Businesses facilitated digital initiatives to face the challenges brought by the onset of COVID-19 pandemic to customer- and employee-facing processes. One of these efforts is e-signatures.
E-signatures are becoming more widely accepted around the world, and the digital signature market is expected to grow from $4.0 billion in 2021 to $16.8 billion by 2026. As a result, its application in the sector and other areas is expanding.
Time-Saving
Paper-based systems are tedious, time-consuming and error-prone. Traditionally, you’d have to print, scan, and deliver documents to collect signatures.
Software like INHUBBER offers digital signature services so you can save time. For example, INHUBBER lets you sign files in any format like PDF, Excel, MP4, JPEG, Word and more. It also documents any contract change for transparency. Such software simplifies the time-consuming processes of physical document signing, storage and exchange since everything is stored digitally. On top of this, mobility constraints are out of the picture since all parties and businesses can quickly access and sign documents.
Another way that digital signature services save time is that it reduces the risk of lost documents. This will save you and your employees from unnecessary tasks such as recovering or retrieving important files when it could be avoided.
Lastly, It is easier to follow-up on the signers. You may check the status of the signature process virtually. Some digital signature services even allow sending of reminders to the signers.
Efficient
Digital signatures expedite document processing, allowing you and your employees to complete other tasks. For example, several signatures from a variety of people are required during a sales process. This administrative burden can hamper the sale and even cause the contract to be canceled entirely. If done manually using the traditional paper system, this lengthy procedure may lead to a loss of sale.
Since it’s a cloud-based system, you may even integrate it with your other existing systems to streamline data transfer. For instance, speed up disbursement and approval of salaries in your payroll software for accountants by connecting it with your digital signature tool.
Furthermore,your company saves money without having to allot budget for the following:
- Paper expenses – The traditional way of signing papers will require paper and even ink for printers.
- Shipping costs – If your client cannot visit your office, then you will have to shoulder the shipping of the document.
Secure and Legal
Frauds and theft in a company have been an alarming dilemma. According to the 2020 ACFE report to the nations, 43% of occupational fraud were detected by a tip. The data show the seriousness of the incidents, which accounts for the greater security of your business’ property.
As a company owner and partner, it is a tasking job to upgrade the cybersecurity of your data. Scams and cyber crimes often happen by duplicating identification access to acquire confidential files. This is why digital signature providers assure the legal validity of digital signatures – 2021
INHUBBER follows the eIDAS regulation that uniformly regulates the exchange of electronic signatures. It also includes a blockchain system which records information transactions and prevents it from hacking and cheating the system. To attain the total legality of your e-sign, you must fulfill the requirements of the said regulation.
Moreover, digital signatures include an encryption process which means, it can easily detect the signer and who attempts to use it illegally, especially in B2B transactions.
Client-centric
E-signatures can make you work remotely and reach your clients quickly. The importance of digital signature is also experienced in various industries. One of these is the real estate market
Signing contracts and agreements is a long process in this sector as there are a lot of considerations, terms, and leases to make.
Using INHUBBER makes the process convenient and secure when renting properties to private or corporate clients. If contracts are sent as a PDF and the tenant inserts his electronic signature as an image, there is a possibility for the court not to honor this as an evidence. INHUBBER provides a secure way of signing contracts digitally with its strong identification procedure which lessens the possibility of a reversal of the burden of proof.
Furthermore, by using digital signature software like INHUBBER, record-keeping will be made easier with the audit trail reducing the possibility of misplacing or losing files.
Sign up for betterment
Apart from the tangible economic impact to your company, digitizing signature processes also contribute to keeping the environment better with reduced paper use.
Spare your company from theft and reduce your workload. Because transactions and crimes are becoming more technologically driven, now is the time to upgrade your cyber security. Make your signature digital by utilizing a reputable digital signature software.
