An introduction to e-signatures
E-signing is a relatively new phenomenon in Sweden and internationally. It has been around for a few years, but has until recently been technically complicated and not very user-friendly.
This has had the effect that many companies have analogue holes in their business processes. There are fantastic IT-systems to produce documents in need to be signed. Until today, it has often meant printing the document on paper, send it to the parties, signing it, and then sending it back.
These paper documents must then be scanned and often text-interpreted to finally re-enter the digital process.
It doesn’t have to be like that anymore!
Now everyone has the ability to sign electronically.
By making the whole process electronic, more agreements are signed faster. This is achieved by optimizing the flow and minimizing the number of steps that can halt the process.
It is easy to include validation of fields in the documents to be signed, thus reducing the risk of errors or missing information and need to correct or redo contracts.
Some of the benefits you get are:
- higher conversion
- higher security
- improved customer experience
- positive environmental impact
- cost savings
E-signatures have significantly higher security than traditional signatures. Depending on the method selected, additional information such as date, time, IP address, and type of device is stored with each signature. The signatures and the contents of a documents can be verified at a later stage.
By having a digital process for signing a contract ensures that the correct and complete contract is signed. With templates and set rules for how contracts can be modified it’s easier to keep everything together and follow your internal rules.
Improved customer experience
By incorporating electronic signatures into different flows, the customer experience is improved as it simplifies the process of signing contracts.
The steps where most contacts get stuck are precisely those eliminated when going digital – I don’t have a printer, I’m out of ink, I have no envelope, I forgot the envelope on the kitchen table.
Positive environmental impact
It is of course smart from an eco-perspective to sign documents electronically. Two aspects can be particularly highlighted:
- Reduced consumption of paper and other supplies related to printing
- Reduced transport / shipping