5 reasons why e-signatures are better options for businesses

To cater to the fast-paced, highly distributed audience; one of the easiest ways to enhance customer (and employee) experiences is to migrate from paper-based processes to efficient digital document workflows.

With an increased focus on social distancing measures – managing physical documents is not feasible. With electronic signatures (e-signatures), the place of work does not matter anymore. (Pixabay)

The current business landscape is pushing companies to re-evaluate their operational practices and workplace efficiencies. Given the dynamic nature of the environment we're in these days, business models need to undergo a complete overhaul to adapt to the new ways of thinking, learning, and working.

To cater to the fast-paced, highly distributed audience; one of the easiest ways to enhance customer (and employee) experiences is to migrate from paper-based processes to efficient digital document workflows. If the current socio-economic situation is any indication, then India needs to move faster towards paperless and faster ways of execution of documents.

According to Adobe India, here are five points as to e-signatures are relevant and why business dependencies on something like e-signatures will only increase in the next few months: 

1. A ‘location-independent' solution

With an increased focus on social distancing measures – managing physical documents is not feasible. With electronic signatures (e-signatures), the place of work does not matter anymore. Eliminating the need to scan, e-signatures simplify and streamline document authentication - without sacrificing security or validity.

2. Improve experiences and maximise efficiency

Open-standard digital document formats are now accepted by businesses around the world. Digital workflows with editable PDFs and e-signatures enable smooth customer interaction and easier backend processing. It further eliminates manually rekeying of information, reduces associated errors and ensures peak performance by automating processes, approval routing, and integrations with back-end systems.

3. Prioritise security, privacy, and compliance

Physical documents not just face the issue of potential damage, theft, or tampering but also the concern of safety and security. Digital documents that can be password protected with sensitive information redacted — plus, e-signed document ensure authenticity, credibility, tractability, and are internationally compliant. Businesses also have access to metadata such as date and time of signing, the email address, signer's IP address, or geolocation for complete transparency and verifiable audit trail.

4. Sustainable

Adopting digital document workflows can help boost productivity and reduce an organisation's overall environmental impact. By eliminating legacy processes, businesses can reduce paper dependencies – saving various natural resources in the process.

5. Faster business wins and cost optimisation

Typical corporate contracts can take weeks for customers to review, discuss and sign. Digital workflows with e-sign can help mitigate the delays, close contracts faster and begin working with new clients sooner. Additionally, eliminating the overall cost of paper processes can enable better resource allocation and increased efficiencies.

Opting for an efficient digital documentation platform not only helps lay the foundation for next-gen operations, but also helps define experiences that are seamless and digital-first. With ‘digital' set to become the key to business efficiency, digitizing paper-based processes will enable businesses to thrive and cut above the clutter, in not just the current market landscape, but also in days to come.