Usually, small and mid-sized businesses will have tight budgets and resources when compared to larger companies. To stay in par with well-established companies, SMEs should invest in cost-effective solutions that can enhance productivity, while reducing the cost.
Investing in an eSignature software is one of the cost-effective ways you have to get contracts signed more quickly. The software will enable your business to endorse contracts, approve business deals, and send agreements much faster than ever before.
Below we’ve discussed how an eSignature solution helps you reduce overhead costs and enhance your profit margins.
Faster Turnaround Time
In the traditional paper-based processes, each document needs to be printed, signed, and scanned in order to send to other stakeholders to get them signed.
This process takes more time and may result in a delayed process. Higher wait times can lead to the cancellation of thedeal, which could result in a massive loss to the company.
With a good signature software in-hand, you can get approvals from all parties involved in the agreement .
Regardless of the time or geographical location, every stakeholder with privileges can access and sign the documents easily and securely.
Saves Printing Costs of Papers
Every penny businesses save when utilizing an eSignature solution can be used to fund more productive tasks. The traditional processes require you to print bundles of documents and store them securely for future reference, which can take up lots of space.
Plus, the maintenance costs of the printers further increase the overall costs of this process. These printing and maintenance costs can go up to hundreds of dollars in the long-run.
However, an electronic solution enables you to share the documents electronically, saving you all those printing costs.
High Levels of Security
Business documents are comprised of sensitive business information which needs to be protected against theft and unauthorized access.
An eSignature solution ensures your business with security by providing traceable information of the activity of each document, including who viewed the document, who signed, and when.
It also allows your employees with privileges to access the data securely, whenever required.
The Bottom Line
Most companies are investing in technology solutions to automate these processes and improve overall productivity.
An advanced eSignature platform enables enterprises to digitize their paper documents, thereby allowing them to get approvals from all parties involved in the agreement digitally.
The electronic approval process don’t require handwritten signatures, stamps, or seals, which means no delay in the process and no further investment is required.
Once the documents are processed, the software securely stores all crucial information within the document such as the document’s approval date, time, and tracks all changes made to the document.
Choosing the best solution among the numerous available options in the market can be difficult. Be sure to research the pitfalls of your existing system and analyze which features you will need to run your system effectively.
Accordingly, compare all available options and purchase a solution that can enhance your enterprises productivity.