5 Industries that can Benefit Most from Electronic Signatures

With more and more of the way we live and work moving online, businesses need to re-examine their processes. Are they fit for this new digital age? In 10 years from now will they still work for your business or be holding you back? If you’re still relying on paper and pen to get the job done, chances are you’ll soon find that your business will be playing catch up.

The best way to prepare for your digital future? Adopting electronic signatures and digital document management across your business. Since their introduction in 2000, e-signatures have grown in popularity- and are now used in almost every sector, both here in the UK and across the globe.

E-Signatures for any Industry

With their easy adoption and plethora of benefits, it’s easy to see why e-signature uptake is on the rise. Indeed, there’s not just one type of business suited to e-signature adoption. If you fill in paperwork on a regular or semi-regular basis, then an e-signature is right for you. No matter what industry your business is based in, this new technology can help you create new digital processes that truly work for your employees and business- and will stand the test of time as digital technologies continue to expand and grow.

So, no matter what sector you work in, adopting an e-signature should be at the top of your list. Still not convinced? Here’s the top 5 industries that could benefit most from an electronic signature. Does your sector make the list?

Finance

Anyone that works in finance will know just how much paperwork can be involved. Whilst you’ll always have documents to deal with, e-signatures can eliminate the paper part- and can help you keep everything digital. But how can an e-signature benefit the financial sector?

• Secure Signing

The financial sector deals with particularly sensitive financial information. Ensuring this is always kept secure is vital. E-Signatures offer a secure way of signing documents, whilst also recording essential information such as IP address, date and time.

• Digital Records

Having a traceable and transparent audit trail is vital in the financial sector. By keeping documents digital, you’ll have a tamper-proof record that can be backed up in the Cloud to prevent loss or damage. Digital documents are also easier to store, as no physical space is needed, and they can be easily retrieved at any time with a search function.

• Stay compliant

Financial institutions are expected to remain strictly compliant with regulations such as Know Your Customer/Customer Due Diligence. E-signatures can also be used in this part of the process, coming in handy when you’re collecting personal information from clients. Some providers also offer a built-in ID checker, which can help you verify your clients’ identity using digital technology.

Sales

From first customer contact to signing on the dotted line, the sales process involves paperwork from start to finish. This is where an electronic signature can make your life easier, allowing you to increase the speed and efficiency of your sales processes. That’s not all e-signatures can do for you, they also enable:

• Better tracking

Any enquiries or contact with your business could be a potential lead; you don’t want to let sales opportunities slip through the cracks. Using connectors to join your CRM to your digital documents allows you to update your CRM automatically, so you’re always kept up to date with the progress of transactions.

• Responsive Service

Digital documents and easy e-signing allows you to respond to customers quickly, ensuring a fast turnaround time to all enquiries or requests. Create, e-sign and send documents in just a few clicks, so you can get your contracts out to customers quickly and efficiently.

• Improve Customer Experience

For any business, providing an excellent customer experience is essential. It creates positive word-of-mouth around your business and keeps customers coming back to you. E-Signatures make it easy for your customers to sign documents, so there’s no more waiting around for paperwork in the post or hassle with printing and scanning documents.

Legal

Signatures are  the lifeblood of the legal sector; they indicate someone’s agreement to the contents of the document and are legally binding. But as everything moves online, why shouldn’t your signature? The legal sector has a lot to gain by embracing e-signatures and digital documents.

• Legally Binding

Although some people can be nervous about making the switch from ink to digital, digital signatures are legally binding in the UK. This was first established by the Electronic Communication Act in 2000 and then further confirmed by the law commission in recent years. Rest assured that you can use a digital signature on legal documents – it has the same meaning as a traditional ‘wet’ signature.

• Save Money

An electronic signature can help save your legal organisation on paper expenses, as well as other hidden costs associated with pen and paper signatures. Large or small, savings made on paper, printing, stationery, and storage can all add up. If your business uses a lot of paper, an e-signature could result in some serious savings, whilst also reducing waste and your company’s carbon footprint.

• Digital Paper Trail

Signing documents is part and parcel of the law sector, as is keeping a traceable record of these transactions. Adopting digital documents makes organising your ‘paper’ trail a lot easier. Say goodbye to folders and filing cabinets; you can simply save your documents digitally both on your hardware and in the Cloud, providing a backup in case anything ever happens to your device.

Real-Estate

Whether you’re buying, selling, or renting property, there’s always paperwork involved. Whether that’s the deed to a house, a lease or even a moving in checklist, there are plenty of documents to sign in the property industry. Implementing an e-signature can bring a number of benefits to your business, including:

• Accepted by HM Land Registry

Until 2020, HM Land Registry did not accept electronic signatures on documents such as transfers of ownership of property, leases and mortgages- and was one of the few places in the UK to reject them. Thankfully, they now accept them on these documents, making e-signatures valid in the property industry.

• Quick Signing

Things in the housing market can move quickly; houses and apartments are always coming and going from the property market. E-signatures make it easy for you and your prospective buyer or renter to sign documents quickly, ensuring you can keep up in a busy and competitive market.

• Accessible Technology

Many people can be fazed by new technology, worrying that it might make things more complicated. Whilst this can sometimes be the case, e-signatures truly do make the signing process easier, and are accessible to use for people at all levels of digital maturity; all your clients need is an email address.

Insurance

Those of you that work in the insurance industry will know the amount of paperwork that needs processing on a daily basis, whether that’s insurance policy applications or claims processing. With an e-signature on the case, managing documents becomes a lot easier and more efficient.

• Digital documents

Keeping documents digital ultimately allows your business to improve document workflow and eliminate inefficient paperwork. With the ability to send and stored documents electronically, our digital solutions help you reduce manual printing, scanning or faxing.

• Improve Customer Experience

For many of your clients, filing an insurance claim will be a stressful experience. You’ll therefore want to make it as easy as possible for them to submit any of the required paperwork. With a digital signature on the case, your clients will be able to complete, sign and return documents in just a few clicks.

• Easy Storage

If you’re dealing with a lot of paperwork on a day-to-day basis, your filing cabinets will fill up quickly. Keeping your documents electronic helps you free up physical office space and means that digital documents can be organised and easily found

5 Business Benefits of E-Signatures for Any Industry

• Increase Efficiency

Switching to an electronic signature and digital documents can increase your operational efficiency, eliminating outdated paper-based processes that slow down your work and can result in errors.

• Go Green

Eliminating paper, as well as energy used by printers and scanners, will help to reduce your businesses carbon footprint, and be a key step on your journey towards operating more sustainably.

• Save Money

Paper, printing, and postage may seem like small costs to your business but they can all add up. Adopting an electronic signature can help to eliminate these costs, freeing up money to spend elsewhere on your business.

• Improve Customer Experience

Simplifying your document processes by keeping them digital empowers your team to provide a better customer experience, allowing your business to impress with its efficiency, responsiveness, and quick turnaround time.

• Futureproof Your Business

As paper-based processes become increasingly outdated, your business needs to futureproof its operations with digital technology. This will allow you to stay competitive in an increasingly digital market.

Try E-sign Today

If your sector is looking for a reliable and user-friendly electronic signature, look no further than E-Sign. With our secure document platform and accessible e-signature technology, your business will have no trouble adopting time and money-saving digital processes. Still not sure? Try out E-Sign for free with our 14-day free trial.

E-Sign… So Much More than an E-Signature

Our name may be E-Sign, but we’re so much more than just an electronic signature. With a complete digital toolbox at your disposal, you’ll have everything your business needs to adopt digital ways of working and ditch inefficient paper-based processes altogether. Along with our electronic signature, you’ll also have access to:

Web Forms

Allow customers to fill in and e-sign documents on your website, app or via email, collecting all the information you require in an easy and signable format.

ID Checker

With our embedded ID Checker, you can verify the identity of your e-signers to minimise the risk of fraud and ensure your transactions are secure.

Personalised Email

Ensure strong, uniformed branding across all your communications and send documents for e-signature in a personalised email

Verification Tools

Use E-Sign’s verification tools, anytime, anywhere to ensure your transactions are secure and fully verified.

API Processing

Integrate E-Sign’s API e-signature software into your website today for a smoother digital experience for you and your customers.

E-Sign is a leading provider of digital transaction management solutions, supplying professional services including Electronic Signatures, Web Forms, ID Checker, Verification Tools, Personalised Emails, API and Payment Processing to businesses of all sizes across the UK.

To find out more about our E-Sign solutions and how they could transform your business, get in touch with us today.