A wet signature is a handwritten form of signature on any document. It is legally binding and requires the physical presence of multiple stakeholders. This is a centuries-old practice and is valid across the world. It is part of paper-driven documentation officially many businesses use them. Let us discuss the signing process chronologically with wet signatures and electronic signature software and their advantages.
The Process of Wet Signatures
To seek a signature on any agreement or contract, the organization must involve numerous people in the procedure. Accumulate requisite documents and use printers to produce more copies to send to all the parties involved in the signing process. The signatories can sign them immediately if they are available at the same point of contact. In case, if they are living in different locations, companies/individuals must circulate them physically through a courier service.
Challenges with Wet Signatures
In the paper-driven document management system, if multiple stakeholders and involved to accomplish the task, there will be several challenges.
Circulating documents among all the stakeholders is a time-consuming process. It may take days or weeks to reach the concerned persons and to get it back. The same can be accomplished in a few seconds or minutes if all the stakeholders agree to sign using an electronic signature tool.
Advantages of Electronic Signature Software Platforms
Electronic Signature Software is flexible to operate on-premises and on the cloud-. It provides a unique solution to manage documents online. Individuals can also create signatures using technology that is legally binding. Unlike the traditional approach, the software enables the creation of documents and sending them to multiple signatories on a single platform. The recipients can save their signatures on any device to sign documents online without printed copies. The software is user-friendly, and users can get trained easily on “how to sign documents electronically” through self-explanatory methods.
Document Automation in Organizations
Document Automation transforms the entire work atmosphere in any organization. Businesses will no longer require immense storehouses to stock paper. Further, by automating the document signing process, organizations can reduce the money spent on buying printers, scanners, and other infrastructure. Also, electronic signature software is flexible and affordable to companies, as it is available on a subscription model.
It simplifies the documentation process. and it is compatible with all devices, mobiles, laptops, and desktops. Users can upload documents from multiple sources like Google Drive, One Drive, and Personal documents without any geographical barriers. The software allows users to create and store valuable documents and share them with multiple stakeholders.
Transparency in Documentation
The entire document lifecycle is a transparent procedure. The electronic signature software is Long Term Validation enabled, and the whole document history is recorded. All the clients involved in the agreement will come to know about the document’s status. The feature allows the users to set expiry dates, and send reminders to signatories, in case of a delay in the signing process, the documents will be saved as templates for further usage.
The software keeps every stakeholder updated with a well-organized information flow. Chats, emails, and text messages ensure every individual is well-informed about the status of the document.
Common Platform
Business partners, clients, and stakeholders may live in varied geographical locations, but the software brings everyone under a single platform. It helps businesses meet strategic goals a much faster way than competitors. The document will remain in the virtual platform and can be accessed anytime, seek opinions, form new strategies, comment on the agreement, request amendments, and sign after a common agreement on the document.
Eco-friendly Initiative
Going paperless is an environmentally friendly initiative, it is your contribution to safeguarding nature. A noble cause and cutting-edge solutions to the business enhance operational activity and reduce costs as well. It reduces the working hours of the employees deployed for seeking wet signatures in the paper-driven documentation. The same time should be invested for some other productive purpose. A paperless environment avoids printing, scanning, and courier service.
Create Stress-Free Environment
The Electronic Signature platform helps you design a stress-free work environment. The documents created are well organized and stored in the repository with a dedicated index number. It would be an easy process to retrieve the documents. They can be accessed from any device with an internet connection.
A doctor need not wait for long hours to get the patient’s data when the patient’s data is stored in a well-organized central repository. It eases all patient-related billing, health reports, and more.
The education industry is another crucial sector that involves immense paperwork. Academic institutes can maintain student records, study materials, examination schedules, and more. All the data can be managed perfectly in the cloud platform without any errors.
The staffing industry also requires a lot of documentation seeking signatures from new recruits, employees, and other organizations. All these document management can be structured in a well-organized way through electronic signature software.
Forging is Impossible
The documents in the electronic signature software can be accessed only through two-step authentication. No other person will have access to the documents. When it comes to an electronic signature it is encrypted, it is impossible to forge it. Whereas there is a scope for tampering with the paper-driven documents. Wet signatures are easily forged, and adopting electronic signatures will reduce illegal activities drastically.
The legality of Electronic Signatures
Many industries adopted electronic signatures as they are legally binding. Around 150 countries recognized the signing of documents online. Numerous industries worldwide are slowly switching to digital platforms for document management. The adaption of the technology proved successful for many businesses. The reduction of processing time has become a growth factor and also enhanced operational efficiency in diverse sectors.
Conclusion
The electronic signature software provides a well-organized platform for staffing, manufacturing, the education industry, the healthcare industry, and more. Transforming to a digital ecosystem will save time and money. Employees’ crucial work hours will be spent for some other productive use.
