Are you looking to speed up your signature business processes? In many SMEs there are general services such as that provided by the legal or the human resources department, in which many repetitive processes are carried out and for which the signing of documents is necessary. Therefore, the speeding up of the process is therefore an important issue. In this post we have a look into the benefits of esignatures for SMEs.
When thinking of the process of signing a contract with a client, several steps come to your mind: the contract is drawn up by the legal department or an external law firm, it is sent to the person in the company responsible for the signature, signs it at his earliest convenience, sends the original to the client who, in turn, reviews and signs it. This process may experience some delays since the hard copy is sent by ordinary mail, the signatory might be on holiday or much more besides. Thanks to esignature, these problems are solved. The benefits of esignatures for SMEs will be found below.
What are the benefits of esignature for SMEs?
Esignature is a leap in terms of the digital transformation of companies and provides benefits such as the following:
- Document and contracts integrity and security. One of essential aspects when signing contracts between companies is that the final version is approved and agreed by the parties. Esignature guarantees documents to be tamperproof thus providing great security.
- Environmental friendliness. The use of the esignature ensures respect for the environment, since it conserves paper and transportation logistics costs are reduced, among other aspects.
- Ensuring signatory identity authentication. One of the first things that is done when signing a document is to check the ID of the signatories to cross-check their identity. Using electronic signature, the verification is carried out automatically and online.
- Space saving. Paper records take up space in the office and electronic signatures help to reduce the burden of paper storage, freeing up space that would need to be used for any other business purposes.
- Productivity growth. The speeding up of processes when digitally signing documents represents an increase in productivity, which is a critical element for SMEs.
- Saving time. All the esignature process is carried out online, thus saving time that is spent on documents signing in the SME.
- Better Customer Service. Esignature makes the processes of signing contracts and other documents with clients faster so that they will be happier.
- Track esignature status. With the electronic signature you can track the signature to know who has signed the document and send reminders.
- Sign documents everywhere. Documents are signed on the go, from any device at any time.
- Legal validity. The electronic signature has full validity under law and if necessary, any digital signed document shall be admitted as evidence.
- Documents signed with Esignatures. One of the benefits of the esignature for SMEs is that it can be used for everyday documents, such as:
- Contracts of sale. Close contracts quicker with electronic signatures so that the SMEs can generate faster benefits.
- Labour contracts. Signature process involved in labour contracts in Human Resources Departments tend to be time-consuming. Time can be saved with electronic signature so that the employee signs the document with just a few clicks. The human resources department can also use esignatures for payroll or holiday requests.
- Price quotes. If you have to sign a quote from a provider, you can do it quickly so that you can receive the service as soon as possible.
- Confidentiality or non-disclosure agreements. Businesses have to exchange confidential information on many occasions, so it is necessary to sign an NDA. Esignature expedites procedures and allows the information to be sent earlier.
How does esignatures work?
Esignature workflow process is simple, and the user has to go through the following steps:
- The signatory receives an SMS or an email with the link where the document that need to be signed is.
- The signature is done entering the OTP received by SMS ,by clicking on a button or with biometric signature. Documents can be attached straight from that page.
It is a fast and completely safe process, which meets all the legal requirements for the document to be valid.
Therefore, the benefits of esignature for SMEs are numerous since your business gain a valuable edge over competitors thus increasing your efficiency.