05 Oct Advantages of a digital signature – Crunchers, Accountants Edinburgh
Advantages of digital signing
As an Edinburgh Accountant, and a fan of cloud accounting, we are continually striving to find ways to automate workflow for our clients. If Crunchers, Accountants Edinburgh can implement processes that increase business efficiency for our clients, that means we all have more time to concentrate on those issues that really matter within the business. Electronic signature software offers small business a number of time and cost-saving benefits. If you’ve considered going paperless but haven’t yet made the plunge, here are 6 excellent reasons to start using digital signatures today. We currently use Docusign, and have found it great for digital signing of documents.
1. Get paid quicker
Digital signatures make it easy to close a sale on the spot, turn around contracts faster, and finalise documents that require signatures from multiple parties. Electronic signature software can also streamline the generation of invoices, cheques, legal agreements – in fact it streamlines any paperwork that is typically “held up” by ink signatures. The end result is quicker document processing and faster payments.
2. Direct and indirect cost savings
Switching to electronic signature software means you will spend less on paper, ink cartridges, printer maintenance, postage and courier costs. You’ll also save time managing paper documents, including tracking them down and filing them. Digital signing software automatically forwards a document from one signee to the next – a huge time saver – and it’s easy to track the status of an e-document as it makes the rounds.
3. Improve customer service
A recent marketing report showed that 65% of digital growth is from mobile use. That means a high proportion of your customers and clients do business online via their personal devices. The bottom line is that digital signing is what a growing number of your customers expect. Make it easy to sign and you’ll maintain customer loyalty and avoid losing sales because your business is behind the times.
4. Simple to implement
Digital signing software is easy to use and cost-effective. You can test drive different software with a free trial and when you’re ready to buy, expect to pay as little as £8 per month for a yearly basic plan. One of the benefits of electronic signature software is it’s designed to seamlessly integrate with other applications, so you can use it to sign different kinds of documents in various formats.
5. Enhanced security
Digitally signed contracts can be more secure than paper documents. Here’s why:
- Documents signed by digital signature are protected with a tamper-evident seal and the originator of a document is automatically notified when there’s been a change.
- An electronic record of the document’s lifecycle serves as evidence of who signed the document and when.
- Public Key Infrastructure (PKI) – the highest standard of encryption verification technology – is used to identify an individual by electronic signature and ensure the integrity of each signed document.
- E-documents dramatically reduce the risk of being stolen, damaged, intercepted, lost, destroyed, altered, or read by unwanted eyes.
6. Legally binding
In many parts of the world, legislation is in place to protect parties who have signed documents via electronic signature. If you work with international clients and customers, be sure to get familiar with the laws around electronic documents everywhere you do business to make sure your digitally signed documents will hold up in court.
Now that you know the benefits of digital signing, do you still need convincing? If you do, then please get in touch, and we will be happy to talk you through how it can be one way in which you can save time to spend on what matters within your business.
According to the Paperless Project, the average office worker uses 10,000 sheets of paper a year – a staggering number when you consider the global financial and environmental cost.
Why not save time, money, and trees by going digital?
Crunchers – Accountants Edinburgh
© Photo Credit Sebastien Wiertz