Industries all around the world have stepped into an era of digitization, where age-old practices have gradually moved aside, and quicker, more intelligent methods of working have surfaced. The face of business is continuously changing, and the last few years have seen a boom in the number of industries embracing the latest technological trends. Digital transformation, especially esignatures, has never been more significant, and it looks like there is no stopping it.
Over the years, there have been many breakthroughs in the field of technology for business. With newer tools introduced for enhanced business processing, every business tool and its functions vary from industry to industry – whether it is CRM, accounting tools, email marketing tools, or even Chatbots.
Ultimately, the purpose of these tools is to help your business grow by reducing costs, saving time, and enhancing the customer experience.
One such tool that has made its way into business models is the Electronic Signature platform. E-signatures have steadily become one of the easiest and most secure means of executing contracts or agreements. It eliminates the hassle of manual follow-ups that involve multiple signatories and location constraints. Businesses are constantly evolving while trying to find ways of doing things in a quick, secure, and cost-efficient manner, and eSignature platforms offer just that. Electronic signatures have long been deemed as legally binding and are a sustainable way of moving your business forward.
Also Read: Automate your Contract Signing Process with eSignatures
Significant Ways eSignatures Can Help Transform Your Business Digitally
- Increased Speed and Productivity
- Higher Cost-Savings
- Enhanced Security
- Greater Flexibility
- Improved Customer Satisfaction
Increased Speed and Productivity:
Signing paper contracts substantially increases the time taken to get into agreements and also slows down the delivery of services. With an electronic signature platform, the time and effort taken to get multiple signatures or approvals across the business are significantly reduced, making business processes faster than ever. The most notable benefit of eSignatures is the eliminated manual error rate which makes for a risk-free addition to any business.
Higher Cost-Savings:
The most apparent of the savings is the cost of paper and ink, printing, packaging, postage, and delivery/shipping. The cost of using paper itself, plus paying someone to perform these administrative tasks, can be extremely high. In addition to this, eSignature platforms help avoid the costs of fixing problems that occur due to human error.
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In this fast-paced and competitive digital landscape, Electronic Signature and Digital Signature are an important parts because businesses conduct almost all their activities digitally.
Electronic Signature and Digital Signature may seem like similar concepts, but the difference between the two, although slight, is still prominent.
The confusion arises as they are more often than not used interchangeably.
In this blog, ePillars, one of the well-reputed leading Digital transformation solution providers that offers the best and trusted esignature in UAE, explain the difference between an electronic signature and a digital signature.
From quickly handling student applications to doing employee on-boarding, electronic signatures provide a safer and more effective way of obtaining signatures.
In 2000, the ESIGN Act gave e-signatures the same legal standing as wet-ink signatures.
That was followed by the UETA act, which was embraced by most states in the U.S to guarantee uniformity in the use of e-signs and electronic records.
