What Is Signature Automation and Why Does It Matter?
Congress passed the Paperwork Reduction Act of 1980. Since then, possibilities for electronic documents have expanded. Yet, over four decades later, many organizations are still awash in paperwork.
One of the biggest obstacles has been a continued need for pen and paper signatures.
But now, we have the right technology and systems to make paperless signatures a reality. To keep up in today’s cloud-based economy, businesses are adopting signature automation.
This post will help you understand more about what electronic signature automation is. We’ll also discuss what benefits it can bring to businesses of all kinds.
What Is Signature Automation?
Signature automation is a way to sign documents without needing a pen and paper. It replaces them with a legally binding digital stamp that you can place on electronic files.
Any electronic signature protects documents from forgery and shows approval. But the term “electronic signature” refers to a signature protected by a digital certificate.
Blockchain technology makes a unique key for the document to ensure its integrity. This advancement made automated signature technology a great alternative to signing hard copies.
Why Signature Automation Is an Essential Business Tool
Businesses use signatures for contracts, service agreements, and other company forms. But forms that need physical signatures can waste time and create bottlenecks. Even if these documents start as electronic files, you have to print them out to add a signature.
Then, you must bring or send the document back to the sending company. Usually, you’ll do this in person, through snail mail, or by scanning and attaching the document to an email.
This involves a lot of steps and time spent waiting for documents. But these slowdowns are becoming more and more avoidable. That’s why physical signatures are becoming unpopular in today’s market.
Signature automation isn’t perfect, but it makes approving documents quicker and easier. An automated signature workflow’s convenience also allows businesses to improve customer relationships.
Streamlines Document Processes
In today’s digital society, hybrid work environments are the norm. With signature automation, you no longer have to pass physical documents around. This makes it easier to deal with geographic distance. No matter where customers or team members are, signatures don’t have to delay progress.
Signature automation allows you to complete projects faster and with fewer steps. It can also help your organization establish a well-developed signature control system. For example, e-signing makes it easier to manage different document versions. This is especially true when they need different levels of approval.
What’s more, businesses can use document control functions. These tools can change permissions and ensure the right individuals receive the correct versions.
You can also automate digital document tracking. This features records and puts a timestamp when someone approves or edits a digital document. Tracking makes it easier to keep an eye on the status of each document and automates data collection. It also makes it less likely for clerical errors to derail important projects.
Allows for Bulk Document Distribution
Signature automation helps you distribute large quantities of documents. From a central dashboard, workers can manage many document projects. They can also personalize forms and easily track each document’s progress.
When sending hundreds or thousands of documents, you must keep up with where each form is in the process. A good document management system reminds people to approve and return forms. With this tool, you’ll spend less time searching through your databases for missing files.
The effectiveness of bulk document management also relies on using templates. Templates provide you with a version of the document that contains editable fields. Before you send a copy out for a signature, you can customize it for the recipient. This can make the process even more efficient.
For example, you could include pre-filled terms about a service the customer receives. You can also include things like your business address to make it easier for employees to fill out forms. As a result, you’ll have fewer questions to answer to and get documents back more quickly.
Improves Client and Customer Trust
Automated signature processing creates a better experience for customers and employees. It allows you to sign and complete documents in a few clicks. No more having to print, sign, scan (or reprint), and return.
What’s more, electronic documents with electronic signatures are protected from tampering. They’re also less prone to errors. Compared to physical documentation, signature automation provides a safer experience.
You can also reinvest all your saved time and energy into business growth. One secret of business success is that any efficiency you gain can be an edge over competitors.
All in all, improving your routine processes will support your business model. With signature automation, your team can focus on more strategic and creative activities.
Is Signature Technology Safe To Use?
Since its passage in 2000, the E-Sign Act has allowed electronic signatures. The law places e-signed documents at the same level as hard copies signed with pen and ink.
The bigger issue is what the public thinks. In the early 2000s, security measures like blockchain and encrypted identity stamps were uncommon. Adding e-signatures to documents was risky when users didn’t protect documents. As a result, third parties could easily tamper with electronic signatures.
But now, digital certificates make electronic signing more trustworthy. Third-party authorities issue them with a public key encrypting each document. Certificates help protect and verify the signatory’s identity. As a result, users have started to gain more trust in online signing.
Now, experts accept electronic signatures as safe. In fact, many consider them essential to today’s fast-paced document workflow environment.
Sign Documents Faster With an Electronic Signature Automation Solution
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