We are living in a digital age where almost everything can be found online. Every day, people rely more on the Internet and their gadgets to do things for them.
Even transactions have transitioned to digital forms. Activities that could only have been done physically before, such as shopping and banking, can now be done with a few clicks of a button. Transactions are happening faster and more frequently online than they do in person. And with the rise of online transactions, comes the rise of electronic signatures, or e-signatures.
Ever since Section 7 of the United Kingdom’s Electronic Communications Act 2000 allowed the admissibility and legality of electronic signatures, more companies have adopted it. E-signatures are more secure, simpler, more convenient and cheaper than the traditional paper signing process.
More secure
E-signatures offer a higher level of security compared to the traditional paper signing process. The traditional process can easily lead to loss, theft or forgery. However, e-signatures contain traceable information on the signee of the document that can be used to locate the document or authenticate the signature. Paperless e-signatures help prevent fraudsters from sending malicious and false information and hackers from tampering with your files. Throughout the signing process, all transactions remain legal, transparent with a complete audit trail.
Simplicity and Convenience
E-signatures are simple and easy to use. With just a click of a button, a secure link will be sent to the recipient where they can sign using e-signature and complete the process.
Online transactions can happen between two negotiating parties even when they are located across multiple time zones. With e-signatures, such transactions would no longer require sending out physical copies of paperwork to sign. An email of the digital version of the document would suffice. The turnaround of this process is faster which gives businesses more flexibility in their approach to transactions, especially for time-sensitive business.
Lower Cost
E-signature is cheaper than the traditional paper signing process because there is no real material cost for things like paper supply, mailing supply and postage. All that is needed is an Internet device and the Internet. Because it is digital, your staff do not have to manually process everything (with the potential of introducing errors). They will not have to retype the data, print, ask for the signature, scan and then e-mail the contracts.
Go digital now
Make the shift to using e-signature today. The level of security, convenience, simplicity it offers far outweighs the benefits of traditional methods. With more and more technological advancements being introduced at a fast pace, you don’t want your business to get left behind.
Blue Car Technologies provides software solutions to professional services companies. We have more than 20 years of experience within the legal sector, offering law firms specialist IT advice and solutions. We make sure that the software solutions we provide are cutting edge, boosting productivity and improving your business’ services to your clients. Contact us today and start making your presence known in the digital world.
