Go Truly Paperless in 2021: Features and Benefits of eSigning Solutions
Is going paperless on your mind? Get rid of printing, signing, scanning and emailing paper documents with feature-rich modern eSigning solutions. Read more!
Businesses love paper and related supplies, and the result?
Paper, printers, writing tools, paperclips, shredders, staplers, folders, etc., cost approx. $400000 a year for an average company.
You must be thinking- businesses are adopting digital aggressively to stay ahead of the competition that the paper industry might soon disappear.
Unfortunately, it is not true.
Despite technology penetrating various business operations such as generating invoices or complying with tax rules and regulations, various other operations deserve attention.
Paper is known to obstruct critical business operations such as contract management, online transactions and approvals. Signing these paper documents cause problems such as-
- Access Issues
- Security risks
- Signature inconsistencies
- Storage costs
What is the Recourse?
The best solution is to reduce paper dependency and adopt automation to accelerate the signing process through a secure and legal mechanism. Therefore, it is important to make a digital signing solution a part of your modern IT strategy for smooth business workflow.
Cygnature is a digital and electronic signing solution that offers a secure signing experience to businesses. The companies can leverage it sitting in any part of the world.
Digital Signatures are Global & Legal
Electronic signature has become a major part of international business and commerce. Companies globally have made major deals going paperless causing digital signature market’s growth of USD 2.8 billion in 2020. And this is just the beginning!
One of the major reasons for such growth is the enactment of the national e-Signature legislation in the countries. The governing bodies across the countries guarantee the legality and validity of electronic contracts and online transactions. Check out the list of e-signature regulations across the globe.
Legality? Check! But is it User-Friendly?
Smartphones are an easy way to connect in this digital age. However, it is a struggle for the elderly. It is not the same as the e-Signing solution. The reason is there is no one way to sign the documents digitally. Such modern solutions have a wide variety of signature types to choose from. The user can choose the signing option he or she is most comfortable with.
How Secure are These Signatures?
What many businesses do not know is that the modern signing solution has multiple layers of protection to authenticate the data and protect it against forgery. A technology that adds another layer of security is blockchain.
By the end of 2024, it’s expected that corporations will spend $20 billion per year on blockchain technical services.
It comes with a “proof-of-work” concept which means transactions cannot be modified or removed. Also, Blockchain offers a certificate of completion once the signing is completed keeping full track of the signing process with parameters like device ID, IP address, browser, geo tags, latitude and longitude along with a timestamp. It powers the document with document hash, transaction hash & document ID that cannot be hacked.
Will the Solution Support Business Systems?
Modern digital signatures that are loaded with such features are a dream come true for businesses. However, everything is worthless if the solution does not fit in with your business ecosystem.
Cygnature’s developer-friendly APIs integrate with your business flows easily. That means the solution can connect with any web portal, application or website for efficient signing operations.
In short, businesses that wants to reduce paper consumption and save the environment from paper waste must definitely adopt a digital signing solution. It also enables firms to save costs, time and efforts. If your business is planning to adopt digital and electronic signatures, mail us today!