What are electronic signatures used for?

by Mahender Bist CEO

From quickly handling student applications to doing employee on-boarding, electronic signatures provide a safer and more effective way of obtaining signatures. In 2000, the ESIGN Act gave e-signatures the same legal standing as wet-ink signatures. That was followed by the UETA act, which was embraced by most states in the U.S to guarantee uniformity in the use of e-signs and electronic records.

With that said, some organizations are hesitant to adopt electronic signatures in their businesses processes. What these organizations don’t understand is that, nowadays, electronic signatures can be used to execute signatures in nearly all kinds of situations. Let’s take a look at some of the frequent instances where e-signs can be applied, especially in the business world.

Vendor/supplier agreements

Businesses, especially SMEs, are usually disadvantaged when it comes to negotiating with vendors; thus, is essential for managers to be in a position to lock-in the terms and prices immediately when an agreement is reached. When managers or business owners sign documents online, they get to finalize any deal they have with their vendors within minutes, hence capitalizing on the earlier mentioned benefit.

Sales contracts

When managers esign documents, they are guaranteed of closing more deals faster. For many organizations, sales contracts are the most regularly signed documents – and most vital. Whether it’s business-to-consumer (B2C) or business-to-business (B2B) sales agreements, e-signatures can come in handy.