As more and more businesses move their processes inexorably toward Cloud technology, Merchant Applications Using Esignature becomes increasingly more popular. According to Forrester Research, e-signature use is projected to grow at an annual rate of 53% for the foreseeable future. It is estimated that there will be 700 million e-signature transactions by 2017.
What is E-Signature?
E-signature is a digital file attached to a contract and is used as the legal equivalent of a written signature. An e-signature is a representation of a party’s acceptance to a legally binding contract.
Why Do You Need e-Signature?
Because the speed of business is accelerating in the Digital Age. It is essential for workflows to accelerate to meet the challenges posed. Think about the processes involved in signing the typical client.
In years past, paper documents had to be prepared, reviewed, and signed by the parties involved. Sometimes, the document had to be printed and signed by multiple parties at different locations. If this happened, then additional time was required to mail or deliver the document to each location. This was, undeniably, a lengthy process.
The Benefits of E-Signature
E-signature technology allows you to:
- automate a large portion of your workflows related to document preparation and management
- securely store and retrieve documents as needed from anywhere with an internet connection and at any time convenient to you, your sales staff, or your customer
- save your company the expense of printing, faxing, mailing via USPS or overnight delivery services, and managing important documents
- close sales more quickly and efficiently without the delay caused by printing and mailing contracts to clients
With all these benefits, it is easy to see why Forrester predicts such positive growth in the adoption of e-signature technologies in the near future. If you would welcome more information about e-signature and other technologies that benefit businesses, please contact us today to discuss your options.
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