E-Signature: A Boon Or A Curse?

With technologies evolving at a rapid pace there is a constant need for new features to be introduced into the system. This resulted in the development of a concept called the e-signature.
e-signature

Key aspects discussed in this article are-

  • What is an e-signature?
  • Difference Between User Identification and Authentication
  • Benefits of e-Signature For Your Organization

 Let’s get started!

What is an e-signature?

An electronic signature is can be easily used for documents, contracts, and other forms.

E-signature is used in place of a handwritten signature. The signature is valid if it abides by all the norms and regulations of the documents and is mentioned for e-signature.

Often, people tend to get confused among digital and electronic signatures. As a matter of fact, there is a difference between the two. Most e-signatures are designed with a cryptographic mechanism for smooth implementation.

The main purpose of an e-signature is to authenticate a document and save time. It is a uniquely identifiable mark that can be easily utilized without the use of pen and paper.

There are a few security concerns but e-signatures are predominantly used for private affairs, business transactions, legal, and official government documents.

Most individuals misinterpret user identification and authentication to be the one and the same.

But, the truth is that they are different from one another.

Difference Between User Identification and Authentication

  • User Identification

This is the process of executing and marking an identity. It is the primary step that notifies who you are associating. This happens when both entities are working together for the first time.

For instance, when you seek admission in a school, you have to share your identity proof and other details.

User identification is a similar concept. When you interact with a firm for the first time digital identity verification is mandatory, which will provide you a unique user identification.

  • User Authentication

Once your user identity is confirmed, you will be provided with specific credentials to facilitate future business activities. The process where your details are verified before you gain access to your system is known as user authentication.

Modern-age businesses prefer digitally encrypted e-signatures as they are more authentic and secure. Enterprises are adopting eco-friendly solutions to make business activities smoother and faster with e-documents.

They no longer rely on physical paperwork and need authentic e-signature to verify important documents.

The simplest way to reap the benefits of e-signature is to integrate it with your CRM.

Several modern CRM software provides you add-on features to enhance your business operations- a custom module that makes your job easier and a lot convenient. Besides, there are several advantages of e-signature.

Benefits of e-Signature For Your Organization

  • Reduced Costs

The traditional paper document is a bit time-consuming as compared to the trending e-signature flow. You not only save a lot of paper but also save shipping, printing, and packaging costs.

You don’t have to spend money on speed-post, courier, or travel to the client’s place. An E-Signature Add-on in CRM can help you to authenticate documents and send them digitally to the concerned person.

  • Improved Customer Experience

Your organization’s success primarily depends on customer satisfaction. A decline in the number of satisfied customers has a direct impact on your sales and revenue.

Customer interaction can help you to enhance customer experience. E-signatures can help you to send verified emails and messages to your customers. This will enhance their overall customer experience.

You no longer have to be clueless about whether your customers have received the mails or not. E-signature can help you confirm quick and right delivery.

  • Sync and Security

When you speed-post or courier a document, there’s always an unpleasant thought of losing it. You have to constantly track the delivery or contact the receiver to approve the delivery.

With the advent of digital documents, you no longer have to worry about any of these. Besides, e-Signatures ensure that the receiver gets a secured document based on strong encryption algorithms.

Third-party has negligible access to your document.

A dependable e-Signature module offers you significant control over workflow. For instance, you can track changes made in the document and ensure that no one has tampered it.

  • Accelerated Productivity

The moment you start using an electronic signature, your business gains momentum. It simplifies important and complex business tasks, which can help close more lucrative deals rapidly.

You can skip mundane business activities and automate the document flow. It allows you to view regularly used documents easily, authenticate documents at a faster pace with e-Signature.

There is no need to save documents since all details get saved automatically. Besides, you can save a document that is regularly referred to as a template. This template can be referred to as and when needed in the future.

It is easy to make edits in the template to suffice the changing needs of your business.

  • A Centralized System

Imagine hunting down drawers of drawers in search of a single document. Well, you no longer have to waste valuable time searching for documents.

Simply type the title or the designated person’s name and the document will be right in front of your eyes. This system also restricts the duplicity of documents and keeps all your documents organized.

In case you have to share any document with top-level management, then you can quickly do so within a few clicks.

  • Better Collaboration

An official or important document requires approval from several business partners or associates. It is a slow process to send a single document to each of them and get it signed manually.

Instead, you can simply share the document digitally and acquire all their e-Signatures within a few minutes. It helps you to collaborate with your team faster and get work done.

  • Better Reach

Often, lack of accessibility restricts the growth of your business. Failure to reach entities across the globe can stunt your business opportunities. Instead, adopt a digital solution to widen your reach.

Use e-Signature and e-documents to work with clients and businesses on the other side of the world.

Wrapping Up

This is the right time to switch to a digital business realm. This transformation can bring you more business and reach new heights. E-Signature is more of a boon to this digital business.

Implement CRM and plug-in with the right features to ensure improved business productivity.

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