one of the many shifts businesses are introducing as the digital transformation accelerates. The use of electronic forms and electronic signatures in boosting efficiency and productivity is undeniable. The introduction of these key technologies speeds up document processing times exponentially by dramatically reducing administrative work

In terms of business digital document processes, 45% of companies identify improving productivity and time savings as crucial. A business that uses electronic forms and electronic signatures will significantly cut down on time-consuming administrative tasks such as:

• Removing the need to print and scan physical documents for signing
• Eliminating the need to post documents that require signing
• Overall streamlining of the entire document signing process

Customer Experience

In terms of creating a smooth customer experience, electronic signatures can make a big difference. In a competitive business environment, this can be a decisive factor in fomenting customer loyalty. The principal ways in which it does this include:

• Improved convenience
• Removing the risk of documents being lost via mail services
• Massive increase in the speed of document processing
• Less paperwork and hassle for your customers and clients

This translates into improved customer satisfaction and retention and gives your business a competitive advantage over rivals. In addition, it will convey a sense of professionalism and let your customers know that your business is at the forefront of technological advancements.

Cost Effective

In every business large or small, being as cost-effective as possible in all workplace facets and processes is paramount. It can be the difference between a business that succeeds and one that fails. Therefore, electronic forms and electronic signatures greatly reduce a variety of workplace materials and processes such as:

• Decreased printing costs, which means less frequent need to replace ink cartridges.
• Eradication of postage services to deliver documents that require signing
• Reduction in administrative expenses due to decreased manual handling of documents
• Reduced downtime facilitated by faster turnaround times
• Error correction, specifically the time needed to resolve such errors
• Reduction in the amount of office stationery used such as paper and pens

Sustainability

In today’s climate, a business that incorporates efforts to make its business more sustainable is highly sought after by modern customers and clients. In fact, 44% of consumers are more inclined to do business with a company that has sustainable practices in place and electronic signatures are one such practice.

The use of electronic signatures will make your business more attractive to potential customers. More importantly, it will reduce your business’s carbon footprint and waste and increase its sustainability at a time when it’s needed most.

Security

In sharp contrast to traditional paper forms and signatures, electronic forms and signatures are much more secure. When it comes to legally binding documents and agreements this is extremely important. Electronic signatures are imbued with hyper-advanced authentication and encryption tech that gives them the edge over their handwritten equivalents.

These state-of-the-art technologies protect your critical business documents from a range of threats such as:

• Fraud
• Tampering
• Unauthorized access

This builds trust in your business in the eyes of your customers from an integrity and security perspective that can lead to long-lasting relationships.

Remote

The ability to correspond and send and receive documents for signing from any location at any time is a huge advantage of electronic signatures. In the past, documents had to be sent via postal services that were limited in range, opening hours, and speed. However, electronic signatures have removed these impediments and allowed digital remote signing of documents to happen anyplace and anytime.

This benefit is amplified for younger demographics that are more in tune with tech developments.

Make the Most of E-Signatures and Transform Your Business

Investing in new technology can be overwhelming but to remain competitive in the modern economy, it’s essential. Electronic signatures are a game-changer for businesses, offering a seamless, cost-effective solution to streamline document workflows and enhance efficiency. By ditching paper-based processes in favor of electronic forms and signatures, businesses can save time and money and reinforce customer relationships.

Stargel Office Solutions is the best in the business at advising and providing the ultimate electronic signature solutions for your specific business. If you’re in the Houston area, contact Stargel Office Solutions today and upgrade your document management systems for the modern era.