What is an Electronic Signatures?
According to the U.S Electronic Signatures in Global and National Commerce Act, an e-signature is an “electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by an individual with the intent to sign a record.”
An electronic signature or commonly known e-signature is used with the intention of signing a legal electronic record. An electronic signature or eSignature holds as much importance as a paper signature and it is no wrong to say that e-signatures are digitalized version of your document. In contrast with the paper signature, it is way more convenient, efficient and easier and saves not only your time but also money by avoiding the need to mail, scan, sign or print your document.
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Increasing demand for e-signatures:
The rapid increase in the popularity of the electronic signatures can easily be predicted by its ease.
It has made people sign a document anywhere, anytime by just the click of a mouse now they can have the trace of their handwriting using a finger. And with all the COVID’19 measures, work from home, and social distancing has increased the demand for e-signatures with the speed of light. Businesses are on the go, but with the absence of all the equipment, they have realized that there could be no better option than an electronic signature.
Benefits of Esignature:
Electronic signatures have many benefits that are making it more efficient and increasing its popularity more than ever. Following are the few:
- Competence and productivity:
Electronic signature has given employs more time so that they can concentrate on more of the valuable task rather than wasting their time on copying, scanning, faxing or travelling of a document from one place to another. Thus increase the productivity and efficiency of a workplace.
- Saves your money:
Many businessmen go for electronic signature because it surely reduces the costs. For an individual cost may be less but an organization that has to operate on a large scale face significant cost and e-signatures helps them to save money on pen and paper, copy wear and tear, electricity while scanning and copying a document etc.
- Speed:
To collect traditional signature is one heck of a task. It’s a relatively longer task that takes a lot of time from start to finish. E-signature has cut all those steps and now you can grab your signature on the one go.
- Environment friendly:
With the ongoing debate on the deforestation, E- signature has expanded its help in this arena as well. And this is no more hidden that companies who go for the eco-friendly environment are more preferable than their competitors. So electronic signatures help you in your business without even the slightest of doubt.
- Efficiency:
To collect a traditional signature is somewhat a lengthy and complicated process which involves several people and steps from signing to delivering the signature. E-signature has improved efficiency as they are one click away.