7 Industries That Could Benefit from eSignature Technology
Contract Management Software
Companies in every industry look for ways to save costs, improve workflow processes, and reduce waste. Using esignatures is an economical and secure alternative to traditional contract signatures. Read on to discover a few of the industries that can benefit from using this signature option.
Healthcare and other life sciences industries are subject to unique federal guidelines from other industries. Regulations concerning privacy, secure electronic storage, and acceptable forms of electronic documents and signatures are an ever-present concern. Electronic signatures that meet federal criteria can improve compliance, heightening security and reducing paper waste. Managing contracts and signatures for physicians, patients, vendors, partner organizations, and other employees efficiently is an important aspect of successful healthcare organization management.
Financial Services and Insurance
Finance and insurance-related industries often require signatures to process almost every transaction. Streamlining processes is essential to avoid debilitating bottlenecks. Besides the improved efficiency over faxing or mailing, esignatures may also offer timestamp and audit log features that track precise details about the signing process.
Legal professionals are another excellent example of an industry loaded with paperwork and signature requirements. Using a centralized system gives users access to updated files automatically. Two-factor user authentication strengthens security measures, and admins can easily notify all applicable parties when signatures are required.
Real estate agents often need to turn around paperwork quickly or risk being edged out by a competitor with another offer. Meeting a 24-hour deadline while relying on traditional signatures typically means a lot of driving, inconvenient meetings, and stress. Electronic signatures are easy for clients to sign and send from home. Real estate agents can reclaim time otherwise lost driving from one place to another, and use it instead to find the next client.
Architecture, Engineering, and Construction
Projects in these industries are often on a strict schedule. Delays can quickly become expensive. The problem is that sending documents of 100 pages or more, not to mention coordinating with various engineers, construction teams, zoning officials, and contractors, can take hours or days for even a simple transaction. Communicating and signing documents digitally can cut the time down to minutes. Storing documents in a centralized program can also make it easier for admins to track who has reviewed and signed the contract.
Here’s one step to stop constituents from complaining about slow government processes. Using esignatures in a well-secured, cloud-based software system can help employees collect necessary approvals for a plan faster, without compromising security. We wouldn’t say using esignatures indirectly affects chances of re-election, but it’s hard to argue against providing speedier services for citizens.
IT and Cybersecurity
Companies specializing in digital security and innovation to their clients do well to “walk the walk” themselves. Opting for electronic signatures is one way to deliver promised information security and efficiency, with extra benefits if esignatures come as a part of a more comprehensive end-to-end contract lifecycle management software. Using esignatures also saves money and resources on faxing, mailing, or coordinating in-person meetings to sign documents. Remote clients can access and sign files at any time, from anywhere, as long as they have Internet and a computer or mobile device.
The Buyer's Guide to Contract Management Software
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