Technology has changed people’s lives. For instance, IoT (Internet of Things) enables consumers to monitor and manage their lifestyles. IoT smartwatches are now a thing; it automatically gathers health metrics, such as blood pressure, heart rate, temperature, and more. People can do this even if they aren’t physically present in a hospital or clinic. This allows them to avoid traveling to healthcare providers to gather these health data.
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Likewise, technology has also helped business establishments and organizations. Take virtual reality technology, for example. VR has enabled employees to face real-life scenarios by immersing them in a simulated conversation with virtual peers, managers, and customers. Doing this allows them to practice their soft and hard skills more effectively, right in the comfort of their own homes.
That said, electronic signatures are also becoming more common and as compared to the conventional signature, E-signature is being opted for because of the convenience it offers. The global market for electronic signatures is expected to reach around 26.6% CAGR (Compound Annual Growth Rate) from 2021 to 2030.
If you’re deciding to use an electronic signature, you’re in the right place. But before you proceed to use one, it’s crucial to know more about it by reading this guide.
What Are Electronic Signatures?
An electronic signature is just a signature in electronic form. It allows people to agree or approve the document’s terms, similar to a wet signature. It’s a quick and straightforward way of signing an agreement, a contract, or any legal document. Though many assume it’s the same as an online signature, such is more robust than a scanned signature image.
That said, documents that primarily use electronic signatures are:
- Contractual agreements
- Financing documentation
- Sales contracts
- Offer letters
- Liability waivers
- Living will document
- Letter of attorney
For more convenience and security, consider using electronic signatures in these digital documents.
Benefits Of Electronic Signature
Using electronic signatures to sign documents online has benefits. These benefits can be helpful for both ordinary people and enterprises. That said, here are examples of those benefits:
It’s going to be a tough situation if confidential documents would fall into the wrong hands. Even after being careful, there’s always the possibility for documents to be stolen, tampered with, or misplaced. Fortunately, electronic signatures offer a more secure way of signing documents.
Electronic signatures guarantee more security for sensitive and confidential online documents than offline signatures. Electronic signatures offer built-in security protocols to send, receive, and store electronic documents securely.
Here are specific ways in which an electronic signature can secure your documents:
- Electronic signatures require permission before third parties can have access to online documents.
- Electronic signatures reduce the risk that online documents will get lost or stolen. The risk for these copies to undergo physical damage doesn’t exist.
- Electronic signatures have biometric authentication and passcode features that offer an additional layer of security.
- Electronic signatures guarantee that all required signatures are present.
When managing an enterprise, one can constantly look for possible solutions to reduce existing costs to make the most of benefits. That said, electronic signatures can cut your enterprise’s costs by removing the need for pens, papers, printing machines, photocopying, and other miscellaneous expenses accompanying an offline approach to signing documents.
Additionally, human errors can slow the process of signing documents and have a negative financial impact. Fortunately, the automated processes of electronic signatures can be helpful in this regard.
Electronic signatures reduce the risks associated with signing online documents by notifying you of doubtful records or compliance issues that concern a contract. This can save you from the costs related to addressing problems that you might have averted.
It can be hard to sign documents through a handwritten, paper-ink system. There are many things to do, such as printing, faxing, couriering, and scanning the copy. This can be more challenging if you need to obtain a particular document signed by two individuals in different locations.
The good news is that electronic signatures increase the speed of signing contracts. There are various ways electronic signatures speed up the contract procedure. Two examples are:
- Negotiations can happen faster as each step in the contract procedure is authenticated and easily accessed by every party involved in a transaction. This helps in identifying and monitoring significant issues until the last execution.
- An electronic signature removes the need to sign documents repeatedly, page after page.
Overall, you can consider these benefits if you must sign electronic papers for personal or business reasons.
How To Sign Electronic Signatures In Google Docs Using jSign?
One way to use an electronic signature is when signing a document in Google Docs. There are ways to do that, especially using jSign’s software. Feel free to follow the steps below.
- Log in to your jSign account using your credentials.
- Access your document and upload it from Google Drive.
- Add signers from your copy and insert signature placeholders.
- Generate a custom digital signature by editing your placeholder.
- Save your copy and prepare due dates for additional signatures.
- Click Finish to send the document to yourself or other signers.
- Monitor your document changes and progress.
You can consider these steps as signing this way is quicker as compared to signing documents manually.
Various technologies have been created to improve people’s lives. Some examples are the use of VR and IoT devices. That said, another example is the use of electronic signatures. Electronic signatures enable a user to agree with the terms and conditions of a particular document online.
There are many benefits to signing electronic signatures; for one, it’s more secure than traditional or wet signatures. It has built-in security protocols that ensure your online documents are adequately stored, sent, and received.
Another benefit is that it is more cost-effective. Electronic signatures remove the need for paper, pens, and printing machines. This can help a business to save money for other processes.
More importantly, it saves time and speeds up the process of signing. For one, it removes the need to sign documents repeatedly. It also allows negotiations to happen faster. The reason is that each step in the contract procedure is authenticated and can easily be accessed by all parties involved.