How an eSignature solution can support key industries
Updated: Feb 18, 2022
Businesses in all industries are constantly looking for ways to increase productivity, improve business processes and reduce their environmental impact. Many of these benefits can realised through the introduction of new digital technologies, in particular, the adoption of an eSignature solution. With this solution, businesses can digitise any paper agreement and spend less time on paperwork, and more time growing their business. As long as your business sends paperwork or contracts, an eSignature solution can help you on your journey to digital transformation. Although a digital signature solution will be beneficial for all industries, in this article we will discuss how an eSignature solution will benefit 5 key industries.
The legal industry relies on signatures and paperwork for many aspects of their daily work. Obviously, it is important that these documents are legally binding, but the industry can also benefit from reduced wait times when sending documents. All documents signed using an eSignature solution are legally irrefutable, and there are several different types of signatures to suit different use cases. After a digital document has been sent to the signer, the sender can track the progress and keep a traceable record of all digital transactions. This can help with staying compliant with specific regulations.
Similar to the legal industry, the real estate industry revolves around contracts, agreements and paperwork. This includes everything from signing the deeds to a property to signing rental agreements and inventory lists. With the ongoing real estate boom, property is selling faster than ever, and both buyers and sellers do not want to prolong the process with slow paperwork. An eSignature solution can make the entire process seamless and significantly faster. This has only become possible since 2020, when HM Land Registry modernised, and began accepting eSignatures for transfers of ownership, leases and mortgages.
Information and Communication
In the IT and telecommunications industry, the most common paperwork includes contracts to use software, especially SaaS applications, as well as contracts for Service Level Agreements. One of the key reasons the IT and telecommunications industry should adopt an eSignature solution, is to show they are digital progressive. Similarly, as the IT industry is moving more to remote services, an eSignature can aid in this process.
Finance and Insurance
The finance and insurance industries are built on a foundation of paperwork. With an eSignature solution, all this paperwork can become digital, making policies, claims and statements easier to manage. One of the key considerations for these businesses is ensuring that they meet compliance regulations. A comprehensive eSignature solution can meet all regulations, providing a secure method of dealing with sensitive information, and the signed documents can be stored in the cloud for access at any time. The adoption of an eSignature solution can also provide a better experience for customers, as they can complete, sign and return a document in a matter of minutes.
Construction and Engineering
The construction and engineering industries often run projects with tight deadlines and a strict schedule. Minor delays with paperwork can lead to significant problems and result in unnecessary costs. With the adoption of an eSignature solution, these delays will never be due to paperwork. With such a solution, after a document is sent, the sender can view when it is opened, and send a prompt to the signer, to ensure projects run on time, every time.
Looking for an eSignature solution?
Regardless of the industry that your business operates in, introducing an eSignature solution will transform the way that you deal with documents, contracts and paperwork. This can save your business significant time and money and is the first step to moving to a paper-less future.
As a DocuSign technology partner, we can provide the complete e-signature solution together with our market leading DMS integration solutions. Blue Car Technologies’ product portfolio is based on enhancing the function of iManage Work, OpenText eDocs, NetDocuments and Worldox Document Management System. Integrating DocuSign APIs to allow seamless electronic signatures within a document management environment.
Let’s find a way to improve your business! Contact us today.