We live in a digital era, where every activity is automated or semi-automated, thereby increasing the productivity of the general workforce. In the past few decades, we saw phenomenal growth in the industrial and business sector, where software has simplified the activities to a great extent. When it comes to contracts, the advent of the robust contract management software system has redefined how the contracts are managed, monitored, and executed. One of the outstanding features that are responsible for the seamless functioning of contract management software is the facility to incorporate the eSignature feature.
But, What is eSignature?
Gone are the days when we used to hunt for a pen to sign and close a deal for further execution. The advent of eSignatures drastically revolutionized the system of signed approval via digital formats securely.
Electronic signatures or eSignatures fall under the broad category of digital signatures. The electronic signature uses a specific technology that enables users to sign a document digitally. The eSignature software captures the handwritten signature of the users by retaining its uniqueness and encrypting with a private key. Electronic signature service providers such as DocuSign offer safe, secure, and accurate eSign services, which can be leveraged to expedite the contract process.
Click here to read Critical Factors to Consider Before Signing a Contract
Benefits of eSignature
Here are a few notable benefits of eSign and why it is essential for companies to integrate their contract management software system with the eSignature facility.
Before the Internet occupied every aspect of our lives, people conducted their contractual process in a conventional way, which was tedious and prone to risks. Imagine drafting a contract by hand and sending it to the respective parties in the postal mail. The process of finalizing the content gets dragged out due to the limited communication facilities. The advancement in technologies has enabled us to condense the time factor. With an agile vendor contract management software, the eSignature feature enables the involved parties to quickly close the deal by securing signatures from all the partners instantly.
Negotiating on contract via the postal system or the eMail system takes time and effort, and considerably increases the costs. Most contract lifecycle management software and eSignature facilities work on a yearly subscription or one-time purchase models, which are economical and beneficial in the long run. The software is generally packed with ergonomic and contemporary features, which makes it a worthy investment for businesses that deal with contracts regularly.
When it comes to contracts, safety plays an important role. Sending contracts over unstable platforms and services increase the chances of data theft. It is imperative of the companies to protect the classified data of the partners. The eSignature feature ensures safety by encrypting the contract content with a private key, which only the individuals with original credentials will have access. The improved and enhanced security that eSign features is on par with the safety protocols followed by some of the most prestigious institutions in the country.
Click here to read Ways to Keep Your Electronic Documents Safe Long-Term
Unlike certain applications that require technical expertise, the eSignature feature is quite simple to use. Especially, in the case of remote working, the eSignature facility is one of the top reasons for ensuring business continuity in businesses of different verticals. With a robust eSignature facility integrated with a high-performing software, the team’s productivity can be established, irrespective of the modes of working.
We have entered another decade and with it, it has become imperative to enhance the processes digitally for wider business scope. With a sturdy salesforce for contract management software set in place, along with a dependable eSignature facility, businesses can accelerate their contract processes without boundaries.
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DocuCollab is one of the best Contract Management Software available in the market, which has the facility to integrate eSignature features and improve the contract processes. To learn more about DocuCollab click here.