Business tips

Five reasons e-signatures are no longer a choice but a necessity

e-signatures

While e-signing isn’t something new or revolutionary, only 1 in 5 businesses today close deals using paperless solutions. You may be thinking, “Yea, and I’m fine with being in that 4.” But consider that that single e-signature adopter of the five scores highest in sales performance.

Below you’ll find five business trends motivating e-signature adoption.

Customer expectations

Let’s start with the facts: e-signing increases your customer loyalty by 500%.

Requirements to print enormous amounts of paper, sign and scan, fax, or drop off them in person are even more frustrating than ever.

Most of your current target audience was already born with access to incredible technology. Your customers got used to the digital way of selling, buying, and of course signing.

Moreover, concerns about environmental issues make people dislike and refuse using paper. So, remain traditional at your own risk.

Awareness of an e-signature’s legal standing

81% of business users consider e-signatures to be the most essential tool for maintaining the legal and security integrity of their daily operations. These business sectors include banking, finance, pharmaceutical, healthcare and government. Their customers are intimately aware of the legal standing of e-signatures.

Both The Uniform Electronic Transactions Act (UETA) and The Electronic Signatures in Global and National Commerce Act (ESIGN Act) give electronic signatures the same legal standing as traditional wet ink signatures in the U.S. 

There may still be a few cases when an e-signature is refused. However, this mostly depends on the e-signature vendor and whether it meets the required legal standards. Read HERE for more on how to avoid having your e-signature legally denied.

Desire to remain competitive

Thirty-seven minutes vs. five days – this is the difference between an e-signature and the amount of time it takes to obtain signed documents. Customers don’t want to waste their time and will choose the easiest way to get their documents processed.

Your competitor may lag behind you in other areas. However, the more simple things are, the more significant and noticeable they are to customers.

People will choose the company with e-signing capabilities not only because of the product you sell, but because of the convenience and customer service.

Critical focus on compliance and security

There is nothing secure about posting a document to a customer and having them sign it and send it back via post or fax. You can’t track the document’s path or check whether the document was tampered with. However, it is possible with an e-signature solution. 

With SignNow’s Audit Trail and Document History you can track all changes made in a document. Moreover, these features ensure that documents containing e-signatures are technically and legally sound. With SignNow, you can store all processed files in a secure cloud.

And you may also deploy SignNow as an on-premises appliance to use as a completely private solution.

SignNow’s high-level of security for stored documents is ensured by its SOC 2 Type II certification. 

SignNow also provides you with a digital certificate as an additional level of protection – a method of authentication that allows individuals to verify if a document has been altered in any way. 

The platform is also compliant with HIPAA regulations for data privacy and security provisions in the safeguarding of sensitive medical information.

Mobile-first customers

80% of users used a mobile device to make standard internet searches in 2019, 40% of today’s online transactions are completed using a mobile device and 30% of all agreements are opened from a mobile web browser.

Buying and selling products and services using a smartphone is also growing in popularity. Thus, business correspondence and closing deals are literally taking place while on the go. An electronic signature is an indispensable tool not only for modern entrepreneurs, but anyone.  

Consider whether your e-signature vendor has a mobile app and learn more about managing your business from your smartphone HERE.

Today, e-signing is not so much about advanced technology, an outstanding experience or innovative advantages. It’s about a sound and reasonable approach to your business’ development.

Implement e-signatures and move your business forward with new technologies that open doors to new opportunities.

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