• Tweet

The digital age has made it possible to accomplish tasks more quickly than ever before. Perhaps one of the best examples of this speed is the implementation of electronic signatures. E-signatures have been growing in popularity because of their inherent ability to save time and paper. If your business is considering the use of electronic signatures, here is a quick look at some of the benefits and disadvantages.

E-Signature: The Pros

• Security and Authenticity – E-signatures are much more difficult to copy than traditional handwritten signatures because they are encrypted with data that captures the signer’s identity and the time of the signature. This makes it nearly impossible to forge or duplicate an e-signature. Electronic signatures are also legally binding, so in the case of a legal dispute, the document to which an e-signature is applied can be used as evidence in a court of law.

• Mobility – E-signatures can be applied to a digital document from practically anywhere, especially if you sign up with an online provider. Contracts that used to take weeks to execute are now finished in minutes.  

• Efficiency – Electronic signature software eliminates the need for paper. You don’t have to worry about record-keeping, however, because most electronic signature providers also provide e-filing services where every document is stored in an online storage cloud. This means any document can be accessed with just a few clicks of the mouse.

E-Signatures: The Cons

• Compared to the benefits, the disadvantages associated with electronic signature are minimal. However, there are two disadvantages worth noting. For one, some e-signature services can be pricey, and you will need to fork out extra cash for higher usage rates.

• The second issue is that accidents can happen, and if e-signatures are not encrypted properly, or if your account is mishandled, there could be validity issues. This, however, can be prevented if you and your staff choose a reliable service provider and are familiar with how to properly implement the tool. In short, evaluate your options and decide what works best for your particular business. Make sure to choose a secure, legally valid provider that can best match your company’s needs.