Practical Benefits That Electronic Signatures Offer for Business
2020 is marked as the beginning of the turning point in accelerating digital transformation. The manual process in managing documents has changed to digital. Valid proof of documents that usually use a wet signature has changed to an electronic signature for documents in the pdf or softcopy forms.
Many applications nowadays ease the customers to sign electronically. However, is this method safe? Transactions between employees and customers will be difficult if the company does not have a proper platform for signing documents with electronic signatures. Currently, there is one suitable platform for electronic signature technology solutions. What are the benefits of using electronic signatures for companies? Let us discuss the benefits of electronic signatures for companies here.
What is an Electronic Signature?
An e-signature is an electronic signature for documents in softcopy form. The function of this e-signature is the same as a signature in general, which a person uses to authenticate a document such as a contract, agreement, other official documents. What makes an electronic signature different from a wet signature is the medium. Electronic signatures are used for electronic media.
Benefits of Using an E-Signature
E-signature not only makes it easier for users to sign, but it also offers many benefits to the company. It can make your workflow operate automatically and improve customer experience, strengthen compliance, and eliminate costs associated with paper-based documents. Other benefits are as follows:
1. Proof of identity
An e-signature can give your company access to various identity verification and authentication options to ensure someone is the right person before accessing the document. There are many options for verifying identity, such as using government ID numbers, biometric verification, one-time passcode via SMS, OTP, shared secrets, knowledge-based authentication (KBA), certificate-based ID, etc.
2. Advanced security meets system compliance
Your company can protect documents and users from fraud. The security of using e-signature is guaranteed because of the digital signature encryption system. Its security is standardized, made the most stringent cloud security, and verified by third-party auditors.
3. Efficient process
Your transactions can be stored digitally. The workflow will also become more manageable and eliminate the risks of document errors, such as lost signatures and data.
4. Excellent experience
There are many ways to get a customer experience; one of them is by using an electronic signature. Your company will be ahead of other competitors because you offer an electronic signing system that is accessible anytime and anywhere.
Easily integrate e-signatures into your website, mobile apps, and core company systems. E-signature has an open REST API and SDK.
In fact, many applications offer electronic signing. However, companies definitely need a secure and internationally verified platform, right? An electronic signature solution is the right choice for your company because of its guaranteed security. Phintraco Technology is a subsidiary of Phintraco Group that provides an electronic signature solution.
Contact us at firstname.lastname@example.org to discover more information about electronic signatures.