10 Leading E-Signature Use Cases For Your Small Business
As a small business owner, you must develop multiple skills to solely perform various functions, such as marketing, HR, finance, sales, etc. On top of that, it requires numerous documents to maintain the business and many signatures to be signed.
The traditional signing process takes time and slows down the business. The electronic document, on the other hand, has the same legal standing as a paper document but helps:
Save time: You can sign documents within minutes anywhere and anytime.
Maintain control: You can track who signed documents and when.
Keep your documents mobile: You can now store them in the cloud and access them anywhere instead of creating cabinets in the office for storing documents.
Hence, all in all, the e-signature tool helps streamline the workflow and increase your business efficiency. Check out some powerful areas where InkPaper’s e-signature helps your small businesses.
E-signature Use Cases for Small Businesses
One of the most important documents for a business is its sales contract. The InkPaper e-signature permits sales agreements to be executed online, which allows deals to be closed in hours and minutes rather than weeks or days.
It allows you to automate many sales processes and track where sales agreements are in the signing process.
Supplier and Vendor Agreements
As your business grows, you often must spend considerable time managing relationships with suppliers & vendors and coordinating procurement activities.
You can improve procurement activities by shifting from paper-driven to digital workflows. We can accelerate the procure-to-pay process by reducing the risks created by errors and the costs associated with paper document processing. In addition, it's also easy to stay compliant with purchasing policies.
New Customer Forms
When you have a new customer, it is much easier to use e-signature over handwritten signatures for filling out forms as it saves time and money. Paper-based consent forms, policy update forms, or liability waivers must be generated in multiple iterations of documents.
By adopting an e-signature, you can cut down the material cost. In addition, it saves valuable time by reducing the time invested in reading, tracking, and filing customer forms.
Changes are a normal part of any business, especially for project-based businesses like architecture, construction, and web design. Clients are likely to change their minds, and order amounts may suddenly increase or decrease. An approved change order is vital since compensation for hours beyond the original bid may be reviewed.
An e-signature tool makes the process hassle-free and permits you to send out the change order as soon as the change is requested. Thus e-signature helps to avoid a project holdup and streamlines the process of maintaining a complete paper trail for review in the cloud.
It is very critical for a manufacturer to get final approval before starting the production or manufacturing process. You can use electronic signatures to make the process fast when receiving approvals. As a result, you can focus on completing the order instead of wasting time obtaining approvals. There is no need to visit the clients and get their signatures on the approval documents.
Examples of businesses requiring customer approvals include custom furniture shops, art shops, and print shops.
When a new person is hired, the onboarding process involves many forms that need to be filled out, like benefits enrolment, contracts, paychecks, etc. In addition, maintaining these documents in the office is another tiresome task.
Using e-signature, you can streamline the process of employee onboarding by signing the documents digitally and storing the employee's documents on the cloud. Thus, the employee can begin working sooner and focus on more valuable tasks.
Intellectual Property Licensing & Other Legal Agreements
The legally binding nature of electronic signatures makes them ideal for a wide range of legal documents, such as intellectual property licensing, partnerships, and other contractual agreements. Since regulations have changed in the U.S. and other countries, electronic signatures and records are now considered as valid as handwritten signatures and paper documents.
In a competitive environment, non-disclosure agreements are precious because they allow you to do business more securely and freely. Signing them with a pen and paper is very inconvenient, and they should be addressed or remembered. The use of e-signature allows your partners to sign non-disclosure agreements from a laptop or mobile device, making it easy and secure to protect your proprietary information. This will enable you to work confidently with third parties.
Parental Consent & Age Verification
Entertainment companies, gaming companies, and photographers frequently target under-18 audiences, requiring parents or legal guardians to sign a consent form. The E-Signature tool facilitates parental sign-off from various electronic devices and integrates with several ID verification software solutions. Thus, e-signature can be used for any purpose, whether verifying the age of employees or working with children.
InkPaper - A Secure & Hassle-Free E-Signature Platform
Electronic signatures make your business's Contract Lifecycle Management processes streamlined. Now is the right time to go paperless, mobile, and execute your agreements faster without waiting on mundane work.
InkPaper's e-signature is easy to use & staff and customers can sign from nearly any device, anywhere, anytime. Several built-in features speed up the process of preparing documents. And a multiple-level security system protects your company.