Why Are Some Businesses Still Saying “No Thanks” to E-Sign?
Electronic Signature Software
Electronic-signature technology helps organizations streamline their workflows, reduce paper waste, and provide better customer service. Protected by sophisticated security measures and accessible from anywhere using desktop or mobile devices, e-documents can be received, reviewed and signed on the go.
This combination of security and convenience means business gets done faster and at safe distances.
E-signing is fast, convenient, secure and sustainable. So, why are some companies still saying “no,” to e-sign? The three most common concerns business owners and organization administrators have about e-signing technology are cost, ease of adoption and compliance.
In this article, we’ll take a closer look at these concerns and why they shouldn’t stop your organization from realizing the benefits of e-signatures.
E-signature technology costs too much.
Whenever a business contemplates making a change, they can’t afford to overlook the costs. Someone has to keep an eye on the budget. However, before you reject e-sign as a solution, compare the cost per transaction of e-signature solutions to your current documentation costs. You may be in for a surprise.
Physically handling paperwork is expensive, requiring investments in supplies, equipment, and labor. Additionally, for documents that aren’t hand-delivered, delivery costs can add up fast. For example, it costs between $0.01 and $0.15 to print pages using an owned or leased printer and sending a document via overnight delivery costs between $26 and $32.
When you switch to e-sign, many of these costs are eliminated. You can also choose an e-signature program that suits your organization’s unique needs--whether you process a high volume of transactions or handle a few essential documents each month. Look for an e-sign solution that offers you per transaction savings over your current paper and pen processes.
E-signature technology is too complicated and won’t get used.
Is there anything more frustrating than investing time and effort to select and implement a new tool only for it to be ignored by the people who it is supposed to benefit? User adoption is a critical component of any organizational change. But onboarding concerns shouldn’t hold you back from making the change to e-signatures.
Because the use cases and users are so varied, e-signature software is designed to be intuitive and user-friendly. Many of your staff members are already familiar with the technology from a consumer’s perspective. They may have acknowledged a healthcare disclosure document, signed for a package or even applied for a home loan using an electronic signature.
Plus, your e-signature solutions provider will offer accessible training and support to help bring your staff up to speed quickly. And, you can ask for a demo to take the application for a test drive before you commit.
Businesses in our industry aren’t allowed to use e-signatures.
E-signature technology’s built-in encryption, access control, audit tools and other document security features improve document security and risk management. This makes e-signatures an ideal solution for highly regulated industries.
But, some types of documents such as estate planning and family law documents, hazardous transport documentation and certain consumer notices that cannot be e-signed. However, the list of exclusions is very short in comparison to the list of transactions that can be e-signed.
In most instances, US and state laws provide that e-signatures carry the same weight as physical or “wet” signatures as long as specific criteria are met. E-signature software is designed to automatically ensure that each of these requirements is met so users can be confident that their transactions are valid.
In the United States, with limited exceptions, an e-signature is valid and enforceable if:
Each party to the transaction has consented to do business electronically
The person must have an “intent to sign” the document when affixing their e-signature
Each signer must receive a fully executed copy of the agreement that they can download and retain
The signature must be associated with the document’s electronic record
Records of the e-transaction and the e-signatures must be retained and capable of being produced for review
Organizations that cannot use e-signatures for all their transactions can still benefit from adopting e-signatures. They’ll reduce their document production, processing and storage costs by employing e-sign when permitted and focusing their administrative resources on those documents that require physical documentation.
The world is going digital, and e-signature technology can help your organization make the transition while saving time and money. Ready to see for yourself? Request your free demo today!
No-nonsense pricing. No surprises.
We believe in honest, transparent pricing. With ReadySign, you pay one fixed cost for unlimited users, unlimited documents and all of our features. Simple.