Digital is a new way forward in terms of technology and business. With the world moving faster, there is a need for quicker processes and smoother bureaucracy. What this has led to is the development of the e signature.

The company you work for might have taken up the offer of availing of digital signature providers, but without knowing what it is, these services would be of no use to you or your colleagues. By making online documentation and approvals quicker, faster, and smoother, e signatures have paved the way to rapid business procedures and made it easier for companies to operate remotely, without the need for the physical presence of the person to get their signature.

What are e signatures?

An electronic signature or e signature is a legally binding signature that can be used on documents. It has the same legality and validity as a handwritten signature and thus makes it easy to obtain approvals and licenses without the physical presence of the individual requiring them.

The E signature is unique to the individual as only they can use it, due to a unique encryption code for each signature. This also makes them practically unforgettable and more valid than a handwritten signature.

Most companies and business organizations use e signatures to get quicker approvals and documentation signed. They are recognized as legally acceptable instead of a handwritten signature in most countries and states of the world.

Are e signatures legal? 

E signatures are just as valid as the physical signature given on paper, as they are the digital thumbprint of the individual. It can only be accessed by the person it is assigned to, cannot be manipulated or forged, and contain a piece of encryption unique to the sign holder. E signatures are thus more trust-able and verifiable than physical signs and have made running a business and signing documents easy for all people in a company or business institution.

Benefits of e signatures 

Many companies are advertising online digital signature services, and it is no wonder that e signatures have caught on as a popular alternative to handwritten signatures. There is a multitude of other reasons as to why e signatures carry more benefits than normal signatures. A few of these are:

  • Legality 

E signatures are just as legal as physical signatures and can be used as a valid documentation method for most businesses and organizations. Most industrialized nations of the world use and allow e signatures as substitutes for handwritten signatures.

  • Efficient 

An e signature reduces the need for all the executives or witnesses in a business procedure or legal proceeding to be present at the time of signing. Even if the witnesses or individuals are in different locations, with the help of e signatures they can be considered as a witness to the procedure or business deal.

  • Cost-effective

Most companies who are looking to downsize on the money spent on paper and ink, or those who are trying to be environmentally conscious, will find it much easier to do so by using e signatures. The money that needs to be spent on postage and couriers will also be cut down.

E signatures will overtake physical signatures soon. With all the benefits they have, their legally binding nature, and the fact that they are more secure than handwritten signatures, they are practically the best method for companies to take care of business even when the attendees are not in the same room or country. Time-consuming admin work is reduced, legal proceedings go quicker, and they can be used anywhere: what’s to wait for?