Organizations are rapidly making the digital migration.
Many are embracing technology to stay relevant in the growing and changing business world, while some adopt technology as a means to attract more clients and customers.
One of the steps many organizations are taking is the adoption of e-signature technology. E-signature solutions are helping all types of industries to leave their paper-pushing days behind and to take on new tech.
The Importance of Electronic Signing Tools
With e-signature technology, businesses and organizations can improve their performance, increase the productivity of their staff and improve customer experience, while reducing errors that are commonplace when using paper.
Signatures serve as a means to authenticate documents, and in digital materials, e-signatures apply. E-signatures solutions apply to websites, business applications, mobile apps, and core systems.
Before settling for an e-signature system, it is essential to do some research to determine what characteristics are necessary for the right e-signature solution.
Requirements for an ideal Electronic Signature Solution
Here are some must haves for you electronic signing tool.
1. Must Automate High Volume E-Signature Transactions.
Lots of business or organization processes need documentation. This documentation, if done by hand, is a time-consuming process.
And even if you cut on the time taken by hiring more employees, it increases the production costs while reducing profits.
In addition to this, processing high volumes of transactions by hand increases the chances of errors, which then compromises the operation of the business. Reduced errors is one way the use of technology is saving businesses.
Regardless of the type of business, if you want to process numerous forms at a time, you need to find a reliable e-signature solution. A suitable system should automate large volumes of system initiated e-signature processes.
Integrating the use of e-signatures eliminates the need for employees to prepare documents for manual verification. Furthermore, the ability of the e-signature solution to process hundreds or thousands of forms means that your clients get served efficiently.
Also, considering that these forms are processed online, it means that your business can get more new clients without the need to visit the offices physically. Having your employees freed from document preparation means that they can get utilized in other company growth objectives.
2. Must be easy to integrate.
Technological innovations should be easy to incorporate into a business to enable its smooth operation.
The same concept applies to an e-signature system. A perfect e-signature solution should be one that is easy to integrate into your company's policies.
The solution should effective tools and resources to enable ease of integration of the e-signatures into your current workflows.
The e-signature solution should also have an easy-to-understand user interface to provide customers a hassle-free signing experience.
A suitable interface will also ensure that your employees can adopt the system with little to no training.
3. Must be easy to scale
It is the goal of every business to grow to a certain level. However, this growth is sometimes unpredictable, sometimes being instant, while other times, it may lag.
Whatever the case, it is always wise to integrate technology that is useful for your current business needs.
That is to say, you need to choose an appropriate e-signature tool that will accomplish all your electronic signing tasks.
The solution you choose should be flexible enough to grow with the growth of your business.
A flexible e-signature solution should address your changing needs and support scalability across all your business' departments and branches.
It should offer you the choice to change how and where you wish to use the technology, and must integrate into any size of business.
4. Must-Have the Best User Experience.
Implementation of technology will help you increase the scale of your customers.
Considering that nowadays, most people carry out their activities online, you have to take your business digital to stay in contact with your customers.
To keep your customers interested in your business, you must make your business is always attractive to the customer.
A shopper is more likely to buy from a website or an app with an attractive user interface. The easier to use it is, the more customers it can attract.
You should, therefore, ensure that the e-signature solution you choose can provide fully customizable workflows
Also make sure to go for an appealing and intuitive user interface that allows customers a seamless signing experience.
5. Must be Compliant and Secure.
Security is always the priority in any online business transaction. A simple security breach can be the end of a conglomerate or a brand.
Therefore, organizations and businesses pay a lot of attention to the security of the data they process, especially information directly linked to the customer.
In this respect, the security of any data transferred online or that shared between the customer and a business should be accorded a high level of protection. Encryption is a must do if you handle private client data.
A suitable e-signature service should have measures in place to ensure that your documents are kept safe.
Here are the safety rules to abide by;
· Use the same e-signature technology for all signatures on a document. In the case of multiple signatories, use the same signature technology. A standard signature maintains the integrity of the information and the name, keeping the intent of the message intact.
· The e-signature service should capture the intent to sign at each signature. Specifying the approval of the information in the document by the interested party forms a piece of crucial evidence in the audit of an e-signature.
· Every e-signature should track and record all the steps in the signature process to ease tracking of the document. Users can then observe different states of a report in a transaction through the audit process.
· You should attach an electronic signature to the electronic record signed. Each name should comply with the laid out standards. The independent verification of the signature should not depend on the website or electric signature service for validation.
· A safe e-signature service should prove the integrity of the e-signature while establishing the association of the document using a document.
· It should provide Multi-Factorauthentication. These authentications would involve the use of an email password or a mobile device to access the password. Higher risk documents may require higher authentication levels.
Always insist on a signed record, which is a portable, tamper-evident, and independently verifiable, to preserve the integrity of the signed document.
E-signatures are integrated into online transactions and deals to ensure that these all processes are verified to provide proof in the case of a legal challenge.
Electronic signatures have helped to edge away physical signatures, which may be cumbersome to achieve, especially now that most transactions take place online.