Documentation is an ongoing process for Legal and Compliance firms holding a number of clients, and so are the signatures required on them. With clients being located across the globe, exchange of paperwork and signatures on them is done remotely and shared either via email or post. This makes the task cumbersome and causes an ample amount of delays which in such critical businesses, where the exchange of attorneys, legal agreements, contracts, and NDA take place becomes difficult to manage.
The legal industry must manage more documents as compared to any other industry therefore such delays cause a huge loss to them as well as to their clients.
According to sources, for the legal sector, the basic process of documentation and their delivery takes around 11.2 hours a week.
It has also been found that the time spent in a law/legal firm to search, store and manage documents physically is around 6 hours a week which causes a loss of 9.8% of the annual productivity of the firm.
With the implementation of e-signatures in the legal industry, these losses can be avoided to a greater extent.
As per the internal study conducted in a legal firm, the turnaround time can be reduced up to 80% with just opting for a digital signature technology as taking physical signatures are the main bottlenecks which consume time in such
Also, in the legal department, people rely much more on physical evidence to support the legality of the specific documents. Whereas nowadays, even physical signatures are prone to forgery and many legal and compliance firms are moving towards digitizing the signature process and protecting the documents from frauds with appropriate authenticity.
Having lots of digital signing solutions, people often get confused about choosing the best one for their firm. Well, if you are looking for a trustworthy electronic signing solution for your legal venture, we will help you out in making an informed decision on which one to opt for based on the below tips that your signing solution should offer in order to deal with the criticality of your industry.
Tips for choosing the apt e-sign solution
- Compatible with all formats: The solution should support PDFs, Word, Excel, Notepad, Spreadsheets, PowerPoint, etc.
- Compatible with your existing solution: The solution should be able to integrate with your existing software easily in order to avoid any chaos in your current working process.
- Compatible with all the devices: The e-signing solution should have the ability to sign via Web, Mobile or Tablet from anywhere, anytime.
- Simple to go with your workflow: It should be easy enough to implement on your business’s work pattern and should be easy to adapt by the entire organization, be it HR, IT, Operations or any other.
- Protects the privacy of the document: It should guarantee the safety and security at the highest level to the sender and to the recipient. It should also protect the authenticity of the sender and the document. Also, the solution must be either password protected or protected via any other technology like PKI or blockchain. The digital signature solution should guarantee you the evidence at every step of the signature process.
- Support the legal formats and standards: The solution should be based on the legal standards which are accepted across the globe. It should be designed as such to support all the rules and regulations by the government of all countries. It should also support the e-seals for bulk signing.
In addition to the above, the main point is that it should be cost-effective in terms of dealing with the software costs, its installation, cost of digital certification and its renewal as well as the cost of integrating it with the existing system and its smooth implementation.
Look for all the above tips to get a balanced e-sign solution that will solve all your legal business needs. Sign the legal documents speedily avoiding the chaos involved in the physical signing and documentation procedures.
Why Go for Cygnature Solution?
Companies must opt for Cygnature e-sign solution which is robust and designed specially to make your legal signing process smooth & hassle-free. It complies with a set of digital signature legislation and regulations which are accepted globally. Accelerate your legal business and minimize its risk by selecting Cygnature’s digital signing solution. Say “Hi” to our team now.