This is a guest post by Anna Stacy. If you want to guest post on this blog, check out the guest post guidelines.
Mull over the last decade and you’d witness that a vast majority of business and corporate processes have shifted to a more technologically rich environment – the World Wide Web – and that too at an astounding rate.
Today, over a billion people worldwide are investing progressively in business-to-consumer (B2C), business-to-business (B2B) and even government-to-consumer (G2C) processes on the Internet, which has become the ultimate breeding ground for various business brands.
With the emergence of fully automated processes, things have become even more convenient. Similarly, electronic signatures have enabled various business transactions online to be approved, accepted or signed without turning towards the traditional – rather more costly – ways of paper-based hand signatures.
Electronic signatures offer a paper-free way to digitally sign a document using a verified electronic symbol [image] or process associated with a document. To understand the process better, check out the ten platinum ways that have minimized much of our everyday business problems or issues pertaining to the driving an e-business more smoothly and productively:
1. With the automation of the verification or signing process using electronic signatures, it offers a more easy way to execute various transaction processes online and reduce the time it, otherwise, takes for businesses, governments, and citizens to make any sales or purchase orders, gather any management approval or even apply for a government program or job online.
2. You can easily execute any business deal or perhaps sign an important legal document sitting in one corner of the world across another safely and securely.
3. You can sign documents frequently and transfer it online. If, for instance, the technical security (such as encryption on transporting data online using the Internet) or your organization’s internal security (such as for clearing gateways) is breached, hacked or failed to offer the essential security, your data can fall in wrong hands and consequently, misused or mishandled for selfish gains. However, with electronic signatures, your documents are completely processed in a secure and automated environment.
4. Traditional paper documents are manually analyzed or carried out with limited computer support; however, unencrypted digital signatures can be analyzed in a completely computerized way, without any third party involvement of any sort.
5. Electronic signatures can confirm the identity of the signer, verify the genuineness of a document, and also enable non-repudiation from the legal perspective.
6. For business transactions, these electronic signatures can offer a greater efficiency and fast turnaround, while eliminate any costly printing requirements including paper cost, or time consumed in fixing typing errors. You can accelerate sales, track all business contracts in real-time, and also automatically store and manage all the signed agreements in a secure vault maintained virtually.
The manual process involves painstakingly going through the process of purchasing paper and that too of high quality, getting the document printed on it, then signing it manually and sending it via fax or scanning it and then emailing it and vice versa when received by the party. Not to mention the high maintenance charges that your printer, scanner and fax machines takes…to simplify the calculation, digital electronic signatures can reduce this entire process and cut down your expenditures cost to thousands of dollar per annum – that’s almost 70% of cost cut down for you. The cost of sending each item is virtually NOTHING! No paper cost, no stamps, no envelops or fax paper. Instead of relying on expensive courier services.
7. Many laws and regulations have been made in attempt to address the effectiveness of electronic signatures in order to accommodate any technology changes over time since, by all means, this digital process offers more flexibility depending on the assurance-level requirements for any particular business or personal work execution or deployment. A bill was passed by the US government to legalize this digital signing process in order to authorize contracts electronically, rather than people relying on handwritten signatures.
This isn’t just limited to the US, legislations concerning the validity of digital electronic signatures have been passed in the European Union and the European Economic Area, China, Switzerland, Turkey, Korea, New Zealand, Moldova, Peru, India, Russian Federation, Guatemala, Canada, Brazil, Argentina, Malaysia, Uruguay, Japan, Philippines, Switzerland, and also United Nations Commission on
International Trade Law.
8. Using electronic signature capabilities, your organization can bring in more of the traditional paper-based processes online, reduce business costs, and invest the amount saved on more productive ways to expand the business. Where time is money, imagine all the valuable ways to expend this time that you can save and conquer heights of success and business prosperity.
9. Not only this, this process use highly advanced and 100% secure means which leads to gathering trust of more customers or key stakeholders and hence increase customer satisfaction owing to the sense of their information’s authenticity and integrity that you provide them with. The process involves information being delivered from one party to another, one desk to another or even one country to another without any human involvement. No one can, hence, copy the signature and use it for malicious self-desires by some third party intrusion.
10. Companies can easily dispatch product notices, bank balance statements, and other disclosures to their customers via the Internet in substitute to the time-taking postal
If you haven’t switched to this innovative and highly-advanced process of document signing yet, you’re missing out on many added benefits that you can otherwise seek with process of digital electronic signatures.
Anna Stacy has in-depth knowledge and experience of Electronic signatures solutions. Her basic forte lies within process optimization and process re-engineering, and has a long-term obsession with e-sign. She is a leading source of what’s hot and what’s not in the online digital signature space.