E-signatures: Why they will become integral to doing business

Most industries have comfortably adapted to the acceleration of digital changes. From cloud-based work platforms to automation tools and more robust identity management, technology is helping us to work better and be more secure.

Because the way we work has changed, it’s time for organisations to adopt new systems to help their staff be more productive outside of the traditional office building. With electronic signatures, you can do just that.

What is an electronic signature?

Electronic signatures — or e-signatures — are digital signatures that are used to verify or validate documents. Simply put, they are the digital version of an individual’s unique physical signature. While in the past this was deemed a security risk, new and robust e-signature platforms allow organisations to rest easy knowing the authenticity of e-signatures is never compromised.

What might surprise you is the sheer number of businesses that are now embracing e-signatures over their physical versions. A recent survey from DocuSign found that 95% of organisations are either using an e-signature solution, evaluating e-signature providers or planning to purchase a solution in the future. Current e-signature users rate security as the top business benefit, and for decision-makers, you’ll be happy to know that three in four respondents say the e-signature experience is easy.

3 reasons to encourage electronic signatures at your business

While many forward-thinking organisations have adopted electronic signatures because of how they streamline everyday tasks, more traditional businesses may be wary of swapping out legacy systems in favour of a new technology. But the changing nature of work means e-signatures are the only way to reduce the inherent wastefulness — both time and resources — of physical signatures.

Here are three reasons where e-signatures can benefits organisations:

1. Supporting hybrid work: Hybrid and remote work are now the rule, rather than the exception, for many Australian businesses. But technology remains a sticking point. If your remote teams don’t have a printer or scanner set-up at home, using e-signatures alleviates any bottlenecks that can occur in day-to-day tasks.
2. Environmentally friendly: Whether it’s part of your environmental, social and governance (ESG) policy, or you simply want to be less wasteful, accepting e-signatures vastly reduces the amount of paper you need to print.
3. Driving new efficiencies: With electronic signatures, documents are signed and sent in a matter of seconds. That streamlines tasks and increases productivity. No more time wasted on printing, signing, scanning, sending or mailing.

Top benefits of using e-signatures

According to the DocuSign survey, organisations that have been using e-signatures are already seeing a variety of benefits across their departments. In fact, many respondents say electronic signatures can help them reach high-level goals when implemented correctly.

Here are just a few of the benefits these businesses are seeing:

• Increased security – 40%
• Improved productivity – 39%
• Ability to do business faster – 37%
• Improved experiences for stakeholders – 35%
• Reduction in document-turnaround time – 35%
• Improved storage and retrieval of contracts – 35%
• Ability to work anywhere – 34%

It’s time to do away with the outdated requirement of physical signatures. By accepting e-signatures in your organisations, you’ll save time and money while empowering your people to be more productive. 

Find out more by reading DocuSign’s whitepaper, 10 Reasons to Adopt E-Signature.