How to Determine if E-Signature is Right for Your Organization

Although many businesses are comfortable using paper in the office, e-signatures are becoming more economically profitable, time and cost efficient, and secure than ever before. However, some business leaders still think that e-signatures wouldn’t work in their specific industry; different industries have different e-signature policies you need to consider before transitioning.

Here are a few questions you should ask yourself before switching from paper to e-signature in the office:

Do you work in a highly regulated industry?

If you work in a tightly regulated industry, such as finance, insurance, healthcare, science, or government, you’ll most likely need to find an “independent” e-signature provider. An “independent” e-signature provider offers customers full control of the documents, e-signatures, and transaction evidence of every service. Some e-signature businesses offer “dependent” e-signatures, which aren’t secure and can be risky for your business.

Remember, not all e-signature businesses are alike, so it’s incredibly important you do some research and decide which is the right e-signature solution.

Which type of e-signature would you need?

Electronic signatures are only as effective and secure as the business processes used to make them. If your company has high-level transactions, then you may need greater e-signature security and customer trust. E-signatures used for these high-value transactions have to be linked to the owner in order to guarantee security and validity in your business.

Many companies would strongly benefit from having e-signatures added to their customer trust and satisfaction. High quality e-signature providers can offer your company:

Authentication:

  • Authentication is when the signatory is linked to the document information.

Satisfaction:

  • When e-signatures ensure satisfaction (legally) about their whereabouts, this is a way for the signature to be publicly trusted.

Security:

  • Find an e-signature provider that’ll provide your company with robust anti-tamper controls so that you won’t have to worry about hacking or identity theft. Many e-signature services may offer stringent requirements for identity evidence, data protection, and signature controls, as well.

Are you trying to get work done faster and simpler?

If you’re trying to simplify your workload and get assignments done faster, an e-signature solution is probably just what you need. E-signatures reduce the time to obtain signatures and expedite the signing process in a seamless way. In addition, while the cost of shipping and signing is well over budget in the long-run, the cost is also significantly lost in time. Because it takes on average 5 days for a document to be sent, signed, and returned, your competitors with e-signature already have a significant advantage over you. Having delays in closing a deal with paper isn’t acceptable in any industry, which is why you may need e-signature.