Being a small or a medium-sized business owner, you would often be in charge of various responsibilities across important departments. A business owner is responsible for leading marketing, sales, HR, finance, logistics, law, and various other departments all at once.
There are heaps of paper-based documents that keep the business moving and there are also multiple signatures required on a daily basis on these documents. You are likely to deal with sales contracts and customer forms, non-disclosure forms, vendor and supplier agreements, and much more.
The use of a credible electronic signature service can offer an improved way to obtain signature authorizations and that too remotely. You can effectively reduce all risks, save resources, and create a much better customer experience when recording e-signatures on the business agreements.
Irrespective of whether you are looking for a good start or just for additional use cases to improve the business efficiency, some of the powerful ways in which e-signatures online can be used are mentioned below.
10 Common Use Cases that Increase Relevance of Electronic Signatures
1. Sales Agreements
Sales agreements play an important role for almost any company. The electronic signature service can execute the sales contracts online and close deals quickly within a few hours and minutes. There is no need to wait for days altogether when the agreements require multiple signatures.
You can easily maintain absolute visibility when the sales contracts are in the signing process. This enables multiple sales processes to become integrated and automated with some of the best CRM systems
2. Vendor and Supplier Contracts
Any business that is growing is dependent on the relationships with various suppliers and vendors. Businesses often spend a lot of time and effort managing relationships and coordinating with procurement activities.
The business owners effectively move from paper-driven processes to digital workflows for improving procurement. This is a change that can accelerate the procurement to payment process while also reducing the risks created by the costs and errors commonly linked with paper document processing. Compliance with company purchasing rules becomes easy.
3. Change Agreements
When it comes to making project-based businesses move forward, a form of change becomes constant. Even a customer can make minor changes or take a sudden turn on all that was agreed in the past.
The ability to add electronic signatures to word documents makes the entire process simple and also allows a company to send the change order soon after it is requested. With the use of an online signature, a company can effectively avoid a project holdup and even maintain a paper trail for review in the cloud.
4. Purchase Agreements
The nature of purchase agreements is actually very simple. The form includes scope, shipping, pricing information, intellectual property, and other binding aspects.
Being a practical matter, both the seller and purchaser wish to execute the contract quickly and efficiently. This is something that can be done effectively with the use of online signature software as the process is secured with various levels of security.
5. Client Agreements
In case there is a need for a customer to fill out a form then the online signatures can save incredible time and money. The paper-based permission forms and policy updates require you to create many iterations on the documents.
The overall material cost of paper-based documents and the time taken to read, process, and track customer forms can be considerable. This results in a not-so-ideal customer experience. The electronic documents allow the e-signature service to solve the challenges and create a better customer experience.
A business can create and send many documents for the customers to see and agree with in advance. The customers can also sign on-site using the electronic signature services with their own devices. Electronic signatures have special importance for businesses that particularly deliver custom-made goods. The final approval documents are critical for these firms.
6. Real-Estate Agreements
Multiple regulatory agencies have changed their real estate rules for allowing the e-signatures for real estate contracts. The pandemic has accelerated this trend a lot more.
As a result, an electronic signature service is used for multiple transactions and all of them are legally binding. For all the documents, companies that use online signatures achieve much higher close rates and reduced time to revenue.
7. Legal Agreements
We all know that an electronic signature tool is legally binding. They also come with a feature of audit trail that is court-admissible and ideal for many legal documents such as partnership, intellectual property licensing, and other agreements.
With the required changes in the US regulations and other countries, e-signatures and records can be used to carry the same weight and legal effect as it was previously reserved for traditional signatures and paper documents.
8. Non-disclosure Contracts
In the competitive landscape of today, non-disclosure contracts do the job of providing security while allowing you to do business with third parties a lot more freely.
The traditional pen and paper-based signatures are not just uncomfortable but are difficult to carry out as well. On the other hand, online signatures can be carried out on any device in an easy and secure way.
9. Hiring Agreements
There is a lot of paperwork that is commonly associated with hiring new employees and all the documents can be handled securely with an electronic signature service.
The documents can be effectively filled out and signed electronically. This is then followed by quick and automated dissemination of contracts back to the employees. The HR workforce saves time by having an online dashboard for monitoring the status of each document.
10. Parental Permission Forms
Sometimes, parental consent is required for children to see and do something. The electronic signatures online can be used effectively for offering a parental sign-off from a wide range of electronic devices while integrating with a wide number of verification solutions.
You can create your own templates in the online signature tool and then use the legacy data within the agreement. The templates can also be branded so that the emails can match the visual identity.
Conclusion
Electronic signature technology is a quick, user-friendly, and easy-to-use service that makes the job of signing documents very easy. There are many use cases that this technology can be associated with.
To understand the applications in detail, adopt a credible online signature technology today.
The documents can be effectively filled out and signed electronically. This is then followed by quick and automated dissemination of contracts back to the employees.
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