Everything is happening digitally, and then someone takes out the pen and paper, asking you to sign the contract. Wait..what? How is it possible to deal with the client or prospect from the other region of operation?
This is a disaster on a company’s part when they are not capable of providing convenience to their clients. Soon, your new target audience will be mostly Gen Z. They no longer go out of the way to make their deals successful, let alone sign papers in-person.
So, what to do? This is when E-signatures can answer your call. But you might hear the argument that manual signatures are less risky.
It seems right, so what should I do? How do you make the right choice?
Let’s discuss all your concerns about manual signatures vs. e-signatures and what exactly Dynamics 365 Electronic Signature is. Let’s talk about them so you can streamline your business efficiency better.
What are Manual Signatures?
Manual signatures are handwritten signatures on a tangible document with a pen and ink. This type of signature has been used throughout history to verify identification and perform legally binding contracts.
But in most circumstances, eSignatures now have the same legal weight as manual signatures.
But you are running a business and planning to expand it globally. Can you afford the cost of manual signatures? Apparently not.
What challenges they might be posing for businesses?
Businesses are now operating digitally for almost all of their operations. Therefore, with the manual signature, they get stuck in the process and have to face challenges like:
- Highest Operating Cost
- Space-consuming Storage
- Restricted Communication and Collaboration
- Low Levels of Productivity
What are E-Signatures?
How E-Signatures Improve Business Efficiency?
If your business operations are run on Microsoft, you are probably looking for the Dynamics 365 E-signature app.
While there is no specific app by Microsoft, they do have a feature that helps you integrate the tool to create an e-signature and make signing easy and seamless.
However, regardless of the tool you use, they are accounted for as legally binding and ensure a secure and simple way of signing your contracts or any documents online.
If you think logically, you must know that everything in business is getting digital and global. So, with contracts being a significant part of business, it is important to streamline every process. It is The Dynamics electronic signature app, and others help a lot:
Convenience
Agreements, contracts, and other papers can be signed at any time and from any location, eliminating the need for in-person meetings or mailing physical documents. It also improves record-keeping and customer experience by decreasing friction and inaccuracies in company transactions.
Furthermore, in B2B operations in which business partners may be located on different continents, the ability to sign documents quickly and securely is critical. E-signatures eliminate the requirement for physical document transit, which reduces delays and improves overall operational efficiency.
Speed
This is one of the major e-signature benefits for businesses. Organizations may automate and digitize important areas of their business procedures, resulting in a faster, easier, and more digital experience. When contracts are signed electronically, the turnaround time can be reduced from weeks to days, even minutes.
Enhance Security
eSign enables organizations to protect their confidential and sensitive information. Configuring security parameters on documents limits access to users who are crucial to the process.
You don’t have to worry about security because the settings can be changed to view only, or access can only be given to the stakeholder parties. So, no one can either change or copy the contract for forgery or fraud.
Accuracy
Forget sticky notes and large amounts of fine print on a physical document. You may use digital signatures to include helpful prompts, designate specific questions as required, and include formatting instructions, ensuring that you obtain the information you need the first time—without any back and forth.
Operational Efficiency
Clients and suppliers can approve requests faster with e-signatures. It removes the time-consuming back-and-forth postage of hard copies that is required when using handwritten signatures.
Sometimes, when using a manual signature, you have to send the documents to their due location as well. It takes time and also adds up to the extra logistics cost.
With e-signature, you don’t have to think about it.
One app, E-signatures, also facilitates cross-platform mobility. Because most business documents are produced online, signing agreements electronically allows you to find, sign effortlessly, and transfer documents without printing, manually signing, scanning, and emailing them to the appropriate people.
Storage and Retrieval
Managing physical documents can be challenging. Manually-signed papers can be difficult to save and retrieve, whereas e-signatures make document management easier by allowing for digital storage and retrieval.
Electronic signatures aid in the digitization of document workflows, enabling businesses to manage and preserve papers in a safe digital environment.
This decreases the amount of physical storage space required while also making retrieval easier when needed. Companies can use document management systems to improve organization, searchability, and compliance.
Cost Reduction and Environmental Benefits
Adopting electronic signatures saves money by lowering printing, storage, and notarization costs. This paperless strategy not only lowers expenses but also promotes environmental sustainability.
Businesses that reduce their paper use help to reduce deforestation and carbon emissions, both of which are crucial in tackling climate change. This is consistent with global initiatives to reduce carbon emissions and promote environmental responsibility.
Manual Signatures Vs. E-Signatures – Key Differences
When deciding between manual signatures and e-signatures, it’s important to consider factors such as efficiency, security, and convenience. Manual signatures offer a traditional, legally recognized way to validate documents but can be time-consuming and prone to errors or loss. On the other hand, e-signatures provide a faster, more secure, and environmentally friendly solution that simplifies document management and enhances workflow automation.
Below are some key differences and a short comparison of Manual Signatures Vs. E-Signatures.
- Manual signatures require physical presence or mailing, leading to potential delays.
- E-signatures allow documents to be signed remotely from any device, improving accessibility.
- Paper-based signatures can be misplaced or damaged, whereas digital signatures are securely stored.
- E-signatures often include authentication measures, making them more secure against fraud.
- Implementing e-signatures can reduce operational costs and streamline business processes.
Conclusion
E-signatures provide a faster, more secure, cost-effective alternative to manual signatures. With Microsoft 365 electronic signature integrations, businesses can streamline their document workflows, enhance security, and improve overall operational efficiency. If you’re looking for a seamless solution within Dynamics 365, DHRP’s e-sign add-on is the perfect fit.
It enables businesses to sign, store, and manage documents effortlessly, ensuring compliance and convenience. Say goodbye to delays and inefficiencies—choose DHRP’s e-sign add-on for Dynamics 365 and take your business to the next level.
Fortunately, we are providing a 3-month free trial, so request a demo or visit AppSource to avail of this offer. To learn more about DHRP’s Dynamics 365 add-ons, please contact us.
