In light of COVID-19, companies and professionals are turning to digital solutions to get business done. Especially the online signature process has grown in importance as new laws, deals, and documents need to be signed despite any local or global lockdown restrictions. The adoption of online e-signature solutions has become more valuable than ever.
In an effort to remain current, those involved in the digital signature process are forced to adjust their practices as the traditional mindset is phased out. As a result, those who were once skeptical of e-signatures are now adopting them more rapidly to remain competitive in a digitally-driven world.
What is an e-signature solution?
An electronic signature is a service that allows anyone to email documents to others for signatures. As the documents and the singning process are kept within the application, the whole workflow becomes effortless and can easily be processed despite any time difference or geographical distance between the parties involved.
E-signature solutions are convenient, secure, and legally binding. The ESIGN Act of 2000 is a federal law that legally recognizes electronic signatures as long as all parties in a contract agree to its use. Electronic signatures are thus accepted in all US states and have the same legal weight as handwritten signatures.
How has the pandemic affected the use of e-signatures?
During the height of the pandemic, numerous companies are becoming aware of the power of digital solutions. The adoption of an electronic signature solution has proven itself to be a real game-changer in regards to how contracts and agreements are processed in a wide variety of businesses.
It is, however, important to understand that e-signature solutions like Countersign have been around for quite some time and have already been adopted by millions of individuals, businesses, and even government organizations.
The benefits of using e-signature solutions
There are a number of benefits that make the adoption of e-signature solutions an easy step. For starters, the use of these digital solutions helps to keep business transactions more organized. It has also made it easier for business partners to track documents and deals which have taken place across state lines. It is much easier to validate transactions online, from any device, without having to rely on a physical document that is stored away in a folder in some office space.
Let’s take a closer look at some main benefits of e-signature solutions:
With digital signature solutions, it is merely impossible to steal, misplace or tinker with a contract, since the technology not only stores documents in a safe and secure manner but also encrypts them. This adds a valuable layer of security to confidential information and prevents unauthorized access.
In the past, the use of paper contracts meant that businesses had to rely on fax machines and mail carriers which were not always secure or efficient. This made it impossible for companies to keep track of their business dealings and ensure the security of confidential information.
Easier and more organized transactions
With e-signatures, it’s now easier for companies to keep track of their transactions so they can get things done in a more efficient and organized manner. Documents signed with an online e-signature solution are kept in the cloud, and can be accessed by authorized personnel at any time, with any mobile device that has a browser and the internet.
Companies used to rely on physical files which often meant physically storing documents in disorganized files and folders. It was difficult for business partners to access them at any time without going through a series of steps.
Quicker, and faster signing
The use of digital signature solutions has also helped to speed up the signing process. This is because a digital solution requires a lot less time and effort than a manual one. Companies who rely on e-signatures managed to cut down the number of days for completing an important deal from five days to a few hours.
Business partners are therefore able to complete transactions much more quickly and gain an upper hand in today’s competitive market.
The popularity of the adoption of e-signature solutions has made it easier for companies, institutions, and professionals to do business more securely, efficiently, and in a more organized fashion.
With the global pandemic amplifying the technology’s rate of adoption and relevance, you may want to explore your options with a trusted provider like Countersign. Countersign offers secure, modern, and mobile-friendly e-signature solutions with scalable pricing for different needs.