7 Business Benefits of Utilizing Digital Signature
It’s common for new technological advancements to be met with some skepticism. For some, Digital Signatures fall into that category. In fact, those two terms combined can elicit a wave of fear to those who are concerned with identity theft.
However, Digital Signatures are one of the safest and most secure methods of verifying identity. As you will see in this overview, it can be better than having a person sitting in front of you.
What is a Digital Signature?
Before we begin describing what Digital Signature is, it is important to clarify a couple of things. First, what’s the difference between an Electronic Signature (E-signature) and a Digital Signature?
The truth is there is very little difference. Electronic Signatures are basically an umbrella that encompasses a wide variety of identity authentication methods. There are many types of E- Signature, just as the term ‘law enforcement’ includes local police, sheriffs, and constables. All are officers, but each has its own branch of conducting business.
Thus, Digital Signature is a form of Electronic Signature.
Secondly, it’s important to note that Digital Signatures have a stronger authentication process than a standard E-signature.
An E-signature is similar to a handwritten signature. While it gives authority to a document, there is the question of the signature belonging to the person signing. Handwritten signatures and E-signatures alike can be forged.
What they lack is a layer of security that authenticates the identity of the person signing. That is what Digital Signature provides.
The Many Benefits of Using Digital Signature for your Business
1. A Digital Signature provides ease of access.
Digital Signature generators offer the creation of your handwritten signature and put it into a digital format. Like with most things that go digital, this makes the process a whole lot easier for users on both ends of the transaction.
Then, when you need to provide a signature for a document, you simply use your credentials through your Digital Signature to sign. It’s that simple.
2. A Digital Signature increases productivity.
Some business processes are time-consuming. Document signing is one of them. As you thumb through your stack of paperwork, it is easy to either miss one or to misplace one.
After the initial authentication process, a Digital Signature is often just a click away. This decreases the time on paperwork and allows agents to move onto the next document or client.
3. A Digital Signature saves on time costs.
For many industries, timing is crucial. With time-sensitive documents, agents have little time to hunt down a client or worry about the signing partner being in another location. There is no, “our management team will review and sign when they return.”
Through the cloud-based system, a document can be sent and signed swiftly, allowing the business cycle to continue with little delay.
4. A Digital Signature saves on supply costs.
Another consideration is the cost of printing supplies. With digital paperwork, the cost savings on pens, paper, and ink cartridges must be taken into consideration.
There is also the cost and time savings of staff filing and retrieving paper documents.
5. A Digital Signature improves customer experience.
When going through the process of filling out paperwork, the signing or initialing every important document can be cumbersome to the customer experience.
Increasing the pace of how paperwork is handled helps alleviate the concerns of the process taking too long to complete. A company that makes paperwork less complicated will have happier customers.
6. A Digital Signature provides company security.
As we have stated, a Digital Signature can be even more secure than having the person sitting in front of you. When data such as who signed it and what time & date it was signed is recorded at the moment the signature is captured, the signatures validity is that much more irrefutable.
It benefits the company because it is the seal of approval you are sitting with the person they claim to be.
7. A Digital Signature provides client security.
Finally, a Digital Signature benefits the client because their information is being used with their permission.
Because the Digital Signature requires a person to physically sign using a stylus, finger or mouse, your client can have the confidence that their information is secure.
Which Industries Can Benefit Most from Digital Signature?
Many industries can benefit from using the security of a Digital Signature system.
- Finance and Insurance – Banks, Home and Auto Loan Offices, and Insurance Companies
- Human Resources – New Hire Paperwork, Tax Documents, and Open Enrollment Forms
- Government Agencies – Employment, Governmental Assistance, and Financial Aid
- Legal – Attorneys, Law Clerks, and Advocacy Offices
- Real Estate – Lending Agencies, Mortgage Companies, and Rental Management
- Construction/Services – Any business that provides a service that needs any sort of sign-off from their customer
TrinitySignature for Your Business Process Improvement
Trinity is a business process improvement focused Quick Base Solution Provider. We develop custom low code applications that are designed to simplify your business processes.
The cloud-based technology we use can be accessed through a laptop, tablet, or smartphone. You have the freedom of conducting business with real-time updates on orders, sales, schedules, client notes, and compliance from any location with an internet connection.
TrinitySignature augments what you can do through your existing platforms. The ability to obtain a quick and secure online signature is imperative to running an efficient business.
You have the assurance that your signed paperwork is authentic, and your client knows their information is protected. They will see that you take their business and security seriously by offering such a platform.
Trinity is a Quick Base Gold Partner and 2019 Quick Base Solution Provider of the Year. Flexibility and scalability are integral to our solutions, since Trinity understands that growing businesses evolve over time.
For over 21 years, Trinity has worked with clients to improve their efficiency, increase service levels, and upgrade their quality of output.