What are electronic signatures used for?
From quickly handling student applications to doing
employee on-boarding, electronic signatures provide a safer and more
effective way of obtaining signatures. In 2000, the ESIGN Act gave e-signatures the same legal standing as wet-ink signatures. That was followed by the UETA act, which was embraced by most states in the U.S to guarantee uniformity in the use of e-signs and electronic records.
With that said, some organizations are hesitant to
adopt electronic signatures in their businesses processes. What these
organizations don’t understand is that, nowadays, electronic signatures
can be used to execute signatures in nearly all kinds of situations.
Let’s take a look at some of the frequent instances where e-signs can be
applied, especially in the business world.
Vendor/supplier agreements
Businesses, especially SMEs, are usually
disadvantaged when it comes to negotiating with vendors; thus, is
essential for managers to be in a position to lock-in the terms and
prices immediately when an agreement is reached. When managers or
business owners sign documents online,
they get to finalize any deal they have with their vendors within
minutes, hence capitalizing on the earlier mentioned benefit.
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