The 10 Benefits of Using Electronic Signatures
What are the benefits of electronic signatures?
- Reliably increases security
- Can be used remotely
- Quick and convenient
- Helps streamline the contract process
- Creates paperless workflows
- Is machine-readable
- Enables workflow tracking
- Enhances customer experience
- Increases mobility
- Saves time and money
Have you made the shift to signing business documents using electronic signatures? If you haven’t yet, then you should.
There are many benefits of electronic signatures for your business. They’re an important tool in an effective and efficient contract management process. Curious to see how this tool could revolutionize how you do business? Keep scrolling — we cover all the advantages this technology can provide you.
Electronic signatures are reliable tools. They guarantee the origin and authenticity of the signature. This is because electronic signatures are difficult to forge compared to wet signatures. They are also tagged with important information, such as the signer’s identity and when it was made. This is encrypted, preventing even minor alterations and adjustments.
So, the people involved in your contracts are certain about:
- Who signed the document.
- That the signature was not modified afterward.
- That the person who signed can’t deny that they made the signature, or that it is tampered with afterward.
So, electronic signatures are safe to use — more so than wet signatures. With this tool, you’d have less to worry about as your contract management process is more secure than ever.
Can be used remotely
Electronic signatures can be made not only on your laptop but also from a phone or tablet. So, no matter where your team or clients are located, they can use this tool.
It’s a fast and efficient method of getting documents signed and ready to go even across countries. This is especially helpful when you’re dealing with international clients or hybrid workforces.
Quick and convenient
Platforms like Twala, which provide electronic signature tools, can be quickly added to your internal processes. Thus, they are convenient and easy to use, even for those who aren’t as tech-savvy.
Whether you’re sending or receiving documents, the signing process becomes more straightforward. All you need is a verified account, click a few buttons, and your signature will appear on the appropriate spaces. In short, electronic signatures are a no-brainer.
Collecting approvals and signatures from many parties is quick and convenient, too. After adding them to the document, they can attach their signature in a matter of minutes.
Helps streamline the contract process
Businesses in any industry have enough to worry about. No one wants to have the added problem of having to wait for paperwork to be passed around for weeks before a document is complete.
Luckily, electronic signatures can streamline the contract process in many ways, such as:
Provide a signature that is good for the life of the contact. This removes the need for repetitive signing.
Accelerating negotiations, verification checks, and more. Each step in the contract process is authenticated. This information is accessible to all parties on the document. Thus, critical issues can be identified, tracked, and resolved much quicker.
Providing easy signing solutions, even when the people involved are located in a different city or country. Signing can be done even on your phone, so there is less delay in updating or completing documents.
Creates paperless workflows
Because they’re signed electronically, your documents can also be processed electronically. You can do away with printing and scanning many documents. Instead, Twala enables you to start and finish documents on a digital platform.
Since you no longer need physical copies of your documents, there is no need for physical storage. This means you need to dedicate less space in our office for filing cabinets and the like. You can also cut down on paper expenses! Twala helps you collect signatures and complete several documents at a time — all without using a single piece of paper.
With electronic signatures and platforms like Twala, your contracts are electronic from the get-go. And, since they’re electronic, your documents are also machine-readable.
The benefit of this is that the contents of your documents can be read by screen-reading software. This makes it more accessible for both your clients and employees. This also makes it easier to find or look up something specific in your document — as searches can be targeted at certain keywords or sections.
Enables workflow tracking
One of the biggest problems with traditional contract processes is that you have to keep track of many things. Has the document been sent and received? Was it already signed? Who signed it and who’s holding us back?
With electronic signatures, you can easily track who signed your documents — and when. You have a complete paper trail of how the document was processed. This allows you to pinpoint the status of your documents with just a few clicks.
Enhances customer experience
Most customers are accustomed to a digital experience. Many prefer it — after all, it’s extremely convenient. Using electronic signatures means your processes follow the latest practices that your customers expect. It also makes the signing process hassle-free for them. They can sign anytime, anywhere, even when they’re out of the office! Thus, you enhance the experience you provide to your customers. This creates happier customers who are more likely to support and promote your business.
Electronic signatures help your business achieve — and even increase — the mobility of your people. If you have a mostly mobile workforce, then electronic signatures are a must.
They allow them to send, receive, and complete documents whenever they need to. This increases turnaround time and makes it easier to conduct business even when they’re on the go. Thus, their efficiency soars, and they have more time to deal with client meetings, or whatever else they need to handle while on the field.
Saves time and money
As we hinted at, one of the biggest advantages of electronic signatures is that it saves time. No more needing to meet in person or deliver documents to get them signed. All you have to do is upload a document, send an email, and it can get signed in a blink of an eye.
Saving time and money go hand in hand. All these benefits add up to big savings for your business. From cutting paper expenses to shortening turnaround times, your business becomes more cost-efficient. With Twala’s electronic signature tools, you’ll create more savings that improve your bottom line.
The many benefits of electronic signatures show how they save time and money, improve the signing experience, and enhance flexibility and mobility for your business. Electronic signature is perfectly legal in many jurisdictions globally including the Philippines.
If you’re now considering making the switch, Twala can help. We use advanced electronic signature technology to facilitate your documents and contracts online. This further improves the potential benefits you can receive from such a tool. Send us a message to learn more about our plans, or sign up here to try our service for free!