Consider a situation in near future where a big corporate is looking forward to a merger or a change in its structure, where the pile of paperwork to be signed is replaced by the ease of simple eSignatures. Instead of having ‘Sign Here’ mentioned on every page parties can simply sign the document by entering their secure and encrypted signatures using an electronic pad. Yes, along with this ease there are several other impacts of eSignatures on the future as it is fast, legal, convenient and secure.

With a randomness ratio of 1:62 Billion, eSignatures are going to replace all the hectic paperwork and the burden of preparing, managing and keeping them safe. Before eSignatures came into existence every document was prepared, signed, shipped, faxed, mailed, scanned and filed as per the requirement of the parties involving multiple steps of processing, making it more time consuming, costly and inconvenient with the possibility of human error making it more complex.

Let’s have a look at advantages of eSignatures:

1. Faster Contract Pace

With the advent of this advanced and secured means of legitimizing the documents it has become easier and faster to close down contracts. Electronic signing allows no delay in signing the contract which could have aroused due to lack of availability of the signing authority or time. Many professionals do not have time and have to take care of a lot of things instead of just preparing or signing the contracts. Wherein the eSignatures allow:

• Complete contract to be signed in one instant
• More focus on the terms and critical issues
• No geographic limitation, as electronic signatures can be done from anywhere anytime
2. Secured Future

Security is no more an issue in eSignatures as compared to papers that are prone to be faked or tampered. With eSignatures tomorrow is going to be secured ensuring reliable contracts with 1:62 Billion chances of randomness, which is almost negligible as per the experts.

3. Cost Effective

Although the cost is reduced due to the pace and convenience, eSignatures are more reliable when compared to the chances of human error, like signing mistakes, document exchange or terms of contract with the use of signature capture device which allows to add signature to ID Cards, forms, contracts, receipts and other paperwork. eSignatures avoid risks of getting faked and can easily recognize such instances of suspicious entries or compliance matters.
While ensuring that everything is in order, eSignatures saves the cost of fixing issues that could have caused more damage to the contract which could have been avoided. And just to remind the associated costs with physical documents be it the raw material, logistics, physical damage risks, etc.

All in all eSignatures will secure the future of legal documents by providing you the advantage of integrating technology with the future contracts.