Since the lockdown has begun, companies have been in a dilemma about getting the documentation and paperwork done. With every minute passing by, things are getting out of hand for some; still, some companies have started replacing paper with online documentation and following online processes. But, despite this, some are still printing agreements and proposals for approval.
Accepting the digital process was easy; however, using electronic signatures or digital signatures in the business processes remains difficult. The hesitation to embrace them derives from uncertainty around the legality of e-signature, security, and document tampering concerns. Some think these solutions are costly and will be a hassle for them and their employees. People are still unaware that digital signatures are very easy, safe, authentic, and easy to implement in their current working styles.
Digital signatures have some advantages for an organization regardless of its size and type.
Here are a few cost-saving advantages companies get with adopting Digital Signatures, especially during the COVID-19 situation.
Paper, Printing, Transportation Costs
Digital signing has allowed organizations to take their processes online which saves them from printing the documents. Saving costs on paper, ink, printers, and the maintenance of the printers. When you print documents, they need to be sent to the signer through Fax or through the post, which incurs a lot of cost and time, because you don’t just have one document to sign there are plenty throughout the year. You can save all this time and money by getting these documents signed online with digital signatures. Lastly, even the storage and discarding of paper documents cost a lot, which can be avoided once you use electronic files and documents.
Quicker Transactions; Efficient Processes
Taking signatures on physical documents and sending them to the right person consumes a lot of time. Digital signing allows you to sign many documents with a single click and transfer the same to the receivers directly saving you time and effort.
Reduced Human Efforts
A lot of time, effort, and money go when you process physical documents. There is a lot of human effort put in printing, signing, transferring, and storing all these documents. If organizations want, they can automate their processes by adopting digital signatures. It not only saves human efforts and costs but ensures that work is done faster and without the documents being tampered.
It is easy to forge handwritten signatures and one can easily tamper the physical documents. This has many times lead to huge losses because of the frauds which later leads to huge legal fees. In comparison to the wet ink signatures, e-signatures are built on unique algorithms making it difficult to be forged. With the algorithms, it is easy to detect if the document has been tampered after signing, and if any evidence is found it invalidates the digital signature.
Easy Storage & Recovery
It is very important to file the papers in order to keep them safe and be easily retrieved. It also requires a lot of space and maintenance. All this involves a lot of cost for storing so many files and documents. But, with the e-documents, there is no hassle at all, easy to store, no efforts, and easy to retrieve anytime in the future. Even if you don’t remember where you stored, you can easily search for it in a few minutes.
Today no one has the patience to wait and wants to get things done instantly. Digital signing is like a boon in disguise for them as it allows the faster exchange of documents with no delays and no need to wait for external factors like courier or physical signatures. An efficient & faster online process enhances customer satisfaction.
Organizations can save a lot of money spent on physical signatures and the documentation processes by adopting digital signatures. Cygnature is a well-known blockchain-based digital signing solution that is smart, safe & secure. Now is the right time to adopt the right digital signing solution and keep your business running. To know how Cygnature will benefit you and the organization, especially during the Lockdown, you can email us at firstname.lastname@example.org