11 benefits of electronic signature you probably haven’t considered
Time and convenience are often the first things to come to mind when we think about the benefits of electronic signatures. However, if you dig a little deeper you’ll discover the perks extend well beyond that in revolutionizing the workforce.
Unless you’ve been living off the grid, you’ve probably noticed that digital signatures have emerged as a game changer in these modern times, where businesses are continually seeking nuanced solutions to enhance efficiency and reduce operational costs. They offer a modern, secure, and efficient alternative to traditional pen-and-paper signatures across industries.
Here are some lesser-known benefits of electronic signatures.
1. Environmental sustainability
We all want to do our part to protect the planet, and organizations are no different. As many of them seek ways to lessen the environmental impact of their operations, going paperless is often considered an easy win. But while the most direct benefit is the reduction in paper consumption, it’s not the only way digital processes are doing good for the Earth.
According to one estimate, electronic signatures can eliminate the need for 1.2 million pieces of paper each year, the equivalent of saving 120 trees.
After all, the paper production process is energy-intensive, involving various stages such as pulping, drying, and printing. By transitioning to electronic signatures, organizations can save energy that would otherwise be consumed in the manufacturing and transportation of paper.
Paper production also requires substantial amounts of water, from the cultivation of trees to the manufacturing process. By reducing the demand for paper, electronic signatures contribute to water conservation, alleviating the environmental impact on freshwater resources.
Let’s not forget that the production, transportation, and disposal of paper documents generate greenhouse gas emissions. By digitizing signatures and documents, businesses can reduce their overall carbon emissions.
Finally, traditional paper-based workflows generate a significant amount of waste, including used paper, ink cartridges, and packaging materials. Electronic signatures reduce waste by eliminating the need for physical documents and the associated disposal of paper waste.
2. Cost savings
Besides the obvious paper and ink savings, going digital with the signature collecting process can be a huge money saver. According to one estimate, electronic signatures can save organizations an average of $300 for each new employee onboarded in printing, faxing, and copying paper documents alone.
Additionally, the streamlined processes facilitated by e-signatures contribute to overall cost efficiency. Another area for cost savings is through the elimination of postage and courier costs. Traditional signature processes often involve mailing or couriering documents to multiple parties for signatures. Electronic signatures eliminate these costs by enabling secure, instant digital transactions, reducing or eliminating the need for postal services or courier companies.
While there may be initial implementation costs, some eSignature providers can cost as little as $90 per month, the long-term financial benefits often outweigh associated expenses. This makes electronic signatures a strategic investment for businesses looking to optimize their workflows and reduce operational costs.
3. Global accessibility
With 24 time zones spread across seven continents, collaborating with international clients or colleagues can be tricky business.
Luckily, electronic signatures break down geographical barriers, allowing businesses to operate on a global scale seamlessly. Signatories from different parts of the world can sign documents without the need for physical transportation, enabling more efficient international transactions.
Given that international collaborations often involve participants in different time zones, the flexibility e-signatures often can also be useful. They enable instant document signing, allowing stakeholders to sign agreements, contracts, or other important documents without waiting for traditional business hours, thus expediting decision-making processes.
As businesses increasingly engage in global partnerships and projects, the adoption of e-signatures becomes a strategic necessity for optimizing workflows and fostering successful international collaborations.
4. Enhanced security
It’s a sad reality that bad actors are on the rise, with consumers losing more than $8.8 billion to fraud in 2022 alone. Such figures make security a paramount concern in the business world, and electronic signatures address this concern head-on. Digital signatures are often considered safer than traditional signatures due to security features protocols implemented by their platforms.
For instance, advanced encryption technologies and authentication measures ensure the integrity and authenticity of signed documents, reducing the risk of fraud and unauthorized access.
As another example, electronic signature solutions provide detailed audit trails that record every step of the signing process, including who signed the document, when they signed it, and from which device or location. This level of transparency enhances accountability and traceability, making it easier to investigate any discrepancies. Traditional signatures lack this level of detailed tracking.
As businesses increasingly embrace digital transformation, the adoption of e-signatures becomes a strategic choice for enhancing the integrity and security of document signing processes.
Some digital platforms, such as Blueink,
5. Compliance assurance
Electronic signatures (e-signatures) provide several key benefits when it comes to compliance with legal and regulatory requirements.
For starters, they are legally recognized in many jurisdictions around the world. Various countries and regions, including the United States, the European Union, and others, have enacted laws and regulations that acknowledge the validity and enforceability of e-signatures.
When it comes to electronic signature providers, many come equipped with built-in compliance features. ensures that signed documents adhere to legal regulations and industry standards.
Organizations that leverage electronic signature solutions can streamline compliance processes, reduce the risk of legal challenges, and enhance their overall regulatory adherence.
6. Streamlined workflows
Electronic signatures enable immediate signing of documents from any location with an internet connection. This eliminates the delays associated with physical signatures, postal services, and manual handling, streamlining the overall workflow.
And in an age of remote collaboration, teams can work together seamlessly regardless of their physical location. Multiple stakeholders can review, sign, and share documents in real-time, fostering efficient collaboration and reducing the need for face-to-face meetings.
Integrating electronic signatures into existing workflows also brings about a new level of automation. This not only reduces the need for manual intervention but also streamlines repetitive tasks, leading to increased operational efficiency and faster turnaround times.
The adoption of e-signatures is a strategic move for organizations seeking to optimize their processes, improve productivity, and remain competitive in a tough market.
7. Reduction of physical storage
Marie Kondo’s clutter-free moment may have come and gone, but a universal disdain of stacks of disorganized paper remains. Electronic signature platforms can help those piles disappear, instead allowing documents to be created, signed and stored digitally. This eliminates the need for physical paper and associated filing systems, reducing the physical storage space required for traditional documents.
The perks aren’t limited to getting rid of office clutter and archaic filing systems. Digital signature platforms also provide centralized repositories for storing signed documents, making it easier to organize, manage, and retrieve documents.
Another benefit is guarding important documents against loss, damage or deterioration over time. E-signatures, with their digital storage options, minimize the risk of document loss or damage, ensuring the long-term preservation of records.
8. Improved resource allocation
Electronic signatures can significantly improve resource allocation within an organization by optimizing processes, reducing manual tasks, and enhancing overall efficiency.
Remember, traditional paper-based signing processes often involve significant administrative work, including printing, mailing, filing, and manual tracking. Conversely, electronic signatures automate these tasks, reducing the administrative burden and allowing personnel to focus on more strategic activities.
This can be especially valuable for sales teams engaged in customer-facing processes such as client onboarding. Electronic signatures enhance the customer experience by simplifying and expediting document-related interactions, allowing sales and service teams to allocate more time to building relationships and meeting customer needs.
9. Enhanced collaboration
With many workers dialing in remotely, and some on-the-go, digital signature systems enable real-time teamwork on documents. Multiple stakeholders can work on the same form simultaneously, review changes, and provide feedback, fostering a synergetic environment.
As well, many e-signature platforms integrate seamlessly with collaboration tools such as project management systems, communication platforms, and document sharing tools, facilitating an interconnected workplace.
And in industries with strict compliance requirements, e-signature platforms facilitate collaboration by automating compliance checks and ensuring that documents adhere to legal and regulatory standards.
10. Reduce errors
Electronic signatures can significantly reduce errors in document processes compared to traditional paper-based methods.
This is because their platforms often integrate with other systems, such as customer relationship management (CRM) or enterprise resource planning (ERP) software. This integration minimizes manual data entry by automatically populating information from these systems into the document, reducing the risk of errors associated with manual data input.
Additionally, digital signature solutions typically include features for data validation and verification. This helps ensure that the information entered during the signing process is accurate and meets predefined criteria, reducing the likelihood of inaccurate information in the final document.
Learn more about the benefits of electronic signatures through a free Blue Ink trial.
11. Mobile accessibility
The rise of electronic devices in the modern workforce makes mobile accessibility a crucial benefit of digital signatures.
With mobile accessibility, users can remain productive while on the go. Whether traveling, attending meetings, or working remotely, individuals can initiate and complete the e-signature process directly from their mobile devices, avoiding delays and ensuring timely document approvals.
All things considered
Electronic signatures represent a transformative force in modern business practices, offering a myriad of benefits that extend far beyond the digital realm.
From time and cost efficiency to enhanced security and environmental sustainability, the adoption of electronic signatures is reshaping how organizations approach document workflows. As businesses continue to navigate the demands of a rapidly evolving digital landscape, electronic signatures stand out as a fundamental tool for streamlining processes, improving collaboration, and ensuring the security and compliance of signed documents.