Advantages of Digital Signing for Business
October 20, 2016
Digital signatures have become increasingly popular in recent years. The number of countries around the world endorsing the legal validity of digital signing is rapidly growing, enabling businesses to forego the traditional “wet” signature, and further optimise their workflow and management processes.
From sending a quote for approval to finalising a client contract or agreement, digital signing can be highly beneficial in the business environment. Here are just some of the ways that implementing digital signing can benefit your business:
Save time
One of the most fundamental objectives of any business is achieving maximum efficiency. Digital signing allows documents to be delivered, reviewed and authenticated within a matter of minutes, even in situations involving multiple parties. Traditionally, the same document would be mailed or couriered to each recipient for signature; a process which could take days or even weeks. With digital signing software, smart phone and tablet apps allow recipients to electronically authenticate documents anywhere, at any time – which means no more lengthy delays waiting for a client to return from an interstate or overseas business trip.
Requesting multiple parties to sign a document is easier than ever. Documents can be digitally signed by multiple recipients simultaneously, or a signing order can be set which will automatically forward the document to the next signer in the workflow. Once the document has been authenticated by all parties, each signer automatically receives a copy of the executed document, eliminating the time and resources required to manually produce and disseminate final copies.
Save resources – and money
Adopting a paperless solution immediately reduces your environmental impact, an important benefit for entrepreneurs seeking more sustainable business practices. A reduction in printed materials will save more than just paper; there can be significant savings in the cost of office consumables, equipment maintenance and postage too.
Safeguard documents with digital encryption
Digital signing provides security benefits not offered by traditional paper signing. The digital signing software you use to create the signature will ensure it is encrypted, which protects your entire document from tampering.
Encryption leaves a data trail which makes it possible to trace and expose any tampering or forgeries. Additionally, if a signee denies having authenticated your document, the signature can be analysed to confirm its origin.
Track the status of your document in real time
With digital signing software, lost mail becomes a thing of the past. Business owners will never have to worry about a contract or agreement getting lost in the post, as each step of the digital signing process is automatically captured in a detailed audit trail.
Digital signing software not only confirms delivery to the recipient, it also provides a complete history of every activity including viewing, printing, signing or declining to sign a document. Some service providers also include options to send automatic follow up reminder emails to ensure the timely completion and return of documents.
We’re using it too
At McGarry Partners, we’ve recently implemented the use of DocuSign and have already seen improved performance in our business processes. From engaging new clients, to expediting lodgement of tax returns, digital signing has instantly become an integral part of our business. In the coming months, our clients can expect to see more of DocuSign as we continue to streamline our processes and focus on what we do best – helping you grow and protect your wealth.
Need more information?
Whether you’re a sole trader, a local business or an international enterprise, there are a range of digital signing software products and packages to suit your needs. We can help you find the right product and understand the implementation process. Please contact us if you would like to learn more about digital signing software and the associated benefits for your business.