With the advancement of digital technology, including smart devices and the internet, the use of electronic signatures has also increased. However, it is still a question of why you should use e-signatures for various online documents.
Therefore, this article initiates to share the top reasons to use e-signatures for confidential documents. This guide will also describe exactly what an e-signature is and how it is different from a digital signature.
What is an E-Signature?
E-Signature is an online and digital method to sign documents to give approval or consent instead of using conventional wet ink and paper. Moreover, electronic signatures are considered valid for invoices, legal documentation, and financial and contractual agreements.
In the United States, e-signature comes under Electronic Signatures in Global and National Commerce Act (E-Sign Act) and EU countries. EU Regulation No 910/2014 gives a legal verdict about using e-signatures. So, people, at least from these countries, can accept and use electronic signatures without any worry.
Top 10 Reasons to Use E-Signatures for Confidential Documents
If you are new to e-signatures and want to find the why to use e-signatures for confidential documents, then you must read the following reasons:
Whether you are a big enterprise, a small business, or a startup, you can go with e-signatures. Indeed, it is riskless to electronically sign a confidential paper and send it through secure and fast online means. Hereof, you don’t have to share this paper with other people while printing and delivering it through postal services.
Similarly, you don’t have to worry about shredding and discarding this paper file when you sign documents electronically. It also avoids the risk of physical damage to the contract paper due to any mishap in the office. In addition, companies can utilize cloud-based platforms to keep electronically signed documents safe and access them anytime.
2. Legal Binding
Although different countries of the world have different laws regarding the legal value of e-signatures, you get valid cover in most developed and EU countries in this regard. Likewise, the EU’s Electronic Identification and Trust Services Regulation (eIDAS) makes electronic signatures enforceable in associated countries.
By the same token, Japan gives legal protection to e-signatures under its Electronic Signatures and Certification Business act. With U.K. eIDAS, you can legally challenge or authorize electronic signatures in the United Kingdom. The other countries that legally comply with e-signatures are China, UAE, Australia, Canada and Brazil.
3. Reduces Cost
E-signatures are cost-efficient compared to the traditional method of signing a document. When you go this way to sign a document, you don’t have to pay for ink, paper and printing costs. Furthermore, it also saves travel and management costs that are needed to provide these office supplies and securely gather and administer confidential documents. You can just use a cloud platform to store all of your sensitive data there and approach these files anytime, anywhere.
Businesses also love electronic signatures because they reduce time consumption. Companies don’t have to wait for hours and days to send confidential papers through the post. This process only takes a maximum of 15 minutes and fastens the business operations.
Traditional signatures consume lots of natural resources, including paper, ink and many other things. Luckily, businesses can safeguard the environment from disastrous climate changes by using e-signatures. Yes, it is an important reason to use e-signatures to overcome the use of paper, wooden cupboards, utensils and transportation resources.
In short, e-signatures are eco-friendly because they are not wasting natural and human resources. After all, every operation is conducted electronically here. For sure, governments and enterprises are preferring paperless businesses to pay back to nature.
6. Versatile & Simple
It is not only simple to sign confidential documents electronically, but it is also seamless to check the validity of these signatures. Almost all e-signature software and services offer audit trials to examine the geniuses of these signatures. But yes, businesses should also run some audits and checks on their own.
By the way, another appealing reason to use e-signatures is their smooth communication. This method permits the business executives to sign deals and contracts in their own languages. Therefore, now, you can conveniently sign a document from your Japanese or Chinese business partner in his own language without any delay.
7. Enables Businesses & Teams to Work Remotely
Undoubtedly, the world has become a global village, and because of this globalization, different people and teams work from various remote locations. It is challenging for these remote teams to sign documents and parcel them through posts conventionally. So, it is very comfortable for remote businesses and groups to sign confidential and other documents electronically and send them through the mail.
8. Tracking & Management
It is challenging for business administrations to keep an eye on confidential documents when several directors or teammates need to sign them. However, e-signature services provide a comprehensive tracking system for businesses to check and ensure who has signed the document. Isn’t it a more beneficial way to track and manage confidential docs for companies?
9. Improves Client Experience
Businesses that usually need to get clients’ signs to carry on business operations prefer to go with e-signatures. This way of signing documents enables the clients to give their approval in real-time through electronic signatures. Indeed, clients can electronically sign confidential documents on any of their mobile or desktop devices anywhere, anytime.
10. Easy Integration & Errorless Operations
Businesses can seamlessly integrate the e-signature confidential documents with other apps and tools. They can’t only store these files on cloud platforms but can also connect them with payment apps, productivity gadgets, Google spreadsheets, etc. Many of e-signature service providers even come with built-in integration tools and services.
On the other hand, digital documents are considered error-free compared to paper documents. So, it is a reason to use e-signatures for confidential documents and sensitive data files other than conventional means.
This article presents one of the core reasons to use e-signatures for confidential documents for its readers. However, if you have more reasons or information to share, then you can comment below!