eSignature and its Applications in Different Industries

E-Commerce is an industry that is quickly growing in popularity and rapidly transforming. Although there is no need for a contract to be signed, B2B transactions often include the signing of online documents.

Fremont, CA: Business transformation has hit an all-new peak in the last few years. Regardless of the industry's size, millions of dollars are being pumped in each day towards digitization. Internet and mobile service providers have impacted the technology industry in ways that continuous evolution has become the new norm. Organizations are looking to leverage digital solutions to increase productivity and improve business functions. One such digital solution is eSignature software. The technology has replaced hard copy ink on paper signatures with digital signatures on contract documents on business parties. The technology also provides an added level of security by ensuring that signatures can be tracked and verified.

Here are a few industries that can benefit mainly from eSignature software.

Financial Institutions

Financial institutions primarily deal with banking and other monetary transactions, all of which require high-security levels. Lack of adequate security in such sectors can result in a loss of money. It can also result in spot theft and subsequent access to funds by unauthorized parties. Lack of competence on the part of the stakeholders can result in breaches that can impact the country's economy. A robust eSignature solution can help assure the clients and bankers that contracts are legitimate. It can also help in protecting personal data like PIN, account number, and password.

E-Commerce Industry

E-Commerce is an industry that is quickly growing in popularity and rapidly transforming. Although there is no need for a contract to be signed, B2B transactions often include the signing of online documents. These contracts remain incomplete unless both parties sign them. The geographical locations of these companies make it inconvenient to meet and sign the documents physically. In some cases, organizations may not have a physical location itself. By leveraging eSignature solutions, it becomes easier to complete such transactions and fastens the process as a whole. The solutions can be used to sign contracts before they are sent and also check all the received documents for relevant signatures.

Advertising

The majority of advertising organizations sign their agreements physically for an extended period. This leads to a long term commitment that cannot be nullified mid-term. With the help of enhanced digitization, the advertising sector can now include small businesses like the ones who advertise on social media. It would be cumbersome to sign these contracts physically as most of them only last for shorter periods. eSignature offers the best solution to this problem and ensures that both parties hold up their end of the bargain.

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